iBio Inc. Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Segment Reporting

Segment Reporting

9 Months Ended

Mar. 31, 2018

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 CDMO. Management has determined that the activity of iBio CDMO should be segregated as a separate segment and that the activity of iBio Brazil is currently immaterial and is to be included in the activity of iBio, Inc. 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. Please note that certain totals may not sum due to rounding.

Three Months Ended March 31, 2018 (in thousands)	iBio, Inc.		iBio CDMO		Eliminations		Total

Revenues - external customers	$	78	$	-	$	-	$	78
Revenues – intersegment		323		16		(339)		-
Research and development		576		483		(93)		966
General and administrative		966		1,885		(246)		2,605
Operating loss		(1,141)		(2,352)		-		(3,493)
Interest expense		-		(478)		-		(478)
Interest and other income		7		1		-		8
Consolidated net loss		(1,134)		(2,829)		-		(3,963)
Total assets		21,920		21,763		(12,649)		31,034
Fixed assets, net		6		25,329		-		25,335
Intangible assets, net		1,687		-		-		1,687
Depreciation expense		1		340		-		341
Amortization of intangible assets		86		-		-		86

Three Months Ended March 31, 2017 (in thousands)	iBio, Inc.		iBio CDMO		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

Nine Months Ended March 31, 2018 (in thousands)	iBio, Inc.		iBio CDMO		Eliminations		Total

Revenues - external customers	$	316	$	37	$	-	$	353
Revenues – intersegment		954		322		(1,276)		-
Research and development		1,870		1,449		(375)		2,944
General and administrative		3,286		5,305		(901)		7,690
Operating loss		(3,886)		(6,395)		-		(10,281)
Interest expense		-		(1,437)		-		(1,437)
Interest and other income		23		5		-		28
Consolidated net loss		(3,863)		(7,827)		-		(11,690)
Total assets		21,920		21,763		(12,649)		31,034
Fixed assets, net		6		25,329		-		25,335
Intangible assets, net		1,687		-		-		1,687
Depreciation expense		2		1,018		-		1,020
Amortization of intangible assets		256		-		-		256

Nine Months Ended March 31, 2017 (in thousands)	iBio, Inc.		iBio CDMO		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