FibroGen slumps as lung disease treatment fails in late-stage trial

Kyntra Bio

26/06/2023 12:53

** Shares of FibroGen  FGEN.O  plunge ~77% to $3.75
premarket 
    ** Co says its experimental drug to treat a type of lung
disease failed to meet its main goal in late-stage study 
    ** FGEN plans to discontinue a second late-stage trial on
the drug for treating idiopathic pulmonary fibrosis (IPF) 
     ** IPF is a chronic disease, characterized by a progressive
and irreversible decline in lung function
    ** Up to last close, stock up marginally so far this year

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