Shares of iBio (NYSE: IBIO) skyrocketed by more than 125% in pre-market trading on Friday after the AI-driven innovator of precision antibody immunotherapies announced MUC16, a protein expressed in several types of cancers, as a top target for its latest immuno-oncology program.
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MUCC16 is a “large extracellular protein expressed on more than 80% of ovarian tumors.” According to the company, “tumor cells can evade an immune attack by shedding or glycosylating MUC16, making it difficult for traditional antibody therapies to effectively target and destroy the cancer cells.”
The company plans to use its patented epitope steering AI platform to target the new monoclonal antibodies (mAbs) to “bind to a specific region of MUC16 that is not shed or glycosylated, circumventing both tumor evasion mechanisms and potentially providing a powerful tool in the fight against cancer.”
Even with today’s surge, IBIO stock has tanked by more than 90% in the past year.