The Ibio Inc (NYSEAMERICAN: IBIO) stock price soared 140% after revealing that its latest immune-oncology program was targeting MUC16, a well-known cancer target often overproduced in various types of solid tumours, including lung, ovarian, and pancreatic cancers.
eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk.
Investors cheered the news, as evidenced by the iBio’s stock price rally. The company plans to use its patented epitope steering AI platform, which allows its new monoclonal antibodies (mAbs) to bind to a region of MUC16 that is not shed or glycosylated.
WELCOME BONUS - Free Share Bundle When You Invest £50!
Open a UK Investment Account: Shares, ISAs, Managed Portfolio
Invest in 15,000+ shares and ETFs. Open an account now, invest at least £50, and you’ll get a free share bundle worth between £40 and £200. T&Cs apply.
IG
View Offers
Empfohlener Broker
Multi Asset Platform
Top Broker Recommendation
- IG Top-tier regulation – Read our Review
- eToro Wide range of instruments available to trade – Read our Review
YOUR CAPITAL IS AT RISK. 76% OF RETAIL CFD ACCOUNTS LOSE MONEY
iBio’s innovative approach circumvents tumor evasion mechanisms. Hence, it could potentially provide a powerful tool to fight cancers. The news came out yesterday after the markets closed, leading to an after-hours rally in iBio stock followed by today’s premarket rally.
MUC16 is a large extracellular protein in over 80% of ovarian tumours. Tumour cells can avoid being attacked by the body’s immune system by shedding or glycosylating MUC16, making it challenging for traditional to target and destroy the cancer cells appropriately.
Following the addition of the MUC16 program, iBio’s immuno-oncology portfolio will now include the CCR8 and IBIO-101, which are its Treg-depleting programs, along with the program that targets the tumour-specific EGFRvIII protein.
iBio prides itself on being an AI-driven innovator of precision antibody immunotherapies, a stance supported by its various programs, such as the latest MUC16 program, that could revolutionise how solid tumours and cancers are treated.
Martin Brenner, iBio’s Interim CEO and Chief Scientific Officer, said: “The targeting of a very specific, pathophysiologically relevant region of MUC16 is a testament to the versatility of our AI technology, as it successfully shows it can be applied to a broad range of targets. This success adds to the growing list of target classes to which we have made differentiated antibodies using our patented epitope steering technology.”
IBio was recently downgraded by analysts at JMP Securities from Market Outperform to Market Perform. However, the latest developments could change the company’s future and analyst ratings.
*This is not investment advice.
The Ibio stock price.
The iBio stock price soared 140% to trade at $1.79, from Thursday’s closing price of $0.75.
eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk.