Fi­bro­Gen shares rock­et up on pos­i­tive PhII da­ta in id­io­path­ic pul­monary fi­bro­sis

Shares of Fi­bro­gen $FGEN soared 62% af­ter the mar­ket close on Mon­day as the San Fran­cis­co-based biotech gave in­vestors a sign that its mid-stage study of pam­revlum­ab de­liv­ered a sta­tis­ti­cal­ly sig­nif­i­cant re­sult for id­io­path­ic pul­monary fi­bro­sis. Fi­bro­Gen end­ed the day with a mar­ket cap of $2.3 bil­lion, with the new mid-stage da­ta adding more than a bil­lion dol­lars to that.

At least one promi­nent an­a­lyst has changed his mind about this drug now, of­fer­ing peak sales es­ti­mates scrap­ing the block­buster mark.

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