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.
Unlock this article instantly by becoming a free subscriber.
You’ll get access to free articles each month, plus you can customize what newsletters get delivered to your inbox each week, including breaking news.