iBio Inc 2025年季度报告

FORM 10-Q QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period endedDecember 31, 2024 OR TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ___ to ___ Commission File Number 001-35023 (Former name, former address and former fiscal year, if changed since last report) Securities registered pursuant to Section 12(b) of the Act: Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the SecuritiesExchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file suchreports), and (2) has been subject to such filing requirements for the past 90 days.Yes⌧No⌧ Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submittedpursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period thatthe registrant was required to submit such files).Yes⌧No⌧ Indicate by check mark whether the registrant is a large, accelerated filer, an accelerated filer, a non-accelerated filer, a smallerreporting company or an emerging growth company. See the definitions of “large, accelerated filer,” “accelerated filer” “smallerreporting company” and “emerging growth company” in Rule 12b-2 of the Exchange Act. Large accelerated Filer ◾Non-accelerated Filer◾ Accelerated Filer ◾Smaller reporting company ◾Emerging growth company ◾ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period forcomplying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.⌧ Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).Yes ◾No ◾ Shares of Common Stock outstanding as of February 7, 2025: 9,874,676 iBio, Inc. TABLE OF CONTENTS PART I. FINANCIAL INFORMATION Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations37Item 3. Quantitative and Qualitative Disclosures About Market Risk51Item 4. Controls and Procedures51 PART II. OTHER INFORMATION Item 1. Legal Proceedings52Item 1A.Risk Factors52Item 2. Unregistered Sales of Equity Securities and Use of Proceeds54Item 5. Other Information54Item 6. Exhibits55 SIGNATURES PART I - FINANCIAL INFORMATION Item 1.Condensed Consolidated Financial Statements (Unaudited). iBio, Inc. and SubsidiariesCondensed Consolidated Balance Sheets(In thousands, except share and per share amounts) iBio, Inc. and SubsidiariesCondensed Consolidated Statements of Operations(Unaudited; in thousands, except per share amounts) iBio, Inc. and SubsidiariesCondensed Consolidated Statements of Stockholders’ Equity(Unaudited; in thousands) Six Months Ended December 31, 2024 Six Months Ended December 31, 2023 The accompanying notes are an integral part of these unaudited condensed consolidated financial statements. iBio, Inc. and SubsidiariesCondensed Consolidated Statements of Cash Flows(Unaudited; in thousands) The accompanying notes are an integral part of these unaudited condensed consolidated financial statements. iBio, Inc. and SubsidiariesNotes to Condensed Consolidated Financial Statements(Unaudited) 1.Nature of Business iBio, Inc. (also referred to as "iBio", or the "Company") is a preclinical stage biotechnology company leveraging thepower of Artificial Intelligence (AI) and Machine Learning (ML) for the development of hard-to-drug precisionantibodies. The Company’s proprietary technology stack is designed to minimize downstream development risks byemploying AI-guided epitope-steering and monoclonal antibody (mAb) optimization. Since September 2022, iBio has focused on utilizing AI and ML to discover and design antibodies against hard-to-drug targets upon the acquisition of substantially all of the assets of RubrYc Therapeutics, Inc. ("RubrYc"). Thisacquisition commenced the Company’s transition from a Contract Development and Manufacturing Organization(CDMO) to an AI-enabled biotech company. iBio’s transition concluded in May 2024 upon the closing of the saleof the CDMO facility in Texas. These strategic decisions the Company executed enable it to solely focus resourceson the development of AI-powered precision antibodies, positioning iBio at the forefront of this exciting field. One of the key features of iBio’s technology stack is the patented epitope-steering AI-engine. This advancedtechnology allows the Company to target specific regions of proteins with precision enabling the creation ofantibodies highly specific to therapeutically relevant regions within large target proteins, potentially improving theirefficacy and safety profile. Another integral part of iBio’s technology stack is the ML based antibody-optimizingS