FibroGen (NASDAQ:FGEN) Stock

FibroGen

FibroGen Inc is a biotechnology company focused on discovering, developing, and commercializing novel therapeutics to treat serious cancer biology and anemia. The Company operates in one reportable segment: the development and commercialization of novel therapeutics to treat serious unmet medical needs. The company generates the vast majority of its revenue in Europe, followed by Japan. Virtually all of FibroGen's revenue to date has been generated from its collaboration agreements. FibroGen seeks partners with research, development, and marketing capabilities and other resources that strengthen the company's ability to advance product candidates.

FibroGen Inc

FibroGen Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FGEN#NASDAQ">FGEN</a>) stock is trading higher on Thursday. The company&nbsp;announced the sale of its China subsidiary to AstraZeneca Plc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AZN#NASDAQ">AZN</a>) for <a target="_blank" href="https://www.benzinga.com/pressreleases/25/02/g43842973/fibrogen-announces-the-sale-of-fibrogen-china-to-astrazeneca-for-approximately-160-million" rel="noreferrer noopener">approximately $160 million</a>.
&#8220;Today, we announced the sale of FibroGen China to AstraZeneca, our long-time strategic partner for roxadustat in China, bolstering our company on several fronts. It strengthens our financial position, meaningfully extending our cash runway into 2027, and enables us to continue progressing the clinical development program for FG-3246, our first-in-class, CD46 targeting antibody-drug conjugate, and FG-3180, our companion PET imaging agent, in mCRPC,&#8221; said Thane Wettig, Chief Executive Officer of FibroGen.
Also Read: <a target="_blank" href="https://www.benzinga.com/general/biotech/25/01/43065029/astrazeneca-aims-to-restore-trust-with-new-leadership-in-china-amid-scandal-and-sales-decline" rel="noreferrer noopener">AstraZeneca Aims to Restore Trust With New Leadership in China Amid Scandal and Sales Decline</a>
FibroGen will receive an enterprise value of $85 million plus FibroGen net cash in China at closing, estimated to be approximately $75 million, totaling roughly $160 million. The transaction is expected to close by mid-2025.
AstraZeneca will obtain all rights to roxadustat for anemia in chronic kidney disease in China. A regulatory decision for chemotherapy-induced anemia is pending.
FibroGen maintains its rights to roxadustat in the U.S. and in all markets not licensed to Astellas. The company continues to evaluate a development plan for roxadustat in anemia associated with lower-risk myelodysplastic syndrome.
The company is planning for an FDA meeting in the second quarter of 2025 to determine the potential next steps for the development program for roxadustat in the U.S.
In relation to the illegal drug importation allegations, in January 2025, AstraZeneca received a Notice of Transfer to the Prosecutor and an Appraisal Opinion from the Shenzhen City Customs Office regarding suspected unpaid importation taxes amounting to $0.9 million, referred to in the Appraisal Opinion relate to cancer drugs, <a target="_blank" href="https://www.benzinga.com/general/biotech/25/02/43527514/astrazeneca-q4-earnings-revenue-and-eps-beat-on-higher-cancer-and-respiratory-drug-sales-faces-4-5-million-potential-fine-in-china" rel="noreferrer noopener">Imfinzi and Imjudo</a>.
A fine of one and five times unpaid importation taxes may also be levied if AstraZeneca is found liable (amounting to around $0.9 million to $4.5 million). Reuters notes the update reassures analysts and investors that the business impact would be minor.
AstraZeneca&#8217;s China sales fell 1% on a reported basis to&nbsp;<a target="_blank" href="https://www.benzinga.com/general/biotech/24/11/41907137/astrazeneca-lifts-2024-forecast-on-better-than-expected-q3-performance-says-it-takes-china-invest" rel="noreferrer noopener">$1.36 billion (-3% at CER)</a>.
Price Action: FGEN stock is up 21.6% at $0.68 at last check Thursday.
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</ul>
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Amid Mounting Pressure In China, AstraZeneca Buys FibroGen's Chinese Unit For $160 Million

HC Wainwright &amp; Co. analyst Joseph Pantginis reiterates FibroGen (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FGEN#NASDAQ">FGEN</a>) with a Buy and maintains $10 price target.

