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Subsequent Events | 9 Months Ended
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Mar. 31, 2026
Subsequent Events |
Subsequent Events | 21. Subsequent Events The Company has evaluated all events subsequent to the balance sheet date through May 12, 2026, the date that the financial statements were issued. During this period, there were no material subsequent events requiring disclosure except as discussed below. ​ Series G Warrants On April 8, 2026, the Company issued a press release announcing (the “Public Announcement”) that it received CTN acknowledgement from Australia’s Therapeutic Goods Administration (“TGA”) and ethics approval from a Human Research Ethics Committee (“HREC”), enabling the initiation of a first-in-human clinical trial of IBIO-600 in Australia. As a result of the Public Announcement, all outstanding Series G Warrants will expire at 5:00 p.m. (New York City time) on May 20, 2026. See Note 15 – Stockholders’ Equity for more information. ​ During the fourth quarter of fiscal year 2026, Series G Warrants to purchase 13,790,000 shares of Common Stock were exercised whereby the holders elected to receive pre-funded warrants to purchase up to 13,790,000 shares of Common Stock in lieu of shares of Common Stock, together with Series H Warrants to purchase up to 13,790,000 shares of Common Stock, for gross proceeds of approximately $9.6 million. The pre-funded warrants issued upon this election have an exercise price of $0.001 and are immediately exercisable. ​ During the fourth quarter of fiscal year 2026, Series G Warrants to purchase 10,585,000 shares of Common Stock were exercised whereby the holders elected to receive 10,585,000 shares of Common Stock, together with Series H Warrants to purchase up to 10,585,000 shares of Common Stock, for gross proceeds of approximately $7.4 million. ​ During the fourth quarter of fiscal year 2026, pre-funded warrants issued upon the exercise of Series G Warrants to purchase an aggregate of 1,700,000 shares of Common Stock, were exercised for proceeds of approximately $1,700. ​ In conjunction with 2025 Underwriting Agreement, the Company incurred fees upon the exercise of these Series G Warrants totaling approximately $1 million. ​ 2025 Pre-Funded Warrants ​ During the fourth quarter of fiscal year 2026, 2025 Pre-Funded Warrants to purchase an aggregate of 2,850,000 shares of Common Stock, were exercised for proceeds of approximately $2,850. ​ RubrYc Developmental Milestone ​ Under the Asset Purchase Agreement, the Company agreed to make potential additional payments of up to $5,000,000 upon the achievement of specified developmental milestones on or before the fifth anniversary of the closing date, payable in cash or shares of the Common Stock, at the Company’s option. At each reporting date, the Company re-evaluates the probability of achievement of each potential development milestone. The receipt of the CTN acknowledgement from Australia’s TGA and ethics approval from HREC on April 8, 2026, which enables the Company to initiate a first-in-human clinical trial of IBIO-600 in Australia, increases the likelihood of the Company achieving one of the specified developmental milestones. If achieved, the Company has the option to pay the potential additional development milestone payment in cash or in shares of the Company’s Common Stock. ​ Promissory Note Receivable ​ On May 7, 2026, the Company entered into a letter agreement with Safi, pursuant to which the Company and Safi agreed to a second extension of the maturity date of the Note, dated June 19, 2023, to June 19, 2027. Safi paid the Company approximately $75,000 for all accrued interest through the date of the second extension in accordance with the terms of the Note. ​ ​

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- Definition The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 855 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/855/tableOfContent Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 855 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147483399/855-10-50-2 + Details
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