iBio FY2024 net loss $24.9M; revenue $0.2M; auditor raises going concern

iBio, Inc.

Net loss narrowed to $24.9M from $65M YoY; R&D expense fell $5.1M, G&A fell $7.3M.
Cash, equivalents, restricted cash $14.4M at June 30, 2024; going concern warning in audit opinion.
Sold Texas manufacturing facility to Texas A&M for $8.5M, eliminating $13.2M secured debt.
Sold PD-1 asset to Otsuka for $1M upfront plus up to $52.5M milestones; entered AstralBio collaboration.
Raised ~$24M in equity (public offer $4.5M, PIPE $15M, warrant exercise $4.5M) after 1:20 reverse split.

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