$IBIO
iBio, Inc.

2016 Q1 Form 10-Q Financial Statement

#000114420416104229 Filed on May 23, 2016

View on sec.gov

Income Statement

Concept 2016 Q1 2015 Q1
Revenue $379.0K $349.0K
YoY Change 8.6%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $2.400M $1.220M
YoY Change 96.72% 28.42%
% of Gross Profit
Research & Development $1.048M $815.0K
YoY Change 28.59% 137.61%
% of Gross Profit
Depreciation & Amortization $261.0K $11.00K
YoY Change 2272.73% -87.78%
% of Gross Profit
Operating Expenses $3.451M $2.037M
YoY Change 69.42% 57.42%
Operating Profit -$3.072M -$1.688M
YoY Change 81.99% 30.45%
Interest Expense $323.0K $0.00
YoY Change
% of Operating Profit
Other Income/Expense, Net -$313.0K $11.00K
YoY Change -2945.45% -26.67%
Pretax Income -$3.390M -$1.680M
YoY Change 101.79% 31.25%
Income Tax
% Of Pretax Income
Net Earnings -$3.036M -$1.677M
YoY Change 81.04% 31.12%
Net Earnings / Revenue -801.06% -480.52%
Basic Earnings Per Share
Diluted Earnings Per Share -$374.4K -$230.1K
COMMON SHARES
Basic Shares Outstanding 82.61M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2016 Q1 2015 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $21.89M $8.080M
YoY Change 170.92% 86.61%
Cash & Equivalents $21.89M $8.080M
Short-Term Investments
Other Short-Term Assets $320.0K $300.0K
YoY Change 6.67% 57.89%
Inventory $60.00K
Prepaid Expenses
Receivables $450.0K $341.0K
Other Receivables $0.00 $0.00
Total Short-Term Assets $22.72M $9.044M
YoY Change 151.22% 63.49%
LONG-TERM ASSETS
Property, Plant & Equipment $25.78M $14.00K
YoY Change 184007.14% 100.0%
Goodwill
YoY Change
Intangibles $2.139M $2.388M
YoY Change -10.43% -10.73%
Long-Term Investments
YoY Change
Other Assets $30.00K
YoY Change
Total Long-Term Assets $27.95M $2.402M
YoY Change 1063.41% -10.44%
TOTAL ASSETS
Total Short-Term Assets $22.72M $9.044M
Total Long-Term Assets $27.95M $2.402M
Total Assets $50.67M $11.45M
YoY Change 342.64% 39.35%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.551M $815.0K
YoY Change 90.31% -27.1%
Accrued Expenses $650.0K $405.0K
YoY Change 60.49% 326.32%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $170.0K
YoY Change
Total Short-Term Liabilities $2.441M $1.250M
YoY Change 95.28% 3.05%
LONG-TERM LIABILITIES
Long-Term Debt $25.31M $0.00
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $25.31M $0.00
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $2.441M $1.250M
Total Long-Term Liabilities $25.31M $0.00
Total Liabilities $27.75M $1.254M
YoY Change 2112.84% 3.64%
SHAREHOLDERS EQUITY
Retained Earnings -$45.94M
YoY Change 14.68%
Common Stock $63.21M $56.16M
YoY Change 12.55% 19.33%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $8.270M $10.19M
YoY Change
Total Liabilities & Shareholders Equity $50.67M $11.45M
YoY Change 342.69% 39.35%

