Dilution profile // every instrument, one screen, from SEC filings

iBio, Inc. (IBIO)

CIK 1420720 · all EDGAR filings →

Overall dilution risk
HIGHworst of 4 computed signals (offering ability)
= the worst band among the computed sub-ratings, no hidden weighting
Offering ability
HIGH$226M registered
= total registered offering amount from the fee exhibits of live registrations (bands: $1M / $20M)
one or more live registrations had no structured fee data, so the true total is AT LEAST this
Overhead supply
LOWwarrants = 0% of O/S
= warrant shares outstanding divided by current shares outstanding (bands: 20% / 50%)
warrants only; converts, ATMs and equity lines are not in free structured data, so the true overhead is AT LEAST this
Historical dilution
MEDIUM+80% O/S in 3y
= share count now vs 3 years ago (bands: 30% / 100%); a reverse split pushes this negative
a reverse-split-sized cliff is in this window; read the chart
Cash need
LOW~37.3 months of runway
= cash vs trailing operating burn (bands: 6mo / 24mo; positive operating CF = low)
the company itself flagged going-concern doubt

Same rating bands the category standard uses, but free, with the formula on the chip and the gaps in the data said out loud.

Shares outstanding over time

2020-11-162026-05-12

Latest: 49.7M shares as of May 12, 2026 (10-Q). Share count fell from 218.2M to 9.0M between May 9, 2022 and Oct 10, 2022, a pattern consistent with a reverse split (roughly 1-for-24); simultaneous issuance can skew the raw ratio, so confirm in the filings. The red bar marks the cliff.

Cash runway

Going-concern warning

auditor flagged substantial doubt

The company itself flagged going-concern doubt in a filing.

Full breakdown: cash runway tool · source filing →

Warrants

TrancheWarrantsExercise priceTermNotes
Pre Funded Warrants89.0M$0.001
Series H Warrants35.8Mnot tagged4y
Series G Warrants35.8Mnot tagged5y
Pre Funded Series G Warrants35.8Mnot tagged
Pre Funded Series H Warrants35.8Mnot tagged
Pre Funded Warrants20269.7M$0.001
Existing Warrants5.6M$0.86
Series E Warrants3.5M$0.865y
Pre Funded Warrants20242.6M$0.0001
Series C Warrants2.3M$22y
Series D Warrants2.3M$25y
Series C and D Warrants2.0M$0.86

Tranches exactly as the company dimensioned them in its 10-Q filed May 12, 2026. Groupings can overlap (a “Series E and F” row is not additive with a “Series E” row), so do not sum this column. A tranche the filer did not tag is absent here, not absent from the cap table. DOWN-ROUND = the filer tagged price-protection accounting scoped to that tranche.

Warrants outstanding: 0 underlying shares, as reported Jun 30, 2021 (10-K).

Reported exercise price: $0.0001 (aggregate figure as tagged; individual tranches vary).

Rough fully diluted estimate: 49.7M = 49.7M O/S + 0 warrant shares. An estimate, not a filing figure: it ignores converts, options and RSUs, and the two inputs carry different as-of dates.

Convertible notes

No convertible-note facts tagged in the 10-Q filed May 12, 2026. If convertible notes exist, their terms live in exhibit prose for this filer and are not parsed; absence of a tag is not proof of absence. The exhibits are the ground truth.

Fully diluted build-up

Shares outstanding plus every potential-share instrument the filer tagged in XBRL, each at its own as-of date. An estimate assembled from filed figures, not a filing figure itself.

Shares outstanding49.7MMay 12, 2026
+ Pre Funded Warrants (if exercised)89.0MMar 31, 2026
+ Series H Warrants (if exercised)35.8MAug 19, 2025
+ Series G Warrants (if exercised)35.8MAug 19, 2025
+ Pre Funded Series G Warrants (if exercised)35.8MAug 19, 2025
+ Pre Funded Series H Warrants (if exercised)35.8MAug 19, 2025
+ Pre Funded Warrants2026 (if exercised)9.7MJan 8, 2026
+ Existing Warrants (if exercised)5.6MApr 29, 2025
+ Series E Warrants (if exercised)3.5MApr 29, 2025
+ Pre Funded Warrants2024 (if exercised)2.6MMar 26, 2024
+ Series C Warrants (if exercised)2.3MDec 7, 2023
+ Series D Warrants (if exercised)2.3MDec 7, 2023
+ Series C and D Warrants (if exercised)2.0MApr 29, 2025
Fully diluted estimate309.6M+523.3% vs O/S

Still excluded, because the filer does not tag them in countable form: employee options and RSUs, any instrument living only in exhibit prose, and instruments above missing a share count. Inputs carry different as-of dates, shown per row. Each figure traces to the tranche and note tables above and their cited filings.

Registrations and offerings

Registered offering capacity on live registrations: $226.1Mfrom the structured fee exhibits; registered is not remaining, takedowns are not subtracted

S-3Feb 27, 2026$200.0M registeredfiling →
S-3Jan 30, 2026$26.1M registeredfiling →
S-3Jun 13, 2025no structured fee exhibit in this filing (predates fee-data XBRL or fee deferred)filing →

Last 12 months: 4 executed · 2 registered.

UPDATEApr 29, 2026Prospectus update — often a resale registration, not necessarily new capital424B3
EXECUTEDMar 6, 2026Shelf takedown priced — shares or notes (small-caps: usually shares; open the filing to confirm)424B5
EFFECTIVEMar 6, 2026SEC declared a registration effective — selling can beginEFFECT
REGISTEREDFeb 27, 2026S-3 registration — capacity to sell shares, not a sale yetS-3
UPDATEFeb 9, 2026Prospectus update — often a resale registration, not necessarily new capital424B3
EFFECTIVEFeb 9, 2026SEC declared a registration effective — selling can beginEFFECT
REGISTEREDJan 30, 2026S-3 registration — capacity to sell shares, not a sale yetS-3
EXECUTEDJan 12, 2026Unregistered share sale disclosed (8-K item 3.02)8-K
EXECUTEDAug 21, 2025Shelf takedown priced — shares or notes (small-caps: usually shares; open the filing to confirm)424B5
EXECUTEDAug 18, 2025Shelf takedown priced — shares or notes (small-caps: usually shares; open the filing to confirm)424B5
UPDATEJun 24, 2025Prospectus update — often a resale registration, not necessarily new capital424B3
EFFECTIVEJun 23, 2025SEC declared a registration effective — selling can beginEFFECT

Full history and shelf status: offering checker · S-3 shelf checker

Source: SEC EDGAR XBRL company facts and filing metadata, fetched live and cached briefly. Share counts are cover-page figures with their form named. Warrant tranches and convertible notes come from the dimensioned facts in the latest 10-Q/10-K instance document, exactly as the company tagged them; untagged tranches and notes are absent, not disproven. Nothing on this page is manually verified and nothing is behind a login: what free data supports is shown, what it cannot support is stated. Not investment advice.

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