Price Target

Reiteration

Analyst Ratings

HC Wainwright & Co. Reiterates Buy on FibroGen, Maintains $10 Price Target

WIIM

FibroGen shares are trading higher after the company announced the sale of its China subsidiary to AstraZeneca for approximately $160 million.

<ul>
<li>&nbsp;Purchase price represents enterprise value of $85 million plus FibroGen net cash held in China at closing, currently estimated to be approximately $75 million</li>
<li>Upon close, FibroGen will repay its term loan to Morgan Stanley Tactical Value, further simplifying the Company's capital structure
<ul>
<li>Company's cash runway extended into 2027</li>
</ul>
</li>
<li>Company to continue to advance its oncology pipeline, with the initiation of the Phase 2 monotherapy trial of FG-3246 in metastatic castration-resistant prostate cancer (mCRPC) in 2Q 2025</li>
<li>Preliminary unaudited cash, cash equivalents, and accounts receivable of $121.1 million as of December 31, 2024</li>
</ul>

FibroGen Announced The Sale Of Its China Subsidiary To AstraZeneca For Approximately $160M

Management

FibroGen Announced The Appointment Of David DeLucia As CFO Effective December 16, 2024

FibreGen shares are trading higher. The stock may be moving on continued strength following a Q3 earnings beat reported on Tuesday.

Guidance

FibroGen Reiterates Full Year Net Product Revenue Guidance Of $135M-$150M

FibroGen (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FGEN#NASDAQ">FGEN</a>) reported quarterly losses of $(0.17) per share which beat the analyst consensus estimate of $(0.38) by 55.26 percent. The company reported quarterly sales of $46.333 million which beat the analyst consensus estimate of $34.763 million by 33.28 percent. This is a 15.45 percent increase over sales of $40.134 million the same period last year.

Earnings

Earnings Beats

FibroGen Q3 2024 GAAP EPS $(0.17) Beats $(0.38) Estimate, Sales $46.333M Beat $34.763M Estimate

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Earnings Scheduled For November 12, 2024

FibroGen (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FGEN#NASDAQ">FGEN</a>) will release its quarterly earnings report on Tuesday, 2024-11-12. Here's a brief overview for investors ahead of the announcement.
Analysts anticipate FibroGen to report an earnings per share (EPS) of $-0.30.
The announcement from FibroGen is eagerly anticipated, with investors seeking news of surpassing estimates and favorable guidance for the next quarter.
It's worth noting for new investors that guidance can be a key determinant of stock price movements.
<h3>Earnings Track Record</h3>
Last quarter the company beat EPS by $0.10, which was followed by a 4.55% increase in the share price the next day.
Here's a look at FibroGen's past performance and the resulting price change:

<table>
<thead>
<tr>
<th>Quarter</th>
<th>Q2 2024</th>
<th>Q1 2024</th>
<th>Q4 2023</th>
<th>Q3 2023</th>
</tr>
</thead>
<tbody>
<tr>
<td>EPS Estimate</td>
<td>-0.26</td>
<td>-0.42</td>
<td>-0.42</td>
<td>-0.68</td>
</tr>
<tr>
<td>EPS Actual</td>
<td>-0.16</td>
<td>-0.33</td>
<td>-0.57</td>
<td>-0.52</td>
</tr>
<tr>
<td>Price Change %</td>
<td>5.0%</td>
<td>18.0%</td>
<td>15.0%</td>
<td>-1.0%</td>
</tr>
</tbody>
</table>

