iBio, Inc. Q2 2025: Assets $9.1M, Liabilities $1.9M

TL;DR

iBio Q2: Assets $9.1M, Liabilities $1.9M. Still standing.

AI Summary

iBio, Inc. filed a 10-Q for the period ending December 31, 2024. The company reported total assets of $9.132 million and total liabilities of $1.856 million for the quarter. Revenue for the period was not explicitly stated, but the filing references a Purchase and Sale Agreement dated May 17, 2024, and a Stock Purchase Agreement related to Rubryc Therapeutics, Inc. from August 23, 2021.

Why It Matters

This filing provides a snapshot of iBio's financial health, including its asset and liability levels, which are crucial for investors to assess the company's stability and operational capacity.

Risk Assessment

Risk Level: medium — The filing indicates a company with significant liabilities relative to its assets, and the absence of clear revenue figures suggests potential financial challenges.

Key Numbers

• $9.132M — Total Assets (As of December 31, 2024)
• $1.856M — Total Liabilities (As of December 31, 2024)
• 2024-05-17 — Purchase and Sale Agreement Date (Key contractual event)
• 2021-08-23 — Stock Purchase Agreement Date (Related to Rubryc Therapeutics, Inc.)

Key Players & Entities

• iBio, Inc. (company) — Filer of the 10-Q
• December 31, 2024 (date) — End of the reporting period
• $9.132 million (dollar_amount) — Total assets
• $1.856 million (dollar_amount) — Total liabilities
• May 17, 2024 (date) — Date of a Purchase and Sale Agreement
• Rubryc Therapeutics, Inc. (company) — Mentioned in relation to a Stock Purchase Agreement
• August 23, 2021 (date) — Date of a Stock Purchase Agreement

FAQ

Filing Documents

• ibio-20241231x10q.htm (10-Q) — 1953KB
• ibio-20241231xex31d1.htm (EX-31.1) — 15KB
• ibio-20241231xex31d2.htm (EX-31.2) — 18KB
• ibio-20241231xex32d1.htm (EX-32.1) — 10KB
• ibio-20241231xex32d2.htm (EX-32.2) — 6KB
• ibio-20241231x10q001.jpg (GRAPHIC) — 52KB
• ibio-20241231x10q002.jpg (GRAPHIC) — 93KB
• ibio-20241231x10q003.jpg (GRAPHIC) — 69KB
• 0001420720-25-000012.txt ( ) — 11283KB
• ibio-20241231.xsd (EX-101.SCH) — 73KB
• ibio-20241231_cal.xml (EX-101.CAL) — 54KB
• ibio-20241231_def.xml (EX-101.DEF) — 450KB
• ibio-20241231_lab.xml (EX-101.LAB) — 555KB
• ibio-20241231_pre.xml (EX-101.PRE) — 646KB
• ibio-20241231x10q_htm.xml (XML) — 1796KB

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION 3 Item 1.

Financial Statements

Financial Statements: Condensed Consolidated Balance Sheets as of December 31, 2024 (unaudited) and June 30, 2024 3 Unaudited Condensed Consolidated Statements of Operations for the three and six months ended December 31, 2024 and 2023 4 Unaudited Condensed Consolidated Statements of Stockholders' Equity for the three and six months ended December 31, 2024 and 2023 5 Unaudited Condensed Consolidated Statements of Cash Flows for the six months ended December 31, 2024 and 2023 6 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 37 Item 3 .

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 51 Item 4.

Controls and Procedures

Controls and Procedures 51

OTHER INFORMATION

PART II. OTHER INFORMATION 52 Item 1.

Legal Proceedings

Legal Proceedings 52 Item 1A.

Risk Factors

Risk Factors 52 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 54 Item 5. Other Information 54 Item 6. Exhibits 55

SIGNATURES

SIGNATURES 56 2 Table of Contents

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION

Condensed Consolidated Financial Statements (Unaudited)

Item 1. Condensed Consolidated Financial Statements (Unaudited). iBio, Inc. and Subsidiaries Condensed Consolidated Balance Sheets (In thousands, except share and per share amounts) December 31, June 30, 2024 2024 (Unaudited) Assets Current assets: Cash and cash equivalents $ 7,015 $ 14,210 Subscription receivable 13 — Promissory note receivable and accrued interest — 713 Prepaid expenses and other current assets 1,257 749 Total Current Assets 8,285 15,672 Restricted cash 223 215 Promissory note receivable 1,115 1,081 Finance lease right-of-use assets, net of accumulated amortization 203 339 Operating lease right-of-use asset 2,230 2,401 Fixed assets, net of accumulated depreciation 3,391 3,632 Intangible assets, net of accumulated amortization 6,108 5,368 Prepaid expenses - noncurrent 116 — Security deposits 26 26 Total Assets $ 21,697 $ 28,734 Liabilities and Stockholders' Equity Current liabilities: Accounts payable $ 614 $ 358 Accrued expenses 1,835 2,028 Finance lease obligations - current portion 205 299 Operating lease obligation - current portion 462 436 Equipment financing payable - current portion 155 178 Term promissory note - current portion 237 218 Insurance premium financing payable 601 123 Contract liabilities 600 200 Total Current Liabilities 4,709 3,840 Finance lease obligations - net of current portion — 53 Operating lease obligation - net of current portion 2,450 2,688 Equipment financing payable - net of current portion — 63 Term promissory note - net of current portion 643 766 Total Liabilities 7,802 7,410 Stockholders' Equity Series 2022 Convertible Preferred Stock - $ 0.001 par value; 1,000,000 shares authorized at December 31, 2024 and June 30, 2024; 0 shares issued and outstanding as of December 31, 2024 and June 30, 2024 — — Common stock - $ 0.001 par value; 275,000,000 shares aut

View Full Filing

View this 10-Q filing on SEC EDGAR