FibroGen (FGEN) AI Stock Analysis

• Market Cap: $44.48M
• Dividend Yield: N/A
• Average Volume (3M): 30.76K
• Price to Earnings (P/E): ―
• Beta (1Y): 1.89
• Revenue Growth: -95.39%
• EPS Growth: N/A
• Country: US
• Employees: 225
• Sector: Healthcare
• Sector Strength: 45
• Industry: Biotechnology
• EPS (TTM): 49.61
• Shares Outstanding: 4,043,899
• 10 Day Avg. Volume: 33,010
• 30 Day Avg. Volume: 30,760
• PEG Ratio: 0.33
• Price to Book (P/B): -5.87
• Price to Sales (P/S): 44.72
• P/FCF Ratio: -9.58
• Enterprise Value/Market Cap: 2.99
• Enterprise Value/Revenue: -1.13
• Enterprise Value/Gross Profit: -1.36
• Enterprise Value/Ebitda: -1.04
• 1Y Price Target: $43.00
• Price Target Upside: 402.34% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 2
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 42 Neutral
• Price Target: $8.50 ▼(-0.70% Downside)

FibroGen's overall stock score is primarily impacted by its financial instability, with significant challenges in revenue, equity, and cash flow. While strategic moves and clinical progress offer potential, the current financial and technical indicators suggest caution.

Positive Factors

Cash Runway Extension

The sale provides significant liquidity, extending the company's financial stability and ability to fund operations and R&D through 2028.

Regulatory Progress

Advancing regulatory pathways for roxadustat enhances the potential for market expansion and long-term revenue growth in new therapeutic areas.

Cost Reduction

Significant cost reductions improve operational efficiency, potentially leading to better financial performance and sustainability.

Negative Factors

Declining Revenue

Limited revenue growth indicates challenges in market penetration and product adoption, affecting long-term financial health.

Net Loss

Ongoing net losses highlight financial instability and the need for strategic adjustments to achieve profitability.

Financial Impact of Trials

High costs of upcoming trials could strain financial resources, potentially requiring additional capital and affecting cash flow.

FibroGen Business Overview & Revenue Model

Company Description

FibroGen, Inc., a biopharmaceutical company, discovers, develops, and commercializes therapeutics to treat serious unmet medical needs. The company is developing Roxadustat, an oral small molecule inhibitor of hypoxia inducible factor prolyl hydroxylases, which has completed Phase III clinical development for the treatment of anemia in chronic kidney disease in the United States, Europe, China, and Japan; and in Phase II/III development in China for anemia associated with myelodysplastic syndromes. It is also developing Pamrevlumab, a human monoclonal antibody that inhibits the activity of connective tissue growth factor that is in Phase III clinical development for the treatment of idiopathic pulmonary fibrosis, pancreatic cancer, liver fibrosis, and diabetic kidney disease, as well as Phase III trial for the treatment of Duchenne muscular dystrophy. The company has collaboration agreements with Astellas Pharma Inc. and AstraZeneca AB. FibroGen, Inc. was incorporated in 1993 and is headquartered in San Francisco, California.

How the Company Makes Money

FibroGen generates revenue primarily through the sale of its pharmaceutical products, most notably Roxadustat, which is marketed in collaboration with various partners. The company has established significant partnerships with organizations such as Astellas Pharma and AstraZeneca, which provide additional revenue streams through licensing agreements, milestone payments, and profit-sharing arrangements. Furthermore, FibroGen may also receive royalties on sales generated from its partners, contributing to its overall earnings. The company continues to explore new therapeutic indications and potential products, which could further enhance its revenue potential in the future.

FibroGen Financial Statement Overview

Summary

FibroGen is facing significant financial challenges, with declining revenues, persistent losses, and negative equity. The cash flow issues further exacerbate the situation, limiting the company's ability to invest in growth or cover operational expenses.

Income Statement

FibroGen's income statement reveals significant challenges. The company has experienced negative revenue growth over the past few years, with a sharp decline in total revenue from 2021 to TTM 2025. Despite a high gross profit margin, the net profit margin remains negative, indicating ongoing losses. The EBIT and EBITDA margins are also negative, reflecting operational inefficiencies and high expenses relative to revenue.

Balance Sheet

The balance sheet shows a concerning financial position with negative stockholders' equity, indicating that liabilities exceed assets. The debt-to-equity ratio is negative due to negative equity, which poses a risk to financial stability. Return on equity is also negative, highlighting the company's inability to generate profit from shareholders' investments.

Cash Flow

FibroGen's cash flow statement indicates severe cash flow issues. Operating cash flow and free cash flow are negative, with a declining trend in free cash flow growth. The operating cash flow to net income ratio is negative, suggesting that the company is not generating sufficient cash from operations to cover its net losses.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	-118.09M	29.62M	46.80M	140.73M	235.31M	176.32M
Gross Profit	-97.71M	14.06M	42.84M	120.45M	-213.88M	167.45M
EBITDA	-127.70M	-142.43M	-305.20M	-282.82M	-333.72M	-164.28M
Net Income	215.65M	-47.58M	-284.23M	-293.65M	-290.02M	-189.29M
Balance Sheet
Total Assets	137.01M	214.53M	423.53M	610.09M	773.82M	826.84M
Cash, Cash Equivalents and Short-Term Investments	117.97M	50.48M	235.59M	422.01M	405.19M	686.54M
Total Debt	19.47M	90.17M	170.46M	89.89M	99.72M	39.76M
Total Liabilities	119.53M	398.16M	585.73M	611.57M	544.71M	385.39M
Stockholders Equity	-17.03M	-225.60M	-204.17M	-21.45M	209.15M	422.18M
Cash Flow
Free Cash Flow	-17.09M	-138.26M	-317.54M	-184.67M	-112.42M	77.61M
Operating Cash Flow	-16.91M	-138.00M	-315.02M	-145.93M	-82.23M	81.60M
Investing Cash Flow	88.85M	125.99M	153.66M	89.12M	-426.97M	452.49M
Financing Cash Flow	-86.01M	-255.00K	122.75M	46.78M	-563.00K	13.34M

