FibroGen (FGEN) AI Stock Analysis

• Market Cap: $44.64M
• Dividend Yield: N/A
• Average Volume (3M): 30.76K
• Price to Earnings (P/E): ―
• Beta (1Y): 1.89
• Revenue Growth: -69.19%
• EPS Growth: 98.78%
• Country: US
• Employees: 225
• Sector: Healthcare
• Sector Strength: 45
• Industry: Biotechnology
• EPS (TTM): -1.88
• Shares Outstanding: 4,043,899
• 10 Day Avg. Volume: 33,010
• 30 Day Avg. Volume: 30,760
• PEG Ratio: N/A
• Price to Book (P/B): N/A
• Price to Sales (P/S): N/A
• P/FCF Ratio: N/A
• Enterprise Value/Market Cap: 2.98
• Enterprise Value/Revenue: -1.83
• Enterprise Value/Gross Profit: -2.30
• Enterprise Value/Ebitda: -1.03
• 1Y Price Target: $43.00
• Price Target Upside: 289.49% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 2

• Rating: 46 Neutral
• Price Target: $11.00 ▼(-0.36% Downside)

FibroGen's overall stock score is primarily impacted by its poor financial performance, characterized by declining revenues, persistent losses, and negative equity. While the earnings call provided some positive developments, such as the sale of FibroGen China and new clinical trials, these are overshadowed by the company's ongoing financial struggles. Technical indicators and valuation metrics also reflect a challenging outlook, with no immediate signs of recovery.

Positive Factors

Strategic Partnerships

These partnerships provide additional revenue streams through licensing agreements, milestone payments, and profit-sharing, enhancing long-term financial stability and market reach.

Cash Runway Extension

A longer cash runway provides FibroGen with more time to develop its pipeline and reach profitability, reducing the immediate need for external financing.

Pipeline Development

Advancing clinical trials for new therapies like FG-3246 indicates potential future revenue streams and strengthens FibroGen's position in the oncology market.

Negative Factors

Declining Revenue

Continued revenue decline undermines financial health and limits the company's ability to invest in growth, posing a risk to long-term viability.

Negative Cash Flow

Persistent negative cash flow indicates operational inefficiencies and limits FibroGen's ability to fund new projects or manage debt, impacting long-term growth.

Regulatory Challenges

Regulatory issues can damage reputation and lead to increased scrutiny, potentially delaying product approvals and affecting long-term strategic goals.

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's financial position is weak across all verticals, with declining revenues, persistent losses, and negative equity. The company faces significant challenges in improving its cash flow and financial stability, necessitating urgent strategic adjustments to address these issues.

Income Statement

FibroGen has experienced significant revenue decline with a negative revenue growth rate in recent periods. The company's profitability metrics, including gross profit margin and net profit margin, are negative due to consistent net losses. The EBIT and EBITDA margins are also negative, reflecting operational inefficiencies.

Balance Sheet

The balance sheet reveals a concerning financial structure with negative stockholders' equity, leading to an undefined debt-to-equity ratio. The equity ratio is also negative, indicating liabilities exceed assets. These factors suggest high financial risk and potential solvency issues.

Cash Flow

Cash flow analysis highlights negative operating and free cash flows, indicating ongoing cash burn. The free cash flow to net income ratio is negative, as is the operating cash flow to net income ratio, pointing to challenges in generating cash from operations.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	-72.84M	29.62M	46.80M	140.73M	235.31M	176.32M
Gross Profit	-57.80M	14.06M	42.84M	120.45M	222.44M	167.45M
EBITDA	-129.06M	-142.43M	-305.20M	-282.82M	-274.80M	-164.28M
Net Income	-2.07M	-47.58M	-284.23M	-293.65M	-291.03M	-189.29M
Balance Sheet
Total Assets	178.06M	214.53M	423.53M	610.09M	773.82M	826.84M
Cash, Cash Equivalents and Short-Term Investments	23.37M	50.48M	235.59M	422.01M	405.19M	686.54M
Total Debt	93.13M	73.09M	170.46M	89.89M	117.35M	58.46M
Total Liabilities	359.08M	398.16M	585.73M	611.57M	544.71M	385.39M
Stockholders Equity	-223.00M	-225.60M	-204.17M	-21.45M	209.15M	422.18M
Cash Flow
Free Cash Flow	-23.69M	-138.26M	-317.54M	-184.67M	-112.42M	77.61M
Operating Cash Flow	-23.44M	-138.00M	-315.02M	-145.93M	-82.23M	81.60M
Investing Cash Flow	2.45M	125.99M	153.66M	89.12M	-426.97M	452.49M
Financing Cash Flow	-219.00K	-255.00K	122.75M	46.78M	-563.00K	13.34M

FibroGen Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 11.04
• 50DMA: Negative
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• 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 11.04 is above the 20-day moving average (MA) of 11.01, below the 50-day MA of 11.40, and above the 200-day MA of 9.49, indicating a neutral trend. The MACD of -0.10 indicates Positive momentum. The RSI at 49.27 is Neutral, neither overbought nor oversold. The STOCH value of 43.00 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	―	$40.94M	-1.03	-277.74%	―	536.44%	63.68%
Sector *	―	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%
GBIO	―	$41.09M	-0.56	-85.45%	―	61.15%	54.71%
SNTI	―	$54.41M	-0.23	-169.54%	―	-100.00%	29.21%
FGEN	―	$44.64M	-21.12	―	―	-69.19%	98.78%
GRCE	―	$44.11M	-3.87	-16.78%	―	―	32.31%
OKUR	―	$44.92M	-0.62	-90.56%	―	―	68.13%

FibroGen Corporate Events

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.

FibroGen Amends Financing Agreement with Morgan Stanley

On August 12, 2025, FibroGen, a company involved in a financing agreement with investment funds managed by Morgan Stanley Tactical Value, entered into a fourth amendment to this agreement. This amendment reduces the minimum qualified cash balance required to be held in U.S. deposit or securities accounts from $18.75 million to $15 million, potentially impacting the company’s cash management strategies and financial flexibility.

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.

FibroGen’s Strategic Moves and Financial Outlook

FibroGen, Inc. is a biopharmaceutical company that focuses on developing innovative therapies in the fields of cancer biology and anemia, with notable products like roxadustat and FG-3246. The company operates in the healthcare sector and is known for its pioneering work in these therapeutic areas.