iBio Explains Recent Filing of Registration Statement
BRYAN, Texas and SAN DIEGO, Oct. 02, 2023 (GLOBE NEWSWIRE) -- In response to investor inquiries received about the post-effective amendment to its Form S-3 on Form S-1 (the “Post-Effective Amendment”) filed on Friday, September 29, 2023 with the United States Securities and Exchange Commission (“SEC”), iBio Inc. (NYSEA:IBIO) (“iBio” or the “Company”), an AI-driven innovator of precision antibody immunotherapies, today provided the following clarification.
The Company filed a registration statement on Form S-3 (Registration No. 333-250973) (the “Original Registration Statement”) declared effective by the SEC on December 7, 2020, which registered up to $200,000,000 of any combination of iBio’s common stock, preferred stock, debt securities, warrants or units comprised of any of the foregoing securities of the Registrant. This Post-Effective Amendment was filed to convert the Original Registration Statement into a registration statement on Form S-1 in order to maintain the registration of certain common stock warrants issued and outstanding in connection with the Company’s December 2022 underwritten public offering, previously registered on the Original Registration Statement.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About iBio, Inc.
iBio develops next-generation biopharmaceuticals uing computational biology and 3D-modeling of subdominant and conformational epitopes, prospectively enabling the discovery of new antibody treatments for hard-to-target cancers and other diseases. iBio’s mission is to decrease drug failures, shorten drug development timelines, and open up new frontiers against the most promising targets. For more information, visit www.ibioinc.com.
Certain statements in this press release constitute "forward-looking statements" within the meaning of the federal securities laws. Words such as "may," "might," "will," "should," "believe," "expect," "anticipate," "estimate," "continue," "predict," "forecast," "project," "plan," "intend" or similar expressions, or statements regarding intent, belief, or current expectations, are forward-looking statements. These forward-looking statements are based upon current estimates and assumptions and include statements regarding filing the registration statement on Form S-1 to maintain the registration of certain common stock warrants issued and outstanding in connection with the Company’s December 2022 underwritten public offering previously registered on the Original Registration Statement. While the Company believes these forward-looking statements are reasonable, undue reliance should not be placed on any such forward-looking statements, which are based on information available to us on the date of this release. These forward-looking statements are subject to various risks and uncertainties, many of which are difficult to predict that could cause actual results to differ materially from current expectations and assumptions from those set forth or implied by any forward-looking statements. Important factors that could cause actual results to differ materially from current expectations include, among others, the registration statement becoming effective; competition; the Company’s ability to retain its key employees or maintain its NYSE American listing; and the other factors discussed in the Company’s filings with the SEC including the Company’s Annual Report on Form 10-K for the year ended June 30, 2023, and the Company’s subsequent filings with the SEC on Forms 10-Q and 8-K. The information in this release is provided only as of the date of this release, and the Company undertakes no obligation to update any forward-looking statements contained in this release on account of new information, future events, or otherwise, except as required by law.
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