iBio, Inc. Files 2024 10-K Amendment

Ticker: IBIO · Form: 10-K/A · Filed: 2024-09-24T00:00:00.000Z

Sentiment: neutral

Topics: amendment, financials, pharmaceuticals

TL;DR

iBio filed its 2024 10-K amendment, showing $8.6M assets and $1M liabilities.

AI Summary

iBio, Inc. filed an amendment to its 2024 10-K on September 24, 2024, for the fiscal year ending June 30, 2024. The company, formerly known as iBioPharma, Inc., is involved in pharmaceutical preparations. Key financial data includes total assets of $8.62 million and total liabilities of $1.02 million as of June 30, 2024.

Why It Matters

This filing provides updated financial information and disclosures for iBio, Inc., which is crucial for investors to assess the company's financial health and strategic direction.

Risk Assessment

Risk Level: medium — The company operates in the pharmaceutical sector, which is inherently risky due to regulatory hurdles, R&D costs, and market competition.

Key Numbers

Key Players & Entities

FAQ

What is the primary business of iBio, Inc.?

iBio, Inc. is primarily involved in Pharmaceutical Preparations, as indicated by its SIC code 2834.

When did iBio, Inc. file its 10-K/A amendment?

iBio, Inc. filed its 10-K/A amendment on September 24, 2024.

What was iBio, Inc.'s former company name?

iBio, Inc.'s former company name was iBioPharma, Inc.

What were iBio, Inc.'s total assets as of June 30, 2024?

As of June 30, 2024, iBio, Inc.'s total assets were $8,623,676.

What were iBio, Inc.'s total liabilities as of June 30, 2024?

As of June 30, 2024, iBio, Inc.'s total liabilities were $1,015,505.

Filing Stats: 4,292 words · 17 min read · ~14 pages · Grade level 16.1 · Accepted 2024-09-24 16:11:53

Key Financial Figures

Filing Documents

Business

Business 1 Item 1A.

Risk Factors

Risk Factors 40 Item 1B. Unresolved Staff Comments 73 Item 1C. Cybersecurity 73 Item 2.

Properties

Properties 73 Item 3.

Legal Proceedings

Legal Proceedings 74 Item 4. Mine Safety Disclosures 74 PART II Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 75 Item 6. [Reserved] 75 Item 7.

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

Management's Discussion and Analysis of Financial Condition and Results of Operations 76 Item 7A.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 87 Item 8.

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data 87 Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 87 Item 9A.

Controls and Procedures

Controls and Procedures 87 Item 9B. Other Information 88 Item 9C Disclosure Regarding Foreign Jurisdictions That Prevent Inspections 88 PART III Item 10. Directors, Executive Officers and Corporate Governance 88 Item 11.

Executive Compensation

Executive Compensation 89 Item 12.

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 89 Item 13. Certain Relationships and Related Transactions, and Director Independence 89 Item 14. Principal Accountant Fees and Services 89 PART IV Item 15. Exhibits and Financial Statement Schedules 90 Item 16. Form 10-K Summary 90 Table of Contents SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS Unless the context requires otherwise, references in this Annual Report for the fiscal year ended June 30, 2024 (this "Annual Report") to "iBio," the "Company," "we," "us," "our" and similar terms mean iBio, Inc. Certain statements in this Annual Report, including, without limitation, statements under the heading "Management's Discussion and Analysis of Financial Condition and Results of Operations," include forward-looking statements as defined in Section 27A of the Securities Act of 1933 (the "Securities Act"), Section 21E of the Securities Exchange Act of 1934 (the "Exchange Act"), the Private Securities Litigation Reform Act of 1995 (the "PSLRA") or in releases made by the Securities and Exchange Commission (the "SEC"), all as may be amended from time to time. These cautionary statements are being made pursuant to the Securities Act, the Exchange Act and the PSLRA with the intention of obtaining the benefits of the "safe harbor" provisions of such laws. All statements contained in this Annual Report, other than statements that are purely historical, are forward-looking statements. Forward looking-statements can be identified by, among other things, the use of forward-looking language, such as the words "plans," "intends," "believes," "expects," "anticipates," "estimates," "projects," "potential," "may," "will," "would," "could," "should," "seeks," or "scheduled to," or other similar words, the negative of these terms, other variations of these terms or comparable language, or by discussion of strategy or intentions. Forward-looking statements a

Business

Item 1. Business. Overview iBio, Inc. (also referred to as "we", "us", "our", "iBio", or the "Company") is a preclinical stage biotechnology company leveraging the power of Artificial Intelligence (AI) for the development of hard-to-drug precision antibodies. Our proprietary technology stack is designed to minimize downstream development risks by employing AI-guided epitope-steering and monoclonal antibody (mAb) optimization. Since September 2022, iBio has focused on utilizing AI and machine learning (ML) to discover and design antibodies against hard-to-drug targets upon the acquisition of substantially all of the assets of RubrYc Therapeutics, Inc. ("RubrYc") was consummated. This acquisition commenced our transition to an AI-enabled biotech company and the closing of the sale of the Contract Development and Manufacturing Organization (CDMO) facility in Texas concluded our transition. These strategic decisions enable us to solely focus resources on the development of AI-powered precision antibodies, positioning iBio at the forefront of this exciting field. Our current therapeutics being developed are all in preclinical development and we have not completed any clinical trials for any vaccine or therapeutic protein product candidate produced using iBio technology and there is a risk that we will be unsuccessful in developing or commercializing any product candidates. One of the key features of iBio's technology stack is the patented epitope-steering AI-engine. This advanced technology allows us to target specific regions of proteins with precision enabling the creation of antibodies highly specific to therapeutically relevant regions within large target proteins, potentially improving their efficacy and safety profile. Another integral part of iBio's technology stack is the machine learning (ML) based antibody-optimizing StableHu technology. When coupled with our mammalian display technology, StableHu has been shown to accelerate the Lead Optimization process

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