2021 Q4 Form 10-Q Financial Statement

#000155837022001104 Filed on February 14, 2022

View on sec.gov

Income Statement

Concept 2021 Q4 2020 Q4
Revenue $168.0K $705.0K
YoY Change -76.17% 124.52%
Cost Of Revenue $113.0K $211.0K
YoY Change -46.45%
Gross Profit $55.00K $494.0K
YoY Change -88.87%
Gross Profit Margin 32.74% 70.07%
Selling, General & Admin $8.362M $5.806M
YoY Change 44.02% 124.95%
% of Gross Profit 15203.64% 1175.3%
Research & Development $3.331M $2.374M
YoY Change 40.31% 167.34%
% of Gross Profit 6056.36% 480.57%
Depreciation & Amortization $517.0K $114.0K
YoY Change 353.51% -79.72%
% of Gross Profit 940.0% 23.08%
Operating Expenses $11.69M $8.039M
YoY Change 45.45% 131.74%
Operating Profit -$11.64M -$7.545M
YoY Change 54.25%
Interest Expense $328.0K $615.0K
YoY Change -46.67% -200.65%
% of Operating Profit
Other Income/Expense, Net -$282.0K -$586.0K
YoY Change -51.88% -29400.0%
Pretax Income -$11.92M -$8.131M
YoY Change 46.6% 116.02%
Income Tax $0.00
% Of Pretax Income
Net Earnings -$11.92M -$8.129M
YoY Change 46.64% 116.08%
Net Earnings / Revenue -7095.24% -1153.05%
Basic Earnings Per Share -$1.37
Diluted Earnings Per Share -$54.68K -$43.22K
COMMON SHARES
Basic Shares Outstanding 218.0M
Diluted Shares Outstanding 8.715M

Balance Sheet

Concept 2021 Q4 2020 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $57.38M $107.6M
YoY Change -46.7% 2859.77%
Cash & Equivalents $39.21M $91.25M
Short-Term Investments $18.17M $16.40M
Other Short-Term Assets $2.922M $1.932M
YoY Change 51.24% 1223.29%
Inventory $1.986M $1.071M
Prepaid Expenses
Receivables $111.0K $232.0K
Other Receivables $5.100M $0.00
Total Short-Term Assets $67.50M $110.9M
YoY Change -39.13% 2667.21%
LONG-TERM ASSETS
Property, Plant & Equipment $32.88M $5.010M
YoY Change 556.31% -83.89%
Goodwill
YoY Change
Intangibles $5.041M $1.185M
YoY Change 325.4%
Long-Term Investments $1.760M
YoY Change
Other Assets $7.176M $24.00K
YoY Change 29800.0% 0.0%
Total Long-Term Assets $58.95M $34.52M
YoY Change 70.76% 6.63%
TOTAL ASSETS
Total Short-Term Assets $67.50M $110.9M
Total Long-Term Assets $58.95M $34.52M
Total Assets $126.4M $145.4M
YoY Change -13.04% 299.64%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.739M $2.409M
YoY Change 13.7% 445.02%
Accrued Expenses $2.842M $1.683M
YoY Change 68.87% 59.83%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $465.0K
YoY Change -100.0%
Long-Term Debt Due $45.00K $312.0K
YoY Change -85.58% 44.44%
Total Short-Term Liabilities $8.346M $6.102M
YoY Change 36.77% 28.63%
LONG-TERM LIABILITIES
Long-Term Debt $22.10M $31.98M
YoY Change -30.89% -0.55%
Other Long-Term Liabilities $5.400M
YoY Change
Total Long-Term Liabilities $27.50M $31.98M
YoY Change -14.0% -0.55%
TOTAL LIABILITIES
Total Short-Term Liabilities $8.346M $6.102M
Total Long-Term Liabilities $27.50M $31.98M
Total Liabilities $35.85M $38.07M
YoY Change -5.83% 3.19%
SHAREHOLDERS EQUITY
Retained Earnings -$194.5M
YoY Change
Common Stock $285.2M
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $90.60M $107.3M
YoY Change
Total Liabilities & Shareholders Equity $126.4M $145.4M
YoY Change -13.04% 299.64%

Cashflow Statement

Concept 2021 Q4 2020 Q4
OPERATING ACTIVITIES
Net Income -$11.92M -$8.129M
YoY Change 46.64% 116.08%
Depreciation, Depletion And Amortization $517.0K $114.0K
YoY Change 353.51% -79.72%
Cash From Operating Activities -$10.69M -$8.419M
YoY Change 26.93% 147.25%
INVESTING ACTIVITIES
Capital Expenditures -$2.133M -$1.007M
YoY Change 111.82% 384.13%
Acquisitions
YoY Change
Other Investing Activities $1.161M -$11.95M
YoY Change -109.72%
Cash From Investing Activities -$972.0K -$12.96M
YoY Change -92.5% 6128.85%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -6.017M 35.08M
YoY Change -117.15% 581.77%
NET CHANGE
Cash From Operating Activities -10.69M -8.419M
Cash From Investing Activities -972.0K -12.96M
Cash From Financing Activities -6.017M 35.08M
Net Change In Cash -17.68M 13.71M
YoY Change -228.93% 794.26%
FREE CASH FLOW
Cash From Operating Activities -$10.69M -$8.419M
Capital Expenditures -$2.133M -$1.007M
Free Cash Flow -$8.553M -$7.412M
YoY Change 15.39% 131.84%

