Core Points - iBio, Inc. has received approval to transfer its common stock listing from NYSE American to the Nasdaq Capital Market, with trading expected to commence on March 4, 2025, under the symbol "IBIO" [1][2] - The CEO of iBio expressed optimism that the move to Nasdaq will enhance the visibility of the company's stock, improve trading liquidity, and provide greater exposure to institutional investors [2] Company Overview - iBio, Inc. is a biotech company focused on developing next-generation biopharmaceuticals for various diseases, including cardiometabolic diseases, obesity, and cancer, utilizing AI and advanced computational biology [2] - The company aims to transform drug discovery and accelerate development timelines through proprietary 3D modeling and innovative drug discovery platforms, creating a pipeline of breakthrough antibody treatments [2]

Company Overview - iBio, Inc. is a preclinical stage biotechnology company focused on developing precision antibodies using AI and machine learning technologies[243]. - The company has developed EngageTx™ technology for targeting bi-specific molecules, enhancing preclinical safety assessments[244]. - iBio's ShieldTx™ technology allows antibodies to remain inactive until they reach diseased tissue, potentially improving efficacy and safety[245]. - The proprietary StableHu technology has been shown to reduce lead optimization times by utilizing single-shot multi-dimensional optimization techniques[246]. Collaborations and Partnerships - iBio entered into an exclusive agreement with AstralBio for the development of IBIO-600, an antibody targeting myostatin, and initiated a bispecific antibody program for obesity and cardiometabolic disorders[251]. - The collaboration with AstralBio includes the option to license three additional obesity and cardiometabolic targets, enhancing the preclinical pipeline[269]. - The company aims to form strategic partnerships to streamline drug discovery processes and reduce costs for pharmaceutical and biotechnology companies[251]. - The company is exploring partnerships in diverse therapeutic areas, including CNS, immunology, and vaccines, to license its AI technology stack[251]. - The company has initiated collaborations to explore future opportunities using its AI Drug Discovery Platform[275]. Drug Development Programs - The company initiated a program to develop IBIO-600, a long-acting anti-myostatin antibody, with preliminary data from a preclinical study in obese mice showing dose-dependent prevention of lean mass loss when combined with a GLP-1 receptor agonist[279]. - The bispecific antibody program targeting myostatin/activin A is in late discovery, with early in vitro findings indicating stronger differentiation of progenitor cells into mature muscle cells compared to single-target antibodies[283]. - The company has advanced IBIO-101, a second-generation anti-CD25 mAb, to the IND-enabling phase, demonstrating a 43% reduction in tumor growth in preclinical studies compared to untreated animals[291][301]. - The lead TROP-2 x CD3 bispecific antibody showed a significant 36% reduction in tumor size within 14 days after a single dose in a humanized mouse model[295]. - The anti-CCR8 antibody demonstrated a 22% reduction in tumor size in preclinical studies for colon cancer, highlighting its potential as a targeted therapy[306]. - The company is leveraging its AI Drug Discovery Platform to identify new therapeutic candidates, including antibodies targeting Activin E for cardiometabolic disorders[285]. - The company is focusing on developing molecules for obesity treatment that can be used in combination with or as alternatives to incretin drugs, prioritizing targets with strong genetic validation[276]. Financial Performance - Revenue for the three months ended December 31, 2024, was $0.2 million, compared to no revenue for the same period in 2023[315]. - Research and Development (R&D) expenses for the three months ended December 31, 2024, were $1.9 million, an increase of approximately $0.4 million from $1.5 million in 2023[316]. - General and Administrative (G&A) expenses for the three months ended December 31, 2024, were approximately $2.7 million, a decrease of $0.3 million from $3.0 million in 2023[317]. - Total operating expenses for the three months ended December 31, 2024, were approximately $4.6 million, compared to approximately $4.5 million in the same period of fiscal year 2023[318]. - Net loss from continuing operations for the three months ended December 31, 2024, was ($4.4) million, or ($0.48) per share, compared to a net loss of approximately ($4.5) million, or ($2.42) per share, in 2023[320]. - For the six months ended December 31, 2024, net cash used in operating activities was approximately ($7.6) million, compared to ($10.0) million for the same period in 2023[327]. - The accumulated deficit as of December 31, 2024, was approximately ($322.2) million, an increase from approximately ($313.8) million as of December 31, 2023[330]. - The company plans to fund future operations through cash on hand, proceeds from commercialization, and potential asset sales or collaborations, but there is no assurance of success[333]. - The company recognized a loss from discontinued operations of approximately ($3.7) million for the three months ended December 31, 2023, primarily due to an impairment of fixed assets[319]. Market and Risk Factors - The company faces a highly competitive environment with rising interest rates and liquidity challenges, potentially requiring adjustments to cash flow projections and valuation assumptions[343]. - Critical accounting estimates remain consistent with the previous annual report, with ongoing evaluations that could lead to changes in consolidated financial statements[344]. - The company is not required to provide quantitative and qualitative disclosures about market risk as a smaller reporting company[345]. - No triggering events were identified in the first half of fiscal 2025, with ongoing monitoring of IP value as part of annual accounting policy[342].

