FibroGen, Inc. (FGEN) Q4 2024 Earnings Conference Call: Key Insights
On March 17, 2025, FibroGen, Inc. (FGEN) held its Fourth Quarter and Full Year 2024 Earnings Conference Call. The call was hosted by Joanne Greller of LifeSci Advisors, with Thane Wettig, CEO, and David DeLucia, CFO, representing the company. Andy Sieh of William Blair and Matthew Keller of H.C. Wainwright participated as conference call participants.
Company Overview
FibroGen is a biopharmaceutical company focused on discovering, developing, and commercializing therapeutics to treat anemia, fibrotic diseases, and other conditions with high unmet medical needs. The company’s lead product, roxadustat, is a first-in-class, oral small molecule inhibitor of hypoxia-inducible factor (HIF) prolyl hydroxylase activity. Roxadustat is being developed for the treatment of anemia in chronic kidney disease (CKD) and beta-thalassemia.
Financial Performance
FibroGen reported a net loss of $155.8 million for Q4 2024, compared to a net loss of $137.3 million in the same period the previous year. The company’s revenue for the quarter was $11.6 million, up from $2.3 million in Q4 2023. The increase in revenue was primarily due to milestone payments received under collaborations with AstraZeneca and Astellas.
R&D Pipeline
FibroGen provided an update on its R&D pipeline. The company plans to initiate a Phase 3 study of roxadustat in non-dialysis dependent CKD patients in the second half of 2025. Additionally, FibroGen plans to initiate a Phase 3 study of roxadustat in beta-thalassemia patients in the second half of 2025. The company also announced that it has initiated a Phase 2b study of pulmonary arterial hypertension (PAH) in collaboration with AstraZeneca.
Collaborations
FibroGen discussed its collaborations with AstraZeneca and Astellas. The company received a $150 million milestone payment from AstraZeneca in Q4 2024 related to the PAH collaboration. FibroGen also announced that it has received a $50 million milestone payment from Astellas related to the roxadustat collaboration for the treatment of anemia in CKD patients in Japan.
Impact on Me
For individual investors, the FibroGen earnings call provided valuable insights into the company’s financial performance and R&D pipeline. The company’s strong financial position, with a cash balance of $569 million as of December 31, 2024, bodes well for its ability to fund ongoing R&D efforts and potential future acquisitions. The successful collaborations with AstraZeneca and Astellas also demonstrate the commercial potential of FibroGen’s pipeline.
Impact on the World
From a global perspective, the development of roxadustat has the potential to significantly impact the treatment of anemia in chronic kidney disease and beta-thalassemia. These conditions affect millions of people worldwide, and current treatment options are often limited or have significant side effects. Roxadustat’s unique mechanism of action, which targets HIF prolyl hydroxylase activity, could offer a more effective and safer treatment option for these patients.
Conclusion
Overall, the FibroGen earnings call provided a positive update on the company’s financial performance and R&D pipeline. The successful collaborations with AstraZeneca and Astellas, along with the potential commercial opportunities for roxadustat, position FibroGen as a company to watch in the biopharmaceutical industry. For individual investors, the strong financial position and promising pipeline offer potential for long-term growth.
- FibroGen reported a net loss of $155.8 million for Q4 2024, with revenue of $11.6 million
- The company plans to initiate Phase 3 studies of roxadustat in CKD and beta-thalassemia patients
- FibroGen received milestone payments of $150 million from AstraZeneca and $50 million from Astellas
- Roxadustat, a potential treatment for anemia in CKD and beta-thalassemia, could have a significant impact on global health
