iBio Inc, a preclinical stage biotechnology company, reported no revenue for the quarter ended September 30, 2024, consistent with the same period in the previous year where revenue was solely related to a research licensing agreement. The company's R&D expenses decreased by approximately $0.3 million to $1.3 million, attributed to reduced personnel costs and in-house task performance. G&A expenses also saw a reduction of $0.7 million, resulting in total operating expenses of $4.1 million, down from $5.2 million in the prior year. The net loss from continuing operations was $3.9 million, or $0.46 per share, an improvement from the $5.1 million, or $4.24 per share, in the previous year. iBio's cash, cash equivalents, and restricted cash totaled approximately $11.3 million as of September 30, 2024, which is expected to...Show More

iBio Inc, a preclinical stage biotechnology company, reported no revenue for the quarter ended September 30, 2024, consistent with the same period in the previous year where revenue was solely related to a research licensing agreement. The company's R&D expenses decreased by approximately $0.3 million to $1.3 million, attributed to reduced personnel costs and in-house task performance. G&A expenses also saw a reduction of $0.7 million, resulting in total operating expenses of $4.1 million, down from $5.2 million in the prior year. The net loss from continuing operations was $3.9 million, or $0.46 per share, an improvement from the $5.1 million, or $4.24 per share, in the previous year. iBio's cash, cash equivalents, and restricted cash totaled approximately $11.3 million as of September 30, 2024, which is expected to support operations into the first quarter of fiscal year 2026. The company continues to focus on AI-driven precision antibody discovery and development, leveraging its proprietary technology stack, including epitope steering and antibody optimization technologies. Strategic collaborations, such as the partnership with AstralBio for obesity and cardiometabolic diseases, and the use of its AI Discovery Platform in various partnerships, are central to iBio's business development. The company is actively seeking additional partnerships and funding opportunities to advance its preclinical pipeline and maintain operations.