<img src="https://www.benzinga.com/files/images/story/2024/1731337259_0.png" alt="eps graph" />
<h3>Performance of FibroGen Shares</h3>
Shares of FibroGen were trading at $0.323 as of November 08. Over the last 52-week period, shares are down 31.24%. Given that these returns are generally negative, long-term shareholders are likely upset going into this earnings release. 
<a href="https://www.benzinga.com/quote/FGEN/earnings">To track all earnings releases for FibroGen visit their earnings calendar on our site.</a>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Earnings Outlook For FibroGen

FibroGen's CFO Juan Graham, Planned Departure Date Is December 15, 2024

FibroGen Initiated Restructuring Plan Following Negative Pamrevlumab Trial Data; Plan Includes 75% U.S. Workforce Reduction Affecting 127 Employees

FibroGen Raises Full Year Net Product Revenue Guidance To $135M-$150M

FibroGen (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FGEN#NASDAQ">FGEN</a>) reported quarterly losses of $(0.16) per share which beat the analyst consensus estimate of $(0.26) by 38.46 percent. This is a 82.22 percent increase over losses of $(0.90) per share from the same period last year. The company reported quarterly sales of $50.641 million which beat the analyst consensus estimate of $34.661 million by 46.11 percent. This is a 14.26 percent increase over sales of $44.319 million the same period last year.

FibroGen Q2 2024 GAAP EPS $(0.16) Beats $(0.26) Estimate, Sales $50.641M Beat $34.661M Estimate

U.S. stocks traded higher toward the end of trading, with the Dow Jones index gaining more than 400 points on Wednesday.
The Dow traded up 1.07% to 41,177.51 while the NASDAQ rose 3.10% to 17,678.79. The S&amp;P 500 also rose, gaining, 2.08% to 5,549.42.
Leading and Lagging Sectors Information technology shares jumped by 4.3% on Wednesday.
In trading on Wednesday, health care shares rose by just 0.1%.
Top Headline Microsoft Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) reported better-than-expected earnings and sales results for its fourth quarter on Tuesday.
Intelligent Cloud segment revenue was $28.5 billion, up 19% year-over-year, while Azure and other cloud services revenue posted year-over-year growth of 29% last quarter.
Equities Trading UP &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<ul>
<li>Powell Industries, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/POWL#NASDAQ">POWL</a>) shares shot up 40% to $186.83 after the company reported better-than-expected Q3 GAAP EPS and sales.</li>
<li>Shares of Modine Manufacturing Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MOD#NYSE">MOD</a>) got a boost, surging 24% to $122.84&nbsp;after the company reported better-than-expected first-quarter financial results.</li>
