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

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.

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