iBio (IBIO) extends cash runway into 2028 as IBIO-600 enters Phase 1

Q: How did iBio (IBIO) perform financially in fiscal year 2026?

iBio reported revenue of $0.1 million and a net loss of $33.0 million for the year ended June 30, 2026, compared with $0.4 million of revenue and an $18.4 million net loss in 2025. Operating loss was $35.1 million versus $18.6 million a year earlier.

Q: What is iBio’s (IBIO) cash position and balance sheet strength as of June 30, 2026?

As of June 30, 2026, iBio held $56.4 million in cash and cash equivalents and $31.6 million in investments in debt securities, for approximately $88.0 million combined. Total assets were $99.1 million, liabilities $13.4 million, and stockholders’ equity $85.7 million.

Q: What key R&D and expense trends did iBio (IBIO) report for 2026?

Research and development expenses increased to $19.6 million from $8.3 million, mainly due to about $8.4 million higher consultant and outside service spending and a $2.5 million development milestone. General and administrative expenses were stable at about $10.6 million versus $10.7 million.

Q: What major pipeline milestones did iBio (IBIO) highlight in this update?

iBio highlighted becoming a clinical-stage company with initiation of a Phase 1 clinical trial of IBIO-600, a long-acting anti-myostatin monoclonal antibody. It also reported preclinical progress on IBIO-610, focused on fat-selective weight loss and potential use alongside GLP-1 therapies.

Q: How long does iBio (IBIO) expect its cash runway to last?

The company stated that its successful financings extended its cash runway into fiscal year 2028, providing resources to advance its obesity and cardiometabolic pipeline toward and into clinical development.

Q: Did iBio (IBIO) record any impairment charges in fiscal 2026?

Yes. iBio recorded a $5.0 million impairment of an indefinite-lived intangible asset related to IBIO-101 in fiscal 2026. No such impairment was recorded in fiscal 2025.

Filing Impact

(Moderate)

Filing Sentiment

(Neutral)

Form Type

8-K

Rhea-AI Filing Summary

iBio, Inc. (IBIO), a clinical-stage biotechnology company focused on long-acting antibody therapeutics, reported results for the fiscal year ended June 30, 2026 and highlighted its transition into the clinic with initiation of a Phase 1 trial for IBIO-600, an anti-myostatin antibody targeting muscle preservation and body composition.

Revenue was $0.1 million, down from $0.4 million in 2025. Research and development expenses rose to $19.6 million from $8.3 million, driven by higher spending on consultants, non-human primate studies, CMC activities, and a $2.5 million development milestone. An impairment charge of $5.0 million was recorded on the IBIO-101 intangible asset. Net loss widened to $33.0 million from $18.4 million. iBio reported cash, cash equivalents and investments in debt securities of approximately $88.0 million as of June 30, 2026, with total stockholders’ equity of $85.7 million, and stated that successful financings extended its cash runway into fiscal year 2028 while it advances its obesity and cardiometabolic pipeline.

Positive

Cash and investments strengthened to ~$88.0 million as of June 30, 2026, compared with $8.6 million of cash and cash equivalents a year earlier, significantly bolstering liquidity.
Total stockholders’ equity increased to $85.7 million from $14.9 million, reflecting capital raises that support continued development of the company’s therapeutic pipeline.
Transition to clinical stage with IBIO-600 Phase 1 trial marks advancement of the obesity and muscle-preservation program into human studies.

Negative

Revenue declined to $0.1 million for fiscal 2026 from $0.4 million in 2025, reflecting reduced operating income.
Net loss widened to $33.0 million from $18.4 million, driven by higher R&D spending and a $5.0 million impairment of an indefinite-lived intangible asset.

Filing Explained

The filing reports 55,698,561 common shares outstanding at June 30, 2026 versus 19,349,201 a year earlier, reducing existing holders’ percentages absent offsets.

The August 28 Form 8-K furnishes fiscal-year 2026 results and reports the company’s balance-sheet share counts as of June 30, 2026.

Common shares issued and outstanding rose from 19,349,201 on June 30, 2025 to 55,698,561 on June 30, 2026; under the disclosed dilution mechanics, that larger share base reduces an existing holder’s percentage ownership absent offsetting changes.

The filing distinguishes 275,000,000 authorized common shares from the 55,698,561 issued and outstanding, and reports zero preferred shares issued and outstanding.

Although the release calls the financings successful, it gives no consideration, use-of-proceeds, conversion, or transaction-level dilution terms, so this filing does not establish which financing mechanics produced the share-count change or the amount of associated dilution.

