secwatch.observer — SEC 8-K summary
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Issuer:     iBio, Inc. (IBIO)
CIK:        0001420720
Form:       8-K
Filed at:   2024-09-20T23:59:59+00:00
Accession:  0001420720-24-000036
Event type: earnings
Sentiment:  negative
Materiality: 0.85
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1420720/000142072024000036/0001420720-24-000036-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1420720/000142072024000036/ibio-20240630x8k.htm
  HTML page:      https://secwatch.observer/filing/0001420720-24-000036

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