FibroBiologics, Inc. (FBLG) AI Stock Analysis

• Market Cap: $24.62M
• Dividend Yield: N/A
• Average Volume (3M): 978.93K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.48
• Revenue Growth: N/A
• EPS Growth: 18.47%
• Country: US
• Employees: 13
• Sector: Healthcare
• Sector Strength: 45
• Industry: Biotechnology
• EPS (TTM): -0.13
• Shares Outstanding: 66,519,720
• 10 Day Avg. Volume: 1,423,641
• 30 Day Avg. Volume: 978,931
• PEG Ratio: 0.14
• Price to Book (P/B): 24.04
• Price to Sales (P/S): 0.00
• P/FCF Ratio: -5.44
• Enterprise Value/Market Cap: 0.70
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: -74.69
• Enterprise Value/Ebitda: -0.97
• 1Y Price Target: $3.25
• Price Target Upside: 802.78% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 2
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 44 Neutral
• Price Target: $0.37 ▲(1.39% Upside)

The score is primarily constrained by weak financial fundamentals (no revenue, widening losses, higher cash burn) and an increasingly risky capital structure. Technicals are mixed with only modest near-term momentum and a weaker longer-term trend, while valuation provides little support due to negative earnings. Added downside risk comes from the Nasdaq delisting/reverse-split situation.

Positive Factors

Focused therapeutic platform

A specialized fibroblast-based platform creates a durable scientific moat: platform science can be applied across multiple regenerative indications, concentrating R&D expertise and assets. Over months this supports efficient pipeline extension and clearer go/no-go decisions versus one-off programs.

Cash losses reflect actual cash burn

Losses being cash-based (free cash flow tracks net income) improves predictability of financing needs and runway modeling. For a pre-revenue biotech, transparent cash burn reduces risk of unexpected non-cash write-offs and helps management plan durable funding rounds or partnerships.

Prior equity recovery

The company has demonstrable ability to recapitalize, having returned equity to positive territory. This track record indicates some investor or financing support exists, which over a multi-month horizon can be a structural buffer versus firms that remain insolvent or cannot attract backstop capital.

Negative Factors

Pre-revenue with widening losses

Being pre-revenue with an expanding TTM loss materially increases financing dependency and dilution risk. Without product revenues, ongoing R&D and trials will require repeated capital infusions, limiting self-sustainability and creating structural pressure on strategic options and partner negotiations.

Elevated leverage and thin equity

Very high leverage on a tiny equity base constrains financial flexibility and increases default or covenant risk. Over months this raises the probability of costly refinancing, asset sales, or hostile restructuring, and limits ability to fund R&D without onerous terms or further dilution.

Frequent, dilutive and atypical financings

Repeated small registered direct offerings, concurrent warrants and unconventional payment (gold coins) signal persistent reliance on dilutive financing and operational complexity. Structurally this erodes shareholder value and increases execution risk for long-term clinical development and commercialization plans.

FibroBiologics, Inc. Business Overview & Revenue Model

Company Description

FibroBiologics, Inc., a clinical-stage cell therapy company, develops and commercializes fibroblast-based therapies in the United States. It is developing CybroCell, for the treatment of degenerative disc disease; CYMS101 to treat multiple sclerosis; and CYWC628 for wound healing. The company is also on the early-stage research of CYTER915, which is designed to regenerate or reinvigorate production of the thymus and/or spleen; CYPS317, for the treatment of psoriasis; and TCB190 to treat certain cancers. FibroBiologics, Inc. was incorporated in 2021 and is headquartered in Houston, Texas.

How the Company Makes Money

FibroBiologics, Inc. generates revenue primarily through the development and commercialization of its fibroblast-based therapies. The company may earn income through licensing agreements, partnerships with pharmaceutical companies, and the sale of its therapeutic products once they receive regulatory approval. Additionally, FibroBiologics might secure funding through research grants, equity investments, and collaborations with academic institutions or healthcare organizations. These partnerships and investments support the company's research and development efforts, facilitating the advancement of its innovative therapies to the market.

