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Health and Healthcare

Biotech Company FibroGen Files for IPO

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By Chris Lange Published
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FibroGen Inc. filed its S-1 form with the U.S. Securities and Exchange Commission (SEC) for its initial public offering (IPO). No terms were given for the offering, but they filed to sell up to $125 million shares. The company plans to list under the Nasdaq Global Market but has yet to decide under what symbol to list.

The underwriters for this offering are Goldman Sachs, RBC, Citigroup, Stifel, Leerink Partners and William Blair.

FibroGen is a research-based biopharmaceutical company focused on the discovery, development and commercialization of therapeutics. The company specializes in fibrosis and hypoxia-inducible factor, or HIF.

The most advanced product candidate, roxadustat, or FG-4592, is an oral small molecule inhibitor of HIF prolyl hydroxylases, or HIF-PHs, in Phase 3 clinical development for the treatment of anemia in chronic kidney disease. The second product candidate, FG-3019, is a monoclonal antibody in Phase 2 clinical development for the treatment of idiopathic pulmonary fibrosis, pancreatic cancer and liver fibrosis. There have been 1,271 subjects enrolled in 22 completed Phase 1 and 2 clinical studies for roxadustat in North America, Europe and Asia.

ALSO READ: Major Fallout Stocks After Confirmed U.S. Ebola Case

The proceeds from this offering will go toward developing roxadustat and other candidates within the pipeline, as well as for general corporate purposes. The company’s pipeline is shown in the diagram below.

FULL FIBROGEN IPO FILING

 

Fibrogen pipeline
FibroGen IPO Filing

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About the Author Chris Lange →

Chris Lange is a writer for 24/7 Wall St., based in Houston. He has covered financial markets over the past decade with an emphasis on healthcare, tech, and IPOs. During this time, he has published thousands of articles with insightful analysis across these complex fields. Currently, Lange's focus is on military and geopolitical topics.

Lange's work has been quoted or mentioned in Forbes, The New York Times, Business Insider, USA Today, MSN, Yahoo, The Verge, Vice, The Intelligencer, Quartz, Nasdaq, The Motley Fool, Fox Business, International Business Times, The Street, Seeking Alpha, Barron’s, Benzinga, and many other major publications.

A graduate of Southwestern University in Georgetown, Texas, Lange majored in business with a particular focus on investments. He has previous experience in the banking industry and startups.

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