SAN DIEGO—Marc Banjak, Chief Legal Officer of iBio, Inc. (NYSE:IBIO), has purchased 9,191 shares of the company's common stock, according to a recent SEC filing. The transaction, completed 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 remarkable strength, posting a 117.95% return over the past year according to InvestingPro data. Following this acquisition, Banjak's direct ownership in iBio stands at 11,066 shares. The purchase was made pursuant to a Securities Purchase Agreement with iBio, Inc. InvestingPro analysis shows the company maintains strong liquidity with a current ratio of 3.37, while investors should note the upcoming earnings release scheduled for February 13, 2025.
In other recent news, iBio Inc., in collaboration with AstralBio Inc., has developed an antibody targeting Activin E, a protein associated with cardiometabolic disorders and obesity. This development is a notable advancement for iBio's drug discovery platform, which employs artificial intelligence for the progression of antibody immunotherapies. Despite not being profitable yet, with an EBITDA of -$14.75M over the past year, iBio's proprietary Machine-Learning Antibody Engine played a pivotal role in the antibody's creation.
Preclinical studies have shown the antibody's robust binding to Activin E and its capacity to block the protein's signaling, potentially contributing to metabolic health regulation. The partnership between iBio and AstralBio includes an exclusive license for AstralBio to use iBio's Drug Discovery (NASDAQ:WBD) Platform to engineer four targets for cardiometabolic disease treatment.
These recent developments follow iBio's licensing of an anti-myostatin antibody from AstralBio and the creation of a bispecific antibody targeting myostatin and Activin A. While specific timelines for the clinical development of the new antibody have not been disclosed, the swift progression of the joint myostatin program and the development of the new antibody against Activin E highlight the efficacy of iBio's technology platform and the scientific expertise of both teams.
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