FibroBiologics (FBLG) Q2 2026 earnings summary

Executive summary

• Focused on developing fibroblast-based therapies for chronic diseases, with lead candidates in wound healing, psoriasis, multiple sclerosis, and degenerative disc disease; clinical trials underway, including a Phase 1/2 trial in Australia for diabetic foot ulcers, with first patients dosed and interim results expected in 2H 2026.

• Advanced manufacturing of CYWC628, releasing two of three cGMP batches, and presented new data and technology at major scientific conferences.

• Net losses continue as R&D and operational investments increase; no product revenue generated to date.

• Strengthened financial position via $9M private placement and $3M public offering.

• Recent developments include manufacturing milestones, clinical trial progress, and ongoing efforts to address patient recruitment challenges.

Financial highlights

• Net loss for the three months ended June 30, 2026 was $4.1 million, compared to $4.7 million for the same period in 2025.

• Net loss for the six months ended June 30, 2026 was $9.1 million, compared to $9.6 million for the same period in 2025.

• Cash and cash equivalents were $3.5 million as of June 30, 2026, down from $4.9 million at December 31, 2025.

• Operating expenses for the six months ended June 30, 2026 were $9.1 million, up slightly from $9.0 million in the prior year period.

• Research and development expenses for the six months ended June 30, 2026 were $4.6 million, up from $3.8 million in 2025; for the quarter, R&D expenses were $1.7 million, down from $2.0 million year-over-year.

Outlook and guidance

• Management expects continued operating losses and negative cash flows as R&D and clinical activities expand.

• Additional capital will be required to fund ongoing operations and clinical development; substantial doubt exists about the ability to continue as a going concern without new funding.

• Interim and final data from the ongoing Phase 1/2 trial in Australia are expected in the second half and fourth quarter of 2026, with full results in 2027.

• IND clearance for psoriasis candidate CYPS317 and IND submission for multiple sclerosis candidate CYMS101 are anticipated in Q4 2026.

• Plans to amend IND for degenerative disc disease to use chondrocyte spheroids.