Quarterly report pursuant to Section 13 or 15(d)

Segment Reporting

v3.6.0.2
Segment Reporting
 6 Months Ended
Dec. 31, 2016
Segment Reporting [Abstract]  
Segment Reporting Disclosure [Text Block]
15.
Segment Reporting
 
In accordance with FASB ASC 280, “Segment Reporting,” the Company discloses financial and descriptive information about its reportable segments. The Company operates in two segments, iBio, Inc. and iBio CMO. Commencing July 1, 2016, management determined that the activity of iBio CMO should be segregated as a separate segment. In addition, management determined that the activity of iBio Brazil was no longer material and will be included in the activity of iBio, Inc. As such, the segment information for the three and six months ended December 31, 2015 was conformed to the current presentation. These segments are components of the Company about which separate financial information is available and regularly evaluated by the chief operating decision maker in deciding how to allocate resources and in assessing performance.
 
Three Months Ended December 31, 2016 (in thousands)
 
iBio, Inc.
 
iBio CMO
 
Eliminations
 
Total
 
 
 
 
 
 
 
 
 
 
 
Revenues - external customers
 
$
75
 
$
-
 
$
-
 
$
75
 
Revenues – intersegment
 
 
260
 
 
407
 
 
(667)
 
 
-
 
Research and development
 
 
1,016
 
 
447
 
 
(414)
 
 
1,049
 
General and administrative
 
 
1,241
 
 
1,363
 
 
(253)
 
 
2,351
 
Operating loss
 
 
(1,922)
 
 
(1,403)
 
 
-
 
 
(3,325)
 
Interest expense
 
 
-
 
 
(483)
 
 
-
 
 
(483)
 
Interest and other income
 
 
9
 
 
7
 
 
-
 
 
16
 
Consolidated net loss
 
 
(1,913)
 
 
(1,879)
 
 
-
 
 
(3,792)
 
Total assets
 
 
9,870
 
 
34,333
 
 
(15)
 
 
44,188
 
Fixed assets, net
 
 
7
 
 
25,446
 
 
-
 
 
25,453
 
Intangible assets, net
 
 
1,960
 
 
-
 
 
-
 
 
1,960
 
Depreciation expense
 
 
1
 
 
325
 
 
-
 
 
326
 
Amortization of intangible assets
 
 
88
 
 
-
 
 
-
 
 
88
 
 
Three Months Ended December 31, 2015 (in thousands)
 
iBio, Inc.
 
iBio CMO *
 
Eliminations
 
Total
 
 
 
 
 
 
 
 
 
 
 
Revenues - external customers
 
$
134
 
$
-
 
$
-
 
$
134
 
Revenues – intersegment
 
 
-
 
 
-
 
 
-
 
 
-
 
Research and development
 
 
690
 
 
14
 
 
-
 
 
704
 
General and administrative
 
 
1,596
 
 
88
 
 
-
 
 
1,684
 
Operating loss
 
 
(2,152)
 
 
(102)
 
 
-
 
 
(2,254)
 
Interest expense
 
 
-
 
 
-
 
 
-
 
 
-
 
Interest and other income
 
 
8
 
 
-
 
 
-
 
 
8
 
Consolidated net loss
 
 
(2,144)
 
 
(102)
 
 
-
 
 
(2,246)
 
Total assets
 
 
9,416
 
 
-
 
 
-
 
 
9,416
 
Fixed assets, net
 
 
14
 
 
-
 
 
-
 
 
14
 
Intangible assets, net
 
 
2,201
 
 
-
 
 
-
 
 
2,201
 
Depreciation expense
 
 
1
 
 
-
 
 
-
 
 
1
 
Amortization of intangible assets
 
 
91
 
 
-
 
 
-
 
 
91
 
 
Six Months Ended December 31, 2016 (in thousands)
 
iBio, Inc.
 
iBio CMO
 
Eliminations
 
Total
 
 
 
 
 
 
 
 
 
 
 
Revenues - external customers
 
$
161
 
$
49
 
$
-
 
$
210
 
Revenues – intersegment
 
 
412
 
 
589
 
 
(1,001)
 
 
-
 
Research and development
 
 
1,700
 
 
768
 
 
(599)
 
 
1,869
 
General and administrative
 
 
2,588
 
 
2,634
 
 
(402)
 
 
4,820
 
Operating loss
 
 
(3,715)
 
 
(2,764)
 
 
-
 
 
(6,479)
 
Interest expense
 
 
-
 
 
(966)
 
 
-
 
 
(966)
 
Interest and other income
 
 
27
 
 
14
 
 
-
 
 
41
 
Consolidated net loss
 
 
(3,688)
 
 
(3,716)
 
 
-
 
 
(7,404)
 
Total assets
 
 
9,870
 
 
34,333
 
 
(15)
 
 
44,188
 
Fixed assets, net
 
 
7
 
 
25,446
 
 
-
 
 
25,453
 
Intangible assets, net
 
 
1,960
 
 
-
 
 
-
 
 
1,960
 
Depreciation expense
 
 
2
 
 
648
 
 
-
 
 
650
 
Amortization of intangible assets
 
 
176
 
 
-
 
 
-
 
 
176
 
 
Six Months Ended December 31, 2015 (in thousands)
 
iBio, Inc.
 
iBio CMO *
 
Eliminations
 
Total
 
 
 
 
 
 
 
 
 
 
 
Revenues - external customers
 
$
294
 
$
-
 
$
-
 
$
294
 
Revenues – intersegment
 
 
-
 
 
-
 
 
-
 
 
-
 
Research and development
 
 
1,241
 
 
14
 
 
-
 
 
1,255
 
General and administrative
 
 
3,018
 
 
88
 
 
-
 
 
3,106
 
Operating loss
 
 
(3,965)
 
 
(102)
 
 
-
 
 
(4,067)
 
Interest expense
 
 
-
 
 
-
 
 
-
 
 
-
 
Interest and other income
 
 
16
 
 
-
 
 
-
 
 
16
 
Consolidated net loss
 
 
(3,949)
 
 
(102)
 
 
-
 
 
(4,051)
 
Total assets
 
 
9,416
 
 
-
 
 
-
 
 
9,416
 
Fixed assets, net
 
 
14
 
 
-
 
 
-
 
 
14
 
Intangible assets, net
 
 
2,201
 
 
-
 
 
-
 
 
2,201
 
Depreciation expense
 
 
2
 
 
-
 
 
-
 
 
2
 
Amortization of intangible assets
 
 
182
 
 
-
 
 
-
 
 
182
 
 
* iBio CMO commenced operations in December 2015