Why did FibroBiologics' operating expenses surge in Q4 2024?

FibroBiologics' operating expenses increased significantly in Q4 2024 primarily due to the following reasons:

1. Preparation for Clinical Trials: The company's operating expenses were higher due to increased drug product expenses and other expenses related to preparing for the Phase 1/2 clinical trial in DFU patients. This includes the completion of the proprietary master cell bank for their product candidate CYWC628, which is necessary for clinical trials and was completed in accordance with Good Manufacturing Practices.
2. Scaling Up Operations: As a clinical-stage biotechnology company, FibroBiologics is expanding its operations and preparing for potential scaling up. This involves significant investments in research and development, manufacturing, and clinical trials, which can lead to increased operating expenses.

In summary, the surge in operating expenses is a result of the company's strategic investments in preparing for clinical trials and scaling up its operations to advance its therapeutic pipeline.