FibroGen (FGEN) AI Stock Analysis

• Market Cap: $38.47M
• Dividend Yield: N/A
• Average Volume (3M): 30.76K
• Price to Earnings (P/E): 0.2
• Beta (1Y): 1.49
• 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: 4,045,445
• 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: 3.46
• Enterprise Value/Revenue: -1.13
• Enterprise Value/Gross Profit: -1.36
• Enterprise Value/Ebitda: -1.04
• 1Y Price Target: $43.00
• Price Target Upside: 396.54% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 2
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 46 Neutral
• Price Target: $8.00 ▼(-7.62% Downside)

FibroGen's overall stock score is primarily impacted by its poor financial performance, characterized by declining revenues and financial instability. While the earnings call provided some positive strategic developments, the technical analysis and valuation indicate ongoing challenges. The stock's low P/E ratio suggests potential undervaluation, but financial risks remain significant.

Positive Factors

Cash Runway Extension

The sale provides significant liquidity, ensuring operational stability and funding for strategic initiatives over the next few years.

Regulatory Progress

Advancing regulatory pathways for key products like roxadustat can lead to expanded market opportunities and revenue growth.

Cost Reduction

Significant cost reductions improve financial health and can enhance profitability, enabling reinvestment into core business areas.

Negative Factors

Declining Revenue

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

Net Loss

Ongoing net losses highlight profitability issues, which may necessitate further cost management or capital raising efforts.

Financial Impact of Trials

High costs of upcoming trials could strain financial resources, potentially requiring additional funding and impacting 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 through several key streams. The primary source of income comes from the sale of its approved products, such as roxadustat, in markets where it is commercially available. Additionally, the company may receive milestone payments and royalties from partnerships and collaborations with other pharmaceutical companies that help develop and market its products. Significant partnerships, such as those with larger biopharmaceutical firms, can also provide upfront payments and shared funding for research and development activities. Furthermore, grants and funding from government and non-profit organizations can supplement its revenue, particularly for the advancement of its pipeline projects.

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: Positive
• Last Price: 8.66
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For FGEN, the sentiment is Positive. The current price of 8.66 is above the 20-day moving average (MA) of 8.62, below the 50-day MA of 9.84, and below the 200-day MA of 8.89, indicating a neutral trend. The MACD of -0.18 indicates Negative momentum. The RSI at 54.84 is Neutral, neither overbought nor oversold. The STOCH value of 60.07 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for FGEN.

FibroGen Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
XLO	54 Neutral	$34.13M	-0.99	-908.28%	―	588.40%	61.76%
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%
SNTI	47 Neutral	$32.86M	-0.37	-394.62%	―	―	78.60%
GRCE	46 Neutral	$51.68M	―	-13.15%	―	―	45.97%
FGEN	46 Neutral	$38.47M	0.21	―	―	-95.39%	―
OKUR	42 Neutral	$40.92M	-0.48	-115.64%	―	―	46.20%
GBIO	39 Underperform	$36.25M	-0.57	-80.81%	―	-17.82%	57.32%

FibroGen Corporate Events

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.