Ibio is Working on a Coronavirus Vaccine, Stock SOars
The coronavirus epidemic has been a boon for many companies that are working on developing vaccines for the virus, and one such company is Ibio Inc (NYSE: IBIO). The stock soared by as much as 174% on Friday due to the hope that iBio is going to get into a partnership with Beijing CC-Pharming Ltd to develop the plant-based vaccine.
The iBio stock gained as much as 689% last week, and it is likely that it is going to be on investors’ radars this week as well. It should be noted that it was in early February by iBio. At the time, the company stated that it is going to deploy its FastPharming facility to develop the vaccine.
The FastPharming facility has been created by Ibio Inc (NYSE: IBIO) to deliver countermeasures to epidemics quickly. The company’s manufacturing expertise and CC-Pharming’s work in developing vaccines for similar products are going to be leveraged in order to create the coronavirus vaccine.
This past Friday, Ibio Inc (NYSE: IBIO) also filed a shelf registration by way of which it aims to raise as much as $100 million from securities. This week, the company is going to host its Annual Meeting of Investors, and many are expecting iBio to make a major announcement. That is another reason for the rally.
The Next Big CBD Player:- CBD Unlimited Inc (OTCMKTS: EDXC)
Another stock that could be worth tracking at this point is that of CBD Unlimited Inc (OTCMKTS: EDXC), which has slowly but surely grown into one of the major players in the CBD space. The company produces hemp-based CBD products and also makes products meant for animals. Currently, the company’s products are available in more than 5600 stores across the United States.
The company is looking to reach more than 20000 stores in 2020 and eventually hit the store count of more than 50000. In addition to that, it has also got the clearance to distribute its products in Puerto Rico and South Africa.
Source: Stock Market Press
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