FibroGen Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 8.56
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Positive
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For FGEN, the sentiment is Negative. The current price of 8.56 is below the 20-day moving average (MA) of 9.78, below the 50-day MA of 10.75, and below the 200-day MA of 9.21, indicating a bearish trend. The MACD of -0.70 indicates Positive momentum. The RSI at 27.44 is Positive, neither overbought nor oversold. The STOCH value of 14.48 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for FGEN.

FibroGen Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
XLO	54 Neutral	$39.50M	―	-908.28%	―	588.40%	61.76%
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%
SNTI	47 Neutral	$54.68M	-0.62	-394.62%	―	―	78.60%
GRCE	46 Neutral	$48.12M	―	-13.15%	―	―	45.97%
FGEN	42 Neutral	$44.48M	-21.04	―	―	-95.39%	―
OKUR	42 Neutral	$41.94M	-0.58	-115.64%	―	―	46.20%
GBIO	39 Underperform	$35.36M	-0.48	-80.81%	―	-17.82%	57.32%

FibroGen Corporate Events

FibroGen’s Earnings Call: Strategic Moves Amid Financial Caution

FibroGen’s recent earnings call painted a mixed picture of optimism and caution. The company celebrated significant achievements, notably the transformative sale of FibroGen China and advancements in prostate cancer treatment. However, these positive strides were tempered by concerns over low revenue figures and financial challenges related to upcoming trials.

FibroGen’s Strategic Moves and Financial Highlights

FibroGen, Inc. is a biopharmaceutical company specializing in the development of innovative therapies in the fields of cancer biology and anemia, with notable products like roxadustat approved in multiple countries for treating anemia in chronic kidney disease patients.

FibroGen Receives $6.4 Million Payment from AstraZeneca

On November 6, 2025, FibroGen, Inc. received a $6.4 million payment from AstraZeneca, fulfilling the first holdback condition of their share purchase agreement. This follows the August 29, 2025, sale of FibroGen’s China operations to AstraZeneca for approximately $220 million, impacting the company’s financials and strategic focus.

The most recent analyst rating on (FGEN) stock is a Hold with a $11.00 price target. To see the full list of analyst forecasts on FibroGen stock, see the FGEN Stock Forecast page.

FibroGen Sells Subsidiary to AstraZeneca for $220 Million

On August 29, 2025, FibroGen completed the sale of its subsidiary, FibroGen International (Hong Kong) Ltd., to AstraZeneca Treasury Limited for approximately $220 million. This transaction allowed FibroGen to repay its senior secured term loan facilities with Morgan Stanley Tactical Value for around $81 million and enter into related agreements, including a transition services agreement. The sale marks a significant financial maneuver for FibroGen, impacting its financial statements and positioning within the industry.

The most recent analyst rating on (FGEN) stock is a Buy with a $43.00 price target. To see the full list of analyst forecasts on FibroGen stock, see the FGEN Stock Forecast page.

FibroGen Sells Subsidiary to AstraZeneca for $220M

On August 29, 2025, FibroGen completed the sale of its subsidiary, FibroGen China, to AstraZeneca for approximately $220 million. This transaction, which includes $85 million in enterprise value and $135 million in net cash, strengthens FibroGen’s financial position and extends its cash runway into 2028. The sale allows FibroGen to repay its term loan to Morgan Stanley Tactical Value and focus on advancing its clinical programs, including the Phase 2 trial of FG-3246 and the Phase 3 protocol for roxadustat in anemia associated with lower-risk MDS. The sale also reinforces FibroGen’s partnership with AstraZeneca, its long-time commercialization partner for roxadustat in China and South Korea.

The most recent analyst rating on (FGEN) stock is a Hold with a $12.00 price target. To see the full list of analyst forecasts on FibroGen stock, see the FGEN Stock Forecast page.

FibroGen’s Earnings Call Highlights Strategic Advances and Financial Challenges

FibroGen’s recent earnings call conveyed a predominantly positive outlook, driven by the increased financial consideration from the FibroGen China sale, which significantly extends the company’s cash runway. The initiation of new clinical trials and positive regulatory feedback further support this sentiment. However, concerns were noted regarding limited revenue growth and ongoing net losses.

FibroGen Gains Approval for Subsidiary Sale to AstraZeneca

On August 18, 2025, FibroGen announced that it received regulatory approval from the China State Administration for Market Regulation for the sale of its subsidiary, FibroGen China, to AstraZeneca. This transaction, expected to close in the third quarter of 2025, involves the transfer of all equity interests and roxadustat assets in China to AstraZeneca, FibroGen’s long-time commercialization partner in the region. FibroGen retains rights to roxadustat in other markets, including the United States and Canada. The sale is part of FibroGen’s strategic operations, potentially impacting its market positioning and stakeholder interests.

The most recent analyst rating on (FGEN) stock is a Buy with a $250.00 price target. To see the full list of analyst forecasts on FibroGen stock, see the FGEN Stock Forecast page.