Financial Results Announcement - iBio, Inc. announced its financial results for the quarter ended December 31, 2024, on February 10, 2025[5] - The press release detailing the financial results is attached as Exhibit 99.1[8] Company Information - The company is listed on the NYSE American under the trading symbol IBIO[3] - iBio, Inc. is not classified as an emerging growth company[4] Report Content - The report does not include specific financial metrics or performance indicators in the provided content[6]

Core Insights - iBio, Inc. reported financial results for the second quarter ended December 31, 2024, highlighting advancements in its preclinical pipeline and corporate governance [1][4]. Corporate Developments - The company strengthened its leadership with key Board appointments, emphasizing its commitment to innovation and execution in developing next-generation therapeutics [2]. - iBio made significant progress in its preclinical pipeline, including the in-licensing of IBIO-600, a novel Activin E antibody discovery, and the initiation of a bispecific antibody program targeting myostatin/activin A [2][5]. Financial Performance - Revenue for the quarter was reported at $0.2 million, attributed to services provided to a collaborative partner [5]. - Research and Development (R&D) and General & Administrative (G&A) expenses totaled approximately $4.6 million, reflecting a slight increase of about 3% compared to the same period in fiscal 2024 [5]. - The net loss from continuing operations for the quarter was approximately $4.4 million, or $0.48 per share, compared to a net loss of approximately $4.5 million, or $2.42 per share, in the same period of fiscal 2024 [5]. Cash Position - As of December 31, 2024, the company reported cash, cash equivalents, and restricted cash of approximately $7.2 million, which includes $0.2 million of restricted cash [5].

Company Overview - iBio Inc is a biotech company leveraging AI and advanced computational biology to develop next-generation biopharmaceuticals for cardiometabolic diseases, obesity, cancer, and other hard-to-treat diseases [1] - The company combines proprietary 3D modeling with innovative drug discovery platforms to create a pipeline of breakthrough antibody treatments [1] - iBio's mission is to transform drug discovery, accelerate development timelines, and unlock new possibilities in precision medicine [1] Recent Developments - iBio announced the closing of a private placement offering with members of its Board of Directors and Officers, totaling over $650,000 [3] - The investments from the Board of Directors underscore their confidence and support in iBio's strategy to advance as a clinical-stage biotech focused on developing therapeutics for cardiometabolic diseases, obesity, and other challenging diseases [4] Pipeline and Technology - iBio is building an innovative pipeline of therapeutics in cardiometabolic disease and obesity that aims to promote healthy weight loss [6] - The company's breakthrough antibody treatments are designed to reduce obesity while preserving muscle mass, promoting muscle growth, and preventing weight regain [6] - iBio's machine-learning-based drug discovery platform is driving the development of these candidates, which are being engineered for high developability and an extended half-life potentially enabling reduced dosing than current obesity therapeutics [6] Forward-Looking Statements - The press release contains forward-looking statements regarding iBio's innovative pipeline of therapeutics in cardiometabolic disease and obesity, including their potential to promote healthy weight loss and address significant unmet medical needs [5] - These statements are based on current estimates and assumptions and are subject to various risks and uncertainties [5]

Core Insights - iBio, Inc. has successfully closed a private placement offering totaling over $650,000 with its Board of Directors and Officers, indicating strong internal support for the company's strategic direction [1][2] Company Overview - iBio is an AI-driven biotech company focused on developing precision antibody immunotherapies for cardiometabolic diseases, obesity, cancer, and other challenging diseases [4] - The company utilizes advanced computational biology and proprietary 3D modeling to create a pipeline of innovative therapeutics aimed at addressing significant unmet medical needs [4] Product Pipeline - iBio is developing a pipeline of therapeutics specifically targeting cardiometabolic diseases and obesity, with a focus on promoting healthy weight loss [3] - The antibody treatments are designed to reduce obesity while preserving muscle mass, promoting muscle growth, and preventing weight regain [3] - The company's machine-learning-based drug discovery platform is aimed at creating candidates with high developability and an extended half-life, potentially allowing for reduced dosing compared to current obesity therapeutics [3]

