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James A. Schoeneck, a director at FibroGen Inc . (NASDAQ:FGEN), recently expanded his holdings in the company through two separate stock purchases, as the stock trades near $0.32, down nearly 88% over the past year. According to a regulatory filing, Schoeneck acquired a total of 300,000 shares over two days, March 20 and March 21, for a combined total of $105,040.
On March 20, Schoeneck purchased 250,000 shares at a weighted-average price of $0.352 per share, with the purchase price ranging from $0.3499 to $0.3593. The following day, he acquired an additional 50,000 shares at a weighted-average price of $0.3408, with prices ranging from $0.3341 to $0.3466.
These transactions were conducted indirectly through a trust, and after these purchases, Schoeneck’s total holdings in FibroGen increased to 373,722 shares.
In other recent news, FibroGen Inc. reported an unexpected earnings per share (EPS) of $0.18 for the fourth quarter of 2024, surpassing analyst forecasts of -$0.17. Despite the positive EPS surprise, the company continues to face revenue challenges, with Q4 2024 revenue declining to $3.1 million from $3.6 million the previous year. Additionally, for the full year 2024, FibroGen’s revenue fell to $29.6 million, down from $46.8 million in 2023. The company announced a significant transaction involving the sale of FibroGen China to AstraZeneca (NASDAQ:AZN) for approximately $160 million, which is expected to close by mid-2025. This move aims to streamline operations and pay down debt, extending the company’s cash runway into 2027. Analysts from William Blair and H.C. Wainwright engaged with FibroGen’s executives, exploring the company’s focus on its oncology pipeline and the potential development of roxadustat for anemia treatment. Despite the ongoing revenue decline, FibroGen plans to concentrate on advancing its oncology programs, including FG3246 and FG3180, and meeting with the FDA to discuss further development of roxadustat.
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