LOS ANGELES, April 08, 2021 (GLOBE NEWSWIRE) -- The Portnoy Law Firm advises FibroGen, Inc. ("FibroGen" or the "Company") (NASDAQ:FGEN) investors that the firm has initiated an investigation into possible securities fraud, and may file a class action on behalf of investors.
Investors are encouraged to contact attorney Lesley F. Portnoy, by phone 310-692-8883 or email: firstname.lastname@example.org, to discuss their legal rights, or click here to join the case via www.portnoylaw.com. The Portnoy Law Firm can provide a complimentary case evaluation and discuss investors' options for pursuing claims to recover their losses.
It is alleged in this complaint that FibroGen issued misleading and/or false statements and/or failed to disclose information pertinent to investors.On April 6, 2021, FibroGen issued a statement providing "clarification of certain prior disclosures of U.S. primary cardiovascular safety analyses from the roxadustat Phase 3 program for the treatment of anemia of chronic kidney disease (‘CKD')." FibroGen stated that its safety analysis "included post-hoc changes to the stratification factors." FibroGen also disclosed, based on analyses using the pre-specified stratification factors, that FibroGen "cannot conclude that roxadustat reduces the risk of (or is superior to) MACE+ in dialysis, and MACE and MACE+ in incident dialysis compared to epoetin-alfa." Shares of FibroGen dropped sharply, based on this news.
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