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<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-weight:bold;margin:0pt 0pt 10pt 0pt;">1.   Nature of Business</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 10pt 0pt;">iBio, Inc. (“we”, “us”, “our”, “iBio”, “iBio, Inc” or the “Company”) is a developer of next-generation biopharmaceuticals and the pioneer of the sustainable <i style="font-style:italic;">FastPharming </i>Manufacturing System<sup style="font-size:7.5pt;line-height:100%;top:0pt;vertical-align:top;"> ®</sup>. The Company is applying its technologies to research and develop novel product candidates to treat or prevent fibrotic diseases, cancers, and infectious diseases. The Company is using its <i style="font-style:italic;">FastPharming</i> Manufacturing System (“<i style="font-style:italic;">FastPharming</i>” or the “<i style="font-style:italic;">FastPharming</i> System”) and <i style="font-style:italic;">Glycaneering</i> Services<sup style="font-size:7.5pt;line-height:100%;top:0pt;vertical-align:top;"> TM</sup> to help rapidly and cost effectively build a portfolio of biologic drug candidates as well as to create proteins for others by contract or via the Company’s catalog.<br/><br/>The <i style="font-style:italic;">FastPharming</i> System is iBio’s proprietary approach to plant-made pharmaceutical and protein production. It uses hydroponically grown, transiently-transfected plants, (typically <i style="font-style:italic;">Nicotiana benthamiana,</i> a relative of the tobacco plant), novel expression vectors, a large-scale transient transfection method, and other technologies that can be used to produce complex therapeutic proteins emerging from our own, our clients’ and our potential clients’ pipelines.  We believe the <i style="font-style:italic;">FastPharming</i> System enables biologics production that is faster, more cost-effective and more environmentally friendly than other approaches.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 10pt 0pt;">The Company operates in two segments: (i) <b style="font-weight:bold;">Biopharmaceuticals:</b> its biologics development and licensing segment which is focused on drug development in two primary areas: Therapeutics (currently Fibrotics and Oncology) and Vaccines (human and animal health vaccines), and (ii) <b style="font-weight:bold;">Bioprocessing: </b>focused on two business lines: Services and Research &amp; Bioprocess Products (“RBP”).</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 10pt 0pt;"><b style="font-weight:bold;text-decoration-color:#000000;text-decoration-line:underline;text-decoration-style:solid;">Biopharmaceuticals:</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 10pt 0pt;">iBio’s Biopharmaceutical segment currently focuses on developing products using the <i style="font-style:italic;">FastPharming System</i> in the follow areas:</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 10pt 0pt;"><b style="font-weight:bold;">Therapeutics</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.25;text-align:justify;margin:0pt 0pt 12pt 36pt;"><span style="font-style:italic;font-weight:bold;text-decoration-color:#000000;text-decoration-line:underline;text-decoration-style:solid;">Anti-Fibrotics</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 12pt 36pt;">Fibrosis is a pathological disorder in which connective tissue replaces normal parenchymal tissue to the extent that it goes unchecked, leading to considerable tissue remodeling and the formation of permanent scar tissue. Fibrosis can occur in many tissues within the body, including the lungs (e.g., idiopathic pulmonary fibrosis (“IPF”) and skin (e.g., systemic scleroderma).</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.25;text-align:justify;margin:0pt 0pt 10pt 36pt;"><span style="font-style:italic;font-weight:bold;text-decoration-color:#000000;text-decoration-line:underline;text-decoration-style:solid;">Oncology</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.25;text-align:justify;margin:0pt 0pt 10pt 36pt;">iBio’s oncology efforts seek to identify therapeutics to aid in the treatment of cancer. Although there are a large number of cancer treatments available, significant unmet need exists in many types of cancer for improved treatments. Cancer remains the second most frequent cause of death worldwide. New research on cancers, especially on how to boost or support the immune system to treat cancer, is leading to a number of new treatments and new research programs with the potential to further improve cancer therapies. </p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.25;text-align:justify;margin:0pt 0pt 10pt 36pt;">iBio’s <i style="font-style:italic;">Glycaneering </i>Services provides iBio an opportunity to develop cancer treatments with enhanced potency.