Cashflow Statement

Concept 2016 Q1 2015 Q1
OPERATING ACTIVITIES
Net Income -$3.036M -$1.677M
YoY Change 81.04% 31.12%
Depreciation, Depletion And Amortization $261.0K $11.00K
YoY Change 2272.73% -87.78%
Cash From Operating Activities -$2.440M -$1.330M
YoY Change 83.46% 9.02%
INVESTING ACTIVITIES
Capital Expenditures $0.00 -$50.00K
YoY Change -100.0% -58.33%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities $0.00 -$50.00K
YoY Change -100.0% -58.33%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 17.60M 2.090M
YoY Change 742.11%
NET CHANGE
Cash From Operating Activities -2.440M -1.330M
Cash From Investing Activities 0.000 -50.00K
Cash From Financing Activities 17.60M 2.090M
Net Change In Cash 15.16M 710.0K
YoY Change 2035.21% -152.99%
FREE CASH FLOW
Cash From Operating Activities -$2.440M -$1.330M
Capital Expenditures $0.00 -$50.00K
Free Cash Flow -$2.440M -$1.280M
YoY Change 90.63% 16.36%

Facts In Submission

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us-gaap Related Party Transaction Selling General And Administrative Expenses From Transactions With Related Party
RelatedPartyTransactionSellingGeneralAndAdministrativeExpensesFromTransactionsWithRelatedParty
374000 USD
us-gaap Related Party Transaction Selling General And Administrative Expenses From Transactions With Related Party
RelatedPartyTransactionSellingGeneralAndAdministrativeExpensesFromTransactionsWithRelatedParty
0 USD
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0 pure
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P9Y
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Other Increases Decreases In Period Description
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOtherIncreasesDecreasesInPeriodDescription
Plan was amended to increase the number of shares reserved for awards under the Plan from 10 million to 15 million
us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
2178000 USD
us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
940000 USD
us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-6000 USD
us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
0 USD
CY2016Q1 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
2000 USD
CY2015Q1 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-12000 USD
us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-26000 USD
us-gaap Noncontrolling Interest Increase From Subsidiary Equity Issuance
NoncontrollingInterestIncreaseFromSubsidiaryEquityIssuance
15000000 USD
us-gaap Fair Value Of Assets Acquired
FairValueOfAssetsAcquired
26000000 USD
us-gaap Fair Value Of Assets Acquired
FairValueOfAssetsAcquired
0 USD
ibio Unpaid Fixed Assets Included In Accounts Payable
UnpaidFixedAssetsIncludedInAccountsPayable
17000 USD
ibio Unpaid Fixed Assets Included In Accounts Payable
UnpaidFixedAssetsIncludedInAccountsPayable
0 USD
us-gaap Interest Paid
InterestPaid
0 USD
CY2016Q1 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
3184000 USD
CY2015Q2 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
2921000 USD
CY2016Q1 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
5323000 USD
CY2015Q2 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
5281000 USD
us-gaap Nature Of Operations
NatureOfOperations
<div style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif "> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif" align="center"></div> <table style="BORDER-BOTTOM: 0px solid; BORDER-LEFT: 0px solid; MARGIN-TOP: 0px; FONT: 10pt Times New Roman, Times, Serif; MARGIN-BOTTOM: 0px; BORDER-TOP: 0px solid; BORDER-RIGHT: 0px solid" cellspacing="0" cellpadding="0"> <tr style="TEXT-ALIGN: justify; VERTICAL-ALIGN: top"> <td style="WIDTH: 0px"> <div style="CLEAR:both;CLEAR: both"></div> </td> <td style="TEXT-ALIGN: left; WIDTH: 0.25in"> <div style="CLEAR:both;CLEAR: both"><font style="FONT-SIZE: 10pt;FONT-FAMILY:Times New Roman, Times, Serif"><b> 1.