Core Insights - iBio, Inc. has developed an antibody that inhibits Activin E, a significant therapeutic target for cardiometabolic disorders and obesity, showcasing the potential of its AI-driven drug discovery platform [1][2][3] - The achievement is considered an industry first and strengthens iBio's pipeline for innovative therapeutics aimed at addressing high unmet medical needs in cardiometabolic health [2][4] Company Developments - iBio's Machine-Learning Antibody Engine successfully identified five critical epitope regions on the Activin E protein, enabling the development of synthetic epitopes and antibodies without the need to produce Activin E itself [2][3] - Preclinical studies indicate strong antibody binding to Activin E, demonstrating sub-nanomolar kinetics and complete blockade of its signaling in human adipocytes, which is crucial for metabolic health [3] - iBio has entered a collaboration with AstralBio, granting AstralBio an exclusive license to engineer four targets for cardiometabolic disease, while iBio retains the option to license three targets from AstralBio [4][5] Industry Context - Activin E is supported as a promising therapeutic target based on human genetics, with individuals having a protective mutation in the INHBE gene showing a healthier cardiometabolic profile [2] - The current GLP-1 class of therapeutics has limitations, highlighting the need for next-generation solutions that can effectively address obesity and its associated health risks [3] - The collaboration between iBio and AstralBio aims to accelerate the development of novel therapeutics for cardiometabolic diseases, leveraging advanced technology for rapid progress [5][6]

Financial Results Announcement - iBio, Inc. announced its financial results for the quarter ended September 30, 2024[4]. - The press release detailing the financial results was issued on November 12, 2024[4]. Company Information - The company is listed on NYSE American under the trading symbol IBIO[2]. - iBio, Inc. is not classified as an emerging growth company[3]. Regulatory Information - The financial information provided is not deemed "filed" under the Securities Exchange Act of 1934[5]. - The report was signed by Marc A. Banjak, Chief Legal Officer of iBio, Inc.[7].

SAN DIEGO, Nov. 12, 2024 (GLOBE NEWSWIRE) -- iBio, Inc. (NYSEA:IBIO) today reported financial results for the fiscal first quarter ended September 30, 2024 and provided a corporate update on its progress. “In our fiscal first quarter we advanced our collaboration with AstralBio, manufacturing and dosing a lead molecule with therapeutic potential for muscle wasting and obesity in non-human primate in vivo studies and progressing early work on additional targets. We strengthened our leadership team by hiring ...

Financial Performance - Revenues for the fiscal year ended June 30, 2024, were approximately $0.225 million, a 100% increase compared to fiscal 2023[7] - iBio's consolidated net loss for the fiscal year ended June 30, 2024, was $24.9 million, a decrease of $40.1 million compared to 2023, primarily due to reduced expenses from discontinued operations and cost-saving initiatives[8] Expenses and Cost Management - Research and development expenses decreased by $5.1 million to $5.185 million, while general and administrative expenses decreased by $7.3 million to $11.674 million compared to fiscal 2023[8] - The company eliminated approximately $13.2 million in secured debt from its balance sheet by selling its manufacturing facility for $8.5 million and satisfying all obligations related to the debt[6] Financing Activities - iBio closed a public offering in the fiscal second quarter for gross proceeds of approximately $4.5 million and a private investment in public equity financing in the fiscal fourth quarter for gross proceeds of approximately $15.0 million[5] - The company strengthened its cash position by approximately $4.5 million from previously issued warrants during the third and fourth quarters[6] Cash and Assets - iBio's cash, cash equivalents, and restricted cash totaled $14.4 million as of June 30, 2024[8] - Cash and cash equivalents increased significantly from $4,301,000 in June 30, 2023 to $14,210,000 in June 30, 2024, marking an increase of over 230%[13] - Total current assets decreased from $26,259,000 in June 30, 2023 to $15,672,000 in June 30, 2024, representing a decline of approximately 40%[13] - The total assets decreased from $41,207,000 in June 30, 2023 to $28,734,000 in June 30, 2024, a decline of approximately 30%[13] Liabilities and Equity - Total liabilities decreased from $25,826,000 in June 30, 2023 to $7,410,000 in June 30, 2024, a reduction of approximately 71%[13] - Stockholders' equity increased from $15,381,000 in June 30, 2023 to $21,324,000 in June 30, 2024, reflecting an increase of about 38%[14] - The accumulated deficit widened from $(288,940,000) in June 30, 2023 to $(313,847,000) in June 30, 2024, indicating a decrease in retained earnings[14] - Additional paid-in capital rose from $304,320,000 in June 30, 2023 to $335,162,000 in June 30, 2024, an increase of approximately 10%[14] Shareholder Information - The number of common shares issued and outstanding increased from 1,015,505 to 8,623,676 between June 30, 2023 and June 30, 2024[14] Current Liabilities - Current liabilities related to assets held for sale decreased from $1,941,000 in June 30, 2023 to $0 in June 30, 2024[13] - The finance lease obligations - net of current portion decreased from $351,000 in June 30, 2023 to $53,000 in June 30, 2024, a reduction of about 85%[13] Clinical and Collaborative Developments - The company advanced a Trop2 x CD3 molecule to clinical candidate selection stage, demonstrating a significant 36% reduction in tumor size in a humanized mouse model[4] - iBio entered into a collaboration with AstralBio, Inc. to develop four targets in the cardiometabolic and obesity space, with rights to license up to three targets prior to clinical entry[4] Audit and Going Concern - The company received an audit opinion with a going concern paragraph, indicating substantial doubt about its ability to continue as a going concern[9]