Market Overview

Ibio Rises Double-Digits (Again) Following 60 Minutes Report


Shares of Ibio Inc (NYSE: IBIO) continued higher Tuesday following the 60 Minutes broadcast about ZMapp on CBS by the late Bob Simon.

Between February 12 and February 17, the stock rose approximately 125 percent amid news that the company’s plant-based antibody manufacturing technology was being used to make the ebola vaccine, ZMapp, which was featured on 60 Minutes.

The broadcast would also be Bob Simon’s final report.

ZMapp is manufactured by Mapp Biopharmaceutical using tobacco.

As Bob Simon highlighted in the report, “ZMapp isn't easy to produce.”

Production of ZMapp requires six weeks. “The tobacco plants first have to be grown for 24 days. Then they're immersed in a liquid containing a gene that tells them to make special antibodies, which help the immune system fight viruses, in this case Ebola. As the plants grow, they copy those antibodies over and over again,” Simon explained.

Related Link: Benzinga's Top PreMarket Gainers

ZMapp production requires 6000 pounds of tobacco plants in order to turn out treatments for a few dozen people, according to the report.

Despite the production challenges, investors appear to see promise in the technology and have continued to buy shares in Ibio.

The stock recently traded at $1.10, up 22 percent on Tuesday.

Posted-In: 60 minutes Bob Simon CBS Mapp Biopharmaceutical ZMappLong Ideas Movers Trading Ideas


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