FibroGen (FGEN)
Market Price (1/8/2026): $9.74 | Market Cap: $39.4 MilSector: Health Care | Industry: Biotechnology
FibroGen (FGEN)
Market Price (1/8/2026): $9.74Market Cap: $39.4 MilSector: Health CareIndustry: Biotechnology
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
| Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 549%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 545% | Weak multi-year price returns2Y Excs Rtn is -98%, 3Y Excs Rtn is -178% | Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -38 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -459% |
| Cash is significant % of market capNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -300% | Significant share based compensationSBC/Rev LTMShare Based Compensation / Revenue (Sales), Last Twelve Months (LTM) is 67% | |
| Strong revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is 118% | Not cash flow generativeCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -204%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -206% | |
| Valuation becoming less expensiveP/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -30% | High stock price volatilityVol 12M is 2114% | |
| Megatrend and thematic driversMegatrends include Precision Medicine, and Aging Population & Chronic Disease. Themes include Targeted Therapies, Biopharmaceutical R&D, Show more. | Key risksFGEN key risks include [1] major regulatory hurdles and clinical trial failures for its key assets, Show more. |
| Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 549%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 545% |
| Cash is significant % of market capNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -300% |
| Strong revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is 118% |
| Valuation becoming less expensiveP/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -30% |
| Megatrend and thematic driversMegatrends include Precision Medicine, and Aging Population & Chronic Disease. Themes include Targeted Therapies, Biopharmaceutical R&D, Show more. |
| Weak multi-year price returns2Y Excs Rtn is -98%, 3Y Excs Rtn is -178% |
| Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -38 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -459% |
| Significant share based compensationSBC/Rev LTMShare Based Compensation / Revenue (Sales), Last Twelve Months (LTM) is 67% |
| Not cash flow generativeCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -204%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -206% |
| High stock price volatilityVol 12M is 2114% |
| Key risksFGEN key risks include [1] major regulatory hurdles and clinical trial failures for its key assets, Show more. |
Why The Stock Moved
Qualitative Assessment
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For the approximate time period from October 31, 2025, to January 8, 2026, FibroGen (FGEN) experienced a stock movement of -12.7%. Several key factors likely contributed to this decline:
1. FibroGen's Third Quarter 2025 Revenue Miss: On November 10, 2025, FibroGen reported its third-quarter 2025 financial results, with total revenue from continuing operations reaching $1.08 million. This figure fell below the analyst consensus estimates of $1.64 million, potentially leading to negative investor sentiment.
2. Delay in Key Clinical Trial Topline Results: During the third-quarter 2025 financial update on November 10, 2025, FibroGen announced a delay in the anticipated topline results from the investigator-sponsored Phase 1b/2 study of FG-3246 in combination with enzalutamide. These results, initially expected in the fourth quarter of 2025, were subsequently projected for presentation at a medical conference in the first quarter of 2026, which may have disappointed investors looking for near-term catalysts.
3. Show more
1. FibroGen's Third Quarter 2025 Revenue Miss: On November 10, 2025, FibroGen reported its third-quarter 2025 financial results, with total revenue from continuing operations reaching $1.08 million. This figure fell below the analyst consensus estimates of $1.64 million, potentially leading to negative investor sentiment.
2. Delay in Key Clinical Trial Topline Results: During the third-quarter 2025 financial update on November 10, 2025, FibroGen announced a delay in the anticipated topline results from the investigator-sponsored Phase 1b/2 study of FG-3246 in combination with enzalutamide. These results, initially expected in the fourth quarter of 2025, were subsequently projected for presentation at a medical conference in the first quarter of 2026, which may have disappointed investors looking for near-term catalysts.
