FibroGen (FGEN) Misses Q4 EPS by 53c, Revenues Miss
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FibroGen (NASDAQ: FGEN) reported Q4 EPS of ($1.12), $0.53 worse than the analyst estimate of ($0.59). Revenue for the quarter came in at $7.97 million versus the consensus estimate of $36.05 million.
Corporate and Financial
- Net loss for the fourth quarter of 2019 was $98.1 million, or $1.12 net loss per basic and diluted share, compared to a net income of $21.0 million, or $0.25 net income per basic share and $0.23 net income per diluted share one year ago.
- Net loss for the year was $77.0 million, or $0.89 net loss per basic and diluted share, compared to a net loss of $86.4 million, or $1.03 net loss per basic and diluted share one year ago.
- At December 31, 2019, FibroGen had $627.1 million in cash, restricted time deposits, cash equivalents, investments, and receivables.
- Based on our latest forecast, we estimate our 2020 ending cash to be in the range of $720 million to $730 million.
“I am thrilled to be joining FibroGen at such an important inflection point for the company. In 2019 we submitted the roxadustat U.S. New Drug Application (NDA), launched roxadustat in China and Japan, and initiated pivotal programs for pamrevlumab in idiopathic pulmonary fibrosis (IPF) and locally advanced unresectable pancreatic cancer (LAPC),” said Enrique Conterno, Chief Executive Officer, FibroGen. “We begin 2020 with a strong foundation on which to build and with continued commitment to unlocking new treatment options that improve patients’ lives.
"FibroGen has a unique opportunity to leverage its world class science in three areas of focus: ensuring the regulatory and commercial success of roxadustat – a potentially transformational oral medicine in anemia therapy, first demonstrated in patients with chronic kidney disease; accelerating the development of pamrevlumab, in the three high-value indications of IPF, LAPC, and Duchenne muscular dystrophy (DMD); and advancing innovation of our hypoxia-inducible factor (HIF) and connective tissue growth factor (CTGF) platforms.”
For earnings history and earnings-related data on FibroGen (FGEN) click here.
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