Here's Why FibroGen Stock Is Plunging Today
FibroGen (NASDAQ: FGEN) stock imploded Friday after an FDA advisory panel voted Thursday against approving the company's lead drug candidate, roxadustat. Shares of the biotech were down by around 46% as of 1:20 p.m. EDT.
The FDA convened a panel of independent experts Thursday afternoon to discuss the merits and shortcomings of roxadustat. This potential first-in-class drug inhibits hypoxia-inducible factor prolyl hydroxylase (HIF-PH) to promote red blood cell production.
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Source Fool.com
