FibroBiologics, a Phase 1 biotech developing fibroblast-based therapies for chronic diseases, is expected to begin trading on the Nasdaq on Wednesday, January 31, 2024.
The Registered Stockholders plan to sell up to 4.8 million shares. Between April and September 2023, FibroBiologics sold the equivalent of about 75 thousand shares at prices ranging from the equivalent of $18 to $20.
Spun out of former parent FibroGenesis in 2021, FibroBiologics is focused on developing fibroblast-based therapies for patients suffering from chronic diseases with significant unmet medical needs, including degenerative disc disease, multiple sclerosis (MS), wound healing, and certain cancers. Its most advanced product candidates are CybroCell, an allogeneic fibroblast cell-based therapy for degenerative disc disease, and CYMS101, an allogeneic fibroblast cell-based therapy for MS. FibroBiologics has received IND clearance from the FDA for a Phase 1/2 study of CybroCell in degenerative disc disease in the US, conditional upon approval of its master cell bank. The company completed a Phase 1 study of CYMS101 in MS in Mexico, and expects to file an IND application for a Phase 2 trial.
None of the company's shareholders will be subject to the standard 180-day lock-up agreement found in most IPOs.
The Houston, TX-based company traces its roots to 2006 and plans to list on the Nasdaq under the symbol FBLG. As a direct listing without a firm commitment offering, there are no underwriters on the deal; instead, Maxim Group LLC will serve as a financial advisor.
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.