Stock Alert: FibroGen Rises To New 52-week High

(RTTNews) - Shares of FibroGen Inc. (FGEN) are rising more than 7 percent or $3.32 in Thursday's morning trade at $48.69, after touching a new 52-week high of $51.56.

FibroGen, a San Francisco-based biopharmaceutical company, is developing Roxadustat, an oral small molecule inhibitor of hypoxia-inducible factor prolyl hydroxylases that is in Phase III clinical development for the treatment of anemia in chronic kidney disease in the U.S. and Europe.

Meanwhile, Akebia Therapeutics, Inc. (AKBA) on Thursday reported top-line results from its PRO2TECT Global phase 3 program of Vadadustat for treatment of Anemia due to chronic kidney disease in adult patients not on dialysis. Vadadustat, like FibroGen's Roxadustat, is an investigational oral hypoxia-inducible factor prolyl hydroxylase inhibitor or HIF-PHI.

Vadadustat achieved the primary and key secondary efficacy endpoint in each of the two PRO2TECT studies, demonstrating non-inferiority to darbepoetin alfa. However, Vadadustat did not meet the primary safety endpoint of the PRO2TECT program, defined as non-inferiority of vadadustat versus darbepoetin alfa in time to first occurrence of major adverse cardiovascular events.

FibroGen has traded in a range of $22.65 to $51.56 in the past 52 weeks.