3. Show more
Stock Movement Drivers
Fundamental Drivers
The -12.7% change in FGEN stock from 10/31/2025 to 1/7/2026 was primarily driven by a -22.7% change in the company's P/S Multiple.| 10312025 | 1072026 | Change | |
|---|---|---|---|
| Stock Price ($) | 11.12 | 9.71 | -12.68% |
| Change Contribution By | LTM | LTM | |
| Total Revenues ($ Mil) | 7.34 | 8.30 | 12.97% |
| P/S Multiple | 6.12 | 4.73 | -22.67% |
| Shares Outstanding (Mil) | 4.04 | 4.04 | -0.05% |
| Cumulative Contribution | -12.68% |
Market Drivers
10/31/2025 to 1/7/2026| Return | Correlation | |
|---|---|---|
| FGEN | -12.7% | |
| Market (SPY) | 1.1% | 14.2% |
| Sector (XLV) | 10.7% | 18.2% |
Fundamental Drivers
The 40.3% change in FGEN stock from 7/31/2025 to 1/7/2026 was primarily driven by a 18.6% change in the company's Total Revenues ($ Mil).| 7312025 | 1072026 | Change | |
|---|---|---|---|
| Stock Price ($) | 6.92 | 9.71 | 40.32% |
| Change Contribution By | LTM | LTM | |
| Total Revenues ($ Mil) | 7.00 | 8.30 | 18.63% |
| P/S Multiple | 3.99 | 4.73 | 18.46% |
| Shares Outstanding (Mil) | 4.04 | 4.04 | -0.14% |
| Cumulative Contribution | 40.32% |
Market Drivers
7/31/2025 to 1/7/2026| Return | Correlation | |
|---|---|---|
| FGEN | 40.3% | |
| Market (SPY) | 9.4% | 18.9% |
| Sector (XLV) | 23.0% | 12.6% |
Fundamental Drivers
The -19.7% change in FGEN stock from 1/31/2025 to 1/7/2026 was primarily driven by a -560.6% change in the company's P/S Multiple.| 1312025 | 1072026 | Change | |
|---|---|---|---|
| Stock Price ($) | 12.09 | 9.71 | -19.70% |
| Change Contribution By | LTM | LTM | |
| Total Revenues ($ Mil) | -47.33 | 8.30 | -117.53% |
| P/S Multiple | -1.03 | 4.73 | -560.58% |
| Shares Outstanding (Mil) | 4.02 | 4.04 | -0.57% |
| Cumulative Contribution | -19.70% |
Market Drivers
1/31/2025 to 1/7/2026| Return | Correlation | |
|---|---|---|
| FGEN | -19.7% | |
| Market (SPY) | 15.6% | -3.9% |
| Sector (XLV) | 10.2% | -9.5% |
Fundamental Drivers
The -98.4% change in FGEN stock from 1/31/2023 to 1/7/2026 was primarily driven by a -93.2% change in the company's Total Revenues ($ Mil).| 1312023 | 1072026 | Change | |
|---|---|---|---|
| Stock Price ($) | 590.00 | 9.71 | -98.35% |
| Change Contribution By | LTM | LTM | |
| Total Revenues ($ Mil) | 122.91 | 8.30 | -93.25% |
| P/S Multiple | 18.00 | 4.73 | -73.72% |
| Shares Outstanding (Mil) | 3.75 | 4.04 | -7.82% |
| Cumulative Contribution | -98.36% |
Market Drivers
1/31/2023 to 1/7/2026| Return | Correlation | |
|---|---|---|
| FGEN | -98.4% | |
| Market (SPY) | 76.0% | -1.7% |
| Sector (XLV) | 25.3% | -5.6% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| FGEN Return | -62% | 14% | -94% | -40% | -34% | 3% | -99% |
| Peers Return | 9% | -9% | 4% | -11% | 10% | 2% | 3% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 1% | 85% |
Monthly Win Rates [3] | |||||||
| FGEN Win Rate | 50% | 58% | 33% | 50% | 33% | 100% | |
| Peers Win Rate | 52% | 50% | 55% | 43% | 50% | 80% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 100% | |
Max Drawdowns [4] | |||||||
| FGEN Max Drawdown | -73% | -44% | -98% | -66% | -98% | 0% | |
| Peers Max Drawdown | -11% | -23% | -19% | -26% | -19% | -1% | |
| S&P 500 Max Drawdown | -1% | -25% | -1% | -2% | -15% | 0% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: ACT, ALKS, LIVN, PRGO, PCRX. See FGEN Returns vs. Peers.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 1/7/2026 (YTD)
How Low Can It Go
| Event | FGEN | S&P 500 |
|---|---|---|
| 2022 Inflation Shock | ||
| % Loss | -99.3% | -25.4% |
| % Gain to Breakeven | 14559.3% | 34.1% |
| Time to Breakeven | Not Fully Recovered days | 464 days |
| 2020 Covid Pandemic | ||
| % Loss | -49.3% | -33.9% |
| % Gain to Breakeven | 97.3% | 51.3% |
| Time to Breakeven | 204 days | 148 days |
| 2018 Correction | ||
| % Loss | -48.6% | -19.8% |
| % Gain to Breakeven | 94.5% | 24.7% |
| Time to Breakeven | Not Fully Recovered days | 120 days |
Compare to ACT, ALKS, LIVN, PRGO, PCRX
In The Past
FibroGen's stock fell -99.3% during the 2022 Inflation Shock from a high on 2/12/2021. A -99.3% loss requires a 14559.3% gain to breakeven.
