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Dec 31, 2021
iBio Q2 2022 Earnings Report
iBio's financial results for the fiscal quarter ended December 31, 2021 were reported.
Key Takeaways
iBio reported a decrease in revenue and an increase in net loss for the second quarter ended December 31, 2021. The company is focusing on advancing its pipeline and platform technologies while managing cash effectively.
Added six new immuno-oncology assets to the pipeline in the last six months.
Advanced a new asset into late-discovery stage using artificial intelligence design capabilities.
Exploring the use of a novel peptide with anti-fibrotic effects in treating solid tumors.
Prepared to move the second-generation COVID-19 vaccine candidate towards the clinic.
iBio
iBio
Forward Guidance
iBio expects revenue growth to return in the second half of fiscal 2022 and believes it has adequate cash to support its activities through September 30, 2023.
Positive Outlook
- Revenue growth expected to return in the second half of fiscal 2022.
- Adequate cash to support activities through September 30, 2023.
- Advancing IBIO-202 and other key Biopharmaceutical and Bioprocess initiatives.
- Continuing to advance its IL-2 sparing anti-CD25 antibody, IBIO-101, and moving the program from the Lead Optimization to IND-Enabling stage before the middle of calendar 2022.
- Initial data from the collaboration with the University of Texas Southwestern Medical Center expected in the second half of calendar 2022.
Challenges Ahead
- Significant quarter-to-quarter revenue variability.
- R&D and G&A expenses increased over the comparable period in fiscal 2020.
- Net loss increased compared to the same period in 2020.
- Deferring a number of planned new hires.
- Less aggressively advancing the IBIO-100 program.