Sirenia Capital Management LP Reports New 9.9% Stake in iBio, Inc.

Sirenia Capital Management LP, along with Alex Silverstein, has filed a Schedule 13G indicating a significant new ownership stake in iBio, Inc. (IBIO). As of the event date on March 31, 2026, the reporting persons beneficially own 11,586,340 shares, representing 9.9% of the company's common stock. This position includes 10,710,000 shares issuable upon the exercise of warrants held by a managed account (the Sirenia Account), which is an account of Point72 Associates II, LLC. The filing notes that the warrants are subject to a 9.99% blocker, preventing the reporting persons from exercising the warrants if it would result in beneficial ownership exceeding 9.99% of the outstanding shares. Consequently, the reported 9.9% ownership reflects this limitation. The shares are held for investment purposes in the ordinary course of business, with Sirenia Capital Management LP acting as the investment manager for the Sirenia Fund and the Sirenia Account. The filing was triggered by the acquisition of these positions, marking a transition from zero reported holdings previously.