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FibroGen, Inc., a biopharmaceutical company, discovers, develops, and commercializes therapeutics to treat serious unmet medical needs. The company is developing Roxadustat, an oral small molecule inhibitor of hypoxia inducible factor prolyl hydroxylases, which has completed Phase III clinical development for the treatment of anemia in chronic kidney disease in the United States, Europe, China, and Japan; and in Phase II/III development in China for anemia associated with myelodysplastic syndromes. It is also developing Pamrevlumab, a human monoclonal antibody that inhibits the activity of connective tissue growth factor that is in Phase III clinical development for the treatment of idiopathic pulmonary fibrosis, pancreatic cancer, liver fibrosis, and diabetic kidney disease, as well as Phase III trial for the treatment of Duchenne muscular dystrophy. The company has collaboration agreements with Astellas Pharma Inc. and AstraZeneca AB. FibroGen, Inc. was incorporated in 1993 and is headquartered in San Francisco, California.
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Here are 1-2 brief analogies for FibroGen (FGEN):
- Like a specialized Amgen or Gilead Sciences, focused on developing novel drugs for conditions such as anemia, fibrosis, and certain cancers.
- Similar to a focused Vertex Pharmaceuticals, aiming for breakthrough treatments in areas like chronic kidney disease anemia and various fibrotic diseases.
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- Roxadustat (brand names include Evrenzo): An oral medication approved for the treatment of anemia in chronic kidney disease patients.
- Pamrevlumab: An investigational antibody in late-stage clinical trials for treating serious fibrotic and cancerous diseases, including idiopathic pulmonary fibrosis, Duchenne muscular dystrophy, and pancreatic cancer.
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FibroGen (FGEN) sells primarily to other companies, specifically large pharmaceutical companies, through strategic collaboration agreements for the development and commercialization of its pharmaceutical products. Its revenue is largely generated from upfront payments, milestone payments, and royalties from these partners rather than direct sales to end-users or healthcare providers.
The major customer companies are:
- AstraZeneca (Symbol: AZN)
- Astellas Pharma (Symbol: TYO: 4503)
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```htmlThane Wettig, Chief Executive Officer
Thane Wettig was appointed Chief Executive Officer of FibroGen in July 2023. Prior to this role, he served as FibroGen's Chief Commercial Officer since June 2020. Before joining FibroGen, Mr. Wettig was the Chief Commercial Officer and Metabolic Franchise Head at Intarcia Therapeutics. He spent over 27 years at Eli Lilly, where he held various leadership positions, including Vice President of Global Marketing for Lilly Diabetes. In this role, he was instrumental in the development and launch of several blockbuster diabetes medicines and played a key part in the Lilly and Boehringer-Ingelheim diabetes alliance. Mr. Wettig began his career in sales at Eli Lilly in 1990.
David DeLucia, Chief Financial Officer
David DeLucia assumed the role of Chief Financial Officer at FibroGen in 2024. Before his promotion, he held the position of Vice President and Head of Corporate Financial Planning and Analysis, Investor Relations, and Treasury within FibroGen. Earlier in his career, Mr. DeLucia was at TherapeuticsMD, where he oversaw Financial Planning and Analysis, Corporate Development, and Investor Relations.
John Alden, General Counsel
John Alden serves as the General Counsel of FibroGen.
John Hunter, Ph.D., Chief Scientific Officer
Dr. John Hunter was appointed Chief Scientific Officer of FibroGen in July 2021. With over two decades of experience in the biotechnology sector, his expertise lies in antibody and small molecule drug discovery. Before joining FibroGen, he was the Chief Executive & Scientific Officer of Keyhole Therapeutics Inc., a private immuno-oncology company. Dr. Hunter also spent eight years at Compugen Limited, where he was Chief Scientific Officer & US Site Head, leading an international drug development team that resulted in three IND filings, including two first-in-class immune checkpoint inhibitors. Earlier in his career, he was a Senior Director at XOMA, managing strategic and functional activities for the preclinical antibody pipeline, and worked at Millennium Pharmaceuticals on target discovery and translational medicine for small molecule drug programs.
