There have been many companies that have seen their stocks soar owing to their work with regards to COVID 19 vaccines and one of those is Ibio Inc (NYSE: IBIO). The iBio stock has rallied by as much as 349% so far after it started programs on two such vaccines.
However, both of those vaccines are currently at the stage of preclinical development. The two programs have attracted legions of investors to the stock, however, it should be noted that there is a long road ahead for iBio.
According to preliminary data revealed in August last year, one of the vaccines displayed some promise. Other than its work with regards to these two vaccines, iBio is also involved in providing development and manufacturing services to small biotech firms.
The company is not yet profitable but those services make it possible for iBio to fund its vaccine development activities. It could be a good idea for investors to keep an eye out for fresh announcements from iBio regarding its development programs.