FibroGen (FGEN) IPO Opens Above Initial Pricing at $23/Share

November 14, 2014 10:50 AM EST

The IPO for FibroGen, Inc. (NASDAQ: FGEN),opened at $23 on Friday after the company priced 8.1 million shares at $18 apiece, before underwriting discounts and commissions.

All of the shares are being offered by FibroGen. FibroGen completed a 1-for-2.5 reverse stock split effective as of November 10, 2014.

FibroGen has granted the underwriters a 30-day option to purchase up to an additional 1,215,000 shares of common stock from FibroGen at the initial public offering price. The offering is expected to close on November 19, 2014, subject to customary closing conditions.

Goldman, Sachs & Co., Citigroup Global Markets Inc., and Leerink Partners LLC are acting as joint book-running managers of the offering. RBC Capital Markets, LLC, Stifel, Nicolaus & Company, Incorporated, and William Blair & Company, L.L.C. are acting as co-managers.

FibroGen is a research-based biopharmaceutical company focused on the discovery, development and commercialization of novel therapeutics to treat serious unmet medical needs. We have capitalized on our extensive experience in fibrosis and hypoxia-inducible factor, or HIF, biology to generate multiple programs targeting various therapeutic areas. Our most advanced product candidate, roxadustat, or FG-4592, is an oral small molecule inhibitor of HIF prolyl hydroxylases, or HIF-PHs, in Phase 3 clinical development for the treatment of anemia in chronic kidney disease, or CKD. Our second product candidate, FG-3019, is a monoclonal antibody in Phase 2 clinical development for the treatment of idiopathic pulmonary fibrosis, or IPF, pancreatic cancer and liver fibrosis. We have taken a global approach to the development and future commercialization of our product candidates, and this includes development and commercialization in the People’s Republic of China, or China.

Serious News for Serious Traders! Try Premium Free!

You May Also Be Interested In

Related Categories

Corporate News, IPOs, Trader Talk

Related Entities

William Blair, Citi, RBC Capital, IPO