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SAN DIEGO—Parada Antonio Bernardino Guimaraes, a director at iBio, Inc. (NYSE:IBIO), made a significant purchase of the company's common stock, according to a recent SEC filing. On January 10, 2025, Guimaraes acquired 183,823 shares at a price of $2.72 per share, totaling $499,998. The purchase comes as iBio's stock has shown remarkable strength, posting a 118% return over the past year, with analysts setting a target price of $3.60. InvestingPro subscribers can access detailed insider trading patterns and 8 additional key insights about IBIO's market position.
The shares were acquired through MagicRoad SGPS, Unipessoal LDA, where Guimaraes serves as the sole director and shareholder. This transaction was executed under a Securities Purchase Agreement with iBio, Inc., further consolidating Guimaraes's investment in the company. Following this transaction, MagicRoad holds the newly acquired shares directly, with Guimaraes retaining sole voting and investment power over these securities. The company maintains a healthy financial position with a current ratio of 3.37, indicating strong liquidity, as it prepares for its next earnings release on February 13, 2025.
In other recent news, iBio Inc., in collaboration with AstralBio Inc., has made significant strides in the medical field by developing an antibody that targets Activin E, a protein associated with cardiometabolic disorders and obesity. This advancement is a potential industry first, as stated by iBio's CEO, Martin Brenner. The company's proprietary Machine-Learning Antibody Engine was key in identifying crucial regions on the Activin E protein, leading to the development of synthetic epitopes and the subsequent creation of antibodies without the need to produce Activin E itself.
Preclinical studies have demonstrated the antibody's strong binding to Activin E and its potential in blocking the protein's signaling, a factor crucial in regulating metabolic health. The inhibition of Activin E could pave the way for treatments that reduce abdominal fat and lower the risk of type 2 diabetes and cardiovascular disease, while preserving muscle mass.
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. Furthermore, iBio retains the option to license three cardiometabolic targets from AstralBio and will have the rights to develop, manufacture, and commercialize these targets. Despite the company's EBITDA of -$14.75M in the last twelve months, iBio maintains strong liquidity with a current ratio of 3.37, supporting its research initiatives. These recent developments underscore the effectiveness of iBio's technology platform and the scientific expertise of both teams.
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