Ibio (NYSEMKT:IBIO) stock is rising higher on Tuesday as investors react to the company reaching a research collaboration agreement with the National Institutes of Health (NIH).
This will see the company teaming up with the NIH’s National Institute of Allergy and Infectious Diseases (NIAID). The two will work together on the development of iBio’s artificial intelligence (AI) epitope steering platform.
This platform is being used to help create a vaccine for Lassa fever. This is a viral disease that is endemic in areas of West Africa. Currently, there’s no vaccine that prevents people from contracting the virus.
Martin Brenner, DVM, Ph.D., interim CEO of iBio, said this about the agreement:
“This collaboration with the NIH represents a potential new application for, and validation of our patented AI discovery platform. While we remain focused on deploying our core technology to internally discover and develop therapeutic candidates for oncology, we believe our differentiated vaccine development capabilities could also make us an ideal partner for RNA- and peptide-based vaccine developers.”
IBIO Stock Movement on Tuesday
With today’s news comes heavy trading of IBIO stock. As of this writing, more than 2 million shares have been traded. For comparison, the company’s daily average trading volume is about 592,000 shares.
To go along with that, IBIO stock is up 16.1% as of Tuesday morning.
There’s plenty more stock market news traders will want to know about below!
We’ve got all of the hottest stock market news for traders to read about on Tuesday! Among that is what’s happening with shares of Plug Power (NASDAQ:PLUG), Bonso Electronics International (NASDAQ:BNSO), and Bonso Electronics International (NASDAQ:BNSO) today. You can catch up on all of this news at the following links!
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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
