Benzinga | May 7, 2021 07:01AM EDT

iBio Stock Is Trading Higher After Announcing Next-Gen COVID-19 Vaccine Candidate

* iBio Inc (NYSE: IBIO) has provided an update on its IBIO-201 program and reported its progress in developing a second-generation subunit vaccine candidate, IBIO-202, being designed for the prevention of SARS-CoV-2 infection.

* IBIO-201 combines antigens derived from the spike protein ("S protein") fused with iBio's patented LicKM booster molecule

* It recently completed IND-enabling toxicology studies. No adverse effects at low or high doses were identified.

* The Company also reported on the development of IBIO-202, a subunit vaccine candidate that targets the nucleocapsid protein ("N protein") of SARS-CoV-2.

* "In light of the successful global roll-out of COVID-19 vaccines targeting the S protein and the emergence of variant strains of the disease, we decided to focus our efforts on the continued development of IBIO-202 as a differentiated vaccine candidate," said Tom Isett, Chairman, and CEO.

* iBio has expressed N protein antigens and initiated intramuscular and intranasal preclinical studies to identify favorable antigen-adjuvant combinations using its plant-based FastPharming System.

* Results are expected in early Q1 FY2022.

* Price Action: IBIO shares are 30.4% at $1.80 during premarket trading on the last check Friday.