Welcome to our dedicated page for Ibio news (Ticker: IBIO), a resource for investors and traders seeking the latest updates and insights on Ibio stock.
iBio, Inc. (IBIO) is a biotechnology innovator providing end-to-end CDMO services and AI-driven solutions for biotherapeutics development. This page serves as the definitive source for all official company announcements, regulatory filings, and operational updates.
Investors and industry observers will find timely access to earnings reports, strategic partnerships, regulatory milestones, and technology advancements related to iBio's vaccine development and precision antibody platforms. Our curated feed ensures transparent tracking of the company's progress in accelerating biopharmaceutical production from discovery to commercialization.
All content is sourced directly from iBio's corporate communications, maintaining factual accuracy and compliance with financial disclosure standards. Bookmark this page for efficient monitoring of IBIO's developments in artificial intelligence applications for drug discovery, manufacturing expansions, and clinical trial updates.
iBio, Inc. (NYSEA:IBIO) reported its fiscal year 2024 financial results and provided a corporate update. The company, an AI-driven innovator of precision antibody immunotherapies, highlighted significant progress in the cardiometabolic and obesity space through a collaboration with AstralBio. iBio strengthened its financial position by eliminating debt and closing a fully subscribed financing.
Key developments include:
- Launch of ShieldTx™, a patent-pending antibody masking technology
- Sale of early-stage PD-1 asset to Otsuka Pharmaceutical for $1MM upfront with potential $52.5MM in downstream payments
- Advancement of Trop2 x CD3 molecule to clinical candidate selection stage
- Collaboration with AstralBio in the cardiometabolic and obesity space
- Completion of a 1-for-20 reverse stock split
- Raised approximately $24MM through public and private offerings
- Sale of manufacturing facility for $8.5MM, eliminating $13.2MM in secured debt
Financial results show revenues of $0.2 million, a 100% increase over fiscal 2023. The company reported a net loss of $24.9 million, a $40.1 million improvement from the previous year.
iBio (NYSEA:IBIO), an AI-driven innovator of precision antibody immunotherapies, has announced its participation in two upcoming investor conferences. CEO and Chief Scientific Officer Martin Brenner will deliver a virtual presentation at the H.C. Wainwright 26th Annual Global Investment Conference in New York City, September 9-11, 2024. The presentation will be available on-demand from September 9 and for 30 days after.
Additionally, iBio will attend the 2024 Cantor Global Healthcare Conference in New York City, September 17-19, 2024. CFO Felipe Duran will also be present at both events. Investors interested in one-on-one meetings with Dr. Brenner or Mr. Duran at either conference can schedule by emailing ir@ibioinc.com.
iBio (NYSEA:IBIO), an AI-driven innovator of precision antibody immunotherapies, has appointed Kristi Sarno as Senior Vice President of Business Development. With over 25 years of experience in the life sciences industry, Sarno will lead strategic alliances for iBio's machine learning platform for antibody discovery and pipeline of cardiometabolic targets. Her role includes establishing corporate strategy and overseeing business development activities.
Sarno's previous experience includes key positions at Pfenex Inc., Latham Biopharm Group, Crucell, and most recently as VP of Business Development and Corporate Strategy at Homology Medicines. At Homology, she led partnering discussions and played a important role in deal-making processes that brought over $130M to the company.
As part of her appointment, iBio has granted Sarno options to purchase 15,000 shares of its common stock as an inducement award, with an exercise price of $1.81 per share and a ten-year term.
iBio has closed the sale of its manufacturing facility in Bryan, Texas, to the Board of Regents of the Texas A&M University System for $8.5 million. The transaction eliminates approximately $13.2 million in secured debt from iBio's balance sheet, a move achieved through the issuance of $4.5 million in pre-funded warrants to Woodforest National Bank and utilizing $915K in restricted cash. This sale marks iBio's completed transition from a CDMO to an AI-driven biologics company, now headquartered in San Diego. Key recent developments include a $15 million private investment, $4.3 million from exercised warrants, and new partnerships that bolster their machine-learning drug discovery capabilities.
iBio (NYSEA:IBIO) announced its fiscal third-quarter 2024 financial results ending March 31, 2024. The company reported no revenue, a net loss from continuing operations of $2.6 million ($0.71 per share), showing improvement from the previous year's $6.3 million loss ($9.53 per share). Operating expenses decreased significantly, with R&D and G&A expenses down by 66% and 23%, respectively.
iBio strengthened its cash position through a $15 million private investment in public equity (PIPE) financing and an additional $4.3 million from warrants exercised. As of April 1, 2024, the company had $17.9 million in cash and equivalents.
In corporate developments, iBio entered a collaboration with AstralBio to develop antibodies targeting cardiometabolic diseases, including obesity. The company also sold its early-stage PD-1 asset to Otsuka Pharmaceutical for $1 million upfront and potential downstream payments of up to $52.5 million. iBio's CEO, Dr. Martin Brenner, joined the Board of Directors.
