Home / Going-concern warnings / iBio, Inc.
Filed 2026-05-12 · Form 10-Q · Accession 0001104659-26-059416 micro
Price before filing: $1.66 (2026-05-11 close, split/dividend-adjusted)
Market cap at flag: $192.6M (2026-05-12) · Latest: $79.7M (2026-10-16)
| Window | IBIO | SPY | vs SPY | |
|---|---|---|---|---|
| 30 days | +0.6% | -0.2% | +0.8% | 2026-06-11 |
| 90 days | -15.7% | +4.8% | -20.5% | 2026-08-10 |
| 180 days | pending | pending | until 2026-11-08 |
Return from the last close before the filing date to the first close on/after the window end. Pending windows have not fully elapsed. Past performance says nothing certain about the future.
90 days before the flag: 3 insiders bought $98K (4 purchases)
30 days after: none reported.
| Date | Insider | Type | Shares | Price | Value | 10b5-1 plan | Source |
|---|---|---|---|---|---|---|---|
| 2026-03-19 | Brenner Martin See Remarks, Director | Purchase | 12,336 | $2.02 | $25K | no | Form 4 |
| 2026-03-19 | Duran Felipe Chief Financial Officer | Purchase | 24,835 | $2.02 | $50K | no | Form 4 |
| 2026-03-26 | Banjak Marc Chief Legal Officer | Purchase | 12,500 | $1.64 | $21K | no | Form 4 |
| 2026-03-26 | Banjak Marc Chief Legal Officer | Purchase | 1,434 | $1.76 | $3K | no | Form 4 |
| 2026-05-12: red flag filed | |||||||
Open-market purchases and sales (Form 4 codes P and S) by officers, directors and 10% owners, by transaction date, from 2026-02-11 to 2026-06-11. Excludes option exercises, grants, gifts and tax withholding. Amended filings replace the originals; joint filings count once. Foreign private issuers do not file Form 4. Many insider sales are pre-scheduled (10b5-1 plans) and are not by themselves a sign of wrongdoing.
"For the nine months ended March 31, 2026, the Company has an operating capital deficit of $ 17 million which compares to the $ 10.7 million operating capital deficit it maintained for the nine months ended March 31, 2025. ​ The history of significant losses, the negative cash flow from operations, and the dependence by the Company on its ability to obtain additional financing to fund its operations in the past..."
Quoted from the filing. Source
The filing states that substantial doubt exists about the company's ability to continue as a going concern: it may not have enough cash to last the next 12 months. Expect dilution, debt deals or worse. An auditor's going-concern paragraph is the strongest form of this warning.
Source: management disclosure in Form 10-Q (period 2026-03-31)
Why this score: quarterly (unaudited) disclosure
Read the original filing on SEC.gov →
Not investment advice. Automated summary; verify against the filing.
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