Tricia Stewart, Chief People Officer
Tricia Stewart has been the Chief People Officer of FibroGen since May 2021. Prior to her role at FibroGen, she held several positions at Genentech, including Vice-President Human Resources Pharma International in Basel, Switzerland, Vice-President Human Resources Product Development in South San Francisco, and Head of Global Mobility in Basel, Switzerland.
```AI Analysis | Feedback
The key risks to FibroGen's business include: 1. **Regulatory and Clinical Trial Failure:** FibroGen faces significant risks related to the successful development and regulatory approval of its drug candidates. Its most advanced product, roxadustat, received a Complete Response Letter (CRL) from the U.S. Food and Drug Administration (FDA) for anemia of chronic kidney disease (CKD) due to safety concerns, requiring additional clinical studies for potential resubmission. This was a major setback after an advisory committee overwhelmingly voted against its approval, citing increased risks of thromboses, seizures, major infections, and higher mortality. Furthermore, the company discontinued the development of pamrevlumab, its pancreatic cancer drug candidate, following disappointing results in Phase 2/3 and Phase 3 trials, leading to a substantial workforce reduction. FibroGen's future hinges on the clinical and commercial viability of its remaining pipeline, particularly FG-3246 and the repositioning of roxadustat for lower-risk myelodysplastic syndromes (LR-MDS), which still carries U.S. regulatory uncertainty given its prior rejection. 2. **Financial Stability and Liquidity:** The company has been operating at a significant net loss, with substantial cash burn. FibroGen's revenue has experienced a steep decline, with an 89% year-over-year decrease reported in Q1 2025. Its financial health is considered poor, evidenced by an Altman Z-Score in the distress zone, which indicates a high risk of bankruptcy within the next two years. While the sale of its China operations to AstraZeneca has extended its cash runway into 2028, enabling a focus on its core R&D initiatives, the company's long-term financial health remains heavily dependent on the successful advancement and commercialization of its pipeline. There is also a risk of dilutive capital raises if the company faces inadequate funding to progress its product candidates. 3. **Intense Competition:** FibroGen operates in highly competitive oncology and anemia markets where its current market share is negligible. The company's pipeline assets, such as FG-3246 for metastatic castration-resistant prostate cancer (mCRPC) and roxadustat for LR-MDS, face competition from other companies, including major pharmaceutical firms with established market presence and resources. The success of FibroGen's products depends on demonstrating superior efficacy and safety profiles compared to existing and emerging therapies.AI Analysis | Feedback
FibroGen (FGEN) faces clear emerging threats from two primary areas:
-
Clinical Trial Failures for Key Pipeline Assets: Pamrevlumab, a critical investigational therapeutic in FibroGen's pipeline, failed to meet its primary endpoint in the Phase 3 LAPIS trial for Idiopathic Pulmonary Fibrosis (IPF) in March 2024. IPF was a major potential indication for pamrevlumab, and this clinical setback significantly diminishes the drug's market potential and future revenue prospects in a substantial market opportunity. Such a failure for a late-stage asset is a material blow to the company's valuation and strategic direction.
-
Exclusion from the US Market for Roxadustat Amidst Competitor Approvals: Following the US FDA's rejection of Roxadustat (Evrenzo) for anemia of chronic kidney disease (CKD) due to safety concerns, FibroGen has effectively been excluded from the lucrative US market for this key product. Simultaneously, competitors have secured US FDA approval for similar mechanism-of-action drugs, such as GSK's daprodustat (Jesduvroq). This situation represents a clear threat, as FibroGen is unable to capitalize on a major market opportunity for one of its most advanced commercialized products, while rivals are establishing market share with competing therapies.
