Fibrogen CEO Wettig Thane buys $50,663 in common stock

Published 25/03/2025, 14:06
Fibrogen CEO Wettig Thane buys $50,663 in common stock

In a recent transaction, Wettig Thane, the CEO of FibroGen Inc (NASDAQ:FGEN), acquired a significant number of shares in the company. According to the SEC filing, Thane purchased 145,000 shares of common stock on March 24, 2025, at a weighted-average price of $0.3494 per share. The total value of this purchase amounts to approximately $50,663. This insider purchase comes as the stock has declined 86% over the past year, with the company’s market capitalization now at $37.24 million. InvestingPro analysis indicates the stock is currently undervalued, though the company faces significant challenges with weak financial health scores and rapid cash burn.

Following this acquisition, Thane’s direct ownership in FibroGen increased to 543,329 shares. Additionally, Thane’s indirect ownership, through a family member, remains at 1,000 shares. The shares were bought at prices ranging from $0.34 to $0.37. For deeper insights into FGEN’s valuation and 8 key ProTips, including detailed cash flow analysis and profitability metrics, check out the comprehensive Pro Research Report available on InvestingPro.

In other recent news, FibroGen Inc. reported its Q4 2024 earnings, showing an unexpected earnings per share (EPS) of $0.18, which surpassed the forecasted -$0.17. Despite this positive earnings surprise, the company’s revenue for the quarter fell to $3.1 million from $3.6 million the previous year. For the full year 2024, FibroGen’s revenue declined to $29.6 million from $46.8 million in 2023. The company also announced the sale of FibroGen China to AstraZeneca (NASDAQ:AZN) for approximately $160 million, which is expected to close by mid-2025. This transaction aims to streamline operations and extend FibroGen’s cash runway into 2027. Additionally, FibroGen is focusing on its oncology programs, particularly FG3246 and FG3180, in metastatic castration-resistant prostate cancer. The company plans to advance these programs and meet with the FDA to explore the development path for roxadustat in anemia associated with lower-risk myelodysplastic syndrome. These strategic developments are part of FibroGen’s efforts to address ongoing revenue challenges and enhance its pipeline.

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