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.25;text-align:justify;margin:0pt 0pt 10pt 0pt;"><b style="font-weight:bold;">Vaccines</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.25;text-align:justify;margin:0pt 0pt 10pt 36pt;"><span style="font-style:italic;font-weight:bold;text-decoration-color:#000000;text-decoration-line:underline;text-decoration-style:solid;">Human Health: SARS-CoV-2</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 10pt 36pt;">Coronavirus disease 2019 is an infectious disease caused by severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2) (“COVID”). It was first identified in December 2019 in Wuhan, Hubei, China, and has resulted in an ongoing pandemic. Common symptoms include fever, cough, fatigue, shortness of breath or breathing difficulties, and loss of smell and taste. Some people develop acute respiratory distress syndrome (ARDS), possibly precipitated by cytokine dysregulation, multi-organ failure, septic shock, and blood clots.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.25;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;"><span style="font-style:italic;font-weight:bold;text-decoration-color:#000000;text-decoration-line:underline;text-decoration-style:solid;">Animal Health:  Classical Swine Fever</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 0pt 36pt;">Classical swine fever (“CSF”) is a contagious, often fatal disease affecting both feral and domesticated pigs. Outbreaks in Europe, Asia, Africa, and South America have not only adversely impacted animal health and food security but have also had severe socioeconomic impacts on both the pig industry worldwide and small-scale pig farming. Currently available vaccines can be efficient at triggering rapid animal immune response and protecting swine populations when combined with culling of </p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 12pt 36pt;">infected pigs, but do not allow the differentiation of infected from vaccinated animals (“DIVA”), nor are they approved for use in the United States. The development of DIVA-compatible and efficacious vaccination solutions remains a top priority to prevent the economic impacts of a CSF outbreak including supply disruptions, export restrictions and reduced food security.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 12pt 36pt;">iBio’s current portfolio of products consists of the following:</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 12pt 0pt;"><b style="font-weight:bold;text-decoration-color:#000000;text-decoration-line:underline;text-decoration-style:solid;"><img alt="A screenshot of a computer Description automatically generated with medium confidence" src="ibio-20211231x10q001.jpg" style="display:inline-block;height:263.75pt;left:0%;padding-bottom:0.25pt;position:relative;top:0pt;width:540pt;"/></b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 12pt 0pt;"><b style="font-weight:bold;text-decoration-color:#000000;text-decoration-line:underline;text-decoration-style:solid;">Bioprocessing:</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 12pt 36pt;"><span style="font-style:italic;font-weight:bold;text-decoration-color:#000000;text-decoration-line:underline;text-decoration-style:solid;">Services</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 6pt 36pt;">iBio’s contract development and manufacturing services use iBio’s <i style="font-style:italic;">FastPharming</i> and <i style="font-style:italic;">Glycaneering </i>intellectual property and know how to develop or manufacture proteins for others per a contract or to provide bioprocess services. </p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 6pt 36pt;"><span style="display:inline-block;visibility:hidden;width:0pt;">​</span><br/><span style="font-style:italic;font-weight:bold;text-decoration-color:#000000;text-decoration-line:underline;text-decoration-style:solid;">Research &amp; Bioprocess Products</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 10pt 36pt;">iBio is developing proteins for use in cutting-edge research and cGMP manufacturing where the demand for high-quality products continues to evolve. The Company offers recombinant proteins for third parties on a catalog and custom basis. These catalog products often can lead to opportunities to provide CDMO services or identify in-licensing opportunities for our proprietary biotech pipeline.</p>
