Segment Reporting

12 Months Ended

Jun. 30, 2017

Segment Reporting [Abstract]

Segment Reporting Disclosure [Text Block]

17. Segment Reporting

 

In accordance with FASB ASC 280, “Segment Reporting,” the Company discloses financial and descriptive information about its reportable segments. The Company operates in two segments, iBio, Inc. and iBio CDMO. Commencing July 1, 2016, management determined that the activity of iBio CDMO should be segregated as a separate segment. In addition, management determined that the activity of iBio Brazil was no longer material and will be included in the activity of iBio, Inc. As such, the segment information for the year ended June 30, 2016 was conformed to the current presentation. These segments are components of the Company about which separate financial information is available and regularly evaluated by the chief operating decision maker in deciding how to allocate resources and in assessing performance. The accounting policies of the segments are the same as those described in the Summary of Significant Accounting Policies.

Year Ended June 30, 2017 (in thousands)	iBio, Inc.		iBio CDMO		Eliminations		Total
Revenues - external customers	$	271	$	123	$	-	$	394
Revenues - intersegment		972		1,280		(2,252)		-
Research and development		3,657		1,763		(1,303)		4,117
General and administrative		5,245		6,255		(949)		10,551
Operating loss		(7,659)		(6,615)		-		(14,274)
Interest expense		(1)		(1,928)		-		(1,929)
Interest and other income		43		21		-		64
Consolidated net loss		(7,617)		(8,522)		-		(16,139)
Total assets		19,049		29,738		(12,777)		36,010
Fixed assets, net		8		25,581		-		25,589
Intangible assets, net		1,823		-		-		1,823
Depreciation expense		3		1,323		-		1,326
Amortization of intangible assets		350		-		-		350

Year Ended June 30, 2016 (in thousands)	iBio, Inc.		iBio CDMO *		Eliminations		Total
Revenues - external customers	$	893	$	55	$	-	$	948
Revenues - intersegment		158		324		(482)		-
Research and development		2,984		501		(329)		3,156
General and administrative		5,560		2,278		(153)		7,685
Operating loss		(7,493)		(2,400)		-		(9,893)
Interest expense		-		(807)		-		(807)
Interest and other income		33		10		-		43
Consolidated net loss		(7,460)		(3,197)		-		(10,657)
Total assets		13,393		38,282		(75)		51,600
Fixed assets, net		8		25,566		-		25,574
Intangible assets, net		2,092		-		-		2,092
Depreciation expense		4		573		-		577
Amortization of intangible assets		363		-		-		363

* iBio CDMO commenced operations in December 2015.