Ibio (NYSEAMERICAN:IBIO) stock is soaring higher on Friday after announcing a next-generation vaccine program to treat the novel coronavirus.
This new program has it developing IBIO-202 for the prevention of coronavirus. The candidate uses antigens derived from the spike protein fused with its own LicKM booster molecule.
The positive news from that program today is the completion of IND-enabling toxicology studies. These studies found that there were no adverse effects at low or high doses from the vaccine candidate.
To go along with this, iBio is also working on the IBIO-202 vaccine candidate. This is also designed to treat coronavirus. However, it targets nucleocapsid protein instead of the spike protein. The advantage of this is that it could allow for better protection against mutant strains of the virus.
Martin Brenner, DVM. Ph.D., CSO of iBio, said this about the coronavirus vaccine news boosting the company’s stock today.
“Immunization with more conserved sequences, such as the N protein, is expected to generate T-cells that could clear spike protein variant viruses in addition to the original virus. The N protein strategy of IBIO-202 is complementary to existing first-generation, S protein-directed vaccines and may be suitable as a more universal coronavirus vaccine.”
IBIO stock is seeing heavy trading today on the coronavirus vaccine news. As of this writing, more than 83 million shares of the stock have changed hands. That’s an impressive increase over its daily average trading volume of 8.6 million shares.
IBIO stock was up 18.8% as of Friday morning and is up 33.1% since the start of the year.
Investors looking for more coronavirus news need look no further.
Several other companies are making headlines with their coronavirus developments. That includes Ocugen (NASDAQ:OCGN), Cocrystal Pharma (NASDAQ:COCP), and Precipio (NASDAQ:PRPO). Investors can learn more about these topics at the links below.
More Coronavirus News
- Ocugen Stock Has a Big Pullback Coming, and That Will Be Your Chance
- COCP Stock: Cocrystal Pharma Gains 40% on Big Covid-19 News
- PRPO Stock: 12 Things to Know about the Precipio Rapid COVID-19 Antibody Test Launch on Amazon
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article.
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