</b></font></div> </td> <td style="TEXT-ALIGN: justify"> <div style="CLEAR:both;CLEAR: both"><font style="FONT-SIZE: 10pt;FONT-FAMILY:Times New Roman, Times, Serif"><b> Nature of Business</b></font></div> </td> </tr> </table> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify">&#160;</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify">iBio, Inc. and Subsidiaries (&#8220;iBio&#8221; or the &#8220;Company&#8221;) is a biotechnology company focused on the commercialization of its proprietary plant-based protein expression technologies for vaccines and therapeutic proteins and on developing and commercializing select biopharmaceutical product candidates. The advantages of iBio&#8217;s technology include reduced production time, capital and operating costs for biopharmaceuticals and the ability to manufacture therapeutic proteins that are difficult or commercially infeasible to produce with conventional methods.</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify">&#160;</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify">iBio was established as a public company in August 2008 as the result of a spinoff from Integrated BioPharma, Inc. The Company operates in one business segment under the direction of its Executive Chairman. The Company&#8217;s wholly-owned and majority-owned subsidiaries are as follows:</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify">&#160;</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify">iBioDefense Biologics LLC (&#8220;iBioDefense&#8221;) &#150; iBioDefense, a wholly-owned subsidiary, is a Delaware limited liability company formed in July 2013 to explore development and commercialization of defense-specific applications of the Company&#8217;s proprietary technology. iBioDefense has not commenced any activities to date.</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify">&#160;</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify">iBio Peptide Therapeutics LLC (&#8220;iBio Peptide&#8221;) &#150; iBio Peptide, a wholly-owned subsidiary, is a Delaware limited liability company formed in November 2013. iBio Peptide has not commenced any activities to date.</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify">&#160;</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify">iBIO DO BRASIL BIOFARMAC&#202;UTICA LTDA. (&#8220;iBio Brazil&#8221;) &#150; iBio Brazil is a subsidiary organized in Brazil in which the Company has a <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> 99</font>% interest. iBio Brazil was formed to manage and expand the Company&#8217;s business activities in Brazil. The activities of iBio Brazil are intended to include coordination and expansion of the Company&#8217;s existing relationship with Fundacao Oswaldo Cruz/FioCruz (&#8220;FioCruz&#8221;) beyond the current Yellow Fever Vaccine program (see Note 7) and development of additional products with private sector participants for the Brazilian market. iBio Brazil commenced operations during the first quarter of the fiscal year ended June 30, 2015.</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify">&#160;</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify">iBio CMO LLC (&#8220;iBio CMO&#8221;) &#150; iBio CMO is a Delaware limited liability company formed on December 16, 2015 to develop and manufacture plant-made pharmaceuticals. As of December 31, 2015, the Company owned <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> 100</font>% of iBio CMO. On January 13, 2016, the Company entered into a contract manufacturing joint venture with an affiliate of Eastern Capital Limited (&#8220;Eastern&#8221;), a stockholder of the Company (the &#8220;Eastern Affiliate&#8221;). The Eastern Affiliate contributed $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">15</font> million in cash for a <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> 30</font>% interest in iBio CMO. The Company retained a <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> 70</font>% interest in iBio CMO and contributed a royalty bearing license which grants iBio CMO a non-exclusive license to use the Company&#8217;s proprietary technologies for research purposes and an exclusive U.S. license for manufacturing purposes. The Company retained the exclusive right to grant product licenses to those who wish to sell or distribute products made using the Company&#8217;s technologies.