Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q Commission File Number 001-35023 iBio, Inc. ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2025 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ___ to ___ (Exact name of registrant as specified in its charter) Delaware 26-2797813 (State or other juris ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (date of earliest event reported): May 2, 2025 iBio, Inc. (Exact name of registrant as specified in charter) Delaware (State or other jurisdiction of incorporation) 001-35023 26-2797813 (Commission File Number) (IRS Employer Identification No.) | Title of each class | Trading Symbol(s) | Name of each exchange on which | | --- | ...

SAN DIEGO, May 02, 2025 (GLOBE NEWSWIRE) -- iBio, Inc. (Nasdaq:IBIO), today reported financial results for the third quarter ended March 31, 2025, and provided a corporate update on its progress. “During the third quarter we were able to broaden our access to investors given our move to Nasdaq and subsequently in April, strengthened our financial position with a $6.2 million warrant-inducement equity raise, positioning us for continued growth and keeping us on track for regulatory submission of IBIO-600 in ...

Core Points - iBio, Inc. has entered into an agreement with existing institutional investors to exercise warrants for 5,626,685 shares at a reduced price of $1.11 per share, generating approximately $6.2 million in gross proceeds [1][2] - In exchange for exercising the existing warrants, investors will receive new warrants to purchase up to 11,253,370 shares at an exercise price of $0.86, expiring in five years [2] - The transaction is expected to close around April 30, 2025, pending customary closing conditions [2][3] Financial Details - The gross proceeds from the warrant exercise will be approximately $6.2 million before deducting advisory fees and other expenses [1] - The new warrants allow for the purchase of shares at a significantly lower price compared to the existing warrants [2] Company Overview - iBio, Inc. is a biotech company focused on developing precision antibody therapies using AI and advanced computational biology for various diseases [6] - The company aims to transform drug discovery and accelerate development timelines to address unmet medical needs [6]

Core Insights - iBio, Inc. has announced promising pharmacokinetics data for IBIO-600, a long-acting anti-myostatin antibody, suggesting a potential human half-life of up to 130 days, which could position it as a best-in-class treatment for muscle preservation and weight loss [1][4][5] - The company is on track to submit a regulatory application for IBIO-600 in Q1 2026, highlighting its commitment to innovation in obesity treatment [1][5] Group 1: IBIO-600 Development - The pharmacokinetics study involved non-human primates (NHPs) and indicated a half-life of 40 to 52 days in NHPs, with human estimates ranging from 57 to 130 days [4] - The study demonstrated a dose-dependent increase in lean mass and a reduction in fat mass, with the low-dose group showing a 3.1% increase in lean mass and the high-dose group a 5.1% increase after 8 weeks [3] - The potential for a dosing schedule of once every 3 to 6 months could significantly reduce the treatment burden for patients [4][5] Group 2: Activin E Antibody - iBio has also disclosed preclinical data for a first-in-class Activin E antibody, which effectively blocks Activin E signaling and shows promise as a novel obesity treatment [5] - In an exploratory study with obese mice, the Activin E antibody as a monotherapy resulted in a 4% fat-selective weight loss and an 18% reduction in total body fat compared to placebo [5] - When combined with semaglutide, the Activin E antibody enhanced total weight loss by an additional 9%, leading to an overall weight reduction of 34% and a 72% reduction in body fat [5]

Core Points - iBio, Inc. has received approval to transfer its common stock listing from NYSE American to the Nasdaq Capital Market, with trading expected to commence on March 4, 2025, under the symbol "IBIO" [1][2] - The CEO of iBio expressed optimism that the move to Nasdaq will enhance the visibility of the company's stock, improve trading liquidity, and provide greater exposure to institutional investors [2] Company Overview - iBio, Inc. is a biotech company focused on developing next-generation biopharmaceuticals for various diseases, including cardiometabolic diseases, obesity, and cancer, utilizing AI and advanced computational biology [2] - The company aims to transform drug discovery and accelerate development timelines through proprietary 3D modeling and innovative drug discovery platforms, creating a pipeline of breakthrough antibody treatments [2]

