FibroBiologics Reports Q1 2025 Financial Results with $4.97 Million Net Loss

FibroBiologics Inc. reported its financial results for the first quarter of 2025, revealing a net loss of $4.97 million, a decrease from the $8.46 million loss recorded in the same period last year. The company’s total operating expenses increased to $4.53 million, up from $3.45 million in the prior year, primarily driven by higher research and development costs, which rose to $1.78 million from $0.96 million. General and administrative expenses also saw an increase, totaling $2.75 million compared to $2.49 million in the previous year.

The company’s cash and cash equivalents decreased to $8.67 million as of March 31, 2025, down from $13.99 million at the end of 2024. This decline is attributed to ongoing operational expenses and the need for continued investment in research and development activities. FibroBiologics has reported an accumulated deficit of approximately $40.48 million, reflecting its ongoing financial challenges as it seeks to advance its product candidates through clinical trials.

In terms of strategic developments, FibroBiologics is focused on advancing its fibroblast-based therapies, including CYWC628 for wound healing and CYMS101 for multiple sclerosis. The company is preparing to initiate a twelve-week Phase 1/2 clinical trial for CYWC628 in Australia in the second half of 2025. Additionally, FibroBiologics has completed the manufacturing of its master cell bank for CYWC628, which is a significant step toward clinical testing.

Operationally, the company has made progress in its research initiatives, with plans to file an Investigational New Drug (IND) application for CYMS101 in the U.S. as funding allows. The company has also entered into a Standby Equity Purchase Agreement (SEPA) to secure additional funding, which may provide up to $15 million in capital through short-term convertible notes. As of March 31, 2025, the company had a total of 37.74 million shares of common stock outstanding, reflecting its efforts to raise capital through equity financing.

Looking ahead, FibroBiologics anticipates continued losses as it invests in the development of its product candidates and expands its operational capabilities. The company acknowledges the need for substantial additional funding to support its long-term operations and growth strategy, emphasizing that its ability to continue as a going concern is contingent upon successfully raising capital in the future.