FibroBiologics, Inc. (FBLG) Q3 2025 10-Q reports severe financial stress, with management expressing substantial doubt about its ability to continue as a going concern. Cash reserves fell sharply to \(4.9M (from \)14.0M at year-end 2024), and the accumulated deficit widened to \(50.9M, with total stockholders' equity contracting to \)125k.
Financial performance deteriorated, with the nine-month net loss reaching \(15.4M, nearly double the prior year's \)8.1M loss, driven by aggressive R&D spending (\(6.6M YTD). Net cash used in operating activities was \)13.23M for the period.
The company actively m
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