8-K Event Classification

2 items: 2.02, 9.01

2 items

Item 2.02 Results of Operations and Financial Condition Financial

Disclosure of earnings results, typically an earnings press release or preliminary financials.

Item 9.01 Financial Statements and Exhibits Exhibits

Financial statements, pro forma financial information, or exhibit attachments filed with this report.

Key Figures

Revenue: $100 thousand Research and development expenses: $19,643 thousand Net loss: $33,044 thousand +5 more

8 metrics

Revenue $100 thousand Fiscal year ended June 30, 2026; down from $400 thousand in 2025

Research and development expenses $19,643 thousand Fiscal year ended June 30, 2026; up from $8,312 thousand in 2025

Net loss $33,044 thousand Fiscal year ended June 30, 2026; compared with $18,377 thousand in 2025

Cash and cash equivalents $56,395 thousand As of June 30, 2026; previously $8,582 thousand at June 30, 2025

Investments in debt securities $31,644 thousand As of June 30, 2026; none held at June 30, 2025

Total assets $99,110 thousand As of June 30, 2026; up from $23,185 thousand at June 30, 2025

Total liabilities $13,397 thousand As of June 30, 2026; compared with $8,305 thousand at June 30, 2025

Total stockholders’ equity $85,713 thousand As of June 30, 2026; up from $14,880 thousand at June 30, 2025

Key Terms

Phase 1 clinical trial, anti-myostatin monoclonal antibody, cardiometabolic, indefinite-lived intangible asset, +1 more

5 terms

Phase 1 clinical trial medical

"transition to a clinical-stage company with the initiation of the Phase 1 clinical trial"

A phase 1 clinical trial is the first stage of testing a new drug or treatment in people, typically involving a small group to assess safety, how the body handles the treatment, and appropriate dosing. For investors, phase 1 results are an early risk check — like a test drive that can reveal fatal flaws or promising signals — and they often cause big changes in a drug’s perceived value and the company’s prospects.

anti-myostatin monoclonal antibody medical

"IBIO-600, a potentially best-in-class, long-acting anti-myostatin monoclonal antibody"

cardiometabolic medical

"therapeutics for obesity, cardiometabolic and cardiopulmonary diseases"

Cardiometabolic describes health conditions that affect the heart and the body’s metabolism—most commonly heart disease, high blood pressure, type 2 diabetes and obesity—that often occur together and share common causes. Investors care because these linked conditions drive large, predictable demand for drugs, medical devices and long-term care, and changes in treatment options, guidelines or costs can materially affect healthcare company revenues and government spending much like a problem in an engine and its fuel system impacts the whole vehicle.

indefinite-lived intangible asset financial

"Impairment of Indefinite-Lived Intangible Assets for the fiscal year ended June 30, 2026"

An indefinite-lived intangible asset is a non-physical company resource—such as a well-known brand name, certain trademarks, or goodwill—that has no foreseeable limit to the period it will generate value. Investors care because these assets are not gradually charged as an expense over time; instead, they are periodically checked for loss of value, and a sudden write-down can sharply reduce reported profits and the company’s book value, like discovering a long-kept collectible has lost its worth.

comprehensive loss financial

"Consolidated Statements of Operations and Comprehensive Loss"

Comprehensive loss measures the total decrease in a company’s value over a reporting period by combining its regular profit-or-loss with other gains or losses that don’t show up on the main income line—things like currency swings, changes in the value of certain investments, or pension adjustments. For investors it matters because it reveals hidden hits to a company’s equity that aren’t reflected in net income, offering a fuller picture of financial health, similar to checking both your bank balance and the value of investments when assessing your net worth.

Earnings Snapshot

Revenue: $0.1 million

Fiscal year ended June 30, 2026

Revenue $0.1 million $0.3 million decrease vs $0.4 million in 2025

Operating loss $35.1 million from $18.6 million in 2025

Net loss $33.0 million from $18.4 million in 2025

Cash, cash equivalents and investments $88.0 million compared with $8.6 million cash and cash equivalents at June 30, 2025

FAQ

How did iBio (IBIO) perform financially in fiscal year 2026?

iBio reported revenue of $0.1 million and a net loss of $33.0 million for the year ended June 30, 2026, compared with $0.4 million of revenue and an $18.4 million net loss in 2025. Operating loss was $35.1 million versus $18.6 million a year earlier.

What is iBio’s (IBIO) cash position and balance sheet strength as of June 30, 2026?

As of June 30, 2026, iBio held $56.4 million in cash and cash equivalents and $31.6 million in investments in debt securities, for approximately $88.0 million combined. Total assets were $99.1 million, liabilities $13.4 million, and stockholders’ equity $85.7 million.

