Is It Too Late to Buy iBio Stock?
Stocks of coronavirus vaccine developers garnered investors' attention due to their potential to decisively end the COVID-19 pandemic and allow economies to return to normal via mass immunization. Right now, there are nearly 50 experimental SARS-CoV-2 vaccines in clinical trials and 89 vaccine candidates still in preclinical studies.
The COVID-19 vaccine race is coming to an end, as the U.S. Food and Drug Administration (FDA) may issue emergency use authorization to one or more promising late-stage candidates as early as November. Stemming from a lack of progress, investors began to ditch coronavirus vaccine developer iBio (NYSEMKT: IBIO) stock en masse. Since reaching a 52-week high in August, iBio stock is now down over 60%, wiping off nearly $700 million in market cap. Today, let's take a look at why the opportunity to make money on iBio is over and why investors should avoid this stock.
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Source Fool.com
