David Arkowitz, a director at iBio, Inc. (NYSE:IBIO), recently acquired 18,382 shares of the company's common stock. This transaction, executed on January 10, 2025, was valued at approximately $49,999, with each share purchased at a price of $2.72. The purchase price sits well below the analyst target price of $3.60, with the stock showing remarkable strength through a 118% gain over the past year. According to InvestingPro data, iBio maintains strong liquidity with a current ratio of 3.37. The purchase was made under a Securities Purchase Agreement with iBio, Inc., as noted in the filing. Following this acquisition, Arkowitz holds 18,382 shares directly. With the company's next earnings report scheduled for February 13, 2025, InvestingPro subscribers can access additional insider trading patterns and 8 more key insights about iBio's financial health.
In other recent news, iBio Inc. and AstralBio Inc. have announced their collaboration on the development of an antibody aimed at Activin E, a protein associated with cardiometabolic disorders and obesity. This breakthrough marks a significant advancement in iBio's drug discovery platform, which leverages artificial intelligence for the progression of antibody immunotherapies. The development of this antibody could be an industry first, according to iBio's CEO Martin Brenner. Preclinical studies have shown the antibody's strong binding to Activin E, potentially playing a vital role in metabolic health regulation. The partnership between iBio and AstralBio includes an exclusive license for AstralBio to use iBio's Drug Discovery (NASDAQ:WBD) Platform for four targets for cardiometabolic disease treatment. This recent development follows iBio's licensing of an anti-myostatin antibody from AstralBio and the creation of a bispecific antibody targeting myostatin and Activin A. These are recent developments that reflect the effectiveness of iBio's technology platform and the scientific expertise of both teams.
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