FibroGen Announces Strategic Sale and Financial Outlook

FibroGen ( (FGEN) ) has released its Q4 earnings. Here is a breakdown of the information FibroGen presented to its investors.

FibroGen, Inc. is a biopharmaceutical company focused on developing novel therapies in cancer biology and anemia, with notable products like roxadustat for anemia in chronic kidney disease and FG-3246 for prostate cancer treatment. In its latest earnings report, FibroGen announced the sale of FibroGen China to AstraZeneca for approximately $160 million, which is expected to extend the company’s cash runway into 2027. The company also highlighted the initiation of a Phase 2 trial for FG-3246, a promising antibody-drug conjugate for prostate cancer, expected by mid-2025. Financially, FibroGen reported a decrease in total revenue from $46.8 million in 2023 to $29.6 million in 2024, with a significant reduction in net loss from $323.0 million in 2023 to $153.1 million in 2024. The company remains optimistic about its future, focusing on strategic milestones and maintaining a strong financial position post-sale of its Chinese operations.