What key R&D and expense trends did iBio (IBIO) report for 2026?

Research and development expenses increased to $19.6 million from $8.3 million, mainly due to about $8.4 million higher consultant and outside service spending and a $2.5 million development milestone. General and administrative expenses were stable at about $10.6 million versus $10.7 million.

What major pipeline milestones did iBio (IBIO) highlight in this update?

iBio highlighted becoming a clinical-stage company with initiation of a Phase 1 clinical trial of IBIO-600, a long-acting anti-myostatin monoclonal antibody. It also reported preclinical progress on IBIO-610, focused on fat-selective weight loss and potential use alongside GLP-1 therapies.

How long does iBio (IBIO) expect its cash runway to last?

The company stated that its successful financings extended its cash runway into fiscal year 2028, providing resources to advance its obesity and cardiometabolic pipeline toward and into clinical development.

Did iBio (IBIO) record any impairment charges in fiscal 2026?

Yes. iBio recorded a $5.0 million impairment of an indefinite-lived intangible asset related to IBIO-101 in fiscal 2026. No such impairment was recorded in fiscal 2025.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Understanding 8-K Material Events →

Available on EDGAR 08/28/2026 - 08:45 AM Accepted by SEC EDGAR 08/28/2026 - 08:30 AM

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): August 28, 2026

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.)

11750 Sorrento Valley Road Suite 200

San Diego, California 92121

(Address of principal executive offices and zip code)

(979) 446-0027

(Registrant’s telephone number including area code)

N/A

(Former Name and Former Address)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12(b) under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:


Title of each class	Trading Symbol(s)	Name of each exchange on which registered
Common Stock, $0.001 par value per share	IBIO	The Nasdaq Stock Market LLC

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by checkmark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.

Item 2.02. Results of Operations and Financial Condition.

On August 28, 2026, iBio, Inc. (the “Company”) issued a press release announcing its financial results for the fiscal year ended June 30, 2026. A copy of the press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K.

The information in this Item 2.02 and in the press release attached as Exhibit 99.1 to this Current Report on Form 8-K shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section or Sections 11 and 12(a)(2) of the Securities Act of 1933, as amended. The information contained in this Item 2.02 and in the press release attached as Exhibit 99.1 to this Current Report on Form 8-K shall not be incorporated by reference into any filing with the U.S. Securities and Exchange Commission made by the Company, whether made before or after the date hereof, regardless of any general incorporation language in such filing.

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits


Exhibit No.		Description
99.1		Press Release, issued by iBio, Inc. dated August 28, 2026
104		Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.


Date: August 28, 2026	IBIO, INC.

	By:	/s/ Marc A. Banjak
		Name:	Marc A. Banjak
		Title:	Chief Legal Officer

Exhibit 99.1

iBio Reports Fiscal Year 2026 Financial Results and Provides Corporate Update

SAN DIEGO, August 28, 2026 (GLOBE NEWSWIRE) -- iBio, Inc. (NASDAQ: IBIO), a clinical-stage biotechnology company developing long-acting antibody therapeutics for obesity, cardiometabolic and cardiopulmonary diseases, today announced its financial results for the fiscal year ended June 30, 2026, and provided a corporate update on its progress.

“Fiscal year 2026 was a transformative year for iBio, most importantly marked by our transition to a clinical-stage company with the initiation of the Phase 1 clinical trial of IBIO-600, a potentially best-in-class, long-acting anti-myostatin monoclonal antibody designed to preserve muscle and improve body composition,” said Martin Brenner, Ph.D., DVM, Chief Executive Officer and Chief Scientific Officer of iBio. “Additional highlights came from our IBIO-610 program, where we presented preclinical data supporting its potential for fat-selective weight loss, complementing with current GLP-1 therapies by increasing fat loss while preserving lean mass, and to reduce weight regain following GLP-1 discontinuation. We are excited to build on this progress as we continue advancing our pipeline and working toward our mission of delivering transformative treatments to patients.”

Progress on Obesity and Cardiometabolic Pipeline

●

Advanced IBIO-610, iBio’s long-acting Activin E antibody, into IND-enabling studies. In obese non-human primates, a single dose produced near-complete suppression of active Activin E for up to eight weeks and demonstrated a prolonged pharmacokinetic profile supporting the potential for infrequent dosing. Additional preclinical studies in rodents demonstrated fat-selective weight loss, additive weight loss and enhanced body-composition effects in combination with semaglutide, and prevention of weight regain following GLP-1 discontinuation. These data support IBIO-610’s potential as a differentiated treatment for obesity and related cardiometabolic diseases.

