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iBio Regains Compliance with NYSE American Continued Listing Standards
NEW YORK, Oct. 05, 2020 (GLOBE NEWSWIRE) -- iBio, Inc. (NYSE AMERICAN:IBIO) (“iBio” or the “Company”), a biotech innovator and biologics contract
About this update from Ibio, Inc.
[{"type":"text","content":"NEW YORK, Oct. 05, 2020 (GLOBE NEWSWIRE) -- iBio, Inc. (NYSE AMERICAN:IBIO) (“iBio” or the “Company”), a biotech innovator and biologics contract manufacturing organization, announced today that on October 1, 2020, the Company received written notice from the NYSE American LLC (“NYSEA” or the “Exchange”) stating that the Company had regained compliance with all of the Exchange’s continued listing standards set forth in Part 10 of the NYSEA Company Guide (“Company Guide”).\n By meeting the requirements of the $50 million market capitalization exemption in Section 1003(a) of the Company Guide, iBio has resolved its continued listing deficiency with respect to NYSEA’s letters dated October 16, 2019 and December 9, 2019. Tom Isett, iBio’s Chairman and Chief Executive Officer, stated, “We are pleased with the progress we have made since December 2019 on the execution of our new strategic plan. Our emphasis on proprietary biopharmaceutical development activities has not only allowed us to regain compliance with the Exchange’s listing standards, but it has also delivered new value drivers and improved financial strength for iBio. We remain focused upon building a sustainable, growth-oriented, biotech and pharma services organization that makes meaningful contributions towards addressing some of the world’s most pressing unmet medical needs. Specifically, we plan to continue to leverage the advantages afforded by our FastPharming® System and our other proprietary technologies to develop biological medicines in the area of pulmonology, including respiratory diseases like COVID-19 and fibrotic diseases of the lung, amongst others.\" About iBio, Inc. iBio is a global leader in plant-based biologics manufacturing. Its FastPharming® System combines vertical farming, automated hydroponics, and glycan engineering technologies to rapidly deliver high-quality monoclonal antibodies, vaccines, bioinks and other proteins. The Company’s subsidiary, iBio CDMO LLC, provides FastPharming Contract Development and Manufacturing Services. iBio’s Glycaneering Development Service™ includes an array of new glycosylation technologies for engineering high-performance recombinant proteins. Additionally, iBio is developing proprietary products, which include IBIO-100 for the treatment of fibrotic diseases, and vaccines for COVID-19 disease. For more information,...