FibroGen, Inc. (FGEN)

FibroGen's stock price has been impacted by several key events in the past six months. The failure of pamrevlumab trials in pancreatic cancer led to a significant stock drop and program discontinuation in July 2024. The Q2 2025 earnings report in August 2025 revealed a quarterly loss per share and missed revenue estimates. FibroGen completed the sale of its China operations to AstraZeneca in September 2025, extending its cash runway into 2028. The initiation of the FG-3246 Phase 2 monotherapy trial in September 2025 was viewed positively. The Q3 2025 earnings report in November 2025 showed increased revenue compared to the previous year but a net loss from continuing operations. Overall, FGEN stock has risen by 11.82% over the last six months but experienced a -18.55% fall in the last month as of November 27, 2025.

There is no explicit information indicating significant demand seasonality for FibroGen's products and services. Roxadustat has shown consistent strong year-over-year volume growth in China, suggesting a steady demand. Pamrevlumab's development has been discontinued, so its demand seasonality is no longer relevant. FG-3246 is in early to mid-stage clinical development, and discussions of its market demand seasonality are premature. Pharmaceutical products addressing chronic and life-threatening conditions tend to have more stable demand patterns.

FibroGen, Inc. is a biopharmaceutical company focused on discovering, developing, and commercializing novel therapeutics for serious unmet medical needs, operating within the biotechnology sector, specifically the pharmaceuticals industry. The company's research and development efforts have historically focused on anemia, fibrotic diseases, and cancer. Key products include Roxadustat, an oral HIF-PH inhibitor for anemia associated with chronic kidney disease, approved in several countries and in Phase 3 development in China for chemotherapy-induced anemia. Pamrevlumab, a monoclonal antibody targeting CTGF, was in clinical development for fibrotic and oncologic diseases but has been discontinued due to trial failures. FG-3246, a potential first-in-class ADC targeting CD46, is in Phase 2 development for metastatic castration-resistant prostate cancer. FG-3165, an anti-GAL-9 antibody, is planned to enter Phase 1 trials for solid tumors, and FG-3175, an anti-CCR8 antibody, is in preclinical development for solid tumors.

FibroGen operates globally, including in the United States, Japan, Europe, and China. A significant portion of its revenue comes from collaboration agreements, primarily in Europe and Japan. Roxadustat has achieved commercial success in China. The company also maintains research and development centers across North America, Europe, and Asia.

FibroGen's brand reputation has been negatively impacted by clinical trial failures and subsequent corporate restructuring. The failure of the pamrevlumab Phase 3 trials led to the discontinuation of the program and a substantial workforce reduction. Historically, the company's value had also collapsed following late-stage trial failures, regulatory setbacks, and a data manipulation scandal. While the company is focusing on its oncology pipeline and has extended its cash runway, the setbacks with pamrevlumab have been a major blow to its reputation.

FibroGen's ownership structure includes institutional, retail, and individual investors. Approximately 26.50% to 30.37% of the company's stock is owned by institutional investors, 14.60% by insiders, and 55.03% by public companies and individual investors. Major institutional owners include Armistice Capital, Llc, Susquehanna International Group, Llp, Vanguard Group Inc, Acadian Asset Management Llc, BlackRock, Inc., Marshall Wace, Llp, Primecap Management Co/ca/, and T. Rowe Price Quantitative Management Funds, Inc.