After multiple clinical trial failures, FibroGen lays off one-third of staff
FibroGen is laying off 104 employees in the US, it disclosed in an SEC filing Wednesday morning.
That equates to 32% of its workforce, the biotech said. In late June, FibroGen foreshadowed that layoffs would be coming after its antibody drug pamrevlumab failed a Phase III study in idiopathic pulmonary fibrosis — the biotech’s third late-stage trial failure in two months.
Now, FibroGen expects that it will have enough runway to last into 2026. Previously, the Bay Area biotech said that it had enough cash to operate through 2024.
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