●

Advanced IBIO-600, iBio’s long-acting myostatin antibody, through the single ascending dose portion of its first-in-human Phase 1 clinical trial, dosing 31 of the 32 planned participants across all four planned cohorts with no safety findings identified that precluded dose escalation. IBIO-600 is being developed to preserve muscle and improve body composition, including as a potential complement to GLP-1-based therapies. iBio is now preparing to advance IBIO-600 into the multiple ascending dose escalation portion of the clinical trial.

●

Advanced IBIO-800, iBio’s myostatin × Activin A bispecific antibody, into IND-enabling development following selection of a development candidate. iBio initiated CMC and IND-enabling nonclinical development and presented preclinical data supporting its potential to preserve and increase muscle and address cardiopulmonary disease, with an initial focus on pulmonary hypertension associated with heart failure with preserved ejection fraction (PH-HFpEF).

●

In-licensed all rights to AstralBio’s amylin receptor antibody program that includes a portfolio of next-generation antibody agonists designed to achieve differentiated receptor pharmacology. The program includes selective AMY1 and AMY3 receptor agonists, selective amylin receptor agonists targeting both AMY1 and AMY3, and dual amylin and calcitonin receptor agonists. Candidates are advancing through preclinical characterization to identify the pharmacologic profiles best suited to the treatment of obesity and metabolic disease.

Corporate Developments

Financing and Capital Resources

●

Closed a public offering in August 2025 for total potential gross proceeds of up to $100 million (assuming the exercise of all of the warrants sold in the offering in full for cash), led by Balyasny Asset Management with participation from Cormorant Asset Management, Adage Capital Partners, Ally Bridge Group, Marshall Wace, Coastlands Capital, SilverArc Capital Management, Vestal Point Capital, and Ausangate Capital.

●

Closed a $26 million private placement in January 2026 with healthcare-focused institutional investors led by Frazier Life Sciences, along with participation from other existing investors.

●

Entered into an Open Market Sale AgreementSM™ with Jefferies LLC providing for the sale, from time to time, of up to $100 million of shares of iBio common stock.

Leadership Updates

●

Strengthened the Board with the appointment of Elizabeth Stoner, M.D., who brings deep biotechnology industry experience and expertise in capital markets and clinical-stage drug development.

●

Appointed Molly Carr, M.D. as iBio’s Chief Medical Officer, bringing more than 30 years of clinical, academic and biopharmaceutical experience in endocrinology and metabolic diseases to lead iBio’s global clinical strategy, medical affairs and regulatory initiatives.

“In this last fiscal year, we paired significant scientific progress with disciplined financial execution, substantially strengthening iBio’s balance sheet as we advance our pipeline toward and into clinical development,” said Felipe Druan, Chief Financial Officer. “Our successful financings, which extended our cash runway into fiscal year 2028, together with the addition of highly experienced leaders to our Board and management team, provide a strong foundation to execute on our clinical programs and translate continued scientific progress into meaningful value for patients and shareholders.”

Financial Results:

Revenues for the fiscal year ended June 30, 2026, were approximately $0.1 million, a decrease of $0.3 million over the $0.4 million in revenue for the fiscal year 2025.

Research and Development (“R&D”) expenses for the fiscal year ended June 30, 2026, and June 30, 2025, were approximately $19.6 million and $8.3 million, respectively, an increase of approximately $11.3 million. The increase in R&D expenses is mainly due to increased spending of approximately $8.4 million on consultants and outside services supporting our R&D efforts, including NHP studies and CMC activities, for iBio’s IBIO-610 and IBIO-600 programs and other preclinical pipeline assets, and a $2.5 million development milestone.

General and Administrative expenses for the fiscal year ended June 30, 2026, and June 30, 2025, were approximately $10.6 million and $10.7 million, respectively, a decrease of approximately $0.1 million.

Impairment of Indefinite-Lived Intangible Assets for the fiscal year ended June 30, 2026, was approximately $5.0 million and was attributable to the impairment of our indefinite-lived intangible asset, IBIO-101. No impairments of indefinite-lived intangible assets were recorded for the fiscal year ended June 30, 2025.

iBio held cash and cash equivalents and investments in debt securities of approximately $88.0 million as of June 30, 2026.

About iBio, Inc.

iBio (Nasdaq: IBIO) is a clinical-stage biotechnology developing long-acting antibody therapeutics for obesity, cardiometabolic and cardiopulmonary diseases, cancer, and other hard-to-treat diseases. Combining advanced antibody engineering with AI-driven discovery, iBio is advancing a differentiated pipeline designed to deliver sustained therapeutic effects and address significant unmet medical needs. iBio’s mission is to transform drug discovery, accelerate development timelines, and unlock new possibilities in precision medicine.

