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Dec 31, 2020
iBio Q2 2021 Earnings Report
Announced financial results for the fiscal quarter ended December 31, 2020.
Key Takeaways
iBio reported an increase in revenue to $0.7 million, up from $0.3 million in the same quarter of the previous year. The company's operating expenses increased to $8.3 million, and the net loss attributable to iBio stockholders was $8.2 million, or $0.04 per share. As of December 31, 2020, iBio had cash and cash equivalents plus investments in debt securities of approximately $107.6 million.
Revenue increased by $0.4 million compared to the same quarter last year.
Operating expenses increased primarily due to higher R&D and G&A expenses.
Net loss decreased significantly compared to the same period in 2019, primarily due to deemed dividends in the previous year.
Cash and cash equivalents plus investments in debt securities totaled approximately $107.6 million as of December 31, 2020.
iBio
iBio
Forward Guidance
The company is focused on advancing its pipeline, diversifying its customer base, and growing revenues. They believe they are well positioned to accelerate the development of biotherapeutic and vaccine candidates, in-license promising biopharmaceutical assets, and leverage the FastPharming System.
Positive Outlook
- Advancing vaccine programs.
- Securing additional IP protection for antifibrotic therapies.
- Expanding client base for CDMO Services.
- Rapidly advancing work on new RBP products.
- Building a world-class organization with key appointments.
Challenges Ahead
- The company does not provide specific negative guidance in the earnings report. Therefore, I'm unable to provide 5 negative bullet points.
- The company does not provide specific negative guidance in the earnings report. Therefore, I'm unable to provide 5 negative bullet points.
- The company does not provide specific negative guidance in the earnings report. Therefore, I'm unable to provide 5 negative bullet points.
- The company does not provide specific negative guidance in the earnings report. Therefore, I'm unable to provide 5 negative bullet points.
- The company does not provide specific negative guidance in the earnings report. Therefore, I'm unable to provide 5 negative bullet points.