aibioFibroBiologics gets Nasdaq delisting determination over $1.00 minimum bid price, plans appeal
Tickers FBLG
Nasdaq staff says the bid price closed below $1.00 for 30 consecutive business days and that FibroBiologics gets no 180-day compliance period after a reverse stock split. The company intends to request a hearing.
Key facts
- Company
- FibroBiologics, Inc. (NASDAQ: FBLG)
- News type
- Listings
- Primary source
- FibroBiologics, Inc. Form 8-K filed July 24, 2026 (SEC EDGAR)
FibroBiologics, Inc. (Nasdaq: FBLG) received a Nasdaq Staff Determination letter on July 22, 2026 saying Nasdaq staff had determined to delist its securities from The Nasdaq Capital Market. The company disclosed the notice in a Form 8-K filed July 24, 2026. It says it intends to timely request a hearing before a Nasdaq Hearings Panel to appeal.
What the filing says
The Staff Determination came from the Listing Qualifications Department of The Nasdaq Stock Market LLC. It stated that the bid price of the company's listed securities had closed at less than $1.00 per share over the previous 30 consecutive business days, from June 8, 2026 through July 21, 2026. As a result, Nasdaq said the company is not in compliance with Nasdaq Listing Rule 5550(a)(2), which requires listed securities to maintain a minimum bid price of $1.00 per share. The filing calls this the Bid Price Rule.
Companies are normally given a 180-calendar day period to demonstrate compliance with that rule. The Staff Determination said FibroBiologics is not eligible for any such period under Nasdaq Listing Rule 5810(c)(3)(A)(iv), because the company has effected a reverse stock split over the prior one-year period. A reverse stock split combines existing shares into a smaller number of shares.
Timeline and the appeal
Unless the company requests an appeal of the determination by July 29, 2026, Nasdaq staff has determined that the company's securities will be scheduled for delisting from The Nasdaq Capital Market. In that case the securities will be suspended at the opening of business on July 31, 2026.
FibroBiologics says it intends to timely request a hearing before a Nasdaq Hearings Panel. According to the filing, a timely hearing request will stay any further delisting actions through the hearing process. At the hearing, the company expects to present its plan to regain compliance with Nasdaq's continued listing requirements.
The company says it intends to monitor the closing bid price of its common stock and to evaluate all available options to regain compliance with the bid price rule. The 8-K does not describe what those options are.
Going concern language in the annual report
The company's most recent annual report, a Form 10-K filed February 24, 2026, carried a going concern paragraph in the report of its independent registered public accounting firm. The 10-K also says management concluded there is substantial doubt about whether the company can continue as a going concern for the twelve months following the issuance of that report, and that the doubt may adversely affect the price of its common stock. The report says the company has suffered recurring operating losses and negative cash flows from operating activities since inception and expects to continue incurring them. It says these matters raise substantial doubt about the company's ability to continue as a going concern. The report says the financial statements do not include any adjustments that might result from the outcome of this uncertainty.
The business and its finances
In the 10-K, FibroBiologics describes itself as a clinical-stage biotechnology company developing fibroblast-based therapies for chronic diseases, including wound healing, multiple sclerosis, degenerative disc disease, psoriasis and certain cancers. Its most advanced product candidates are CYWC628, CYPS317, CYMS101 and CybroCell. The company was formed in April 2021 as a Texas limited liability company and converted to a Delaware corporation in December 2021.
The 10-K reported a net loss of $18.6 million for 2025, against $11.2 million for 2024. Cash used in operations was $16.4 million in 2025, against $11.9 million in 2024, and research and development expense was $7.4 million, against $4.5 million. Cash and cash equivalents were $14.0 million at the end of 2024. The company carries going concern doubt, a bid price below $1.00 and no automatic grace period, so the hearing is the only route the 8-K describes for keeping the listing. Pete O'Heeron, Chief Executive Officer, signed the 8-K.