FibroBiologics, Inc. Financial Statement Overview

Summary

Pre-revenue with widening losses and accelerating cash burn (TTM net loss ~$18.5M; operating cash flow ~-$16.3M). Balance sheet risk is elevated as debt-to-equity has risen sharply (~12.53x TTM) on a very thin equity base, increasing funding/dilution risk.

Income Statement

FBLG is still pre-revenue (revenue is $0 across annual periods and TTM (Trailing-Twelve-Months)), with persistent and widening losses. Net loss increased to about $18.5M in TTM (Trailing-Twelve-Months) from ~$11.2M in 2024, and operating losses also expanded, indicating a higher burn rate. While this is not unusual for early-stage biotech, the lack of revenue and accelerating losses weigh heavily on the income statement quality.

Balance Sheet

Leverage has increased materially as equity has shrunk: debt-to-equity rose from ~1.39x (2023) to ~3.86x (2024) and ~12.53x in TTM (Trailing-Twelve-Months), reflecting a very thin equity base ($0.125M). Total debt is ~$7.1M in TTM (Trailing-Twelve-Months) and assets are ~$8.7M, suggesting limited balance sheet cushion. A positive is that equity recovered from negative levels in 2021–2022 to positive in 2023–TTM, but the current capital structure remains high-risk given the ongoing losses.

Cash Flow

Cash generation remains deeply negative, with operating cash flow around -$16.3M and free cash flow around -$16.7M in TTM (Trailing-Twelve-Months), worse than 2024 (roughly -$11.9M operating and -$12.1M free cash flow). Free cash flow has consistently been negative, implying continued reliance on external funding. A modest positive is that free cash flow roughly tracks net income (free cash flow to net income ~1.0), suggesting losses are largely reflected in cash usage rather than being driven by large non-cash adjustments.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	0.00	0.00	0.00	0.00	0.00	0.00
Gross Profit	-231.00K	0.00	0.00	0.00	0.00	0.00
EBITDA	-17.74M	-10.57M	-15.90M	-4.37M	-1.58M	0.00
Net Income	-18.50M	-11.16M	-16.48M	-5.12M	-1.58M	-1.17M
Balance Sheet
Total Assets	8.74M	16.45M	11.82M	4.82M	468.00K	0.00
Cash, Cash Equivalents and Short-Term Investments	4.87M	13.98M	9.16M	2.27M	407.00K	0.00
Total Debt	7.11M	10.55M	1.75M	7.52M	1.30M	0.00
Total Liabilities	8.62M	13.71M	10.57M	8.82M	1.76M	0.00
Stockholders Equity	125.00K	2.73M	1.25M	-4.00M	-1.29M	0.00
Cash Flow
Free Cash Flow	-16.66M	-12.09M	-6.90M	-4.07M	-1.41M	-1.17M
Operating Cash Flow	-16.30M	-11.90M	-6.40M	-4.07M	-1.41M	-1.17M
Investing Cash Flow	-361.00K	-184.00K	-495.00K	0.00	0.00	0.00
Financing Cash Flow	13.71M	16.91M	13.79M	5.92M	1.82M	1.17M

FibroBiologics, Inc. Technical Analysis

• Technical Analysis Sentiment: Neutral
• Last Price: 0.36
• 50DMA: Positive
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For FBLG, the sentiment is Neutral. The current price of 0.36 is above the 20-day moving average (MA) of 0.32, above the 50-day MA of 0.30, and below the 200-day MA of 0.58, indicating a neutral trend. The MACD of 0.02 indicates Negative momentum. The RSI at 56.83 is Neutral, neither overbought nor oversold. The STOCH value of 57.80 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for FBLG.