<li>Fiverr International Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FVRR#NYSE">FVRR</a>) shares were also up, gaining 22% to $26.78 after the company reported better-than-expected second-quarter financial results.</li>
</ul>
Equities Trading DOWN
<ul>
<li>Imunon, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IMNN#NASDAQ">IMNN</a>) shares dropped 61% to $1.31 after the company announced a&nbsp;$10 million&nbsp;registered direct offering of 5 million&nbsp;shares of common stock with unregistered warrants at a price of&nbsp;$2&nbsp;per unit.</li>
<li>Shares of FibroGen, Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FGEN#NASDAQ">FGEN</a>) were down 45% to $0.5640. The company announced topline results from two late-stage trials evaluating the efficacy and safety of pamrevlumab in patients with pancreatic cancer and said its Precision Promise study in metastatic pancreatic cancer did not meet its primary endpoint.</li>
<li>PepGen Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PEPG#NASDAQ">PEPG</a>) was down, falling 35% to $11.05. The company announced clinical data from the first dose cohort of PGN-EDO51.</li>
</ul>
Commodities In commodity news, oil traded up 4.3% to $77.96 while gold traded up 1% at $2,476.40.
Silver traded up 1.5% to $28.945 on Wednesday, while copper rose 2.8% to $4.1965.
Euro zone
European shares were higher today. The eurozone's STOXX 600 rose 0.80%, Germany's DAX rose 0.53% and France's CAC 40 gained 0.76%. Spain's IBEX 35 Index fell 1.23%, while London's FTSE 100 rose 1.13%.
Asia Pacific Markets
Asian markets closed higher on Wednesday, with Japan's Nikkei 225 gaining 1.49%, Hong Kong's Hang Seng Index jumping 2.01% and S&amp;P BSE Sensex gaining 0.35%.
Economics
<ul>
<li>U.S. pending home sales rose by 4.8% from the prior month in June compared to a revised contraction of 1.9%.</li>
<li>U.S. crude oil inventories declined by 3.436 million barrels in the week ended July 26th, above market estimates of a 1.6 million barrel draw.</li>
<li>Private businesses in the U.S. added 122,000 workers to their payrolls in July, versus a revised 155,000 in June.</li>
</ul>
Now Read This:<a href="https://www.benzinga.com/trading-ideas/long-ideas/24/07/40068197/jim-cramer-says-this-home-improvement-chain-is-a-buy-ahead-of-fed-rate-cut-cycle-i-would"> </a>
<ul>
<li><a href="https://www.benzinga.com/trading-ideas/long-ideas/24/07/40068197/jim-cramer-says-this-home-improvement-chain-is-a-buy-ahead-of-fed-rate-cut-cycle-i-would">Jim Cramer Says This Home Improvement Chain Is A Buy Ahead Of Fed Rate Cut Cycle: &#8216;I Would Pick Some Up Tomorrow</a><a href="https://www.benzinga.com/trading-ideas/long-ideas/24/07/40068197/jim-cramer-says-this-home-improvement-chain-is-a-buy-ahead-of-fed-rate-cut-cycle-i-would">&#8216;</a></li>
</ul>

