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SAN DIEGO - iBio, Inc. (NASDAQ:IBIO), a biotechnology company specializing in AI-driven antibody therapies, has reached an agreement with institutional investors for the cash exercise of existing warrants, leading to the issuance of over 5.6 million shares at a reduced price of $1.11 each. The stock, which has shown significant volatility with a 50% gain over the past week according to InvestingPro data, will generate approximately $6.2 million in gross proceeds from this transaction.
The investors, who previously held warrants, agreed to the cash exercise, which is expected to close on or about April 30, 2025, subject to standard closing conditions. In return, they received new warrants to purchase up to approximately 11.25 million shares at $0.86 per share, exercisable over the next five years.
The net proceeds from this warrant inducement transaction are earmarked for working capital and general corporate purposes. Chardan served as the exclusive financial advisor for the deal.
The securities involved in this private placement have not been registered under the Securities Act of 1933 or state securities laws, limiting their sale in the U.S. to certain conditions. iBio has committed to filing a registration statement with the Securities and Exchange Commission for the shares issuable upon exercise of the new warrants.
iBio is at the forefront of integrating artificial intelligence and computational biology to develop novel biopharmaceuticals targeting diseases with significant unmet medical needs, including cardiometabolic disorders, obesity, and cancer.
The information disclosed is based on a press release statement from iBio, Inc. and does not constitute an offer to sell these securities. The company’s forward-looking statements about the use of proceeds and the expected completion of the offering are subject to market conditions and other factors.
In other recent news, iBio, Inc. has reported promising data from its study on the experimental drug IBIO-600, an anti-myostatin antibody. The study, conducted on non-human primates, suggests that the drug may have an extended half-life of up to 130 days in humans, potentially allowing for a dosing schedule of once every three to six months. This development could significantly reduce the dosing burden for patients. Additionally, iBio has announced preclinical data for an Activin E antibody, which demonstrated significant weight and body fat loss in obese mice when used alone or in combination with semaglutide. The company is progressing both IBIO-600 and the Activin E antibody as part of its cardiometabolic and obesity pipeline. iBio plans to submit a regulatory submission for IBIO-600 in the first quarter of 2026. These findings, while promising, are based on early-stage data and have not been independently verified. Investors are advised to consider the inherent uncertainties associated with such preliminary results.
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