FibroGen Lays Off 75% of US Staff After Cancer Drug Fails in Two Phase III Trials

1. Layoffs and Restructuring: FibroGen is laying off 75% of its US staff and suspending investment in its lead candidate, pamrevlumab, after it failed to meet primary endpoints in two Phase III trials for pancreatic cancer treatment.
2. Pamrevlumab Failure: The drug failed to show efficacy in patients with locally advanced, unresectable pancreatic cancer and metastatic pancreatic ductal adenocarcinoma.
3. Previous Failures: Pamrevlumab also failed to show efficacy in patients with Duchenne muscular dystrophy (DMD) in two Phase III trials last year.
4. Roxadustat: FibroGen's anaemia therapy, roxadustat, will continue to be developed and commercialized by Astellas in Japan, Europe, and other regions, and by AstraZeneca in China and South Korea.
5. Pipeline: FibroGen has another oncology candidate, FG-3246, a CD-46 targeting antibody-drug conjugate (ADC), which showed positive data in a Phase I trial for metastatic castration-resistant prostate cancer.