On November 12, 2024, iBio Inc, a Delaware-incorporated biopharmaceutical company, released its financial results for the fiscal first quarter ending September 30, 2024. The announcement, made through a press release and filed with the SEC on Form 8-K, highlighted the company's progress in its collaboration with AstralBio, particularly the advancement of a myostatin program targeting muscle wasting and obesity. The program has reached the stage of dosing in non-human primate studies. Additionally, iBio Inc reported the strategic expansion of its executive team with the appointment of Kristi Sarno as Senior Vice President of Business Development. Financially, iBio Inc reported no revenue for the quarter, with R&D and G&A expenses totaling approximately $4.1 million, reflecting a 20% decrease from the previous year...Show More

On November 12, 2024, iBio Inc, a Delaware-incorporated biopharmaceutical company, released its financial results for the fiscal first quarter ending September 30, 2024. The announcement, made through a press release and filed with the SEC on Form 8-K, highlighted the company's progress in its collaboration with AstralBio, particularly the advancement of a myostatin program targeting muscle wasting and obesity. The program has reached the stage of dosing in non-human primate studies. Additionally, iBio Inc reported the strategic expansion of its executive team with the appointment of Kristi Sarno as Senior Vice President of Business Development. Financially, iBio Inc reported no revenue for the quarter, with R&D and G&A expenses totaling approximately $4.1 million, reflecting a 20% decrease from the previous year due to a cash preservation strategy and focus on collaboration partnerships. The net loss for the quarter was approximately $4.0 million, or $0.46 per share, an improvement from the net loss of $5.1 million, or $4.24 per share, in the same period of the previous year. The company's cash position as of September 30, 2024, was reported to be around $11.3 million. iBio Inc continues to focus on developing next-generation biopharmaceuticals using computational biology and 3D-modeling for challenging diseases, with the aim of reducing drug development timelines and failures.