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<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:italic;margin:0pt 0pt 10pt 0pt;">Use of Estimates</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 10pt 0pt;">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 liquidity assertions, the discount rate utilized in lease accounting models, 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.</p>
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CY2020Q4 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
187000
us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
499000
CY2021Q4 us-gaap Restricted Cash Noncurrent
RestrictedCashNoncurrent
5940000
CY2021Q2 us-gaap Restricted Cash Noncurrent
RestrictedCashNoncurrent
0
CY2021Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
39205000
CY2021Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
77404000
CY2021Q4 us-gaap Cash Cash Equivalents And Short Term Investments
CashCashEquivalentsAndShortTermInvestments
45145000
CY2021Q2 us-gaap Cash Cash Equivalents And Short Term Investments
CashCashEquivalentsAndShortTermInvestments
77404000
us-gaap Impairment Of Investments
ImpairmentOfInvestments
0
CY2021Q4 us-gaap Inventory Raw Materials And Supplies
InventoryRawMaterialsAndSupplies
1955000
CY2021Q2 us-gaap Inventory Raw Materials And Supplies
InventoryRawMaterialsAndSupplies
0
CY2021Q4 us-gaap Inventory Work In Process
InventoryWorkInProcess
31000
CY2021Q2 us-gaap Inventory Work In Process
InventoryWorkInProcess
27000
CY2021Q4 us-gaap Inventory Net
InventoryNet
1986000
CY2021Q2 us-gaap Inventory Net
InventoryNet
27000
us-gaap Goodwill And Intangible Asset Impairment
GoodwillAndIntangibleAssetImpairment
0
us-gaap Goodwill And Intangible Asset Impairment
GoodwillAndIntangibleAssetImpairment
0
CY2021Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.001
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0
us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 10pt 0pt;"><i style="font-style:italic;">Concentrations of Credit Risk</i></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 10pt 0pt;"><span style="text-decoration-color:#000000;text-decoration-line:underline;text-decoration-style:solid;">Cash</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 10pt 0pt;">The Company maintains principally all cash balances in two financial institutions which, at times, may exceed the insured amounts. The exposure to the Company is solely dependent upon daily balances and the strength of the financial institutions. The Company has not incurred any losses on these accounts. At December 31, 2021, and June 30, 2021, amounts in excess of insured limits were approximately $14,697,000 and $27,013,000, respectively.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 10pt 0pt;"><span style="text-decoration-color:#000000;text-decoration-line:underline;text-decoration-style:solid;">Revenue</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;">During the three months ended December 31, 2021, the Company generated 100% of its revenue from four customers with two customers accounting for approximately 74% and 17% of revenue. During the three months ended December 31, 2020, the Company generated 100% of revenue from four customers with two customers accounting for approximately 64% and 27% of revenue.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"> </p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;">During the six months ended December 31, 2021, the Company generated 100% of its revenue from six customers with four customers accounting for approximately 33%, 23%, 22% and 14% of revenue. During the six months ended December 31, 2020, the Company generated 100% of its revenue from four customers accounting for approximately 40%, 24%, 19% and 17% of revenue.</p>
CY2021Q4 us-gaap Cash Uninsured Amount
CashUninsuredAmount
14697000
CY2021Q2 us-gaap Cash Uninsured Amount
CashUninsuredAmount
27013000
CY2021Q3 ibio Asset Acquisition Consideration Transferred
AssetAcquisitionConsiderationTransferred
7500000
