FibroGen Announces Topline Results From Two Late-Stage Pamrevlumab Pancreatic Cancer Studies; Pamrevlumab Arm Of Precision PromiseSM Study In Metastatic Pancreatic Cancer Did Not Meet Primary Endpoint
Portfolio Pulse from Benzinga Newsdesk
FibroGen announced that its drug Pamrevlumab did not meet the primary endpoint in two late-stage pancreatic cancer studies. The company will terminate Pamrevlumab R&D, reduce its U.S. workforce by 75%, and implement a significant cost reduction plan.
July 30, 2024 | 8:15 pm
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FibroGen's Pamrevlumab did not meet primary endpoints in two pancreatic cancer studies. The company will terminate R&D for the drug, reduce its U.S. workforce by 75%, and implement a significant cost reduction plan.
The failure of Pamrevlumab to meet primary endpoints in two studies is a significant setback for FibroGen. The termination of R&D for the drug and a 75% reduction in the U.S. workforce indicate major operational changes. These factors are likely to negatively impact the stock price in the short term.
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