iBio Inc, a biotechnology company specializing in AI-driven biologics, has not reported any revenue for the third quarter of Fiscal 2024. The company's financial performance shows a net loss from continuing operations of approximately $4.5 million, or $2.42 per share, for the quarter ended December 31, 2023. This is a decrease from the net loss of approximately $10.6 million, or $21.54 per share, for the same period in the previous year. Research and Development (R&D) expenses decreased by approximately $1.3 million, primarily due to in-house task performance and reduced spending on consultants. General and Administrative (G&A) expenses also decreased by approximately $4.8 million, mainly due to reduced personnel costs and lower consultancy expenses. The company's total operating expenses for the quarter were approximately...Show More

iBio Inc, a biotechnology company specializing in AI-driven biologics, has not reported any revenue for the third quarter of Fiscal 2024. The company's financial performance shows a net loss from continuing operations of approximately $4.5 million, or $2.42 per share, for the quarter ended December 31, 2023. This is a decrease from the net loss of approximately $10.6 million, or $21.54 per share, for the same period in the previous year. Research and Development (R&D) expenses decreased by approximately $1.3 million, primarily due to in-house task performance and reduced spending on consultants. General and Administrative (G&A) expenses also decreased by approximately $4.8 million, mainly due to reduced personnel costs and lower consultancy expenses. The company's total operating expenses for the quarter were approximately $4.5 million, compared to $10.6 million in the previous fiscal year. iBio Inc has also reported losses from discontinued operations, including an impairment of fixed assets and costs to maintain the Facility. The company's liquidity and capital resources are a concern, with a history of significant losses and negative cash flows from operations. iBio Inc's management has acknowledged substantial doubt about the company's ability to continue as a going concern without additional financing. In terms of business development, iBio Inc is focused on leveraging its AI Discovery Platform for partnerships and licensing in diverse therapeutic areas, with a particular emphasis on oncology. The company has entered into collaborations with the National Institute of Allergy and Infectious Diseases (NIAID) and a large pharmaceutical company to utilize its AI-driven epitope steering platform. iBio Inc's future plans include advancing its proprietary platform, epitope steering technology, and progressing internal pre-clinical programs, with a strategic focus on oncology and immunology. The company is also exploring the sale of its CDMO business and Facility to improve liquidity.