CY2021Q3 ibio Asset Acquisition Consideration Transferred
AssetAcquisitionConsiderationTransferred
7500000
CY2021Q4 us-gaap Finance Lease Right Of Use Asset Accumulated Amortization
FinanceLeaseRightOfUseAssetAccumulatedAmortization
37000
CY2021Q2 us-gaap Finance Lease Right Of Use Asset Accumulated Amortization
FinanceLeaseRightOfUseAssetAccumulatedAmortization
7524000
CY2021Q4 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
18230000
CY2021Q2 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
19603000
CY2021Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
58000
CY2021Q2 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
33000
CY2021Q4 us-gaap Debt Securities Current
DebtSecuritiesCurrent
18172000
CY2021Q2 us-gaap Debt Securities Current
DebtSecuritiesCurrent
19570000
CY2021Q4 us-gaap Available For Sale Securities Debt Maturities Remainder Of Fiscal Year Fair Value
AvailableForSaleSecuritiesDebtMaturitiesRemainderOfFiscalYearFairValue
10765000
CY2021Q2 us-gaap Available For Sale Securities Debt Maturities Remainder Of Fiscal Year Fair Value
AvailableForSaleSecuritiesDebtMaturitiesRemainderOfFiscalYearFairValue
11430000
CY2021Q4 us-gaap Available For Sale Securities Debt Maturities Within One Year Amortized Cost
AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearAmortizedCost
7407000
CY2021Q2 us-gaap Available For Sale Securities Debt Maturities Within One Year Amortized Cost
AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearAmortizedCost
8140000
CY2021Q4 us-gaap Debt Securities Current
DebtSecuritiesCurrent
18172000
CY2021Q2 us-gaap Debt Securities Current
DebtSecuritiesCurrent
19570000
CY2021Q4 us-gaap Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
93000
us-gaap Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
195000
CY2021Q4 us-gaap Equity Securities Fv Ni Cost
EquitySecuritiesFvNiCost
1760000
CY2021Q4 us-gaap Finance Lease Right Of Use Asset
FinanceLeaseRightOfUseAsset
109000
CY2021Q4 ibio Finance Lease Right Of Use Asset Gross
FinanceLeaseRightOfUseAssetGross
146000
CY2021Q2 ibio Finance Lease Right Of Use Asset Gross
FinanceLeaseRightOfUseAssetGross
33635000
CY2021Q2 us-gaap Finance Lease Right Of Use Asset
FinanceLeaseRightOfUseAsset
26111000
CY2021Q4 us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
147000
CY2020Q4 us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
415000
us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
563000
us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
830000
CY2021Q4 us-gaap Area Of Real Estate Property
AreaOfRealEstateProperty
11383
CY2021Q3 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
3603000
CY2021Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
1967000
CY2021Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
5291000
CY2021Q2 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
0
CY2020Q4 us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
612000
CY2021Q4 ibio Lease Cost Due To Increase In Consumer Price Index
LeaseCostDueToIncreaseInConsumerPriceIndex
15000
CY2021Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
34929000
CY2021Q2 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
9853000
CY2021Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
2048000
CY2021Q2 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
1225000
CY2021Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
32881000
CY2021Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
8628000
CY2021Q4 us-gaap Depreciation
Depreciation
517000
CY2020Q4 us-gaap Depreciation
Depreciation
114000
us-gaap Depreciation
Depreciation
823000
us-gaap Depreciation
Depreciation
211000
us-gaap Impairment Of Intangible Assets Excluding Goodwill
ImpairmentOfIntangibleAssetsExcludingGoodwill
0
us-gaap Impairment Of Intangible Assets Excluding Goodwill
ImpairmentOfIntangibleAssetsExcludingGoodwill
0
CY2021Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
10121000
CY2021Q2 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
5820000
CY2021Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
5080000
CY2021Q2 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
4868000
CY2021Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
5041000
CY2021Q2 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
952000
CY2021Q4 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
123000
CY2020Q4 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
