FibroGen Adrift After Yet Another Pamrevlumab Failure

The asset appears to have a similar future in Duchenne muscular dystrophy as it has in idiopathic pulmonary fibrosis – to wit, none.

Many arrows missed hitting target mark. Shot miss. Multiple failed inaccurate attempts to hit archery target. Business challenge failure metaphor. Flat cartoon isolated vector object illustration — • Source: Shutterstock

Expectations were not high for the latest trial of FibroGen, Inc.’s pamrevlumab in Duchenne muscular dystrophy (DMD); nevertheless, the connective tissue growth factor-targeted product has still contrived to disappoint. The failure was so emphatic it has cut the company’s value by a quarter, leaving the share price at just 96¢ on NASDAQ on 30 August.

FibroGen began the Phase III LELANTOS-2 trial with the aim of showing that pamrevlumab could treat ambulatory patients – 73...