Commitments and Contingencies
|6 Months Ended
Dec. 31, 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 $0 and $0.2 million for the three and six months ended December 31, 2023, respectively, 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. The Company is actively monitoring the effects these disruptions and increasing inflation could have on its operations.
The entire disclosure for commitments and contingencies.
Reference 1: http://www.xbrl.org/2003/role/disclosureRef