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Addressable Markets for FibroGen's Main Products
FibroGen (NASDAQ: FGEN) primarily focuses on two main product candidates: Roxadustat and FG-3246, following the termination of its pamrevlumab development program for other indications.Roxadustat (Anemia in Chronic Kidney Disease)
The addressable market for Roxadustat, an oral small molecule inhibitor for anemia associated with chronic kidney disease (CKD), is global. The global Roxadustat market size was valued at approximately USD 12.62 billion in 2024 and is projected to increase to USD 18.88 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 6.1% during that period. FibroGen, in collaboration with partners, markets Roxadustat in regions including the United States, the European Union, Japan, and China. In 2022, Roxadustat's total net sales in China by FibroGen and its joint distribution entity reached USD 208.8 million. The United States alone accounts for over 35% of global Roxadustat revenues.FG-3246 (Metastatic Castration-Resistant Prostate Cancer)
FibroGen is actively advancing FG-3246, a first-in-class antibody-drug conjugate (ADC) targeting CD46 for metastatic castration-resistant prostate cancer (mCRPC). This product is currently in Phase 2 clinical development. The global metastatic castration-resistant prostate cancer therapeutics market was valued at USD 16.46 billion in 2024. It is projected to grow to USD 87.19 billion by 2032, at a compound annual growth rate (CAGR) of 22.5% during the forecast period. North America held the largest share of this market in 2024.Pamrevlumab Program
FibroGen has discontinued the development of pamrevlumab for all indications. * **Idiopathic Pulmonary Fibrosis (IPF):** In June 2023, FibroGen announced that its Phase 3 ZEPHYRUS-1 trial for pamrevlumab in IPF did not meet its primary endpoint, leading to the discontinuation of further development in this area. Therefore, the addressable market for FibroGen's pamrevlumab for IPF is null. * **Pancreatic Cancer:** In July 2024, FibroGen reported that pamrevlumab failed to meet the primary endpoint in two late-stage pancreatic cancer studies (LAPIS and Precision Promise), resulting in the termination of the pamrevlumab development program. Consequently, the addressable market for FibroGen's pamrevlumab for pancreatic cancer is null. * **Duchenne Muscular Dystrophy (DMD):** Pamrevlumab failed to meet its primary endpoints in two Phase 3 trials for DMD in 2023, and FibroGen has since discontinued its development for this indication. Therefore, the addressable market for FibroGen's pamrevlumab for DMD is null.AI Analysis | Feedback
FibroGen (symbol: FGEN) anticipates several key drivers for future revenue growth over the next 2-3 years, primarily stemming from its strategic pipeline advancements and continued leverage of existing assets in specific markets. The company's focus has shifted following the planned sale of its China operations, emphasizing new product development and market expansion for its core therapies.
- Expansion of Roxadustat into Myelodysplastic Syndromes (MDS) in the U.S.: FibroGen is actively pursuing regulatory approval for roxadustat in the treatment of anemia associated with lower-risk myelodysplastic syndromes (LR-MDS) in the United States. The company has reached an agreement with the U.S. Food and Drug Administration (FDA) on important design elements for a pivotal Phase 3 trial, with plans to submit the Phase 3 protocol by Q4 2025. This represents a significant new market opportunity for roxadustat beyond its current anemia of chronic kidney disease (CKD) indication.
- Advancement and Potential Commercialization of FG-3246 for Metastatic Castration-Resistant Prostate Cancer (mCRPC): FibroGen's lead oncology asset, FG-3246, a first-in-class antibody-drug conjugate (ADC) targeting CD46, is a major focus for future growth. The company expects to initiate a Phase 2 monotherapy dose optimization study of FG-3246 in mCRPC in Q3 2025. Topline results from the Phase 2 portion of an investigator-sponsored study of FG-3246 in combination with enzalutamide in mCRPC patients are anticipated in Q4 2025. Successful progression and eventual commercialization of FG-3246 would open up a new revenue stream in precision oncology.
- Roxadustat Approval for Chemotherapy-Induced Anemia (CIA) in China: Despite the sale of FibroGen China to AstraZeneca, FibroGen anticipates a potential approval decision for roxadustat in chemotherapy-induced anemia (CIA) in China in the second half of 2024. If approved, FibroGen is expected to receive a $10 million milestone payment from AstraZeneca. While direct product revenue from China will be significantly impacted by the sale, milestone payments related to new indications for Roxadustat in China still represent a revenue driver in the near term.
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Share Issuance
- FibroGen executed a 1-for-25 reverse stock split, effective June 16, 2025.
- This action reduced the number of issued and outstanding shares from approximately 101.1 million to about 4.0 million.
- The primary goal of the reverse stock split was to increase the per-share market price to regain compliance with Nasdaq listing requirements.
Inbound Investments
- FibroGen completed the sale of its China subsidiary to AstraZeneca on August 29, 2025, for a total consideration of approximately $220 million.
