iBio Reports $4.9 Million Net Loss and Revenue Growth in Latest Financial Results

iBio, Inc. reported its financial results for the three and nine months ended March 31, 2025, revealing a net loss of approximately $4.9 million, or $0.49 per share, compared to a net loss of $2.6 million, or $0.71 per share, for the same period in 2024. The company did not generate any revenue during the three months ended March 31, 2025, consistent with the previous year. For the nine months ended March 31, 2025, iBio recognized $200,000 in revenue, a significant increase from $50,000 in the prior year, attributed to services provided to a collaborative partner.

Total operating expenses for the three months ended March 31, 2025, were approximately $4.9 million, up from $3.6 million in the same period last year. This increase was primarily driven by higher research and development (R&D) expenses, which rose to $1.9 million from $0.9 million, reflecting increased spending on consultants, outside services, and personnel-related costs. General and administrative (G&A) expenses also increased slightly to $3.0 million from $2.7 million, mainly due to higher IT costs and consulting fees.

iBio's balance sheet as of March 31, 2025, showed total assets of approximately $19.1 million, a decrease from $28.7 million as of June 30, 2024. Current assets were reported at $6.1 million, including $5.0 million in cash and cash equivalents. The company's total liabilities increased to $7.7 million from $7.4 million in the previous fiscal period, with current liabilities rising significantly due to increased accounts payable and accrued expenses.

Strategically, iBio has focused on leveraging its proprietary AI technology for the development of precision antibodies, transitioning from a Contract Development and Manufacturing Organization (CDMO) to a biotechnology company. The company has entered into exclusive licensing agreements with AstralBio for the development of antibodies targeting myostatin and Activin E, which are aimed at treating obesity and cardiometabolic diseases. iBio's management has indicated that it will continue to seek partnerships to advance its preclinical pipeline and is exploring various options to enhance liquidity, including potential asset sales and collaborations.

Looking ahead, iBio faces substantial doubt about its ability to continue as a going concern due to its history of losses and reliance on external financing. The company plans to utilize its current cash reserves, which were approximately $5.2 million as of March 31, 2025, to support operations through the first quarter of fiscal year 2026. However, management acknowledges the need for additional capital to fully execute its long-term business plans, emphasizing the importance of strategic collaborations and potential funding sources to sustain its operations.