FibroBiologics (NASDAQ: FBLG) shares caught a notable bid during trading on Tuesday, February 13, 2024. The clinical-stage biotech company saw its stock jump 88.34% during the day’s trading, after announcing preclinical data that demonstrated the use of human dermal fibroblast (HDF) spheroids to treat induced mouse model of psoriasis. The results were presented during the 2024 Keystone Symposia for Systemic Autoimmune and Autoinflammatory Diseases.
FibroBiologics saw meaningful share volume exchange hands, representing over ten-time the stock’s average volume. Over the past three months, Fibrobiologics has seen average daily volume of around 100,100 shares. However, volume of 1.09 million shares or dollar volume of around $15.19 million, exchanged hands during Tuesday’s trading.
What Does FibroBiologics Do and Why Were Shares Higher?
FibroBiologics is focused on pioneering the use of fibroblasts and fibroblast-derived materials for treating chronic diseases, boasting over 150 patents issued and pending. At the 2024 Keystone Symposia for Systemic Autoimmune and Autoinflammatory Diseases, the company presented groundbreaking preclinical data on the use of human dermal fibroblast (HDF) spheroids for treating psoriasis in a mouse model, as detailed in their poster titled “Exploring a Novel Cell-based Therapy Using Human Dermal Fibroblasts in a Mouse Model of Psoriasis.”
Dr. Hamid Khoja, the Chief Scientific Officer at FibroBiologics, highlighted the dual beneficial effects of HDF spheroids observed in their research. These spheroids not only alleviated the external symptoms of psoriasis severity but also significantly reduced autoimmune inflammation. This advancement is especially crucial considering the substantial psychological and physiological burdens psoriasis inflicts on patients. FibroBiologics’ work represents a promising new direction for cell therapy-based psoriasis treatments, leveraging the therapeutic potential of fibroblast spheroids.
Psoriasis, an autoimmune inflammatory disorder, affects over eight million adults in the U.S. alone and can lead to psoriatic arthritis due to its characteristic plaques and scales on the skin. FibroBiologics’ research utilized an imiquimod (IMQ)-induced psoriasis model in C57BL/6J mice to study the effects of HDF spheroids. The findings were compelling: a single intravenous dose of HDF spheroids led to a significant 35% reduction in the Psoriasis Area and Severity Index (PASI) score and ameliorated IMQ-induced changes in spleen size and lymphocyte and monocyte counts, indicating both local and systemic therapeutic effects.
Moreover, the study delved into the mechanism of action of HDF spheroids by co-culturing them with human blood-derived monocytes. Results showed an inhibition of key inflammatory markers such as tumor necrosis factor (TNF)-α and interleukin (IL)-17, suppression of cytokine-induced dendritic cell maturation, and a regulatory effect on various immunomodulatory molecules, suggesting a multifaceted approach to reducing psoriatic inflammation. FibroBiologics’ innovative research provides a solid foundation for further exploration of fibroblast-based therapies for psoriasis and potentially other chronic diseases. For more information on the company’s preclinical data, please click here.
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