- The total consideration included $85 million in enterprise value and approximately $135 million in net cash held in China.
- This transaction enabled FibroGen to repay its term loan of approximately $81 million to Morgan Stanley Tactical Value and extended its cash runway into 2028.
Capital Expenditures
- FibroGen's capital expenditures were approximately $0.27 million in 2024, $2.52 million in 2023, $3.74 million in 2022, $5.19 million in 2021, and $3.99 million in 2020.
- The company's facilities were deemed adequate for its current needs, indicating no major capital outlays for new facilities during this period.
Latest Trefis Analyses
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Peer Comparisons for FibroGen
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 27.68 |
| Mkt Cap | 2.8 |
| Rev LTM | 1,287 |
| Op Inc LTM | 194 |
| FCF LTM | 231 |
| FCF 3Y Avg | 192 |
| CFO LTM | 313 |
| CFO 3Y Avg | 252 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 2.8% |
| Rev Chg 3Y Avg | 4.1% |
| Rev Chg Q | 5.4% |
| QoQ Delta Rev Chg LTM | 1.3% |
| Op Mgn LTM | 9.2% |
| Op Mgn 3Y Avg | 9.7% |
| QoQ Delta Op Mgn LTM | -0.4% |
| CFO/Rev LTM | 19.2% |
| CFO/Rev 3Y Avg | 23.8% |
| FCF/Rev LTM | 15.8% |
| FCF/Rev 3Y Avg | 21.6% |
Segment Financials
Revenue by Segment| $ Mil | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|
| Development and commercialization of novel therapeutics to treat serious unmet medical needs | 47 | ||||
| Development and other revenue | 24 | 70 | 81 | 114 | |
| Drug product revenue, net | 11 | 1 | 9 | -36 | |
| License revenue | 23 | 116 | 14 | 177 | |
| Product revenue, net | 83 | 48 | 72 | 2 | |
| Total | 47 | 141 | 235 | 176 | 257 |
Price Behavior
Price Behavior
| Market Price | $9.71 | |
| Market Cap ($ Bil) | 0.0 | |
| First Trading Date | 11/14/2014 | |
| Distance from 52W High | -49.7% | |
| 50 Days | 200 Days | |
| DMA Price | $9.24 | $8.66 |
| DMA Trend | down | down |
| Distance from DMA | 5.1% | 12.1% |
| 3M | 1YR | |
| Volatility | 66.5% | 2,127.1% |
| Downside Capture | 54.59 | -175.11 |
| Upside Capture | -31.46 | -189.84 |
| Correlation (SPY) | 24.6% | -3.6% |
FGEN Betas & Captures as of 12/31/2025
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 2.44 | 1.03 | 1.25 | 1.54 | -4.04 | -1.32 |
| Up Beta | 0.73 | 2.66 | 3.49 | 2.52 | 0.91 | 1.20 |
| Down Beta | 9.83 | 3.28 | 1.94 | 2.05 | -0.18 | -1.15 |
| Up Capture | 2% | -105% | -52% | 185% | -47% | 0% |
| Bmk +ve Days | 11 | 23 | 37 | 72 | 143 | 431 |
| Stock +ve Days | 10 | 15 | 26 | 59 | 114 | 350 |
| Down Capture | 7% | 79% | 116% | 43% | -478% | 110% |
| Bmk -ve Days | 11 | 18 | 27 | 55 | 108 | 320 |
| Stock -ve Days | 12 | 24 | 36 | 65 | 133 | 389 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| FGEN vs. Other Asset Classes (Last 1Y) | |||||||
|---|---|---|---|---|---|---|---|
| FGEN | Sector ETF | Equity | Gold | Commodities | Real Estate | Bitcoin | |
| Annualized Return | -26.6% | 17.6% | 19.0% | 66.7% | 4.6% | 4.2% | -4.4% |
| Annualized Volatility | 2,114.4% | 17.3% | 19.4% | 19.9% | 15.4% | 17.0% | 34.7% |
| Sharpe Ratio | 0.96 | 0.77 | 0.77 | 2.45 | 0.09 | 0.08 | 0.00 |
| Correlation With Other Assets | -9.4% | -3.7% | -0.7% | 14.1% | -1.6% | -4.2% | |
