FIBROGEN Reports Earnings For Q2 2023, Ending June 30th
August 11, 2023
🌥️Earnings Overview
On August 7, 2023, FIBROGEN ($NASDAQ:FGEN) reported its financial results for the second quarter of fiscal year 2023, which ended on June 30, 2023. The company generated total revenue of USD 44.3 million, a 48.7% increase from the same period in the previous year. Furthermore, its net income was USD -87.7 million, a higher figure compared to the -72.6 million from the prior year.
Share Price
On Monday, FIBROGEN released their earnings report for the second quarter of 2023, which ended on June 30th. The stock opened at $1.9 and closed at $1.8, a drop of 7.3% from the prior closing price. This decline is attributed to the company’s lack of announcement regarding any new developments in the period. Overall, the earnings report was disappointing and investors likely reacted negatively to the news. FIBROGEN has had a rough year, with its share price declining steadily since late April.
In addition to the second quarter results, investors are increasingly concerned about the company’s ability to keep up with its competitors in the biotech industry. Despite this, FIBROGEN remains optimistic about its prospects going forward, with plans to develop new drugs and treatments that could help it regain ground in the market. In conclusion, FIBROGEN’s second quarter earnings report was uninspiring, leading to a sharp decline in stock price. While FIBROGEN is working on potential treatments and drugs, investors remain uncertain about its future until concrete developments can be seen. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Fibrogen. FIBROGEN_Reports_Earnings_For_Q2_2023_Ending_June_30th”>More…
| Total Revenues | Net Income | Net Margin |
| 130.58 | -322.21 | -246.8% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Fibrogen. FIBROGEN_Reports_Earnings_For_Q2_2023_Ending_June_30th”>More…
| Operations | Investing | Financing |
| -316.56 | 135.07 | 170.6 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Fibrogen. FIBROGEN_Reports_Earnings_For_Q2_2023_Ending_June_30th”>More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 515.13 | 575.43 | -1.04 |
Key Ratios Snapshot
Some of the financial key ratios for Fibrogen are shown below. FIBROGEN_Reports_Earnings_For_Q2_2023_Ending_June_30th”>More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 6.4% | – | -243.2% |
| FCF Margin | ROE | ROA |
| -244.6% | 262.6% | -38.5% |
Analysis
At GoodWhale, we have conducted a comprehensive analysis of FIBROGEN‘s fundamentals, and have created the following report. Based on our Risk Rating system, we have determined that investing in FIBROGEN is a medium risk venture in terms of financial and business aspects. We have also identified four potential risk warnings in FIBROGEN’s income sheet, balance sheet, cash flow statement, and financial journal. As a registered user, you can check out these warnings for yourself and make an informed decision as to whether or not investing in FIBROGEN is the right choice for you. More…
Peers
The company’s lead product, roxadustat, is an oral small molecule inhibitor of hypoxia-inducible factor (HIF) prolyl hydroxylase enzymes. Roxadustat is in Phase 3 clinical development for the treatment of anemia in CKD, with potential additional indications in ILD and myelodysplastic syndromes (MDS). FibroGen has partnered with AstraZeneca in the development and commercialization of roxadustat globally, excluding Greater China, where FibroGen retains all rights. FibroGen’s competitors in the HIF inhibitor market include Vir Biotechnology Inc, BioArctic AB, Bavarian Nordic A/S, and others.
– Vir Biotechnology Inc ($NASDAQ:VIR)
Vir Biotechnology Inc is a clinical-stage biopharmaceutical company that focuses on treating and preventing serious infectious diseases. The company’s market cap is $3 billion and its ROE is 41.33%. Vir’s lead product candidate is VIR-7831, an antibody that is being developed for the treatment of COVID-19. The company is also developing VIR-1111, an antibody for the treatment of hepatitis B.
– BioArctic AB ($LTS:0RV2)
BioArctic AB is a Swedish research-based biotechnology company specializing in the development of drugs and diagnostics for neurodegenerative diseases, such as Alzheimer’s disease, Parkinson’s disease and ALS. The company’s market cap is 20.52B as of 2022 and its ROE is 0.62%.
– Bavarian Nordic A/S ($OTCPK:BVNRY)
Bavarian Nordic A/S is a biotechnology company that focuses on the development of cancer immunotherapies and vaccines. The company has a market cap of 2.25B as of 2022 and a return on equity of -4.97%. Bavarian Nordic A/S is headquartered in Copenhagen, Denmark.
Summary
FIBROGEN Inc. reported its financial results for the second quarter of fiscal year 2023, with total revenue increasing 48.7% year-over-year to USD 44.3 million. Despite this impressive growth in revenue, the company reported a net income of USD -87.7 million, compared to -72.6 million during the same period last year. This resulted in a drop in share price on the same day of the earnings results. Investors may want to review the results closely to assess FIBROGEN’s financial health, as well as its ability to generate sufficient profits from its operations.
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