SAN DIEGO—Brenner Martin, the Chief Executive Officer and Chief Scientific Officer of iBio, Inc. (NYSE:IBIO), recently purchased 9,191 shares of the company's common stock. The transaction, which took place on January 10, 2025, was executed at a price of $2.72 per share, amounting to a total investment of $24,999. The purchase comes as the stock has shown strong momentum, delivering a 118% return over the past year, with the current price sitting well above its 52-week low of $1.02.
This acquisition increases Martin's direct ownership to 18,316 shares, according to the SEC filing. The shares were acquired through a Securities Purchase Agreement with iBio, Inc. InvestingPro analysis reveals 8 additional key insights about IBIO's financial position and market performance.
iBio, Inc., headquartered in New York, operates in the pharmaceutical preparations industry. The company continues to focus on its strategic initiatives under Martin's leadership, maintaining strong liquidity with a current ratio of 3.37 and achieving 250% revenue growth in the most recent quarter. Investors can mark their calendars for the next earnings release scheduled for February 13, 2025.
In other recent news, iBio Inc. and AstralBio Inc. have announced the creation of a novel antibody targeting Activin E, a protein associated with cardiometabolic disorders and obesity. The development of this antibody is a significant achievement for iBio's drug discovery platform, which leverages artificial intelligence to advance antibody immunotherapies. The company's current ratio stands at 3.37, indicating a strong liquidity position to support its research initiatives.
This new antibody could be an industry first, as indicated by iBio's CEO Martin Brenner. Despite the company not yet turning a profit, with an EBITDA of -$14.75M in the last twelve months, the Machine-Learning Antibody Engine was crucial in identifying critical regions on the Activin E protein, enabling antibody development without the need to produce Activin E itself.
The antibody has shown promising results in preclinical studies, exhibiting strong binding to Activin E and the ability to block the protein's signaling. This could potentially lead to treatments that reduce abdominal fat and lower the risk of type 2 diabetes and cardiovascular disease, while preserving muscle mass.
iBio and AstralBio's collaboration includes an exclusive license for AstralBio to use iBio's Drug Discovery (NASDAQ:WBD) Platform for engineering four targets for cardiometabolic disease treatment. iBio retains the option to license three cardiometabolic targets from AstralBio and will have the rights to develop, manufacture, and commercialize these targets.
The companies have not disclosed specific timelines for the clinical development of the new antibody. However, the rapid progress of the joint myostatin program and the development of the new antibody against Activin E highlight the effectiveness of iBio's technology platform and the scientific expertise of both teams.
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