FibroGen Stock Is Surging After The Bell: What's Going On?
Portfolio Pulse from Adam Eckert
FibroGen Inc (NASDAQ:FGEN) shares surged in after-hours trading following the FDA's clearance of its Investigational New Drug (IND) for FG-3165 and a new clinical trial supply agreement with Regeneron Pharmaceuticals (NASDAQ:REGN). FG-3165 is a galectin-9 targeted monoclonal antibody for treating solid tumors. Phase 1 trials are set to begin in the second half of 2024.
June 03, 2024 | 8:48 pm
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POSITIVE IMPACT
FibroGen's stock surged 22.76% in after-hours trading following the FDA's clearance of its IND for FG-3165 and a new clinical trial supply agreement with Regeneron. The Phase 1 trials for FG-3165 are expected to begin in the second half of 2024.
The FDA clearance of the IND for FG-3165 is a significant regulatory milestone, and the new agreement with Regeneron adds further credibility and potential for successful clinical outcomes. These developments are likely to boost investor confidence and drive the stock price higher in the short term.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100
POSITIVE IMPACT
Regeneron Pharmaceuticals announced a clinical trial supply agreement with FibroGen to evaluate FG-3165 and FG-3175 in combination with its anti-PD-1 therapy LIBTAYO. This partnership could enhance Regeneron's oncology portfolio.
The clinical trial supply agreement with FibroGen to evaluate FG-3165 and FG-3175 in combination with LIBTAYO could enhance Regeneron's oncology portfolio. This partnership may positively impact Regeneron's stock in the short term as it demonstrates the company's commitment to expanding its cancer treatment options.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 70