</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify">&#160;</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify">iBio CMO&#8217;s operations take place in Bryan, Texas in a facility controlled by another affiliate of Eastern (the &#8220;Second Eastern Affiliate&#8221;) as sublandlord. The facility is a <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> 139,000</font> square foot Class A life sciences building on the campus of Texas A&amp;M University, designed and equipped for plant-made manufacture of biopharmaceuticals. The Second Affiliate granted iBio CMO a <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> 34</font>-year sublease for the facility as well as certain equipment (see Note 8). Commercial operations commenced in January 2016. iBio CMO expects to operate on the basis of three parallel lines of business: (1) Development and manufacturing of third party products; (2) Development and production of iBio&#8217;s proprietary product(s) for treatment of fibrotic diseases; and (3) Commercial technology transfer services.</div> </div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table>
us-gaap Use Of Estimates
UseOfEstimates
<div style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif "> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt"> </div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt" align="justify"><i><font style="FONT-SIZE: 10pt">Use of Estimates</font></i></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-SIZE: 10pt">The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect reported amounts of assets and liabilities, disclosures of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting period. These estimates include the valuation of intellectual property, legal and contractual contingencies and share-based compensation. Although management bases its estimates on historical experience and various other assumptions that are believed to be reasonable under the circumstances, actual results could differ from these estimates.</font></div> </div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table>
CY2016Q1 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
-349000 USD
CY2015Q1 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
0 USD
us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
-349000 USD
us-gaap Interest Paid
InterestPaid
0 USD
us-gaap Increase Decrease In Security Deposits
IncreaseDecreaseInSecurityDeposits
-28000 USD
us-gaap Increase Decrease In Security Deposits
IncreaseDecreaseInSecurityDeposits
0 USD
us-gaap Increase Decrease In Finished Goods And Work In Process Inventories
IncreaseDecreaseInFinishedGoodsAndWorkInProcessInventories
58000 USD
us-gaap Increase Decrease In Finished Goods And Work In Process Inventories
IncreaseDecreaseInFinishedGoodsAndWorkInProcessInventories
0 USD
us-gaap Proceeds From Minority Shareholders
ProceedsFromMinorityShareholders
15000000 USD
us-gaap Proceeds From Minority Shareholders
ProceedsFromMinorityShareholders
0 USD
us-gaap Repayments Of Long Term Capital Lease Obligations
RepaymentsOfLongTermCapitalLeaseObligations
525000 USD
us-gaap Repayments Of Long Term Capital Lease Obligations
RepaymentsOfLongTermCapitalLeaseObligations
0 USD
CY2016Q1 us-gaap Settlement Liabilities Current
SettlementLiabilitiesCurrent
1875000 USD
CY2016Q1 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
26065000 USD
CY2015Q2 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
40000 USD
CY2016Q1 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
290000 USD
CY2015Q2 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
27000 USD
CY2016Q1 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment Excluding Capital Leased Assets
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipmentExcludingCapitalLeasedAssets
31000 USD
CY2015Q2 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment Excluding Capital Leased Assets
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipmentExcludingCapitalLeasedAssets
27000 USD
CY2016Q1 us-gaap Capital Leases Lessee Balance Sheet Assets By Major Class Accumulated Deprecation
CapitalLeasesLesseeBalanceSheetAssetsByMajorClassAccumulatedDeprecation
259000 USD
CY2015Q2 us-gaap Capital Leases Lessee Balance Sheet Assets By Major Class Accumulated Deprecation
CapitalLeasesLesseeBalanceSheetAssetsByMajorClassAccumulatedDeprecation
0 USD
