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Here's Why iBio Stock Surged Friday

TheMotleyFool

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Here's Why iBio Stock Surged FridayPhoto, wide shot, wide-angle lens, Biotech company, Blue hour, twilight, cool, ISO1200, slow shutter speed, photo by Sebastião Salgado: https://img.theapi.app/temp/80e18bfd-1ff8-4487-af62-1cdb7de1ceb6.png

Shares of iBio (NYSEMKT: IBIO) climbed on Friday after the biotech announced plans to develop an intriguing second-generation vaccine candidate for COVID-19. By the close of trading, iBio's stock price was up 16.7% after rising as much as 41.3% earlier in the day.

iBio's experimental vaccine, IBIO-202, targets the nucleocapsid protein (N protein) of the novel coronavirus. N proteins tend to produce an immune response and remain relatively unchanged during mutations. By targeting the N protein, iBio hopes to develop a vaccine that will be highly effective against new coronavirus variants.

Image source: Getty Images.

Source Fool.com

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