Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended December 31, 2025 Delaware 26-2797813 (State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identification No.) 11750 Sorrento Valley Road, Suite 200, San Diego, CA 92121 (Address of principal executive offices) (Zip Code) OR ☐ TRANSITION REPORT PURSUANT TO SECTION ...

Exhibit 99.1 · Closed a $26 million private placement financing led by Frazier Life Sciences, announced on January 9th. The net proceeds from the raise are intended for the advancement of key preclinical cardiometabolic programs, including IBIO-610, IBIO-600, and the myostatin and activin A bispecific programs, as well as general corporate purposes. With this funding the Company's cash runway now extends into third quarter of fiscal year 2028. · Presented new non-human primate (NHP) data on IBIO-610, a pote ...

Secured $26 Million in PIPE Financing Led by a Top-Tier Biotech Investor to Advance Preclinical Programs and Extend Cash Runway Progressed Pipeline with New Preclinical Data and Scientific Presentations at Leading Industry Conferences SAN DIEGO, Feb. 10, 2026 (GLOBE NEWSWIRE) -- iBio, Inc. (NASDAQ:IBIO), an AI-driven innovator of precision antibody therapies, today reported financial results for the second quarter ended Dec. 31, 2025, and provided a corporate update on its progress. “We have significantly a ...

Wall Street expects a year-over-year increase in earnings on lower revenues when iBio, Inc. (IBIO) reports results for the quarter ended December 2025. While this widely-known consensus outlook is important in gauging the company's earnings picture, a powerful factor that could impact its near-term stock price is how the actual results compare to these estimates.The stock might move higher if these key numbers top expectations in the upcoming earnings report. On the other hand, if they miss, the stock may m ...

Core Viewpoint - iBio, Inc. has announced a private placement financing expected to generate approximately $26 million in gross proceeds to advance its preclinical programs and extend its cash runway into 2028 [1][3]. Group 1: Financing Details - The private placement financing is led by Frazier Life Sciences and includes participation from existing healthcare-focused institutional investors [2]. - iBio is selling 11,061,738 shares of common stock at a purchase price of $2.35 per share, with the offering expected to close around January 13, 2026 [4]. - The financing will provide funds to support the development of preclinical cardiometabolic programs, including IBIO-610 and IBIO-600, and other pipeline assets [3]. Group 2: Use of Proceeds - The net proceeds from the offering will be used to advance key development milestones in preclinical programs and to fund working capital requirements [3]. - The financing is expected to extend iBio's cash runway into calendar 2028, allowing for continued development of its biopharmaceutical pipeline [3]. Group 3: Company Overview - iBio, Inc. is a biotech company utilizing AI and advanced computational biology to develop biopharmaceuticals for various diseases, including cardiometabolic diseases and cancer [7]. - The company aims to transform drug discovery and accelerate development timelines through innovative drug discovery platforms [7].

Summary of iBio Conference Call Company Overview - **Company**: iBio - **Industry**: Biotechnology, specifically focusing on antibody discovery and therapeutics for obesity and cardiometabolic diseases [2][3] Core Points and Arguments Product Pipeline - iBio's lead program is **iBio-610**, a long-acting Activin E antibody, which is the first and only molecule of its kind [2] - Non-human primate pharmacokinetic (PK) data indicates a predicted half-life of up to **100 days** in humans, allowing for potential dosing twice a year [2] - Anticipated IND filing in Australia by the end of **2026**, with the first patient expected in **2027** [3] Unique Discovery Approach - iBio employs a combination of generative AI and wet lab biology to enhance antibody development, focusing on specific epitopes for targeted action [4][5] - The company utilizes a **single-shot multidimensional optimization** approach to create highly developable long-acting antibodies [6] Addressing Gaps in Current Treatments - Current GLP-1 treatments for obesity have limitations, including adverse effects like nausea and vomiting, which restrict weight loss to about **10%** in real-world scenarios [9] - iBio's Amylin molecule is designed to selectively target Amylin receptors without affecting calcitonin receptors, potentially offering a more effective alternative to GLP-1s [10] - Concerns about muscle loss and increased fracture risk associated with GLP-1 treatments highlight the need for alternatives that preserve muscle mass [11][13] Target Populations - iBio identifies **sarcopenic obesity** as a significant market, with approximately **10 million** individuals needing fat loss without muscle loss [17] - The company also sees potential in addressing cardiovascular disease and chronic kidney disease in obese populations, leveraging their bispecific molecules [18] Partnership Strategy - iBio is actively seeking partnerships with companies that have established credibility in the obesity space to co-develop their myostatin program [19][20] - The company believes that achieving regulatory milestones will enhance partnership discussions [20] Financial Position and Strategy - iBio recently raised **$100 million**, providing cash runway into the second quarter of **2027** [34] - The company is looking to offload legacy immuno-oncology assets to focus on cardiometabolic obesity programs [35] Upcoming Milestones - The most significant upcoming milestone is the entry of **IBIO-600** into the clinic, expected in the first half of **next year**, which will validate the company's platform [36][37] - The Activin E program is also highlighted as a unique asset, being the only antibody against Activin E in development [37][38] Additional Important Points - iBio emphasizes the importance of safety in early clinical trials, aiming to establish early signs of efficacy through imaging techniques [28] - The company is positioned to learn from other long-acting therapies in development, potentially accelerating their clinical timelines [30][31] This summary encapsulates the key points discussed during the iBio conference call, focusing on the company's innovative approach to treating obesity and its strategic plans for future development and partnerships.

