iBio, Inc. - IBIO STOCK NEWS

iBio, Inc. (NYSEA:IBIO) announced progress on its vaccine candidates IBIO-201 and IBIO-202, which target SARS-CoV-2. IBIO-201 has completed IND-enabling toxicology studies with no adverse effects reported. Meanwhile, IBIO-202, focusing on the N protein, aims to provide broader protection against variants and utilizes iBio's patented LicKM booster. The company is also pursuing multiple subunit vaccines. Four provisional patents supporting IBIO-202 have been filed, with preclinical results anticipated in early Q1 FY2022, highlighting iBio's commitment to advancing its vaccine development initiatives.

iBio, Inc. (NYSEA:IBIO) has settled its lawsuit with Fraunhofer USA, confirming its ownership of specific intellectual property for plant-based biopharmaceutical production. The settlement includes a fully paid-up license granted to Fraunhofer USA for recombinant protein manufacturing technologies. Compensation for legal fees was provided alongside future cash payments scheduled for March 2022 and March 2023. This resolution assures iBio's clients of ongoing support in developing plant-based biologics through its FastPharming® Technologies.

iBio will participate in the 33rd Annual Roth Conference held virtually from March 15-17, 2021. A pre-recorded presentation will be accessible on demand for all registered attendees. Starting March 15, the presentation will also be available on iBio's website under 'News & Events' in the Investors section. iBio is known for its FastPharming® System, which integrates advanced farming and glycosylation technologies to produce monoclonal antibodies, vaccines, and more. The company focuses on biopharmaceutical development targeting fibrotic and infectious diseases.

iBio, a biotech innovator, reported revenues of approximately $0.7 million for the fiscal quarter ending December 31, 2020, reflecting a $0.4 million increase year-over-year. However, operating expenses rose significantly to $8.3 million compared to $3.5 million in Q2 2019, primarily driven by increased R&D and G&A costs. The net loss was approximately $8.2 million or $0.04 per share, an improvement from a $25.4 million loss in the same quarter last year. iBio maintains a strong cash position with $107.6 million as of December 31, 2020.

iBio, Inc. (NYSEA:IBIO) has appointed Robert M. Lutz as its Chief Financial & Business Officer, effective March 4, 2021. Lutz brings over 25 years of experience, previously serving as CFO at Strongbridge Biopharma and holding leadership roles at Shire Pharmaceuticals. His expertise in corporate finance and business development is expected to enhance iBio's new business model and product pipeline. Lutz aims to leverage the company's plant-based production capabilities across various therapeutic areas to accelerate growth and shareholder value.

iBio, Inc. (NYSEA:IBIO) announced it will report its fiscal 2021 second quarter financial results on February 16, 2021, after market close. A webcast and conference call will follow at 4:30 p.m. Eastern Time for discussing results and providing updates. iBio is recognized for its FastPharming® System, which combines advanced technologies for biologics manufacturing. This system aims to produce high-quality monoclonal antibodies and vaccines. For more details, visit ibioinc.com.

iBio, a biotech innovator, has appointed Dr. Martin B. Brenner as Chief Scientific Officer, effective January 18, 2020. Dr. Brenner's extensive experience at leading pharmaceutical companies, including AstraZeneca and Pfizer, positions him to enhance iBio's proprietary product pipeline. His success at Pfenex, recently acquired for approximately $516 million, underscores his capabilities. Dr. Brenner aims to drive iBio's growth strategy focusing on pulmonology, oncology, and fibrotic diseases, leveraging the company's FastPharming® and Glycaneering™ technologies.

iBio, Inc. (NYSE: IBIO) has successfully closed its underwritten public offering of approximately 29.7 million shares of common stock, raising gross proceeds of $35 million. The underwriting team, led by Cantor Fitzgerald & Co., was granted a 30-day option to purchase an additional 4.4 million shares. The funds are designated to accelerate the development of biotherapeutic and vaccine candidates and for general corporate purposes, including acquisitions. This offering follows a shelf registration filed with the SEC, declared effective on December 7, 2020.

iBio announced a public offering of approximately 29.7 million shares of common stock, expecting to raise $35 million before expenses. The offering is set to close around December 10, 2020. An additional option allows the purchase of up to 4.4 million shares by the underwriter, Cantor Fitzgerald & Co. Proceeds are intended for accelerating development of biotherapeutics and vaccines, in-licensing assets, and general corporate purposes. Shares were priced at $1.50 each as of December 7, 2020.