iBio Announces Proposed Public Offering to Advance Preclinical Pipeline Assets

iBio has commenced an underwritten public offering of pre-funded warrants to purchase shares of common stock and accompanying Series G and H warrants. The net proceeds will be used to advance preclinical cardiometabolic programs, including IBIO-610 and IBIO-600, and fund working capital requirements and other general corporate purposes. Leerink Partners is the lead bookrunning manager, with LifeSci Capital and Oppenheimer & Co. as bookrunning managers.

iBio, Inc. (Nasdaq: IBIO), an AI-driven precision antibody therapies company, has announced a proposed underwritten public offering. The offering includes pre-funded warrants to purchase common stock and accompanying Series G and Series H warrants. The company plans to use the proceeds to advance its preclinical cardiometabolic programs, including IBIO-610 (myostatin and activin A bispecific) and IBIO-600 programs, as well as other preclinical pipeline assets. Leerink Partners is leading the offering as the lead bookrunning manager, with LifeSci Capital and Oppenheimer & Co. serving as additional bookrunning managers.

The offering is being conducted under a shelf registration statement (File No. 333-280680) that became effective recently on August 6, 2024. The proceeds are earmarked for advancing preclinical cardiometabolic programs, specifically highlighting IBIO-610 and IBIO-600 through key development milestones. The remaining funds will support other preclinical assets and general corporate purposes, including working capital requirements.

The company has assembled a syndicate of investment banks, with Leerink Partners as the lead bookrunner, alongside LifeSci Capital and Oppenheimer as additional bookrunners. This multi-bank approach typically indicates a substantial offering size relative to the company's market capitalization.

iBio, positioned as an "AI-driven innovator of precision antibody therapies," is seeking to accelerate the development of its preclinical pipeline before reaching costlier clinical-stage milestones. The capital infusion appears aimed at advancing its cutting-edge therapeutic solutions for cardiometabolic diseases, obesity, cancer, and other hard-to-treat conditions.

The offering remains contingent on market conditions, with no guarantee of completion, size, or final terms. Investors should closely monitor the progress and potential impact of this offering on iBio's financial health and future prospects.

References:
[1] https://www.stocktitan.net/news/IBIO/i-bio-announces-proposed-public-nvdxy9gdhpml.html