Eurozone

Commodities

Intraday Update

Markets

FVRR

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MSFT

PEPG

POWL

Nasdaq Surges Over 3%; Powell Industries Shares Spike Higher

U.S. stocks traded higher midway through trading, with the Dow Jones index gaining more than 200 points on Wednesday.
The Dow traded up 0.54% to 40,964.19 while the NASDAQ rose 2.53% to 17,581.11. The S&amp;P 500 also rose, gaining, 1.64% to 5,525.69.
Leading and Lagging Sectors Information technology shares rose by 3.5% on Wednesday.
In trading on Wednesday, health care shares fell by 0.1%.
Top Headline The Kraft Heinz Company (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KHC#NASDAQ">KHC</a>) shares gained around 4% on Wednesday after the company reported better-than-expected&nbsp;second-quarter&nbsp;adjusted EPS results.
Equities Trading UP &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<ul>
<li>noco-noco Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NCNC#NASDAQ">NCNC</a>) shares shot up 72% to $0.2638.</li>
<li>Shares of Primech Holdings Ltd &nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PMEC#NASDAQ">PMEC</a>) got a boost, surging 62% to $0.8531 &nbsp;after gaining over&nbsp;5%&nbsp;on Tuesday.</li>
<li>NuZee, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NUZE#NASDAQ">NUZE</a>) shares were also up, gaining 64% to $6.05 after gaining around&nbsp;3%&nbsp;on Tuesday.</li>
</ul>
Equities Trading DOWN
<ul>
<li>Imunon, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IMNN#NASDAQ">IMNN</a>) shares dropped 57% to $1.4301 after the company announced a&nbsp;$10 million&nbsp;registered direct offering of 5 million&nbsp; shares of common stock with unregistered warrants at a price of&nbsp;$2&nbsp;per unit.</li>
<li>Shares of FibroGen, Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FGEN#NASDAQ">FGEN</a>) were down 46% to $0.5534. &nbsp;The company announced topline results from two late-stage trials evaluating the efficacy and safety of pamrevlumab in patients with pancreatic cancer and said its Precision Promise study in metastatic pancreatic cancer did not meet its primary endpoint.</li>
<li>PepGen Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PEPG#NASDAQ">PEPG</a>) was down, falling 44% to $9.54. &nbsp;The company announced clinical data from the first dose cohort of PGN-EDO51.</li>
</ul>
Commodities In commodity news, oil traded up 3.8% to $77.56 while gold traded up 0.7% at $2,468.20.
Silver traded up 1.5% to $28.955 on Wednesday, while copper rose 2.5% to $4.1865.
Euro zone
European shares were higher today. The eurozone's STOXX 600 rose 0.8%, Germany's DAX rose 0.53% and France's CAC 40 gained 0.76%. Spain's IBEX 35 Index fell 1.23%, while London's FTSE 100 rose 1.13%.
Asia Pacific Markets
Asian markets closed higher on Wednesday, with Japan's Nikkei 225 gaining 1.49%, Hong Kong's Hang Seng Index jumping 2.01% and S&amp;P BSE Sensex gaining 0.35%.
Economics
<ul>
<li>U.S. pending home sales rose by 4.8% from the prior month in June compared to a revised contraction of 1.9%.</li>
<li>U.S. crude oil inventories declined by 3.436 million barrels in the week ended July 26th, above market estimates of a 1.6 million barrel draw.</li>
<li>Private businesses in the U.S. added 122,000 workers to their payrolls in July, versus a revised 155,000 in June.</li>
</ul>
Now Read This:<a href="https://www.benzinga.com/trading-ideas/long-ideas/24/07/40068197/jim-cramer-says-this-home-improvement-chain-is-a-buy-ahead-of-fed-rate-cut-cycle-i-would"> </a>
<ul>
<li><a href="https://www.benzinga.com/trading-ideas/long-ideas/24/07/40068197/jim-cramer-says-this-home-improvement-chain-is-a-buy-ahead-of-fed-rate-cut-cycle-i-would">Jim Cramer Says This Home Improvement Chain Is A Buy Ahead Of Fed Rate Cut Cycle: &#8216;I Would Pick Some Up Tomorrow</a><a href="https://www.benzinga.com/trading-ideas/long-ideas/24/07/40068197/jim-cramer-says-this-home-improvement-chain-is-a-buy-ahead-of-fed-rate-cut-cycle-i-would">&#8216;</a></li>
</ul>

