Shares of iBio, Inc.(IBIO) were in the spotlight on Monday after the company announced positive data from a study conducted in animals for its lead asset IBIO-600.
The company said data from a study on elderly and obese non-human primates shows that the anti-myostatin antibody could provide a weight loss treatment option while preserving and promoting muscle growth.
The study consisted of a single administration of two dose levels: 5mg/kg and a high dose of 50mg/kg.
Shares of the company were down by over 43% on Monday noon amid a broader market decline.
Notably, the study does not prove statistical significance and only involves a single administration of the antibody.
However, the study demonstrated an extended half-life for the antibody, potentially enabling a once three to six-month dosing schedule in humans, the company said.
CEO Martin Brenner said the company is on track for a regulatory submission for the antibody in the first quarter (Q1) of 2026.
iBio in-licensed IBIO-600 from AstralBio, Inc. in January. The company paid AstralBio $750,000 by issuing its common stock as an upfront payment and said AstralBio will also be eligible for development and commercialization milestone payments totaling up to $28 million.
On Monday, the company also announced preclinical data for an Activin E antibody and said that the antibody showed positive results in an exploratory study with obese mice, highlighting its potential as a treatment for obesity.
On Stocktwits, retail sentiment about iBio remained in the ‘bearish’ territory while message volume rose marginally within ‘low’ levels over the past 24 hours.
A Stocktwits user expressed surprise at the stock’s downward trajectory.
Another opined that the company needs to protect itself against any potential hostile takeovers.
iBio shares are down by over 24% this year and by over 19% over the past 12 months.
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