Felipe Duran, the Chief Financial Officer of iBio, Inc. (AMEX:IBIO), recently acquired 9,191 shares of the company's common stock. The purchase, valued at approximately $24,999, was made at a price of $2.72 per share, with analysts setting a target price of $3.60. The stock has shown remarkable strength with a 118% return over the past year, according to InvestingPro data. This transaction was executed as part of a Securities Purchase Agreement with iBio, Inc., dated January 10, 2025. Following this acquisition, Duran holds a total of 11,139 shares directly. While the company maintains strong liquidity with a current ratio of 3.37, InvestingPro subscribers can access additional insights on insider trading patterns and 8 more key investment tips for IBIO.
In other recent news, iBio Inc. has made significant strides in the medical field by developing an antibody in collaboration with AstralBio Inc. This antibody targets Activin E, a protein linked to cardiometabolic disorders and obesity. The development of the antibody is a potential first in the industry, according to iBio's CEO Martin Brenner, Ph.D., DVM. The company's proprietary Machine-Learning Antibody Engine played a key role in this achievement, identifying critical regions on the Activin E protein and enabling the creation of synthetic epitopes.
Preclinical studies have shown promising results, with the antibody demonstrating strong binding to Activin E and the ability to block the protein's signaling. This development could lead to treatments that reduce abdominal fat, lower the risk of type 2 diabetes and cardiovascular disease, and preserve muscle mass. The partnership between iBio and AstralBio also includes an exclusive license for AstralBio to use iBio's Drug Discovery (NASDAQ:WBD) Platform for four cardiometabolic disease targets, with further preclinical development options.
These recent developments come on the heels of iBio licensing an anti-myostatin antibody from AstralBio and the creation of a bispecific antibody targeting myostatin and Activin A. Despite the company's current lack of profitability, with an EBITDA of -$14.75M in the last twelve months, these advancements underscore the effectiveness of iBio's technology platform and the scientific expertise of both teams.
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