The biopharmaceutical company FibroGen, Inc. (FGEN) has been seeing its stock’s price falling 23.81% in pre-market trading today. The decline came following sharing of an update by the company about a review of its new drug application by a committee of FDA and release of quarterly results.
Get the hottest stocks to trade every day before the market opens 100% free. Click here now.
What’s happening?
3 Tiny Stocks Primed to Explode
The world's greatest investor — Warren Buffett — has a simple formula for making big money in the markets. He buys up valuable assets when they are very cheap. For stock market investors that means buying up cheap small cap stocks like these with huge upside potential.
We've set up an alert service to help smart investors take full advantage of the small cap stocks primed for big returns.
Click here for full details and to join for free
Sponsored
Being a biopharmaceutical company, FibroGen Inc. is dedicated to the discovery, development, and commercialization of first-in-class drugs. In addition to its pioneering expertise in the field of hypoxia-inducible factor (HIF) and connective tissue growth factor (CTGF) biology, the Company develops treatments for unmet needs using its proprietary technologies. Roxadustat, a small molecule oral inhibitor of HIF prolyl hydroxylase activity that causes anemia associated with chronic kidney disease, is currently being developed and marketed by the Company.
Read More
- Underdog Growth Stocks You Should Keep an Eye on in 2021
- Are You Looking for Dividend Paying Stocks? Here are the Best Buys in 2021
FibroGen and its partner AstraZeneca yesterday announced that the U.S. Food and Drug Administration’s (FDA) Cardiovascular and Renal Drugs Advisory Committee (CARDAC) will hold an advisory committee (AdCom) meeting. The committee will be assessing roxadustat’s new drug application for market entry in the U.S in that meeting. The date for the AdCom meeting has not been confirmed by the FDA yet. Based on positive results from a global Phase 3 study involving more than 8,000 patients, the companies remain confident in the efficacy and safety profile of roxadustat.
In separate news also yesterday, the company announced the quarterly results for its fourth quarter 2020 financials.
Total revenue generated by the company in the fourth quarter of 2020 increased to $65.0 million from $8.0 million generated in the same quarter a year ago.
Get the hottest stocks to trade every day before the market opens 100% free. Click here now.
The net loss incurred in the quarter was -$58.6 million, or -$0.64 per share, as compared to a net loss of $98.1 million, or -$1.12 per share a year ago while analysts were estimating a net loss of -$0.29 per share.