TSX gains after CPI shows US inflation rose 3%
Investing.com - Oppenheimer initiated coverage on iBio, Inc. (NASDAQ:IBIO) with an Outperform rating and a $5.00 price target on Monday. The biotech company, currently valued at $18 million, has seen its stock decline over 70% in the past year, though InvestingPro data shows a strong 5% return over the past week.
The research firm cited its optimism for iBio’s lead asset IBIO-610, a first-in-class activin-E antibody designed to address therapeutic challenges in the growing obesity market.
Oppenheimer highlighted preclinical data validating IBIO-610’s potential to drive both fat loss and lean mass preservation, creating a differentiated profile compared to existing incretin therapies.
The firm forecasts approximately $1.2 billion in risk-adjusted peak sales for the drug by 2040 and estimates iBio’s current cash runway extends into 2028, beyond initial clinical results.
Upcoming catalysts for iBio include additional data presentation at ObesityWeek in November and potential read-across from WVE’s mechanistically similar program in the fourth quarter of 2025.
In other recent news, iBio, Inc. announced the pricing of a $50 million public offering to support its preclinical research programs. This offering includes pre-funded warrants and Series G and H warrants, with a combined public offering price of $0.699 per unit. The funds are expected to extend iBio’s cash runway to the first quarter of 2027. Brookline Capital Markets has reiterated its Buy rating on iBio, adjusting the price target to $1.60 from a previous $3.60, reflecting the impact of the recent public offering. Additionally, iBio received a notice from Nasdaq regarding a minimum bid price deficiency, as the company’s stock did not meet the $1.00 per share requirement for 30 consecutive business days. The company has until January 26, 2026, to regain compliance by maintaining a closing bid price of at least $1.00 for ten consecutive business days. Meanwhile, iBio remains on track to file an Investigational New Drug application for IBIO-600 in early 2026.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.