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Investing.com - H.C. Wainwright reiterated its Buy rating and $10.00 price target on FibroBiologics (NASDAQ:FBLG), a $23.7 million market cap biotechnology company, following recent developments in the company’s research pipeline. The stock currently trades at $0.56, significantly below its 52-week high of $4.14.
The research firm highlighted positive IND-enabling updates for FibroBiologics’ fibroblast spheroid technology in chronic-relapse psoriasis treatment, where the company is conducting pilot studies to advance preclinical development.
H.C. Wainwright noted that FibroBiologics is demonstrating the potential for human dermal fibroblast spheroids as a novel approach for long-term protection against psoriasis relapse.
The firm also pointed to advancements in the company’s bone marrow organoid platform, where pilot study work has supported pre-IND development for hematopoietic cancers and age-related immune decline.
H.C. Wainwright maintained its focus on FibroBiologics’ near-term Phase 1/2 trial initiation for the treatment of diabetic foot ulcers as a key driver behind its current rating and price target.
In other recent news, FibroBiologics, Inc. has made significant advancements in its Bone Marrow Organoid platform, which may offer new treatment options for hematopoietic cancers and age-related immune decline. The company’s pre-IND animal trials demonstrated that their proprietary Bone Marrow Organoids significantly reduced tumor size in a xenografted melanoma mouse model. This technology also facilitates efficient ex vivo gene editing for targeted therapeutic interventions. Additionally, FibroBiologics has filed a patent application with the United States Patent and Trademark Office for methods of generating multipotent cells from fibroblasts found in donor tissue. The patent covers techniques for producing larger quantities of stable and scalable multipotent cells directly from donor-derived fibroblasts. These multipotent fibroblasts have shown an enhanced ability to form 3D spheroid structures, potentially broadening their application in therapeutic and drug development areas. These developments highlight FibroBiologics’ ongoing efforts in advancing their research and expanding their technological capabilities.
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