Commitments and Contingencies
|3 Months Ended|
Sep. 30, 2023
|Commitments and Contingencies [Abstract]|
|Commitments and Contingencies||
21. Commitments and Contingencies
On October 10, 2022, the Company entered into an agreement with a CRO for cell line development and master cell banking to produce iBio-101 in addition to process development and GMP manufacturing of iBio-101 drug substance and drug product to support GLP toxicology and Phase 1 clinical studies. The Company incurred costs of approximately $0.2 million for the three months ended September 30, 2023 and has incurred total costs of approximately $1.4 million since the project's inception. The Company has no further commitment for additional costs.
Although the Company has not experienced any material adverse effects on its business due to increasing inflation, it has raised operating costs for many businesses and, in the future, could impact demand or pricing of manufacturing services, foreign exchange rates or employee wages. We are actively monitoring the effects these disruptions and increasing inflation could have on the Company’s operations.
The entire disclosure for commitments and contingencies.
Reference 1: http://www.xbrl.org/2003/role/disclosureRef