Why iBio (IBIO) Stock Is Plummeting Today

NEW YORK (TheStreet) -- Shares of pharmaceutical company iBio  (IBIO) plummeted 25.2% to $2.40 in morning trading Monday after a Dallas judge confirmed 43 people who came into contact with Ebola patient Thomas Eric Duncan had been officially cleared after 21 days without symptoms.

Dallas County Judge Clay Jenkins, who is overseeing response efforts in the Texas city, said another person would be cleared Monday and four others would soon be cleared after the 21-day monitoring period.

The World Health Organization also announced Nigeria and Senegal are now free of the Ebola virus.

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iBio announced last week it had 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."

IBIO Chart IBIO data by YCharts

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