Compositions of microspheres formed of stabilized hyaluronic acid are disclosed. The unique biological properties of hyaluronic acid provide for very inert properties when exposed to tissues. Microsphere formulations of hyaluronic acid have medical utility due to the resultant properties of flowability, physical stability, and degradability. High concentration formulations of the microspheres have utility when injected to form a localized mass within tissues by providing physical stability and anti-fibrotic biological activity, especially suitable for certain surgical reconstructions. Low concentration formulation of the microspheres of the appropriate size range have utility when injected into the blood system to delivery diagnostic and therapeutic compounds.