FibroGen, Inc. Announces Pricing of Follow-On Offering of Common Stock
August 15 2017 - 11:32PM
FibroGen, Inc. (NASDAQ:FGEN), a science-based biopharmaceutical
company, today announced that it has priced an underwritten
follow-on offering, which is expected to raise gross proceeds of
approximately $326 million.
FibroGen is offering 8,000,000 shares of its common stock at an
offering price of $40.75 per share, before underwriting discounts
and commissions. All of the shares are being offered by FibroGen.
In addition, FibroGen has also granted the underwriters a
30-day option to purchase up to an additional 1,200,000 shares of
common stock. The offering is expected to close on August 21, 2017,
subject to customary closing conditions.
Goldman Sachs & Co. LLC, Citigroup and Leerink Partners LLC
are acting as joint book-running managers for the offering.
These securities are registered pursuant to an automatic shelf
registration statement filed with the U.S. Securities and Exchange
Commission on March 1, 2017 and the offering is being made only by
means of a written prospectus forming part of the effective
registration statement. A preliminary prospectus related to the
offering has been filed with the SEC and is available on the SEC's
website, located at www.sec.gov. A copy of the final prospectus
relating to these securities, when available, may be obtained from
Goldman Sachs & Co. LLC, Attention: Prospectus Department, 200
West Street, New York, NY 10282, telephone: (866) 471-2526,
facsimile: (212) 902-9316 or by emailing
prospectus-ny@ny.email.gs.com; Citigroup, Attention: Broadridge
Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717,
telephone: (800) 831-9146; or Leerink Partners LLC, Attention:
Syndicate Department, One Federal Street, 37th Floor, Boston, MA
02110, telephone: (800) 808-7525, ext. 6132 or by email to
syndicate@leerink.com.
This press release shall not constitute an offer to sell or a
solicitation of an offer to buy, nor shall there be any sale of
these securities in any state or jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such state or
jurisdiction.
About FibroGen, Inc.
FibroGen, Inc., headquartered in San Francisco with subsidiary
offices in Beijing and Shanghai, is a leading science-based
biopharmaceutical company discovering and developing a pipeline of
first-in-class therapeutics. The company applies its
pioneering expertise in fibrosis and hypoxia-inducible factor (HIF)
biology and clinical development to advance innovative medicines
for the treatment of anemia, fibrotic disease, and cancer.
Roxadustat, the company’s most advanced product candidate, is an
oral small molecule inhibitor of HIF prolyl hydroxylase activity in
Phase 3 clinical development for the treatment of anemia in chronic
kidney disease (CKD), and is entering Phase 3 development for
anemia in lower risk myelodysplastic syndromes
(MDS). Pamrevlumab is a proprietary therapeutic antibody
developed by FibroGen to inhibit the activity of connective tissue
growth factor (CTGF), a common factor in chronic fibrotic and
proliferative disorders characterized by persistent and excessive
scarring that can lead to organ dysfunction and failure. FibroGen
is currently conducting clinical studies of pamrevlumab in
pancreatic cancer and Duchenne muscular dystrophy (DMD), and
recently completed a Phase 2 double-blind study in idiopathic
pulmonary fibrosis (IPF). In desmoplastic or fibrotic cancers, such
as pancreatic cancer, CTGF promotes abnormal proliferation of
stromal and tumor cells. FibroGen is also developing a biosynthetic
cornea in China.
Forward-Looking Statements
This press release includes forward-looking statements,
including with respect to the anticipated closing of the offering
described herein, intended to qualify for the safe harbor from
liability established by the Private Securities Litigation Reform
Act of 1995. These forward-looking statements include, but are not
limited to, statements about our plans, objectives, representations
and contentions and are not historical facts and typically are
identified by use of terms such as “may,” “should,” “could,”
“expect,” “plan,” “anticipate,” “believe,” “estimate,” “predict,”
“potential,” “continue” and similar words, although some
forward-looking statements are expressed differently. You should be
aware that the forward-looking statements in this press release
represent management’s current judgment and expectations, but our
actual results, events and performance could differ materially from
those in the forward-looking statements. Factors which could cause
or contribute to such differences include, but are not limited to,
the risks discussed in our Annual Report on Form 10-K, filed with
the SEC on March 1, 2017, as updated by the risks reported in our
Quarterly Reports on Form 10-Q, and in the press releases and other
communications to shareholders issued by us from time to time which
attempt to advise interested parties of the risks and factors which
may affect our business. We caution you not to place undue reliance
upon any such forward-looking statements. We undertake no
obligation to publicly update or revise any forward-looking
statements, whether as a result of new information, future events,
or otherwise, other than as required under the Federal securities
laws.
Contact
Karen L. Bergman
FibroGen, Inc.
VP, Investor Relations and Corporate Communications
+1 (415) 978-1433
kbergman@fibrogen.com
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