iBio Reports Increased Operating Expenses and Continued Net Loss for Three and Nine Months Ended March 31, 2026

iBio, Inc. reported its financial results for the three and nine months ended March 31, 2026, revealing a significant increase in operating expenses and a continued net loss. The company did not generate any revenue during the three-month period, consistent with the same period in the previous year. For the nine months ended March 31, 2026, iBio recognized $100,000 in revenue, a decrease from $200,000 in the prior year. The total operating expenses for the three months reached approximately $8.4 million, up from $4.9 million in the same period last year, driven primarily by increased research and development (R&D) and general and administrative (G&A) expenses.

R&D expenses surged to $3.3 million for the three months ended March 31, 2026, compared to $1.9 million in the prior year, reflecting heightened spending on consultants and services related to the company's preclinical programs, particularly IBIO-600 and IBIO-610. G&A expenses also rose to approximately $5.1 million, up from $3.0 million, largely due to a $2.5 million impairment charge related to the indefinite-lived intangible asset IBIO-101. The net loss for the quarter was $7.7 million, or $0.06 per share, compared to a net loss of $4.9 million, or $0.49 per share, for the same period in 2025.

For the nine months ended March 31, 2026, total operating expenses amounted to approximately $23.9 million, compared to $13.6 million in the same period of the previous year. The net loss for this period was $22.4 million, or $0.25 per share, compared to a net loss of $13.2 million, or $1.44 per share, for the nine months ended March 31, 2025. The increase in losses is attributed to the company's ongoing investment in R&D and the impairment of intangible assets.

iBio's balance sheet showed total current assets of approximately $77.3 million as of March 31, 2026, including $47.6 million in cash and cash equivalents and $27.2 million in investments in debt securities. The company reported an operating capital deficit of $17 million, an increase from $10.7 million in the prior year. Despite the ongoing losses, iBio believes its current cash position is sufficient to fund operations for at least the next 12 months, bolstered by recent financing activities, including a $50 million public offering in August 2025 and a $26 million private placement in January 2026.

Looking ahead, iBio anticipates entering Phase 1 clinical trials for its lead candidate, IBIO-600, in the second quarter of calendar 2026, marking a significant milestone for the company. The firm is also focusing on the development of IBIO-610, with plans to commence human clinical trials in the first half of 2027. iBio's strategic direction emphasizes leveraging its AI Drug Discovery Platform to develop innovative therapies for obesity and related conditions, while also exploring partnerships to enhance its pipeline and accelerate development timelines.