Ibio Stock Price, News & Analysis

iBio, a biotech innovator, reported revenues of approximately $0.7 million for the fiscal quarter ending December 31, 2020, reflecting a $0.4 million increase year-over-year. However, operating expenses rose significantly to $8.3 million compared to $3.5 million in Q2 2019, primarily driven by increased R&D and G&A costs. The net loss was approximately $8.2 million or $0.04 per share, an improvement from a $25.4 million loss in the same quarter last year. iBio maintains a strong cash position with $107.6 million as of December 31, 2020.

iBio, Inc. (NYSEA:IBIO) has appointed Robert M. Lutz as its Chief Financial & Business Officer, effective March 4, 2021. Lutz brings over 25 years of experience, previously serving as CFO at Strongbridge Biopharma and holding leadership roles at Shire Pharmaceuticals. His expertise in corporate finance and business development is expected to enhance iBio's new business model and product pipeline. Lutz aims to leverage the company's plant-based production capabilities across various therapeutic areas to accelerate growth and shareholder value.

iBio, Inc. (NYSEA:IBIO) announced it will report its fiscal 2021 second quarter financial results on February 16, 2021, after market close. A webcast and conference call will follow at 4:30 p.m. Eastern Time for discussing results and providing updates. iBio is recognized for its FastPharming® System, which combines advanced technologies for biologics manufacturing. This system aims to produce high-quality monoclonal antibodies and vaccines. For more details, visit ibioinc.com.

iBio, a biotech innovator, has appointed Dr. Martin B. Brenner as Chief Scientific Officer, effective January 18, 2020. Dr. Brenner's extensive experience at leading pharmaceutical companies, including AstraZeneca and Pfizer, positions him to enhance iBio's proprietary product pipeline. His success at Pfenex, recently acquired for approximately $516 million, underscores his capabilities. Dr. Brenner aims to drive iBio's growth strategy focusing on pulmonology, oncology, and fibrotic diseases, leveraging the company's FastPharming® and Glycaneering™ technologies.

iBio, Inc. (NYSE: IBIO) has successfully closed its underwritten public offering of approximately 29.7 million shares of common stock, raising gross proceeds of $35 million. The underwriting team, led by Cantor Fitzgerald & Co., was granted a 30-day option to purchase an additional 4.4 million shares. The funds are designated to accelerate the development of biotherapeutic and vaccine candidates and for general corporate purposes, including acquisitions. This offering follows a shelf registration filed with the SEC, declared effective on December 7, 2020.

iBio announced a public offering of approximately 29.7 million shares of common stock, expecting to raise $35 million before expenses. The offering is set to close around December 10, 2020. An additional option allows the purchase of up to 4.4 million shares by the underwriter, Cantor Fitzgerald & Co. Proceeds are intended for accelerating development of biotherapeutics and vaccines, in-licensing assets, and general corporate purposes. Shares were priced at $1.50 each as of December 7, 2020.

iBio, Inc. (NYSEA:IBIO) has announced an underwritten public offering of its common stock, with an additional 30-day option for underwriters to purchase up to 15% more shares. Cantor Fitzgerald & Co. is the sole book-running manager for the offering. The company aims to use the net proceeds to accelerate the development of its biotherapeutic and vaccine candidates, in-license biopharmaceutical assets in various therapeutic areas, and cover general corporate needs. The offering is being made under a previously effective shelf registration statement with the SEC.

iBio, Inc. (IBIO) announced its first Statement of Work under a Master Services Agreement with ATB Therapeutics to produce bioengineered antibody-toxin fusion proteins known as atbodies™. This collaboration aims to aid in developing treatments for cancers. Both companies expressed optimism regarding the partnership's potential to speed up the manufacturing process for clinical trials. iBio leverages its FastPharming® System to enhance production capabilities, reinforcing its position as a leader in plant-based biologics.

iBio Announces Patent Issuance for Antifibrotic Development

iBio has secured U.S. Patent No. 10,844,392, enhancing its FastPharming® System. This patent is crucial for the production of endostatin-derived peptides, supporting the development of IBIO-100 for fibrotic disorders like systemic scleroderma and idiopathic pulmonary fibrosis. The patent includes 19 claims and expires in June 2036. iBio plans to initiate IND-enabling studies for IBIO-100 in 2021, expanding its therapeutic offerings and intellectual property portfolio in the biotechnology field.