Core Insights - iBio, Inc. will participate in the 8th Annual Evercore Healthcare Conference from December 2-4, 2025, in Miami, highlighting its focus on advancing its next-generation obesity pipeline [1][2]. Company Overview - iBio is an AI-driven biotech company specializing in precision antibody therapies for cardiometabolic diseases, obesity, cancer, and other challenging conditions [4]. - The company utilizes proprietary 3D modeling and innovative drug discovery platforms to develop breakthrough antibody treatments aimed at significant unmet medical needs [4]. Key Events - Martin Brenner, CEO and Chief Scientific Officer of iBio, will engage in a fireside chat on December 4, 2025, discussing the promising non-human primate data for IBIO-610, a potential first-in-class Activin E antibody [2]. - Felipe Duran, CFO of iBio, will be available for one-on-one meetings during the conference, providing opportunities for direct engagement with investors [3]. Additional Information - A livestream of the conference will be available, and a replay will be posted on the Investor section of the iBio website [3].

Core Insights - iBio, Inc. reported a quarterly loss of $0.11 per share, which was worse than the Zacks Consensus Estimate of a loss of $0.07, marking an earnings surprise of -57.14% [1] - The company generated revenues of $0.1 million for the quarter ended September 2025, consistent with the Zacks Consensus Estimate, compared to zero revenues a year ago [2] - iBio shares have declined approximately 49.4% year-to-date, contrasting with the S&P 500's gain of 16.4% [3] Company Performance - Over the last four quarters, iBio has exceeded consensus EPS estimates only once [2] - The current consensus EPS estimate for the upcoming quarter is -$0.05 on revenues of $0.1 million, and for the current fiscal year, it is -$0.40 on revenues of $0.5 million [7] - The estimate revisions trend for iBio was mixed prior to the earnings release, resulting in a Zacks Rank 3 (Hold) for the stock, indicating expected performance in line with the market [6] Industry Context - The Medical - Biomedical and Genetics industry, to which iBio belongs, is currently ranked in the top 34% of over 250 Zacks industries, suggesting a favorable outlook compared to lower-ranked industries [8] - Empirical research indicates a strong correlation between near-term stock movements and trends in earnings estimate revisions, which can be tracked by investors [5]