CY2016Q1 us-gaap Interest Expense Related Party
InterestExpenseRelatedParty
323000 USD
CY2015Q1 us-gaap Interest Expense Related Party
InterestExpenseRelatedParty
0 USD
us-gaap Interest Expense Related Party
InterestExpenseRelatedParty
323000 USD
us-gaap Interest Expense Related Party
InterestExpenseRelatedParty
0 USD
CY2016Q1 us-gaap Interest Expense
InterestExpense
323000 USD
CY2015Q1 us-gaap Interest Expense
InterestExpense
0 USD
us-gaap Interest Expense
InterestExpense
323000 USD
us-gaap Interest Expense
InterestExpense
0 USD
CY2016Q1 us-gaap Due To Related Parties Current
DueToRelatedPartiesCurrent
443000 USD
CY2015Q2 us-gaap Due To Related Parties Current
DueToRelatedPartiesCurrent
0 USD
CY2016Q1 us-gaap Capital Leases Income Statement Interest Expense
CapitalLeasesIncomeStatementInterestExpense
323000 USD
CY2015Q1 us-gaap Capital Leases Income Statement Interest Expense
CapitalLeasesIncomeStatementInterestExpense
0 USD
us-gaap Capital Leases Income Statement Interest Expense
CapitalLeasesIncomeStatementInterestExpense
323000 USD
us-gaap Capital Leases Income Statement Interest Expense
CapitalLeasesIncomeStatementInterestExpense
0 USD
CY2016Q1 us-gaap Capital Leases Future Minimum Payments Due Current
CapitalLeasesFutureMinimumPaymentsDueCurrent
2100000 USD
CY2016Q1 us-gaap Capital Leases Future Minimum Payments Due In Two Years
CapitalLeasesFutureMinimumPaymentsDueInTwoYears
2100000 USD
CY2016Q1 us-gaap Capital Leases Future Minimum Payments Due In Three Years
CapitalLeasesFutureMinimumPaymentsDueInThreeYears
2100000 USD
CY2016Q1 us-gaap Capital Leases Future Minimum Payments Due In Four Years
CapitalLeasesFutureMinimumPaymentsDueInFourYears
2100000 USD
CY2016Q1 us-gaap Capital Leases Future Minimum Payments Due In Five Years
CapitalLeasesFutureMinimumPaymentsDueInFiveYears
2100000 USD
CY2016Q1 us-gaap Capital Leases Future Minimum Payments Due Thereafter
CapitalLeasesFutureMinimumPaymentsDueThereafter
60900000 USD
CY2016Q1 us-gaap Capital Leases Future Minimum Payments Due
CapitalLeasesFutureMinimumPaymentsDue
71400000 USD
ibio Capital Lease Obligation Description
CapitalLeaseObligationDescription
The base rent under the sublease will be increased by any increase in the base rent under the ground lease as a result of such adjustments. In addition to the base rent, iBio CMO is required to pay, for each calendar year during the term, a portion of the total gross sales for products manufactured or processed at the facility, equal to 7% of the first $5,000,000 of gross sales, 6% of gross sales between $5,000,001 and $25,000,000, 5% of gross sales between $25,000,001 and $50,000,000, 4% of gross sales between $50,000,001 and $100,000,000, and 3% of gross sales between $100,000,001 and $500,000,000. However, if for any calendar year period from January 1, 2018 through December 31, 2019, iBio CMOs applicable gross sales are less than $5,000,000, or for any calendar year period from and after January 1, 2020, its applicable gross sales are less than $10,000,000
ibio Sub Lease Expiration Period
SubLeaseExpirationPeriod
P34Y
us-gaap Lease And Rental Expense
LeaseAndRentalExpense
2100000 USD
ibio Common Stock Issued For Warrant Exercises Value
CommonStockIssuedForWarrantExercisesValue
1009000 USD
us-gaap Number Of Operating Segments
NumberOfOperatingSegments
1 pure
CY2016Q1 us-gaap Revenue From Grants
RevenueFromGrants
9000 USD
us-gaap Revenue From Grants
RevenueFromGrants
9000 USD
us-gaap Revenue From Grants
RevenueFromGrants
0 USD
CY2015Q1 us-gaap Revenue From Grants
RevenueFromGrants
0 USD
CY2016Q1 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
92000 USD
CY2015Q1 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
88000 USD
CY2016Q1 us-gaap Profit Loss
ProfitLoss
-3385000 USD
CY2015Q1 us-gaap Profit Loss
ProfitLoss
-1677000 USD
CY2015Q1 us-gaap Net Income Loss
NetIncomeLoss
-1677000 USD
us-gaap Net Income Loss
NetIncomeLoss
-4740000 USD
CY2016Q1 us-gaap Net Income Loss
NetIncomeLoss
-3036000 USD
us-gaap Net Income Loss
NetIncomeLoss
-7087000 USD
CY2016Q1 us-gaap Depreciation
Depreciation
260000 USD
CY2016Q1 us-gaap Depreciation
Depreciation
263000 USD
CY2015Q1 us-gaap Depreciation
Depreciation
11000 USD

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