Scott+Scott Attorneys at Law LLP Announces Investigation into FibroGen, Inc. (FGEN)

NEW YORK--(BUSINESS WIRE)--Scott+Scott Attorneys at Law LLP (“Scott+Scott”), an international shareholder and consumer rights litigation firm, is investigating whether FibroGen, Inc. (“FibroGen” or the “Company”) (NASDAQ: FGEN) or certain of its officers and directors violated federal securities laws. If you purchased or otherwise own FibroGen stock, and have suffered a loss, you are encouraged to contact Jonathan Zimmerman at [phone], or at [e-mail] for more information.

In November 2019, AstraZeneca and FibroGen presented results from a pooled safety analysis of six phase 3 trials purportedly showing that FibroGen’s potential first-in-class anemia therapy, Roxadustat, was comparable to placebo on a composite of major cardiac events among non-dialysis patients, comparable to Epogen/Procrit in dialysis-dependent patients, and superior to the erythropoietin drug in the incident dialysis subpopulation, which includes people new to dialysis.

On April 6, 2021, after the markets closed, FibroGen announced that this earlier data included “post-hoc changes to . . . stratification factors,” which resulted in the drug appearing safer and/or superior to Epogen-alfa in lowering the risk of cardiovascular events in certain kidney disease patients.

On this news, FibroGen’s stock price fell sharply from $34.64 per share on April 6, 2021 to close at $19.74 on April 7, 2021, representing an over 43% decline in a single day.

What You Can Do

If you purchased or otherwise own FibroGen stock, and you wish to discuss this investigation, please contact attorney Jonathan Zimmerman at [phone], or at [e-mail], or visit the FibroGen investigation page on our website at https://scott-scott.com/investigation/fibrogen-inc/.

About Scott+Scott Attorneys at Law LLP

Scott+Scott has significant experience in prosecuting major securities, antitrust, and employee retirement plan actions throughout the United States. The firm represents pension funds, foundations, individuals, and other entities worldwide with offices in New York, London, Connecticut, California, and Ohio.

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