secwatch.observer — SEC 8-K summary
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Issuer:     iBio, Inc. (IBIO)
CIK:        0001420720
Form:       8-K
Filed at:   2023-09-27T23:59:59+00:00
Accession:  0001420720-23-000048
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1420720/000142072023000048/0001420720-23-000048-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1420720/000142072023000048/ibio-20230927x8k.htm
  HTML page:      https://secwatch.observer/filing/0001420720-23-000048

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer