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Sep 30, 2021
iBio Q1 2022 Earnings Report
iBio's financial results for Q1 2022 were announced, along with a corporate update, which included adding a new anti-cancer target, initiating a research collaboration, and establishing a partnership for vaccine delivery.
Key Takeaways
iBio reported revenues of $211,000 for the first fiscal quarter ended September 30, 2021, a 49% decrease compared to the same period in 2020. The consolidated net loss for the quarter was $8.9 million, or $0.04 per share. The company had $82.3 million in cash and cash equivalents as of September 30, 2021.
Added a new anti-cancer target for development in partnership with RubrYc Therapeutics.
Initiated a research collaboration with UT Southwestern to study anti-fibrotics in oncology.
Established a partnership for the development of painless intradermal vaccine delivery.
Advanced novel COVID-19 vaccine candidate to pre-IND.
Forward Guidance
iBio is focused on delivering shareholder value across multiple fronts, including announcing new oncology targets and two possible IND filings. The company is excited about the partnership opportunities for its bioprocess business as industry awareness of the need to implement sustainable, ESG-based practices continues to grow.
Positive Outlook
- Announcing new oncology targets
- Two possible IND filings
- Partnership opportunities for bioprocess business
- Industry awareness of sustainable practices
- Strategic and operational flexibility
Historical Earnings Impact
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