iBio announces offering of common stock, warrants

iBio (IBIO) announced it has commenced an underwritten public offering of (i) pre-funded warrants to purchase shares of iBio’s common stock, and (ii) accompanying Series G warrants each representing the right to purchase (a) a fraction of a share of iBio’s common stock, or a pre-funded warrant in lieu thereof, and (b) Series H warrants each representing the right to purchase a fraction of a share of iBio’s common stock, or a pre-funded warrant in lieu thereof. All of the securities to be sold in the proposed offering will be offered by iBio. iBio intends to use the net proceeds received from the offering to advance its preclinical cardiometabolic programs, including IBIO-610, the myostatin and activin A bispecific, and IBIO-600 programs, through key development milestones, as well as to continue to progress its other preclinical pipeline assets, and the balance, if any, to fund iBio’s working capital requirements and for other general corporate purposes. Leerink Partners is acting as the lead bookrunning manager for the offering. LifeSci Capital and Oppenheimer & Co. are acting as bookrunning managers. Brookline Capital Markets, a division of Arcadia Securities, LLC, is acting as a financial advisor to iBio.