For more information, visit www.ibioinc.com or follow us on LinkedIn.

Forward-Looking Statements

Certain statements in this press release constitute “forward-looking statements” within the meaning of the federal securities laws. Words such as “may,” “might,” “will,” “should,” “believe,” “expect,” “anticipate,” “estimate,” “continue,” “predict,” “forecast,” “project,” “plan,” “intend” or similar expressions, or statements regarding intent, belief, or current expectations, are forward-looking statements. These forward-looking statements are based upon current estimates and assumptions and include statements regarding IBIO-600 potentially being a best-in-class, long-acting anti-myostatin monoclonal antibody to preserve muscle and improve body composition; IBIO-610’s potential for fat-selective weight loss, complementing GLP-1 therapy by increasing fat loss while preserving lean mass, and reducing weight regain following GLP-1 discontinuation; iBio continuing to advance its pipeline and working toward its mission of delivering transformative treatments to patients; the potential for infrequent dosing of IBIO-610, iBio’s long-acting Activin E antibody; preclinical studies of IBIO-610 supporting its potential as a differentiated treatment for obesity and related cardiometabolic diseases; the four planned cohorts of the IBIO-600 Phase 1 clinical trial; the potential to move IBIO-600 into multiple ascending dose portion of the clinical trial; the potential of IBIO-600 to preserve muscle and improve body

composition, including as a potential complement to GLP-1-based therapies; the potential of IBIO-800 to preserve and increase muscle and address cardiopulmonary disease; the assumed exercise of all of the warrants sold in the August 2025 public offering in full for cash; Dr. Carr leading the company’s global clinical strategy, medical affairs, and regulatory initiatives; the company advancing its obesity and cardiometabolic pipeline toward and into clinical development; the addition of highly experienced leaders to iBio’s Board and management team, together with its successful financings, providing a strong foundation to continue translating scientific progress into meaningful clinical and corporate value; iBio’s differentiated pipeline delivering sustained therapeutic effects and addressing significant unmet medical needs; and iBio’s ability to transform drug discovery, accelerate development timelines, and unlock new possibilities in precision medicine. While iBio believes these forward-looking statements are reasonable, undue reliance should not be placed on any such forward-looking statements, which are based on information available to us on the date of this release. These forward-looking statements are subject to various risks and uncertainties, many of which are difficult to predict that could cause actual results to differ materially from current expectations and assumptions from those set forth or implied by any forward-looking statements. Important factors that could cause actual results to differ materially from current expectations include, among others, iBio’s ability to obtain regulatory approvals for commercialization of its product candidates, or to comply with ongoing regulatory requirements; regulatory limitations relating to iBio’s ability to promote or commercialize its product candidates for specific indications; acceptance of iBio’s product candidates in the marketplace and the successful development, marketing or sale of products; whether iBio will incur unforeseen expenses or liabilities or other market factors; and the other factors discussed in iBio’s filings with the SEC including its Annual Report on Form 10-K for the year ended June 30, 2026. The information in this release is provided only as of the date of this release, and iBio undertakes no obligation to update any forward-looking statements contained in this release on account of new information, future events, or otherwise, except as required by law.

Corporate Contact:
iBio, Inc.
Investor Relations
ir@ibioinc.com

Media Contacts:
Ignacio Guerrero-Ros, Ph.D., or David Schull
Russo Partners, LLC
Ignacio.guerrero-ros@russopartnersllc.com
David.schull@russopartnersllc.com
(858) 717-2310 or (646) 942-5604

iBio, Inc. and Subsidiaries

Consolidated Statements of Operations and Comprehensive Loss

(In Thousands, except per share amounts)


		Year Ended
		June 30,
		2026			2025
Revenue		$	100		$	400

Operating expenses:
Research and development			19,643			8,312
General and administrative			10,595			10,690
Impairment of indefinite-lived intangible asset			5,003			—
Total operating expenses			35,241			19,002

Operating loss			(35,141)			(18,602)

Other income (expense):
Interest income			2,150			437
Interest expense			(53)			(212)
Total other income			2,097			225

Net loss before income taxes			(33,044)			(18,377)

Income tax expense			—			—

Net loss		$	(33,044)		$	(18,377)

Comprehensive loss:
Net loss		$	(33,044)		$	(18,377)
Other comprehensive loss - unrealized loss on debt securities			(45)			—

Comprehensive loss		$	(33,089)		$	(18,377)

Loss per common share - basic and diluted		$	(0.32)		$	(1.75)

Weighted-average common shares outstanding - basic and diluted - see Note 17			104,060			10,499