73000
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
211000
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
145000
ibio Notes Payable Ppp Loan Disclosure Textblock
NotesPayablePppLoanDisclosureTextblock
<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><b style="font-weight:bold;">12.   Note Payable – PPP Loan</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><span style="margin-bottom:12pt;visibility:hidden;">​</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 10pt 0pt;">On April 16, 2020, the Company received $600,000 related to its filing under the Paycheck Protection Program (“PPP”) and Coronavirus Aid, Relief, and Economic Security Act (the "CARES Act"). The Company elected to treat the Small Business Administration (“SBA”) Loan as debt under ASC 470, “Debt”.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;">On July 21, 2021, iBio was granted forgiveness in repaying the loan.  In accordance with ASC 405-20-40, “<i style="font-style:italic;">Liabilities - Extinguishments of Liabilities – Derecognition</i>”, the Company derecognized the liability and accrued interest in the first quarter of Fiscal 2022.  At June 30, 2021, the Company owed $600,000.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><span style="margin-bottom:12pt;visibility:hidden;">​</span></p>
CY2020Q2 us-gaap Long Term Notes Payable
LongTermNotesPayable
600000
CY2021Q2 us-gaap Notes Payable Current
NotesPayableCurrent
600000
CY2021Q2 ibio Lessor Finance Lease Monthly Rent
LessorFinanceLeaseMonthlyRent
3819
CY2021Q4 us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
147000
CY2020Q4 us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
415000
CY2020Q4 ibio Lease Cost Due To Increase In Consumer Price Index
LeaseCostDueToIncreaseInConsumerPriceIndex
44000
CY2021Q4 us-gaap Lease Cost
LeaseCost
368000
CY2021Q4 us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
206000
CY2020Q4 us-gaap Lease Cost
LeaseCost
1071000
CY2021Q4 ibio Operating Lease Payments Consumer Price Index
OperatingLeasePaymentsConsumerPriceIndex
15000
CY2020Q4 ibio Operating Lease Payments Consumer Price Index
OperatingLeasePaymentsConsumerPriceIndex
44000
CY2021Q4 ibio Financing Cash Flows From Finance Lease Obligation
FinancingCashFlowsFromFinanceLeaseObligation
5722000
CY2020Q4 ibio Financing Cash Flows From Finance Lease Obligation
FinancingCashFlowsFromFinanceLeaseObligation
74000
us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
563000
us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
830000
us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
815000
us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
1226000
ibio Lease Cost Due To Increase In Consumer Price Index
LeaseCostDueToIncreaseInConsumerPriceIndex
64000
ibio Lease Cost Due To Increase In Consumer Price Index
LeaseCostDueToIncreaseInConsumerPriceIndex
86000
us-gaap Lease Cost
LeaseCost
1442000
us-gaap Lease Cost
LeaseCost
2142000
ibio Operating Lease Payments Consumer Price Index
OperatingLeasePaymentsConsumerPriceIndex
64000
ibio Operating Lease Payments Consumer Price Index
OperatingLeasePaymentsConsumerPriceIndex
86000
ibio Financing Cash Flows From Finance Lease Obligation
FinancingCashFlowsFromFinanceLeaseObligation
5810000
ibio Financing Cash Flows From Finance Lease Obligation
FinancingCashFlowsFromFinanceLeaseObligation
147000
CY2021Q4 us-gaap Finance Lease Right Of Use Asset
FinanceLeaseRightOfUseAsset
109000
CY2021Q2 us-gaap Finance Lease Right Of Use Asset
FinanceLeaseRightOfUseAsset
26111000
CY2021Q4 us-gaap Finance Lease Liability Current
FinanceLeaseLiabilityCurrent
45000
CY2021Q2 us-gaap Finance Lease Liability Current
FinanceLeaseLiabilityCurrent
367000
CY2021Q4 us-gaap Finance Lease Liability Noncurrent
FinanceLeaseLiabilityNoncurrent
51000
CY2021Q2 us-gaap Finance Lease Liability Noncurrent
FinanceLeaseLiabilityNoncurrent
31755000
CY2021Q4 us-gaap Finance Lease Weighted Average Remaining Lease Term1
FinanceLeaseWeightedAverageRemainingLeaseTerm1
P2Y3M
CY2021Q2 us-gaap Finance Lease Weighted Average Remaining Lease Term1
FinanceLeaseWeightedAverageRemainingLeaseTerm1
P28Y6M29D
CY2021Q4 us-gaap Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
0.0625
CY2021Q2 us-gaap Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
0.07606
CY2021Q4 us-gaap Finance Lease Liability Payments Due Next Twelve Months
