iBio, Inc. Reports Net Loss of $65 million for Fiscal Year 2023
Annual Revenue of $0
By USInMinutes
Published - Oct 07, 2023, 02:38 PM ET
Last Updated - Oct 07, 2023, 02:38 PM EDT
iBio, Inc. [IBIO], a biotechnology company, has released its financial report for the fiscal year ended June 30, 2023. The company reported a net loss of $65 million for the year, with no revenue generated in the period.
Financial Performance
The financial performance of iBio, Inc. showed a significant decline compared to the previous year. The company's operating loss was $29.3 million, slightly lower than the operating loss of $29.7 million in the previous year. However, other income improved marginally, reaching $32,000 compared to $184,000 in the previous year.
