San Francisco biotech firm FibroGen has raised $145.8 million for its IPO after pricing its 8.1 million shares at $18 per share. The stock began trading Friday on the NASDAQ under the ticker symbol “FGEN.” Goldman Sachs, Citigroup and Leerink Partners are the lead underwriters.
SAN FRANCISCO–(BUSINESS WIRE)– FibroGen, Inc. (NASDAQ:FGEN), a research-based biopharmaceutical company focused on the discovery, development and commercialization of novel therapeutics to treat serious unmet medical needs, today announces the pricing of its initial public offering of 8,100,000 shares of its common stock at a public offering price of $18.00 per share, before underwriting discounts and commissions. All of the shares are being offered by FibroGen.
FibroGen completed a 1-for-2.5 reverse stock split effective as of November 10, 2014. The shares are expected to begin trading on The NASDAQ Global Select Market under the ticker symbol “FGEN” on November 14, 2014. In addition, FibroGen has granted the underwriters a 30-day option to purchase up to an additional 1,215,000 shares of common stock from FibroGen at the initial public offering price. The offering is expected to close on November 19, 2014, subject to customary closing conditions.
Goldman, Sachs & Co., Citigroup Global Markets Inc., and Leerink Partners LLC are acting as joint book-running managers of the offering. RBC Capital Markets, LLC, Stifel, Nicolaus & Company, Incorporated, and William Blair & Company, L.L.C. are acting as co-managers.
A registration statement relating to these securities was declared effective by the U.S. Securities and Exchange Commission on November 13, 2014. 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.
The offering is being made only by means of a written prospectus. A copy of the final prospectus relating to these securities, when available, may be obtained from Goldman, Sachs & Co., Attn: Prospectus Department, 200 West Street, New York, NY 10282, via telephone at (866) 471-2526 or by email to firstname.lastname@example.org; Citigroup Global Markets Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, via telephone at (800) 831-9146 or by email to email@example.com; or Leerink Partners LLC, Attn: Syndicate Department, One Federal Street, 37th Floor, Boston, MA 02110, via telephone at (800) 808-7525, ext. 6142 or by email to firstname.lastname@example.org.
FibroGen is a biotechnology company focused on the discovery, development, and commercialization of therapeutic agents for treatment of anemia, fibrosis, cancer, and other serious unmet medical needs. FibroGen’s FG-3019 fully human monoclonal antibody is in clinical development for treatment of idiopathic pulmonary fibrosis and other proliferative diseases, including pancreatic cancer and liver fibrosis. Roxadustat (FG-4592), FibroGen’s small molecule inhibitor of hypoxia-inducible factor (HIF) prolyl hydroxylase, is currently in clinical development for the treatment of anemia in chronic kidney disease patients who are dialysis-dependent, including hemodialysis and peritoneal dialysis, and not dialysis-dependent.