ETFs used for asset classes: Sector ETF = XLV, Equity = SPY, Gold = GLD, Commodities = DBC, Real Estate = VNQ, Bitcoin = BTCUSD
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Based On 5-Year Data
| FGEN vs. Other Asset Classes (Last 5Y) | |||||||
|---|---|---|---|---|---|---|---|
| FGEN | Sector ETF | Equity | Gold | Commodities | Real Estate | Bitcoin | |
| Annualized Return | -60.0% | 8.9% | 14.7% | 18.3% | 11.5% | 5.0% | 27.6% |
| Annualized Volatility | 950.8% | 14.5% | 17.1% | 15.7% | 18.8% | 18.9% | 48.5% |
| Sharpe Ratio | 0.40 | 0.43 | 0.69 | 0.94 | 0.50 | 0.17 | 0.54 |
| Correlation With Other Assets | -3.1% | 0.1% | 0.4% | 5.1% | 1.0% | -0.4% | |
ETFs used for asset classes: Sector ETF = XLV, Equity = SPY, Gold = GLD, Commodities = DBC, Real Estate = VNQ, Bitcoin = BTCUSD
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Based On 10-Year Data
| FGEN vs. Other Asset Classes (Last 10Y) | |||||||
|---|---|---|---|---|---|---|---|
| FGEN | Sector ETF | Equity | Gold | Commodities | Real Estate | Bitcoin | |
| Annualized Return | -35.6% | 10.0% | 14.6% | 14.9% | 6.8% | 5.0% | 71.1% |
| Annualized Volatility | 673.7% | 16.6% | 18.0% | 14.8% | 17.6% | 20.8% | 55.7% |
| Sharpe Ratio | 0.30 | 0.49 | 0.70 | 0.83 | 0.31 | 0.21 | 0.91 |
| Correlation With Other Assets | 0.5% | 2.2% | 0.3% | 4.7% | 2.1% | 0.2% | |
ETFs used for asset classes: Sector ETF = XLV, Equity = SPY, Gold = GLD, Commodities = DBC, Real Estate = VNQ, Bitcoin = BTCUSD
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Returns Analyses
Earnings Returns History
Expand for More| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 11/10/2025 | -9.6% | -20.9% | -20.9% |
| 8/11/2025 | 10.5% | 35.0% | 37.5% |
| 5/12/2025 | -2.0% | 2.7% | -96.0% |
| 2/20/2025 | 37.4% | -18.1% | -40.1% |
| 11/12/2024 | -14.1% | -9.5% | -11.5% |
| 8/6/2024 | 4.5% | -11.4% | -3.4% |
| 5/6/2024 | 18.1% | 4.3% | 4.3% |
| 2/26/2024 | 14.6% | 7.0% | 31.9% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 9 | 8 | 8 |
| # Negative | 14 | 15 | 15 |
| Median Positive | 10.5% | 5.7% | 22.3% |
| Median Negative | -3.8% | -11.4% | -13.6% |
| Max Positive | 37.4% | 35.0% | 37.5% |
| Max Negative | -24.7% | -34.0% | -96.0% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 09/30/2025 | 11/10/2025 | 10-Q (09/30/2025) |
| 06/30/2025 | 08/11/2025 | 10-Q (06/30/2025) |
| 03/31/2025 | 05/12/2025 | 10-Q (03/31/2025) |
| 12/31/2024 | 03/17/2025 | 10-K (12/31/2024) |
| 09/30/2024 | 11/12/2024 | 10-Q (09/30/2024) |
| 06/30/2024 | 08/06/2024 | 10-Q (06/30/2024) |
| 03/31/2024 | 05/06/2024 | 10-Q (03/31/2024) |
| 12/31/2023 | 02/26/2024 | 10-K (12/31/2023) |
| 09/30/2023 | 11/06/2023 | 10-Q (09/30/2023) |
| 06/30/2023 | 08/07/2023 | 10-Q (06/30/2023) |
| 03/31/2023 | 05/08/2023 | 10-Q (03/31/2023) |
| 12/31/2022 | 02/27/2023 | 10-K (12/31/2022) |
| 09/30/2022 | 11/07/2022 | 10-Q (09/30/2022) |
| 06/30/2022 | 08/08/2022 | 10-Q (06/30/2022) |
| 03/31/2022 | 05/09/2022 | 10-Q (03/31/2022) |
| 12/31/2021 | 02/28/2022 | 10-K (12/31/2021) |
Industry Resources
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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