FibroBiologics reports increased research expenses, reduced net loss, and focus on clinical programs.

From GlobeNewswire: 2025-03-31 16:25:00

FibroBiologics completes master cell bank for CYWC628 product candidate after safety testing. Phase 1/2 trial for diabetic foot ulcers in Australia set for Q2 2025. $14.0 million in cash and equivalents as of December 31, 2024. Financial results and corporate update announced for full year 2024, including increased research and development expenses and reduced net loss. FibroBiologics focuses on tackling diseases at their root causes.

Key milestones ahead include initiating Phase 1/2 trial for CYWC628 in Australia, completing trial by end of 2025, determining timeline for Phase 1 trial for CybroCell™, and finishing pre-clinical studies for psoriasis treatment with CYPS317 by end of 2025. CEO Pete O’Heeron emphasizes focus on clinical programs and creating value for patients and shareholders. FibroBiologics’ financial highlights for 2024 show increased research and development expenses, general and administrative expenses, and reduced net loss compared to 2023. $14.0 million in cash and equivalents as of December 31, 2024.



Read more at GlobeNewswire:: FibroBiologics Reports Full Year 2024 Financial Results and