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FibroGen ( (FGEN) ) has shared an announcement.
On February 19, 2025, FibroGen entered into a share purchase agreement with AstraZeneca to sell its subsidiary, FibroGen International, for approximately $160 million. The sale includes all rights to Roxadustat in China, with the transaction expected to close by mid-2025, subject to regulatory approval. This move significantly strengthens FibroGen’s financial position, extending its cash runway into 2027 and allowing it to focus on advancing its oncology pipeline. The company plans to repay its term loan to Morgan Stanley Tactical Value upon closing, simplifying its capital structure.
More about FibroGen
FibroGen, Inc. is a biopharmaceutical company that focuses on developing novel therapies in cancer biology and anemia. Their primary product, Roxadustat, is approved in several regions, including China, Europe, and Japan, for treating anemia in chronic kidney disease patients. The company is also advancing its oncology pipeline with FG-3246, a CD46 targeting antibody-drug conjugate for metastatic castration-resistant prostate cancer, and FG-3180, a companion PET imaging agent.
YTD Price Performance: 6.04%
Average Trading Volume: 1,127,609
Technical Sentiment Consensus Rating: Buy
Current Market Cap: $58.95M
Find detailed analytics on FGEN stock on TipRanks’ Stock Analysis page.
