iBio, Inc. Files 10-Q for Period Ending December 31, 2023

Ticker: IBIO · Form: 10-Q · Filed: 2024-02-09T00:00:00.000Z

Sentiment: neutral

Topics: 10-Q, iBio, Pharmaceuticals, Financial Report, SEC Filing

TL;DR

<b>iBio, Inc. filed its Q2 FY2024 10-Q report, detailing its financial status and operations.</b>

AI Summary

iBio, Inc. (IBIO) filed a Quarterly Report (10-Q) with the SEC on February 9, 2024. iBio, Inc. filed a 10-Q report for the period ending December 31, 2023. The filing covers the second quarter of fiscal year 2024. The company's fiscal year ends on June 30. iBio, Inc. was formerly known as iBioPharma, Inc. and InB:Biotechnologies, Inc. The company is incorporated in Delaware and operates in the Pharmaceutical Preparations industry (SIC 2834).

Why It Matters

For investors and stakeholders tracking iBio, Inc., this filing contains several important signals. This filing provides investors with an updated view of iBio's financial health and operational progress for the second quarter of its fiscal year. Understanding the details within this 10-Q is crucial for assessing the company's performance, strategic direction, and potential risks moving forward.

Risk Assessment

Risk Level: medium — iBio, Inc. shows moderate risk based on this filing. The company's financial performance and operational status are subject to the inherent risks of the pharmaceutical industry, including regulatory hurdles and market competition, as indicated by its SIC code and the nature of a 10-Q filing.

Analyst Insight

Review the detailed financial statements and risk factors in the 10-Q to assess iBio's current financial position and future prospects.

Key Numbers

Key Players & Entities

Forward-Looking Statements

FAQ

When did iBio, Inc. file this 10-Q?

iBio, Inc. filed this Quarterly Report (10-Q) with the SEC on February 9, 2024.

What is a 10-Q filing?

A 10-Q is a quarterly financial report with unaudited financials, management discussion, and interim business updates. This particular 10-Q was filed by iBio, Inc. (IBIO).

Where can I read the original 10-Q filing from iBio, Inc.?

You can access the original filing directly on the SEC's EDGAR system. The filing is publicly available and includes all exhibits and attachments submitted by iBio, Inc..

What are the key takeaways from iBio, Inc.'s 10-Q?

iBio, Inc. filed this 10-Q on February 9, 2024. Key takeaways: iBio, Inc. filed a 10-Q report for the period ending December 31, 2023.. The filing covers the second quarter of fiscal year 2024.. The company's fiscal year ends on June 30..

Is iBio, Inc. a risky investment based on this filing?

Based on this 10-Q, iBio, Inc. presents a moderate-risk profile. The company's financial performance and operational status are subject to the inherent risks of the pharmaceutical industry, including regulatory hurdles and market competition, as indicated by its SIC code and the nature of a 10-Q filing.

What should investors do after reading iBio, Inc.'s 10-Q?

Review the detailed financial statements and risk factors in the 10-Q to assess iBio's current financial position and future prospects. The overall sentiment from this filing is neutral.

Risk Factors

Key Dates

Filing Stats: 4,500 words · 18 min read · ~15 pages · Grade level 17.8 · Accepted 2024-02-09 16:06:07

Filing Documents

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION 3 Item 1. Condensed Consolidated Financial Statements (Unaudited) 3 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 44 Item 3 .

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 57 Item 4.

Controls and Procedures

Controls and Procedures 57

OTHER INFORMATION

PART II. OTHER INFORMATION 57 Item 1.

Legal Proceedings

Legal Proceedings 57 Item 1A.

Risk Factors

Risk Factors 57 Item 5. Other Information 61 Item 6. Exhibits 62

SIGNATURES

SIGNATURES 63 2 Table of Contents

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION

Consolidated Financial Statements (Unaudited)

Item 1. Consolidated Financial Statements (Unaudited). iBio, Inc. and Subsidiaries Condensed Consolidated Balance Sheets (In thousands, except share and per share amounts) December 31, June 30, 2023 2023 (Unaudited) (See Note 2) Assets Current assets: Cash and cash equivalents $ 2,788 $ 4,301 Restricted cash 1,057 3,025 Subscription receivable — 204 Prepaid expenses and other current assets 894 664 Current assets held for sale 14,960 18,065 Total Current Assets 19,699 26,259 Restricted cash 215 253 Promissory note receivable and accrued interest 1,750 1,706 Finance lease right-of-use assets, net of accumulated amortization 475 610 Operating lease right-of-use asset 2,565 2,722 Fixed assets, net of accumulated depreciation 3,890 4,219 Intangible assets, net of accumulated amortization 5,378 5,388 Security deposits 50 50 Total Assets $ 34,022 $ 41,207 Liabilities and Stockholders' Equity Current liabilities: Accounts payable $ 1,859 $ 1,849 Accrued expenses 3,757 4,034 Finance lease obligations - current portion 285 272 Operating lease obligation - current portion 412 389 Equipment financing payable - current portion 168 160 Insurance premium financing payable 481 — Term note payable - net of deferred financing costs 12,655 12,937 Current liabilities related to assets held for sale 1,936 1,941 Total Current Liabilities 21,553 21,582 Finance lease obligations - net of current portion 205 351 Operating lease obligation - net of current portion 2,912 3,125 Equipment financing payable - net of current portion 155 241 Accrued expenses - noncurrent — 527 Total Liabilities 24,825 25,826 Stockholders' Equity Series 2022 Convertible Preferred Stock - $ 0.001 par value; 1,000,000 shares authorized at December 31, 2023 and June 30, 2023; 0 and 0 shares issued and outstanding as of December 31, 2023 and June 30, 2023, re

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