FibroGen falls after Q4 revenue miss

Kyntra Bio

27/02/2024 12:06

** Shares of drug developer FibroGen Inc  FGEN.O  fall 14%
to $1.59 premarket  
    ** Co, after markets closed on Monday, reported a 21%
year-over-year drop in Q4 revenue, missing analysts' estimate
per  LSEG data
    ** Co also plans to report results from a late-stage
pancreatic cancer study in Q2, versus Q1 previously announced  
    ** Says FGEN regained rights to its experimental drug
roxadustat from AstraZeneca  AZN.L  in the U.S. and other AZN
territories, except China and South Korea     
    ** Brokerage William Blair says pending supportive data
could alter growth trajectory and investor perception
    ** Says co has ~ $248.1 million in cash and expects to
extend cash runway into 2026
    ** Up to last close, stock down ~92% in last 12 months 

 (Reporting by Mariam Sunny in Bengaluru)
 ((Mariam.ESunny@thomsonreuters.com;))