iBio, Inc. Q4 FY2022 earnings call

• Tom discussed the acquisition of RubrYc, which enables acceleration of bringing immunotherapies to clinic faster. RubrYc's platform includes AI-driven drug discovery, two licensed candidates (IBIO-101 and Target 6), and four new pipeline assets. - Martin detailed RubrYc’s AI-powered discovery platform with modules for identifying epitopes, using antibody library, and optimizing leads. Provided pipeline updates: IBIO-101 pre-IND submitted, expected IND filing in first half of 2024; IBIO-202 COVID-19 vaccine candidate didn't provide protective effect in hamster studies. - Rob gave financial highlights, mentioned reverse stock split effective October 7, 2022.

For the fiscal year ended June 30, 2022, revenues were approximately $2.4 million, essentially flat versus prior year. R&D expenses increased by approximately $7.7 million and G&A expenses increased by $12.1 million over the comparable period in fiscal 2021. The consolidated net loss for the fiscal year was approximately $50.3 million. Cash, cash equivalents and investments in debt securities were approximately $39.5 million as of June 30, 2022.

• Evaluating options to extend cash runway past September 30, 2023, including asset sales, partnerships, cost reductions. - Reviewing non-dilutive and dilutive ways to raise additional capital. - No guarantee of success in extending cash runway but confident in evaluating options.

• Substantial doubt about the company's ability to continue as a going concern. - No assurance of success in implementing options to extend cash runway.

Q: From a timing perspective, what led to closing on assets from RubrYc now versus original agreement?

A: Tom said relationship with RubrYc was running for a year, they got hands-on experience with the platform, and saw progress with the platform and other molecules. Martin added they had proof-of-concept of the technology platform.

Q: What remains to be done ahead of submitting IND for IBIO-101 and timeline for other assets?

A: Tom said they're evaluating resource allocation, going as fast as possible with IBIO-101 but also evaluating opportunities. For other assets like Target 6, PD-1 agonist, they think they could be in in vivo proof-of-concept soon but didn't give exact range.

Q: Concerns about transparency, compensation, and financials?

A: Tom responded iBio has been transparent with frequent updates and conference calls. Addressed compensation and business decisions regarding IBIO-202, stating they made tough decisions based on biology and market conditions.