- NYSEAMERICAN:IBIO falls by 0.50% on Thursday after three straight days of gains at the start of the week.
- iBIO has finally decided on IBIO-201 as its coronavirus vaccine of choice.
- The entire COVID-19 biotech industry gained this week after AstraZeneca’s leading vaccine trial was halted.
NYSEAMERICAN:IBIO finally fell on Thursday alongside broader markets as the fallout from AstraZeneca halting its coronavirus vaccine study finally levelled off. iBIO has been a popular biotech penny stock amongst bargain investors that are targeting these micro-cap firms as potential industry disruptors. The stock has performed admirably thus far this year up 212.50% during the past 52-weeks – although shares are down over 70% from its 52-week highs of $7.45.
IBIO is more than just a coronavirus vaccine candidate though and investors know that the New York-based company has some more aces up its sleeve. Even if IBIO-201 is not chosen as the one the vaccines used to combat COVID-19, iBIO Inc. is well-positioned to be a global manufacturer of vaccine components with its FastPharming facility located in Bryan, Texas. The world is going to need upwards of 7 billion vaccines at some point and it may inevitably be a combination of biotech firms that band together to conquer the novel coronavirus.
IBIO Stock News
iBIO also has its hands in other sectors as it is developing IBIO-100 as well, which is a fusion protein for the treatment of fibrotic diseases. The recent selloff leading up to the AstraZeneca news has battered the stock down to levels where bargain investors should once again take notice. The race for the COVID-19 vaccine is wide open as other firms continue to fail and other companies have the chance to step up to the plate. While ultimately IBIO may not be the vaccine that is chosen, it certainly has a chance of carving out a role in the manufacturing of vaccines for global use.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.