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Theres a provision contained such that the bank is unlikely to exercise the warrant until iBios stock reaches $2.83, because the amount of shares they are entitled to assumes $2.83 (iBio book value) as the minimum divisor for repaying (via equity) the differential between the value of the CDMO building post-close and the value of the outstanding loan principal

doi: 10.1093/jn/nxy324 57 ChenSLiSChenL

Their continued study and development promise to expand our therapeutic arsenal and improve patient outcomes across multiple medical fields

Both AOD 9604 and tirzepatide have been through human trials, but the depth and outcome of those trials could not be more different