Quarterly report pursuant to Section 13 or 15(d)

Segment Reporting

v3.7.0.1
Segment Reporting
 9 Months Ended
Mar. 31, 2017
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 nine months ended March 31, 2017 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 March 31, 2017 (in thousands)
 
iBio, Inc.
 
iBio CMO
 
Eliminations
 
Total
 
 
 
 
 
 
 
 
 
 
 
Revenues - external customers
 
$
-
 
$
37
 
$
-
 
$
37
 
Revenues – intersegment
 
 
283
 
 
361
 
 
(644)
 
 
-
 
Research and development
 
 
1,033
 
 
472
 
 
(369)
 
 
1,136
 
General and administrative
 
 
1,276
 
 
1,836
 
 
(275)
 
 
2,837
 
Operating loss
 
 
(2,026)
 
 
(1,910)
 
 
-
 
 
(3,936)
 
Interest expense
 
 
-
 
 
(481)
 
 
-
 
 
(481)
 
Interest and other income
 
 
8
 
 
4
 
 
-
 
 
12
 
Consolidated net loss
 
 
(2,018)
 
 
(2,387)
 
 
-
 
 
(4,405)
 
Total assets
 
 
20,573
 
 
32,680
 
 
(12,555)
 
 
40,698
 
Fixed assets, net
 
 
8
 
 
25,786
 
 
-
 
 
25,794
 
Intangible assets, net
 
 
1,895
 
 
-
 
 
-
 
 
1,895
 
Depreciation expense
 
 
1
 
 
336
 
 
-
 
 
337
 
Amortization of intangible assets
 
 
88
 
 
-
 
 
-
 
 
88
 
 
Three Months Ended March 31, 2016 (in thousands)
 
iBio, Inc.
 
iBio CMO *
 
Eliminations
 
Total
 
 
 
 
 
 
 
 
 
 
 
Revenues - external customers
 
$
371
 
$
8
 
$
-
 
$
379
 
Revenues – intersegment
 
 
-
 
 
129
 
 
(129)
 
 
-
 
Research and development
 
 
951
 
 
226
 
 
(129)
 
 
1,048
 
General and administrative
 
 
1,532
 
 
871
 
 
-
 
 
2,403
 
Operating loss
 
 
(2,112)
 
 
(960)
 
 
-
 
 
(3,072)
 
Interest expense
 
 
-
 
 
(323)
 
 
-
 
 
(323)
 
Interest and other income
 
 
8
 
 
2
 
 
-
 
 
10
 
Consolidated net loss
 
 
(2,104)
 
 
(1,281)
 
 
-
 
 
(3,385)
 
Total assets
 
 
11,015
 
 
39,690
 
 
(40)
 
 
50,665
 
Fixed assets, net
 
 
13
 
 
25,762
 
 
-
 
 
25,775
 
Intangible assets, net
 
 
2,139
 
 
-
 
 
-
 
 
2,139
 
Depreciation expense
 
 
2
 
 
259
 
 
-
 
 
261
 
Amortization of intangible assets
 
 
92
 
 
-
 
 
-
 
 
92
 
 
Nine Months Ended March 31, 2017 (in thousands)
 
iBio, Inc.
 
iBio CMO
 
Eliminations
 
Total
 
 
 
 
 
 
 
 
 
 
 
Revenues - external customers
 
$
161
 
$
86
 
$
-
 
$
247
 
Revenues – intersegment
 
 
695
 
 
950
 
 
(1,645)
 
 
-
 
Research and development
 
 
2,733
 
 
1,240
 
 
(968)
 
 
3,005
 
General and administrative
 
 
3,864
 
 
4,470
 
 
(677)
 
 
7,657
 
Operating loss
 
 
(5,741)
 
 
(4,674)
 
 
-
 
 
(10,415)
 
Interest expense
 
 
-
 
 
(1,447)
 
 
-
 
 
(1,447)
 
Interest and other income
 
 
35
 
 
18
 
 
-
 
 
53
 
Consolidated net loss
 
 
(5,706)
 
 
(6,103)
 
 
-
 
 
(11,809)
 
Total assets
 
 
20,573
 
 
32,680
 
 
(12,555)
 
 
40,698
 
Fixed assets, net
 
 
8
 
 
25,786
 
 
-
 
 
25,794
 
Intangible assets, net
 
 
1,895
 
 
-
 
 
-
 
 
1,895
 
Depreciation expense
 
 
3
 
 
984
 
 
-
 
 
987
 
Amortization of intangible assets
 
 
264
 
 
-
 
 
-
 
 
264
 
 
Nine Months Ended March 31, 2016 (in thousands)
 
iBio, Inc.
 
iBio CMO *
 
Eliminations
 
Total
 
 
 
 
 
 
 
 
 
 
 
Revenues - external customers
 
$
665
 
$
8
 
$
-
 
$
673
 
Revenues – intersegment
 
 
-
 
 
129
 
 
(129)
 
 
-
 
Research and development
 
 
2,192
 
 
240
 
 
(129)
 
 
2,303
 
General and administrative
 
 
4,550
 
 
959
 
 
-
 
 
5,509
 
Operating loss
 
 
(6,077)
 
 
(1,062)
 
 
-
 
 
(7,139)
 
Interest expense
 
 
-
 
 
(323)
 
 
-
 
 
(323)
 
Interest and other income
 
 
24
 
 
2
 
 
-
 
 
26
 
Consolidated net loss
 
 
(6,053)
 
 
(1,383)
 
 
-
 
 
(7,436)
 
Total assets
 
 
11,015
 
 
39,690
 
 
(40)
 
 
50,665
 
Fixed assets, net
 
 
13
 
 
25,762
 
 
-
 
 
25,775
 
Intangible assets, net
 
 
2,139
 
 
-
 
 
-
 
 
2,139
 
Depreciation expense
 
 
4
 
 
259
 
 
-
 
 
263
 
Amortization of intangible assets
 
 
274
 
 
-
 
 
-
 
 
274
 
 
*
iBio CMO commenced operations in December 2015