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 (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.
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