iBio (NASDAQ:IBIO) Posts Quarterly Earnings Results, Beats Estimates By $0.02 EPS

iBio (NASDAQ:IBIO) announced its quarterly earnings results on Tuesday. The company reported ($0.05) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.02, FiscalAI reports. The business had revenue of $1.07 million for the quarter, compared to analysts’ expectations of $0.03 million.

Here are the key takeaways from iBio’s conference call:

• iBio has become a clinical-stage company: its IBIO-600 myostatin/GDF11 antibody has completed single-ascending-dose testing, with the company reporting no concerning safety findings so far. Unblinded safety, half-life and possible body-composition data are expected in the first quarter of next year.
• The company highlighted non-human-primate results for its Activin E antibody, IBIO-610, saying it shifted GLP-1-associated weight loss toward fat rather than muscle; it cautioned that the study is not complete. iBio is targeting an Australian clinical-trial filing by year-end and first-in-human data in the first half of next year, with the initial study focused mainly on safety and pharmacokinetics.
• IBIO-800, a myostatin/Activin A bispecific being developed initially for PH-HFpEF, is in CMC and toxicology work, with animal efficacy results expected by the end of the second quarter next year. The company is still evaluating potential bleeding and blood-cell-production risks, so both the safety profile and clinical prospects remain uncertain.
• The amylin program remains in candidate-selection work: iBio is comparing receptor and signaling profiles and expects to choose a development candidate around mid-next year. The company said CMC and toxicology would then take another 9–12 months before the program could enter the clinic.
• Management said current cash is expected to fund operations into the second quarter of 2028 and support several planned data readouts, but also expects the company will need to raise capital sometime in the next year. That could create financing or dilution risk if partnering or other non-dilutive funding does not materialize.

iBio Price Performance

iBio stock traded down $0.01 during midday trading on Tuesday, hitting $0.78. 217,447 shares of the stock were exchanged, compared to its average volume of 1,072,922. iBio has a 1 year low of $0.69 and a 1 year high of $3.82. The firm has a market cap of $50.16 million, a P/E ratio of -2.29 and a beta of 1.47. The company has a 50 day moving average price of $1.02 and a two-hundred day moving average price of $1.66.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of iBio in a research report on Monday, September 21st. Wall Street Zen downgraded iBio from a “hold” rating to a “sell” rating in a report on Sunday, September 13th. Finally, HC Wainwright began coverage on iBio in a report on Thursday, September 17th. They set a “buy” rating and a $7.00 target price on the stock. Two investment analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $6.00.

About iBio

iBio, Inc. (NASDAQ: IBIO) is a biotechnology company focused on discovering and developing next-generation antibody therapeutics. The company uses artificial intelligence, machine learning and computational biology to identify and optimize antibody candidates for potential use in cancer and other serious diseases. iBio’s discovery capabilities are built around proprietary antibody-design and profiling technologies, including platforms intended to improve the speed and quality of therapeutic antibody development.