SAN FRANCISCO, May 8, 2021 (GLOBE NEWSWIRE) – Hagens Berman calls on FibroGen, Inc. (NASDAQ: FGEN) Investors with significant losses can file their losses now.
School lesson: October 18, 2017 – April 6, 2021
Deadline of the main plaintiff: June 11, 2021
Contact an attorney now: [email protected]
Anti-Fraud by FibroGen, Inc. (NASDAQ: FGEN):
The complaint focuses on FibroGen presenting incorrect roxadustat data to make the anemia drug look safer than it is.
Throughout the classroom, FibroGen pointed out the prospects of Roxadustat. A major selling point for the drug was its alleged cardiac safety compared to standard injectable therapies containing erythropoietin (EPO), which cannot be banned for a wide variety of patients at risk of major cardiac events. To support this marketing advantage, FibroGen presented data from phase 3 studies that allegedly showed that roxadustat was safer than EPO in dialysis patients among other at risk populations.
After the market closed on April 6, 2021, FibroGen amazingly admitted to having changed the stratification factors so that Roxadustat’s exposure rates indicate a lower risk compared to the EPA. As a result of the data manipulation, Enrique Conterno, CEO of FibroGen, admitted that the company can no longer say that its drug is safer than EPO in dialysis patients.
In response to this news, several analysts have lowered their price targets for the FibroGen share and reduced their investment recommendations. In the news, the company’s share price fell over 43%, closing at $ 19.74 per share on April 7, 2021. Shares fell another 5% on April 8, 2021 due to the high volume.
“We’re focusing on investor losses and proving that FibroGen’s management has deliberately tampered with the safety data for the anemia drug,” said Reed Kathrein, Hagens Berman partner who led the investigation.
If you are a FibroGen investor and experience significant losses or have knowledge that may aid the company’s investigation, click here to discuss your statutory rights with Hagens Berman.
Whistleblower: Individuals with nonpublic information about FibroGen should consider their options to help with the investigation or to use the SEC’s whistleblower program. Under the new program, whistleblowers who provide original information can receive rewards of up to 30 percent for each successful SEC recovery. Further information is available from Reed Kathrein at 844-916-0895 or send an email to [email protected]
About Hagens Berman
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Reed Kathrein, 844-916-0895