FibroGen raises $326M in follow-on

FibroGen Inc. (NASDAQ:FGEN) raised $326 million through the sale of 8 million shares at $40.75 in a follow-on underwritten by Goldman Sachs, Citigroup and Leerink on Aug. 15.

Earlier this month, FibroGen’s pamrevlumab (FG-3019) met the primary endpoint in a Phase II trial to treat idiopathic pulmonary fibrosis (IPF). The human mAb against connective tissue growth factor (CTGF) is also in Phase II testing to treat non-ambulatory Duchenne muscular dystrophy (DMD) and pancreatic cancer...