News

(RTTNews) - FibroBiologics, Inc., (FBLG) marked a key step forward in its diabetic foot ulcer (DFU) program with the successful manufacturing of its first CYWC628 drug- product-batch-timed the same day the company priced a $3 million public offering to support ongoing operations and clinical development.

CYWC628 Manufacturing Completed Ahead of First-in-Human Trial

The company announced that it has completed production of the first cGMP batch of CYWC628, its fibroblast-based spheroid therapy being developed for DFU, a chronic wound condition affecting millions worldwide. The batch was manufactured under FDA-compliant Good Manufacturing Practices and will be released once it passes all required safety and quality testing.

CYWC628 represents the first large-scale cGMP manufacturing of a fibroblast-based spheroid therapeutic candidate. According to CEO Pete O'Heeron, this milestone enables FibroBiologics to move ahead with its planned Phase 1/2 clinical trial in DFU patients in the first half of 2026.

Company Prices $3 Million Public Offering

In a separate announcement, FibroBiologics priced a best-efforts public offering totaling approximately $3 million. The offering includes 2,272,728 shares of common stock and an equal number of warrants, all priced at $1.32 per share and accompanying warrant.

The warrants will carry an exercise price of $1.32 and become exercisable once stockholder approval is obtained. They will remain valid for five years from the approval date. The offering is expected to close on or about April 2, 2026, subject to customary closing conditions. H.C. Wainwright & Co. is acting as the exclusive placement agent.

If fully exercised, the warrants could provide an additional $3 million in gross proceeds. The company plans to use the net proceeds for working capital and general corporate purposes.

FBLG has traded between $1.26 and $30.60 over the past year. The stock closed yesterday's trading at $1.31, down 42.11%. In the pre-market the stock is at $1.06, down 19.70%.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.