FinanceLeaseLiabilityPaymentsDueNextTwelveMonths
45000
CY2021Q4 ibio Finance Lease Liability Interest Payments Due Next Twelve Months
FinanceLeaseLiabilityInterestPaymentsDueNextTwelveMonths
5000
CY2021Q4 ibio Finance Lease Liability Principal And Interest Payments Due Next Twelve Months
FinanceLeaseLiabilityPrincipalAndInterestPaymentsDueNextTwelveMonths
50000
CY2021Q4 us-gaap Finance Lease Liability Payments Due Year Two
FinanceLeaseLiabilityPaymentsDueYearTwo
40000
CY2021Q4 ibio Finance Lease Liability Interest Payments Due Year Two
FinanceLeaseLiabilityInterestPaymentsDueYearTwo
2000
CY2021Q4 ibio Finance Lease Liability Principal And Interest Payments Due Year Two
FinanceLeaseLiabilityPrincipalAndInterestPaymentsDueYearTwo
42000
CY2021Q4 us-gaap Finance Lease Liability Payments Due Year Three
FinanceLeaseLiabilityPaymentsDueYearThree
11000
CY2021Q4 ibio Finance Lease Liability Interest Payments Due Year Three
FinanceLeaseLiabilityInterestPaymentsDueYearThree
0
CY2021Q4 ibio Finance Lease Liability Principal And Interest Payments Due Year Three
FinanceLeaseLiabilityPrincipalAndInterestPaymentsDueYearThree
11000
CY2021Q4 us-gaap Finance Lease Liability Payments Due
FinanceLeaseLiabilityPaymentsDue
96000
CY2021Q4 ibio Finance Lease Liability Interest Payments Due
FinanceLeaseLiabilityInterestPaymentsDue
7000
CY2021Q4 ibio Finance Lease Liability Principal And Interest Payments Due
FinanceLeaseLiabilityPrincipalAndInterestPaymentsDue
103000
CY2021Q4 us-gaap Finance Lease Liability Current
FinanceLeaseLiabilityCurrent
45000
CY2021Q4 us-gaap Finance Lease Liability Noncurrent
FinanceLeaseLiabilityNoncurrent
51000
CY2021Q3 us-gaap Area Of Real Estate Property
AreaOfRealEstateProperty
11383
CY2021Q3 us-gaap Lessee Operating Lease Term Of Contract
LesseeOperatingLeaseTermOfContract
P88M
CY2021Q3 ibio Lessee Operating Lease Monthly Rent
LesseeOperatingLeaseMonthlyRent
51223
CY2021Q3 ibio Lessee Operating Lease Annual Percentage Increase In Base Rent
LesseeOperatingLeaseAnnualPercentageIncreaseInBaseRent
0.03
CY2021Q3 us-gaap Tenant Improvements
TenantImprovements
81860
CY2021Q4 us-gaap Operating Lease Cost
OperatingLeaseCost
177000
CY2021Q4 ibio Total Operating Lease Costs
TotalOperatingLeaseCosts
177000
CY2021Q4 us-gaap Operating Lease Payments
OperatingLeasePayments
177000
CY2021Q4 ibio Operating Cash Flows From Operating Lease Obligation
OperatingCashFlowsFromOperatingLeaseObligation
10000
us-gaap Operating Lease Cost
OperatingLeaseCost
212000
ibio Total Operating Lease Costs
TotalOperatingLeaseCosts
212000
us-gaap Operating Lease Payments
OperatingLeasePayments
212000
ibio Operating Cash Flows From Operating Lease Obligation
OperatingCashFlowsFromOperatingLeaseObligation
10000
CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
160000
CY2021Q4 ibio Lessee Operating Lease Imputed Interest To Be Paid Year One
LesseeOperatingLeaseImputedInterestToBePaidYearOne
401000
CY2021Q4 ibio Lessee Operating Lease Liability Principal And Imputed Interest To Be Paid Year One
LesseeOperatingLeaseLiabilityPrincipalAndImputedInterestToBePaidYearOne
561000
CY2021Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
1000000
CY2017Q1 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
1000000
CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
407000
CY2021Q4 ibio Lessee Operating Lease Imputed Interest To Be Paid Year Two
LesseeOperatingLeaseImputedInterestToBePaidYearTwo
378000
CY2021Q4 ibio Lessee Operating Lease Liability Principal And Imputed Interest To Be Paid Year Two
LesseeOperatingLeaseLiabilityPrincipalAndImputedInterestToBePaidYearTwo
785000
CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
456000
CY2021Q4 ibio Lessee Operating Lease Imputed Interest To Be Paid Year Three
LesseeOperatingLeaseImputedInterestToBePaidYearThree
347000
CY2021Q4 ibio Lessee Operating Lease Liability Principal And Imputed Interest To Be Paid Year Three
LesseeOperatingLeaseLiabilityPrincipalAndImputedInterestToBePaidYearThree
803000
CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
511000
CY2021Q4 ibio Lessee Operating Lease Imputed Interest To Be Paid Year Four
LesseeOperatingLeaseImputedInterestToBePaidYearFour
312000
CY2021Q4 ibio Lessee Operating Lease Liability Principal And Imputed Interest To Be Paid Year Four
LesseeOperatingLeaseLiabilityPrincipalAndImputedInterestToBePaidYearFour
