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small-cap

Steer Clear of This NYSE-Listed Biopharmaceutical Play – IBIO

Feb 11, 2022 | Team Kalkine
Steer Clear of This NYSE-Listed Biopharmaceutical Play – IBIO

iBio, Inc. 

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iBio, Inc. (NYSE: IBIO) is a biopharmaceutical developer and the inventor of the sustainable FastPharming Manufacturing System. Using licensed and owned technologies, the company develops novel treatments to prevent fibrotic disorders, malignancies, and infectious diseases. 

Key Highlights: 

  • The company reported a significant decline in revenues to USD 211 thousand in Q1FY22 (ended September 30, 2021) compared to USD 410 thousand in Q1FY21. 
  • IBIO generated 100%of its revenue from three clients in Q1FY22, with two customers accounting for 81%of revenue; losing any customer could negatively influence the company's topline in the future. 
  • IBIO reported an increase in net losses to USD 8.94 million in Q1FY22 from USD 7.53 million in Q1FY21. 
  • In Q1FY22, the company's average receivable days were 2,336 days, compared to the industry median of 60.5 days. 
  • The stock is now trading below its key short-term (50-day) and long-term (200-day) DMA support levels, with the RSI Index at 36.66, indicating a bearish trend. 
  • Stock is leaning towards the lower band of the 52-week range of USD 0.39 to USD 2.83. 
  • IBIO stock price has fallen 66.38and 72.24% inthe past six and nine months, respectively. 

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Three-Year Technical Price Chart (as of February 10, 2022; 12:33 PM ET). Analysis by Kalkine Group 

Conclusion: Considering the bottom-line stress, uncertain outlook, insignificant topline, reliance on specific customers, and other technical indicators, we recommend an "Avoid" rating on the stock at the current price of USD 0.4136, down 1.52% as of February 10, 2022, at 12:33 PM ET. 

*The reference data in this report has been partly sourced from REFINITIV.