After multiple clinical trial failures, FibroGen lays off one-third of staff

Fi­bro­Gen is lay­ing off 104 em­ploy­ees in the US, it dis­closed in an SEC fil­ing Wednes­day morn­ing.

That equates to 32% of its work­force, the biotech said. In late June, Fi­bro­Gen fore­shad­owed that lay­offs would be com­ing af­ter its an­ti­body drug pam­revlum­ab failed a Phase III study in id­io­path­ic pul­monary fi­bro­sis — the biotech’s third late-stage tri­al fail­ure in two months.

Now, Fi­bro­Gen ex­pects that it will have enough run­way to last in­to 2026. Pre­vi­ous­ly, the Bay Area biotech said that it had enough cash to op­er­ate through 2024.

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