Why iBio Stock Soared Today

Why iBio Stock Soared Today
·2 min read

Shares of iBio (NYSEMKT: IBIO) surged on Wednesday after the biologics manufacturer announced it had successfully resolved a multiyear lawsuit with Fraunhofer USA. The settlement confirmed iBio's ownership of key intellectual property related to its plant-based biopharmaceutical-production system. The agreement will also see iBio grant Fraunhofer USA a license to use its protein-manufacturing technology.