IBio Launches $50 Million Public Offering to Support Preclinical Antibody Initiatives
Public Offering Details: iBio, Inc. has announced a public offering of pre-funded warrants for 71.54 million shares, raising approximately $50 million in gross proceeds at a price of $0.699 per share.
Warrant Information: The pre-funded warrants are immediately exercisable, while Series G and H warrants have an exercise price of $0.70 per share, potentially generating an additional $50 million if fully exercised.
Use of Proceeds: Funds raised will be utilized to advance iBio's preclinical cardiometabolic programs and support other pipeline assets and working capital needs.
Market Performance: Following the announcement, iBio's stock is trading at $0.7329, reflecting a decrease of 1.3328% on the NasdaqCM.
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iBio Reveals Promising Non-Human Primate Data for IBIO-610, an Activin E Antibody with Significant Potential for Targeted Weight Loss and Maintenance
IBIO-610 Overview: iBio, Inc. has announced promising preclinical data for IBIO-610, a potential first-in-class Activin E antibody, showing significant fat-selective weight loss and prevention of weight regain in a diet-induced obesity mouse model.
Extended Half-Life Findings: New data from non-human primate studies indicates an extended half-life of 33.2 days, with a predicted human half-life of up to 100 days, suggesting the possibility of dosing only twice a year.
Therapeutic Potential: The unique mechanism of action of IBIO-610 may provide a more comprehensive treatment for obesity and cardiometabolic diseases, addressing gaps left by current GLP-1 therapies.
Presentation at ObesityWeek: The findings will be presented at ObesityWeek 2025, highlighting the potential of IBIO-610 to improve patient experience with less frequent dosing and reduced side effects compared to existing treatments.
