Bitcoin price today: gains to $120k, near record high on U.S. regulatory cheer
In a recent transaction, Gary Sender, a director at iBio, Inc. (NYSE:IBIO), acquired 9,191 shares of the company's common stock. The purchase, valued at approximately $24,999, was executed on January 10, 2025, at a price of $2.72 per share. According to InvestingPro data, this transaction comes as the stock has shown remarkable strength, posting a 118% return over the past year. This acquisition was made under a Securities Purchase Agreement with iBio, Inc. Following the transaction, Sender directly owns 9,191 shares of the company. InvestingPro analysis shows the company maintains a healthy liquidity position with a current ratio of 3.37, while operating with moderate debt levels. Investors tracking this stock should note that iBio's next earnings report is scheduled for February 13, 2025. For deeper insights and additional ProTips on iBio's financial health, visit InvestingPro.
In other recent news, iBio Inc., in partnership with AstralBio Inc., has made significant strides in the development of an innovative antibody aimed at tackling cardiometabolic disorders and obesity. The antibody, which targets Activin E, a protein associated with these conditions, is a pioneering accomplishment within the industry. This development is a testament to iBio's potent drug discovery platform that leverages artificial intelligence to expedite antibody immunotherapies.
The newly developed antibody has shown a strong binding to Activin E in preclinical studies and demonstrated potential in blocking the protein's signaling, which is a crucial factor in metabolic health regulation. This could pave the way for treatments that reduce abdominal fat, lower the risk of type 2 diabetes and cardiovascular disease, and preserve muscle mass.
Additionally, iBio and AstralBio have entered into an exclusive licensing agreement that allows AstralBio to use iBio's Drug Discovery (NASDAQ:WBD) Platform to engineer four targets for cardiometabolic disease treatment. The agreement also includes an option for iBio to license three cardiometabolic targets from AstralBio, with the rights to develop, manufacture, and commercialize these targets.
Despite the company's EBITDA standing at -$14.75M in the last twelve months, iBio's strong liquidity position, indicated by a current ratio of 3.37, ensures continued support for its research initiatives. While no specific timelines for the clinical development of the new antibody have been disclosed, the swift progress of the joint myostatin program and the development of the new antibody against Activin E highlight the effectiveness of iBio's technology platform and the scientific expertise of both teams.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.