Summary by Moomoo AI
iBio Inc, a biotechnology company specializing in AI-driven antibody drug discovery, reported a net loss from continuing operations of $15.4 million, or $4.03 per share, for the fiscal year ended June 30, 2024, compared to a net loss of $29.3 million, or $47.88 per share, in the previous year. The company's total operating expenses decreased to $16.9 million from $29.3 million year-on-year, primarily due to reduced research and development (R&D) and general and administrative (G&A) expenses. Revenue for the year was reported at $0.2 million, related to research activities and license fees. iBio highlighted its strategic focus on AI and machine learning to advance its preclinical pipeline, with a particular emphasis on immune-oncology and cardiometabolic diseases. The company also completed the sale...Show More
