Why iBio's Stock Is Trading Higher Today

iBio, Inc. IBIO shares are trading higher after the company provided an update on its COVID-19 vaccine manufacturing capacity. The company estimates it can make roughly 500 million doses of COVID-19 vaccines from its FastPharming facility.

"If our own proprietary SARS-CoV-2 Virus-Like Particle program, IBIO-200, results in an approved vaccine, we estimate that we could make about 500 million doses of high-quality product annually at our Texas facility, depending upon the potency we see in the clinic," said Tom Isett, Co-Chairman and CEO of iBio.

iBio is a part of the health care sector. Its main business is commercialized technologies and product candidates and manufacturing services to clients and collaborators.

iBio shares were trading up 23.30% at $1.12 on Tuesday at time of publication. The company has a 52-week high of $3.40 and a 52-week low of $0.05.