FibroBiologics, Inc. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%
BLRX	48 Neutral	$13.48M	-2.20	-22.03%	―	-41.76%	87.36%
CRIS	45 Neutral	$12.28M	-0.25	―	―	13.56%	52.92%
FBLG	44 Neutral	$24.62M	-0.74	-1292.87%	―	―	18.47%
PCSA	41 Neutral	$7.23M	-0.09	-270.74%	―	―	72.88%
SYBX	40 Underperform	$7.02M	-2.33	-27.54%	―	-100.00%	93.62%

FibroBiologics, Inc. Corporate Events

FibroBiologics Faces Nasdaq Delisting, Plans Reverse Split

On July 1, 2025, FibroBiologics, Inc. was notified by Nasdaq that its common stock had traded below the $1.00 minimum bid price for 30 consecutive trading days, triggering a 180-day grace period, through December 29, 2025, to regain compliance. After the company failed to meet the requirement by that deadline, Nasdaq staff notified FibroBiologics on December 30, 2025, of its intention to delist the stock unless the company requested a hearing, which FibroBiologics plans to do, temporarily staying any suspension or delisting. The company is monitoring its share price and, as part of its efforts to regain compliance, filed definitive proxy materials on December 29, 2025 seeking shareholder approval for a reverse stock split at a ratio between 1-for-5 and 1-for-30, though there is no assurance it will secure an extension or that these measures will succeed, leaving its Nasdaq listing status uncertain for investors.

The most recent analyst rating on (FBLG) stock is a Buy with a $5.00 price target. To see the full list of analyst forecasts on FibroBiologics, Inc. stock, see the FBLG Stock Forecast page.

FibroBiologics Enters Securities Purchase Agreement

On December 14, 2025, FibroBiologics, Inc. entered into a securities purchase agreement with institutional investors to issue and sell 5,227,275 shares of common stock at $0.33 per share in a registered direct offering, alongside issuing warrants for the same number of shares in a concurrent private placement. The gross proceeds from these offerings are expected to be approximately $1.7 million, with potential additional proceeds if warrants are exercised. The company plans to use the net proceeds for working capital and general corporate purposes, and the offerings are expected to close around December 16, 2025, subject to customary conditions.

The most recent analyst rating on (FBLG) stock is a Buy with a $5.00 price target. To see the full list of analyst forecasts on FibroBiologics, Inc. stock, see the FBLG Stock Forecast page.

FibroBiologics Announces Securities Purchase Agreement

On November 24, 2025, FibroBiologics, Inc. announced it entered into a securities purchase agreement with institutional investors for a registered direct offering of 4,477,614 shares of common stock at $0.335 per share, expected to raise approximately $1.5 million. Additionally, in a concurrent private placement, the company will issue warrants for the same number of shares, subject to stockholder approval. The proceeds will be used for working capital and general corporate purposes, with H.C. Wainwright & Co. acting as the exclusive placement agent. The offering is expected to close on or about November 25, 2025, pending customary closing conditions.

The most recent analyst rating on (FBLG) stock is a Buy with a $5.00 price target. To see the full list of analyst forecasts on FibroBiologics, Inc. stock, see the FBLG Stock Forecast page.

FibroBiologics Enters Securities Purchase Agreement with Investor

On November 18, 2025, FibroBiologics, Inc. entered into a securities purchase agreement with an investor to issue and sell 3,540,000 shares of common stock and pre-funded warrants for 8,570,203 shares in a registered direct offering. The purchase price is paid in sovereign-issued gold coins, which the company plans to convert into U.S. dollars. The gross proceeds are expected to be approximately $4 million, with additional potential proceeds from unregistered warrants contingent on stockholder approval. The offering aims to strengthen FibroBiologics’ capital structure and support general corporate purposes, including debt satisfaction. However, the use of gold coins introduces valuation and operational risks due to market volatility and logistical challenges, which could impact the company’s financial performance.

The most recent analyst rating on (FBLG) stock is a Buy with a $5.00 price target. To see the full list of analyst forecasts on FibroBiologics, Inc. stock, see the FBLG Stock Forecast page.