iBio Inc. (NYSEAMERICAN:IBIO) has announced that it will report fiscal first-quarter 2021 financial results on November 16, 2020, after the market close.
The company management will host a conference call and webcast at 4.30 PM Eastern Time to discuss the financial results and offer a corporate update. Investors can access the conference call and webcast on the company’s website at www.ibionic.com in the “News and Events “ investors section.
iBio employing FastPharming process in the manufacture of vaccines
Ahead of the release of the results, investors will be looking at the progress the company has made in developing a COVID-19 vaccine. The company focuses on developing plant-based vaccines, and in the summer, it entered a partnership with Planet Biotechnology to develop a COVID-19 treatment candidate. This project joins the efforts of the company to come up with a vaccine against the coronavirus. However, it is essential to note that iBio is relatively small compared to other companies that can quickly spike postie development regarding COVID-19.
The company also captures the attention of investors through its unique process of therapeutics production called FastPharming. The process uses plants in the reproduction of mass protein therapeutic components and can produce a component quickly compared to conventional systems. It offers the FastPharming services through its subsidiary, iBio CDMO LLC, which provides Contract Development Manufacturing Services. iBio says that the process can be scaled to produce up to 500 million. The company co-developed this innovation in conjunction with Texas A&M University, and iBio runs a 130,000 sq. ft. facility in Bryan, Texas.
iBio appoints Randy Maddux as COO
Recently the company appointed Randy J. Maddux as its COO effective December 1, 2020. Maddux brings over 20 years of business development, relationship management, and biologics drug development and manufacturing experience, vital in its growth. He was most recently a Chief Manufacturing and SVP at Aptevo Therapeutics, where he led its quality, analytical development and formulation, process development, and engineering and supply chain functions.