iBio reports FY2023 net loss of $65M, nil revenue; audit opinion includes going concern

iBio, Inc.

Revenue $0 vs $1.9M in FY2022; net loss $65.0M, up $14.6M from prior year due to discontinued ops.
Operating expenses $29.3M, down 7% from $31.6M; cash and restricted cash $7.6M at June 30, 2023.
Audit opinion includes going concern qualification; NYSE American rule requires public announcement.
Credit agreement with Woodforest amended; maturity extended to Dec 31, 2023 or acceleration date.
Pending CDMO facility sale intended to repay loan and extend cash runway; no assurance of closing.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

iBio, Inc. reported financial results for fiscal year ended June 30, 2023.

Period: fiscal year ended June 30, 2023
Result: reported results

Exact text from the filing

On September 27, 2023, iBio, Inc. (the “Company”) issued a press release announcing its financial results for the fiscal year ended June 30, 2023.

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iBio, Inc. filing history →

Source: SEC EDGAR

accession 0001420720-23-000048

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