FibroGen Inc. FGEN saw its share price plummet after the release of topline results from two late-stage trials evaluating the efficacy and safety of pamrevlumab in pancreatic cancer patients.
FibroGen (NASDAQ: FGEN ) layoffs are in the news Wednesday after the biopharmaceutical company announced plans to cut jobs after failed clinical trials. FibroGen says that it is going into a cost-saving mode that will result in layoffs for 75% of its U.S. employees.
FibroGen (NASDAQ: FGEN ) stock is falling hard on Wednesday after the biopharmaceutical company reported results from failed clinical trials. The first failed clinical trial covers the treatment of metastatic pancreatic cancer with pamrevlumab.