Mizuho Securities USA LLC has initiated coverage with a ‘Neutral’ rating and price target of $61 on shares of FibroGen, Inc.’s (NASDAQ: FGEN) stock. Roxadustat is the company’s most advanced product candidate, currently in phase 3 clinical development for the treatment of anemia in chronic kidney disease (CKD). The analyst noted that the global collaboration deals FibroGen has in place position the company for a successful, global commercial launch of roxadustat upon NDA approval. Additionally, the analyst believes the company is nearing full valuation.
For more information, visit www.fibrogen.com
About FibroGen, Inc.
FibroGen, Inc., headquartered in San Francisco, CA with subsidiary offices in Beijing and Shanghai, PRC, is a leading science-based biopharmaceutical company discovering and developing a pipeline of first-in-class therapeutics. The company applies its pioneering expertise in fibrosis and hypoxia-inducible factor (HIF) biology and clinical development to advance innovative medicines for the treatment of anemia, fibrotic disease, and cancer. Roxadustat, the company’s most advanced product candidate, is an oral small molecule inhibitor of HIF prolyl hydroxylase activity in phase 3 clinical development for the treatment of anemia in chronic kidney disease (CKD) and is entering phase 3 development for anemia in lower risk myelodysplastic syndromes (MDS). Pamrevlumab, a fully-human monoclonal antibody that inhibits the activity of connective tissue growth factor (CTGF), is in phase 2 clinical development for the treatment of idiopathic pulmonary fibrosis (IPF), pancreatic cancer, and Duchenne muscular dystrophy (DMD). FibroGen is also developing a biosynthetic cornea in China.
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