Summary by Moomoo AI
iBio Inc, a biotechnology company specializing in AI-driven antibody drug discovery, has reported a net loss from continuing operations of approximately $15.4 million, or $4.03 per share, for the fiscal year ended June 30, 2024. This represents a significant reduction from the previous year's net loss of approximately $29.3 million, or $47.88 per share. The company's total operating expenses also decreased to approximately $16.9 million from $29.3 million in the previous year, primarily due to reduced research and development (R&D) and general and administrative (G&A) expenses. iBio's R&D expenses decreased by about 50% to $5.2 million, while G&A expenses fell by 39% to $11.7 million. The company's revenue for the year was reported at $0.2 million, related to research activities and license fees. iBio...Show More
