Why iBio (IBIO) Stock Is Soaring Today

NEW YORK (TheStreet) -- Shares of iBio  (IBIO) soared 37.41% to $1.91 in morning trading Thursday after the company announced it has offered to aid the U.S. government by offering its proprietary antibody production technology to help deal with the ongoing Ebola virus outbreak.

The company responded to shareholder and media questions in a statement on Thursday and referred to its collaboration with Caliber Biotherapeutics. iBio said the "superior homogeneity of antibody glysolylation," or the addition of sugars to proteins, in plants could have significant efficacy advantages compared to similar antibodies produced in Chinese hamster ovary (CHO) cells.

iBio said it would offer its assistance to the federal government by offering its proprietary technology "for emergency use to enable the manufacture and yield optimization of certain experimental antibody-based drugs that address the current Ebola virus outbreak."

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More than 11.2 million shares had changed hands as of 10:02 a.m., which dwarfed the average volume of 266,576.

IBIO Chart IBIO data by YCharts

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