Shares of iBio Inc. /zigman2/quotes/207088894/composite IBIO -2.87% rocketed 64% on heavy volume in premarket trading Friday, as the biotherapeutics and contract manufacturing company is set to be added to the Russell 2000 /zigman2/quotes/210598147/delayed RUT +0.20% and Russell 3000 /zigman2/quotes/210598149/delayed RUA +0.77% indexes. The index inclusion will be effective after the market opens on June 29. Trading volume swelled to 9.8 million shares, making iBio's stock the most actively traded ahead of the open. "Being included among the companies that comprise the Russell indexes is a significant milestone for iBio, which, we believe reflects the significant progress we have made towards building shareholder value over the past few months," said iBio Chief Executive Tom Isett. IBio's stock has soared more than 6-fold year to date (up 546.6%), while the Russell 2000 has lost 15.3% and the S&P 500 /zigman2/quotes/210599714/realtime SPX +0.83% has slipped 4.6%. IBio is working on developing COVID-19 vaccine platforms.
This replaces an earlier item that incorrectly reported the date that the stock effectively is included in the Russell indexes. It has been corrected.