Company Overview - iBio, Inc. is a preclinical stage biotechnology company focused on developing precision antibodies using AI and machine learning technologies[243]. - The company has developed EngageTx™ technology for targeting bi-specific molecules, enhancing preclinical safety assessments[244]. - iBio's ShieldTx™ technology allows antibodies to remain inactive until they reach diseased tissue, potentially improving efficacy and safety[245]. - The proprietary StableHu technology has been shown to reduce lead optimization times by utilizing single-shot multi-dimensional optimization techniques[246]. Collaborations and Partnerships - iBio entered into an exclusive agreement with AstralBio for the development of IBIO-600, an antibody targeting myostatin, and initiated a bispecific antibody program for obesity and cardiometabolic disorders[251]. - The collaboration with AstralBio includes the option to license three additional obesity and cardiometabolic targets, enhancing the preclinical pipeline[269]. - The company aims to form strategic partnerships to streamline drug discovery processes and reduce costs for pharmaceutical and biotechnology companies[251]. - The company is exploring partnerships in diverse therapeutic areas, including CNS, immunology, and vaccines, to license its AI technology stack[251]. - The company has initiated collaborations to explore future opportunities using its AI Drug Discovery Platform[275]. Drug Development Programs - The company initiated a program to develop IBIO-600, a long-acting anti-myostatin antibody, with preliminary data from a preclinical study in obese mice showing dose-dependent prevention of lean mass loss when combined with a GLP-1 receptor agonist[279]. - The bispecific antibody program targeting myostatin/activin A is in late discovery, with early in vitro findings indicating stronger differentiation of progenitor cells into mature muscle cells compared to single-target antibodies[283]. - The company has advanced IBIO-101, a second-generation anti-CD25 mAb, to the IND-enabling phase, demonstrating a 43% reduction in tumor growth in preclinical studies compared to untreated animals[291][301]. - The lead TROP-2 x CD3 bispecific antibody showed a significant 36% reduction in tumor size within 14 days after a single dose in a humanized mouse model[295]. - The anti-CCR8 antibody demonstrated a 22% reduction in tumor size in preclinical studies for colon cancer, highlighting its potential as a targeted therapy[306]. - The company is leveraging its AI Drug Discovery Platform to identify new therapeutic candidates, including antibodies targeting Activin E for cardiometabolic disorders[285]. - The company is focusing on developing molecules for obesity treatment that can be used in combination with or as alternatives to incretin drugs, prioritizing targets with strong genetic validation[276]. Financial Performance - Revenue for the three months ended December 31, 2024, was $0.2 million, compared to no revenue for the same period in 2023[315]. - Research and Development (R&D) expenses for the three months ended December 31, 2024, were $1.9 million, an increase of approximately $0.4 million from $1.5 million in 2023[316]. - General and Administrative (G&A) expenses for the three months ended December 31, 2024, were approximately $2.7 million, a decrease of $0.3 million from $3.0 million in 2023[317]. - Total operating expenses for the three months ended December 31, 2024, were approximately $4.6 million, compared to approximately $4.5 million in the same period of fiscal year 2023[318]. - Net loss from continuing operations for the three months ended December 31, 2024, was ($4.4) million, or ($0.48) per share, compared to a net loss of approximately ($4.5) million, or ($2.42) per share, in 2023[320]. - For the six months ended December 31, 2024, net cash used in operating activities was approximately ($7.6) million, compared to ($10.0) million for the same period in 2023[327]. - The accumulated deficit as of December 31, 2024, was approximately ($322.2) million, an increase from approximately ($313.8) million as of December 31, 2023[330]. - The company plans to fund future operations through cash on hand, proceeds from commercialization, and potential asset sales or collaborations, but there is no assurance of success[333]. - The company recognized a loss from discontinued operations of approximately ($3.7) million for the three months ended December 31, 2023, primarily due to an impairment of fixed assets[319]. Market and Risk Factors - The company faces a highly competitive environment with rising interest rates and liquidity challenges, potentially requiring adjustments to cash flow projections and valuation assumptions[343]. - Critical accounting estimates remain consistent with the previous annual report, with ongoing evaluations that could lead to changes in consolidated financial statements[344]. - The company is not required to provide quantitative and qualitative disclosures about market risk as a smaller reporting company[345]. - No triggering events were identified in the first half of fiscal 2025, with ongoing monitoring of IP value as part of annual accounting policy[342].

Financial Results Announcement - iBio, Inc. announced its financial results for the quarter ended December 31, 2024, on February 10, 2025[5] - The press release detailing the financial results is attached as Exhibit 99.1[8] Company Information - The company is listed on the NYSE American under the trading symbol IBIO[3] - iBio, Inc. is not classified as an emerging growth company[4] Report Content - The report does not include specific financial metrics or performance indicators in the provided content[6]

Core Insights - iBio, Inc. reported financial results for the second quarter ended December 31, 2024, highlighting advancements in its preclinical pipeline and corporate governance [1][4]. Corporate Developments - The company strengthened its leadership with key Board appointments, emphasizing its commitment to innovation and execution in developing next-generation therapeutics [2]. - iBio made significant progress in its preclinical pipeline, including the in-licensing of IBIO-600, a novel Activin E antibody discovery, and the initiation of a bispecific antibody program targeting myostatin/activin A [2][5]. Financial Performance - Revenue for the quarter was reported at $0.2 million, attributed to services provided to a collaborative partner [5]. - Research and Development (R&D) and General & Administrative (G&A) expenses totaled approximately $4.6 million, reflecting a slight increase of about 3% compared to the same period in fiscal 2024 [5]. - The net loss from continuing operations for the quarter was approximately $4.4 million, or $0.48 per share, compared to a net loss of approximately $4.5 million, or $2.42 per share, in the same period of fiscal 2024 [5]. Cash Position - As of December 31, 2024, the company reported cash, cash equivalents, and restricted cash of approximately $7.2 million, which includes $0.2 million of restricted cash [5].

Core Insights - iBio, Inc. has successfully closed a private placement offering totaling over $650,000 with its Board of Directors and Officers, indicating strong internal support for the company's strategic direction [1][2] Company Overview - iBio is an AI-driven biotech company focused on developing precision antibody immunotherapies for cardiometabolic diseases, obesity, cancer, and other challenging diseases [4] - The company utilizes advanced computational biology and proprietary 3D modeling to create a pipeline of innovative therapeutics aimed at addressing significant unmet medical needs [4] Product Pipeline - iBio is developing a pipeline of therapeutics specifically targeting cardiometabolic diseases and obesity, with a focus on promoting healthy weight loss [3] - The antibody treatments are designed to reduce obesity while preserving muscle mass, promoting muscle growth, and preventing weight regain [3] - The company's machine-learning-based drug discovery platform is aimed at creating candidates with high developability and an extended half-life, potentially allowing for reduced dosing compared to current obesity therapeutics [3]