IBIO Stock Is Soaring Today After iBio's Muscle-Preserving Drug Receives Approval For Human Trial In Australia

• iBio stated that it expects to dose the first participant in Australia with IBIO-600 in the second quarter.
• The company’s previously announced pre-clinical studies showed that IBIO-600 demonstrated a pharmacologic activity and an extended half-life of 40–52 days following a single administration in non-human primates.
• iBio stated that it also observed an increase of over 5.1% in lean muscle mass during its pre-clinical studies.

iBio Inc. (IBIO) shares gained nearly 10% in Wednesday’s pre-market trade after the company announced that its muscle-preserving drug has received approval for the first in-human trial in Australia.

iBio stated that IBIO-600 has been approved by Australia’s Therapeutic Goods Administration (TGA) to initiate a Phase 1 study evaluating the safety, tolerability, pharmacokinetics, and pharmacodynamics of the drug in overweight and obese adult participants.

Retail sentiment on Stocktwits around iBio trended in the ‘bullish’ territory at the time of writing.

First Participant Expected To Be Dosed In Q2

iBio stated that it expects to dose the first participant in Australia with IBIO-600 in the second quarter (Q2).

“While GLP-1 therapies have transformed the treatment landscape, significant gaps remain, particularly around the loss of muscle mass. We believe IBIO-600 has the potential to address this unmet need,” said iBio CEO Martin Brenner.

iBio’s previously announced pre-clinical studies showed that IBIO-600 demonstrated a pharmacologic activity and an extended half-life of 40–52 days following a single administration in non-human primates.

The company also observed an increase of over 5.1% in lean muscle mass during its pre-clinical studies.

“These findings, observed alongside reductions in fat mass and durable effects over time, support the advancement of IBIO-600 into clinical development,” the company added.

What Does IBIO-600 Do?

IBIO-600 is a long-acting monoclonal antibody that targets myostatin and GDF11, which are proteins that inhibit skeletal muscle growth.

It is designed to help preserve lean muscle and improve body composition in patients with obesity. iBio stated that it has the potential to be used alongside GLP-1 treatments to counter muscle loss during weight reduction.

IBIO stock is up 9% year-to-date and 40% over the past 12 months. The Vanguard Total Stock Market Index Fund ETF (VTI) is up 31% over the past 12 months, while the Vanguard Extended Market Index Fund ETF (VXF) is up 36% over the past 12 months.

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