- iBio ( NYSE: IBIO ) on Thursday said it would target MUC16, a protein expressed in several types of cancers, for its latest immuno-oncology program.
- Shares of the Bryan, Texas-based biotech rocketed up 131.1% to $1.74 after hours.
- According to the company, MUC16 is a large extracellular protein that is expressed in more than 80% of ovarian tumors.
- MUC16 is also often overexpressed in other types of solid tumors, including lung and pancreatic cancers.
- "Using its patented epitope steering AI platform, iBio's innovative approach to this challenge allows its 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," the company said in a statement .
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iBio shares more than double in value after hours on new immuno-oncology target program