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iBio Inc | 8-K: iBio Reports Fiscal Second Quarter 2025 Financial Results

SEC ·  Feb 10 21:11

Summary by Moomoo AI

iBio reported financial results for Q2 FY2025 ended December 31, 2024, with revenue of $0.2M and a net loss of $4.4M ($0.48 per share), compared to a $4.5M loss ($2.42 per share) in Q2 FY2024. R&D and G&A expenses increased 3% YoY to $4.6M. The company held $7.2M in cash and equivalents at quarter-end.The quarter saw significant progress in iBio's AI-driven drug development platform, including the discovery of a novel Activin E antibody and the in-licensing of IBIO-600, a long-acting anti-myostatin antibody. The company also initiated a bispecific antibody program targeting myostatin/activin A for obesity and cardiometabolic disorders, with clinical investigation planned for 2026.Corporate developments included strengthening the Board with the appointments of David Arkowitz and António Parada in November 2024, and securing additional funding through a private placement with Board members and Officers in January 2025, extending the company's cash runway.
iBio reported financial results for Q2 FY2025 ended December 31, 2024, with revenue of $0.2M and a net loss of $4.4M ($0.48 per share), compared to a $4.5M loss ($2.42 per share) in Q2 FY2024. R&D and G&A expenses increased 3% YoY to $4.6M. The company held $7.2M in cash and equivalents at quarter-end.The quarter saw significant progress in iBio's AI-driven drug development platform, including the discovery of a novel Activin E antibody and the in-licensing of IBIO-600, a long-acting anti-myostatin antibody. The company also initiated a bispecific antibody program targeting myostatin/activin A for obesity and cardiometabolic disorders, with clinical investigation planned for 2026.Corporate developments included strengthening the Board with the appointments of David Arkowitz and António Parada in November 2024, and securing additional funding through a private placement with Board members and Officers in January 2025, extending the company's cash runway.
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