Product Development - iBio's preclinical product candidate pipeline includes IBIO-610, which demonstrated an 8.9% reduction in body weight and a 26% reduction in fat mass in a diet-induced obesity mouse model [236]. - The combination therapy of IBIO-610 with semaglutide resulted in a 35.3% weight loss, compared to a 27.8% reduction with semaglutide alone [237]. - IBIO-610 exhibited a terminal half-life of approximately 33.2 days in non-human primates, with a projected human half-life estimated between 47 to 100 days [239]. - The bispecific antibody targeting myostatin and Activin A is in late discovery, optimizing parameters such as binding affinity and stability [241]. - IBIO-600, a long-acting anti-myostatin antibody, showed a half-life of approximately 40 to 52 days in non-human primates, with a projected human half-life of 57 to 147 days [245]. - Early preclinical results for an amylin receptor antibody showed a ~60% reduction in acute food intake in a proof-of-concept study [249]. - iBio's AI Drug Discovery Platform enables rapid generation of antibody therapeutics characterized by high specificity and optimized developability [250]. - The platform integrates epitope engineering, a proprietary antibody library, and antibody optimization technologies to enhance the probability of success in drug development [251]. - The company has a pipeline of pre-clinical programs, including IBIO-600 and IBIO-610, focusing on obesity and cardiometabolic diseases, with ongoing efforts to seek partnerships for these programs [270]. Financial Performance - For the three months ended September 30, 2025, the company incurred a net loss of approximately $5.7 million, or $0.11 per share, compared to a net loss of approximately $4.0 million, or $0.46 per share for the same period in 2024 [287]. - Research and Development (R&D) expenses increased to $3.6 million for the three months ended September 30, 2025, up from $1.3 million in the same period of 2024, reflecting a rise of approximately 176% [284]. - General and Administrative (G&A) expenses decreased to approximately $2.5 million for the three months ended September 30, 2025, down from $2.8 million in the same period of 2024, a reduction of approximately 11% [285]. - Total operating expenses for the three months ended September 30, 2025, were approximately $6.1 million, compared to approximately $4.1 million in the same period of 2024, indicating an increase of approximately 49% [286]. - The company recognized revenue of $0.1 million for services provided to a collaborative partner during the three months ended September 30, 2025, while no revenue was recognized in the same period of 2024 [283]. Cash Position and Liquidity - As of September 30, 2025, the company had total current assets of approximately $50.8 million, including approximately $28.1 million in cash and cash equivalents [278]. - The company raised gross proceeds of approximately $50 million from an underwritten public offering in August 2025, with net proceeds of approximately $46.5 million after deducting underwriting discounts and commissions [276]. - The company’s current cash position is believed to be sufficient to fund operations for at least 12 months from the date of filing the Quarterly Report [279]. - The company’s liquidity position is challenged by a history of significant losses and negative cash flows from operations, raising substantial doubt about its ability to continue as a going concern [280]. - Net cash used in operating activities was approximately $5.7 million for the three months ended September 30, 2025, compared to $3.7 million for the same period in 2024, primarily due to funding net losses [288]. - Net cash used in investing activities was approximately $21.5 million for the three months ended September 30, 2025, attributed to the purchase of debt securities and fixed assets, while it was $0.7 million for the same period in 2024 [289]. - Net cash provided by financing activities was approximately $46.7 million for the three months ended September 30, 2025, from the sale of securities, offset by debt payments, compared to $0.2 million used in financing activities in 2024 [290]. - As of September 30, 2025, the accumulated deficit was approximately $337.9 million, increasing from $317.8 million as of September 30, 2024 [292]. - Current cash, cash equivalents, and investments in debt securities were approximately $49.6 million as of September 30, 2025, expected to support operations into the fourth quarter of fiscal year 2027 [292]. Future Outlook and Risks - The company plans to fund future operations through cash on hand, commercialization proceeds, and potential asset sales or collaborations, but there is no assurance of success [293]. - The company may need to adjust cash flow projections and valuation assumptions due to competitive pressures and rising interest rates, which could lead to future impairments [304]. - No triggering events for impairment were identified during the three months ended September 30, 2025, but the company will continue to monitor the value of its intangible assets [303]. - The company does not participate in off-balance sheet arrangements or transactions with unconsolidated entities as of September 30, 2025 [294]. - The company anticipates commencing its first human clinical trials for IBIO-610 in early 2027 [228].

Revenue - Revenue for the three months ended September 30, 2025, was $0.1 million, compared to no revenue for the same period in 2024[8] Expenses - Research and Development expenses increased to $3.6 million for the three months ended September 30, 2025, from $1.3 million in 2024, representing an increase of approximately 176.9%[8] - General and Administrative expenses decreased to approximately $2.5 million for the three months ended September 30, 2025, from $2.8 million in 2024, a decrease of about 10.7%[8] - Total operating expenses for the three months ended September 30, 2025, were $6.05 million, compared to $4.11 million in 2024, an increase of approximately 47.2%[11] Financial Position - iBio held cash, cash equivalents, and investments in debt securities of $49.6 million as of September 30, 2025, sufficient to support operations into the fourth quarter of fiscal year 2027[8] - iBio's total assets increased to $64.16 million as of September 30, 2025, from $23.19 million as of June 30, 2025[13] Net Loss - iBio reported a net loss of $5.72 million for the three months ended September 30, 2025, compared to a net loss of $3.99 million for the same period in 2024[11] Capital Raising - iBio closed a $50 million underwritten public offering with the potential for an additional $50 million in gross proceeds upon full exercise of the common warrants, totaling up to $100 million before deducting underwriting discounts and commissions[3] Compliance - iBio regained compliance with Nasdaq Listing Rule 5550(a)(2) on November 4, 2025[3] Product Development - The predicted human half-life of IBIO-610 is up to 100 days, allowing for dosing as infrequent as twice per year[3]