823000
CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
570000
CY2021Q4 ibio Lessee Operating Lease Imputed Interest To Be Paid Year Five
LesseeOperatingLeaseImputedInterestToBePaidYearFive
148000
CY2021Q4 ibio Lessee Operating Lease Liability Principal And Imputed Interest To Be Paid Year Five
LesseeOperatingLeaseLiabilityPrincipalAndImputedInterestToBePaidYearFive
718000
CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
3456000
CY2021Q4 ibio Lessee Operating Lease Imputed Interest To Be Paid After Year Five
LesseeOperatingLeaseImputedInterestToBePaidAfterYearFive
3391000
CY2021Q4 ibio Lessee Operating Lease Liability Principal And Imputed Interest To Be Paid After Year Five
LesseeOperatingLeaseLiabilityPrincipalAndImputedInterestToBePaidAfterYearFive
6847000
CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
5560000
CY2021Q4 ibio Lessee Operating Lease Imputed Interest To Be Paid Total
LesseeOperatingLeaseImputedInterestToBePaidTotal
4977000
CY2021Q4 ibio Lessee Operating Lease Liability Principal And Imputed Interest
LesseeOperatingLeaseLiabilityPrincipalAndImputedInterest
10537000
CY2021Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
160000
CY2021Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
5400000
CY2021Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
275000000
CY2021Q3 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
84500
ibio Stock Issued During Period Shares Warrants Exercised
StockIssuedDuringPeriodSharesWarrantsExercised
29100000
us-gaap Proceeds From Warrant Exercises
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6400000
ibio Stock Issued During Period Shares Cashless Exercise Of Warrants
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5900000
ibio Cashless Exercise Of Warrants Reducing Balance Owed For Notes Payable
CashlessExerciseOfWarrantsReducingBalanceOwedForNotesPayable
1300000
ibio Adjustments To Additional Paid In Capital Class Of Warrant Or Right Expense Recognized
AdjustmentsToAdditionalPaidInCapitalClassOfWarrantOrRightExpenseRecognized
313000
CY2021Q4 us-gaap Net Income Loss
NetIncomeLoss
-11920000
CY2020Q4 us-gaap Net Income Loss
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-8129000
us-gaap Net Income Loss
NetIncomeLoss
-20859000
us-gaap Net Income Loss
NetIncomeLoss
-15662000
CY2021Q4 us-gaap Dividends Preferred Stock Stock
DividendsPreferredStockStock
22000
CY2020Q4 us-gaap Dividends Preferred Stock Stock
DividendsPreferredStockStock
65000
us-gaap Dividends Preferred Stock Stock
DividendsPreferredStockStock
88000
us-gaap Dividends Preferred Stock Stock
DividendsPreferredStockStock
131000
CY2021Q4 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-11942000
CY2020Q4 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-8194000
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-20947000
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-15793000
CY2021Q4 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
217990000
CY2020Q4 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
188087000
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
217933000
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
175264000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1924000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
616000
CY2021Q4 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.05
CY2020Q4 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.04
us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.10
us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.09
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
17001000
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
4600000
CY2021Q4 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1103000
CY2020Q4 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
265000
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMinimum
0.0080
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMaximum
0.0131
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Minimum
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us-gaap Income Tax Expense Benefit
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CY2021Q4 us-gaap Income Tax Expense Benefit
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us-gaap Effective Income Tax Rate Continuing Operations
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