iBio Taps Eli Lilly Veteran Molly Carr as CMO to Lead Obesity Pipeline
IBIO has more than doubled off its 52-week low of $0.556.
Summary
iBio appointed Dr. Molly Carr, former clinical head of Eli Lilly's insulin franchise, as Chief Medical Officer. She brings over 30 years of endocrinology and metabolic disease experience, directly relevant to iBio's obesity candidates IBIO-600 and IBIO-610. The hire signals a push toward late-stage development, following recent Phase 1 dosing and strong preclinical data. As an inducement, she received options on 430,000 shares at $1.40, aligning her interests with clinical execution. This strengthens the leadership team after the May appointment of Dr. Elizabeth Stoner and the cash runway extension to Q4 2028.
At the time of this announcement, IBIO was trading at $1.43 on NASDAQ in the Life Sciences sector, with a market capitalization of approximately $70.5M. The 52-week trading range was $0.56 to $3.82. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: GlobeNewswire.