NCNC

NUZE

PMEC

Dow Jumps Over 200 Points; Kraft Heinz Shares Gain After Q2 Earnings

FibroGen Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FGEN#NASDAQ">FGEN</a>) saw its share price plummet after the release of topline results from two late-stage trials evaluating the efficacy and safety of pamrevlumab in <a href="https://www.benzinga.com/pressreleases/24/07/g40049878/fibrogen-announces-topline-results-from-two-late-stage-pamrevlumab-pancreatic-cancer-studies-and-p" target="_blank" rel="noreferrer noopener">pancreatic cancer patients</a>.
What Happened: The pamrevlumab arm of the study did not meet the primary endpoint of overall survival.
Based upon the results of the late-stage pamrevlumab trials in pancreatic cancer, the company plans to implement an immediate and significant cost reduction plan in the U.S.
Also Read: <a target="_blank" href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38070160/fibrogen-unveils-early-data-from-prostate-cancer-candidate-analyst-advocates-furthe" rel="noreferrer noopener">FibroGen Unveils Early Data From Prostate Cancer Candidate, Analyst Advocates Further Exploration In The Landscape</a>.
And the pamrevlumab development program will be terminated. 
As a result of the cost reduction plan, headcount in the U.S. will be reduced by approximately 75%.
Median overall survival of 17.3 months was observed in the pamrevlumab combined with gemcitabine + nab-paclitaxel or FOLFIRINOX arm compared to the median overall survival of 17.9 months in the control arm of placebo combined with gemcitabine + nab-paclitaxel or FOLFIRINOX (HR: 1.08)
The preliminary safety analyses across both studies indicate that the safety profile of pamrevlumab combined with gemcitabine + nab-paclitaxel or FOLFIRINOX was generally well tolerated, with an acceptable safety profile.
No clinically meaningful differences in treatment-emergent adverse events were seen between the treatment arms.
William Blair writes, &#8220;We believe investors had exceedingly low expectations for pamrevlumab in pancreatic cancer following several clinical setbacks in both idiopathic pulmonary fibrosis and <a href="https://www.benzinga.com/analyst-ratings/analyst-color/23/08/34109907/three-in-a-row-fibrogens-investigational-drug-flunks-in-another-study-for-rare-dise" target="_blank" rel="noreferrer noopener">Duchenne muscular dystrophy</a>.&#8221;
The analyst notes that investor interest in FibroGen has surged following recent mergers and acquisitions in the antibody-drug conjugates (ADC) sector and the release of competitive topline data.
The primary focus is on FG-3246, an ADC targeting CD46. The company plans to start a Phase 2/3 monotherapy trial later this year, with the Phase 3 portion potentially beginning in the first half of 2027. Notably, FG-3246 is the only clinical pipeline candidate with a possible registrational-enabling study in the near future.
William Blair reiterates <a target="_blank" href="https://www.benzinga.com/quote/FGEN/analyst-ratings" rel="noreferrer noopener">the Market Perform rating</a>.
Price Action: FGEN stock is down 47.9% at 54 cents at last check Wednesday.
Read Next:
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<li><a href="https://www.benzinga.com/news/earnings/24/07/40070046/insurance-giant-humana-stock-tumbles-after-q2-earnings-beat-issues-sub-par-profit-outlook" target="_blank" rel="noreferrer noopener">Insurance Giant Humana Stock Tumbles After Q2 Earnings Beat, Issues Sub Par Profit Outlook</a>.</li>
</ul>

Analyst Color

One Year, Five Trial Failures: FibroGen Terminates Pancreatic Cancer Treatment Program

FibroGen shares are trading lower. The company announced topline results from two late-stage trials evaluating the efficacy and safety of pamrevlumab in patients with pancreatic cancer and said its Precision Promise study in metastatic pancreatic cancer did not meet its primary endpoint.

Shares of Advanced Micro Devices, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>) shares rose sharply in today's pre-market trading following better-than-expected <a href="https://www.benzinga.com/news/earnings/24/07/40060832/amd-skyrockets-over-9-lifting-along-with-ai-rival-nvidia-whats-going-on">second-quarter earnings</a>.
AMD reported quarterly earnings of 69 cents per share which beat the analyst consensus estimate of 68 cents per share. The company reported quarterly sales of $5.835 billion which beat the analyst consensus estimate of $5.724 billion, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>.
AMD shares jumped 9.1% to $151.01 in pre-market trading.
Here are some other stocks moving in pre-market trading.
<h3 class="wp-block-heading">Gainers</h3>
<ul>
<li>Primech Holdings Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PMEC#NASDAQ">PMEC</a>) gained 114.8% to $1.13 in pre-market trading after gaining over 5% on Tuesday.</li>
<li>Heramba Electric plc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PITA#NASDAQ">PITA</a>) shares climbed 92.8% to $8.29 in pre-market trading after dipping around 49% on Tuesday.</li>
<li>NuZee, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NUZE#NASDAQ">NUZE</a>) rose 79.4% to $6.64 in pre-market trading after gaining around 3% on Tuesday.</li>
<li>Telesis Bio, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TBIO#NASDAQ">TBIO</a>) gained 39.8% to $5.52 in pre-market trading.</li>
<li>Faraday Future Intelligent Electric Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FFIE#NASDAQ">FFIE</a>) shares gained 33.1% to $0.4205 in pre-market trading after the company regained Nasdaq compliance.</li>
<li>Powell Industries, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/POWL#NASDAQ">POWL</a>) gained 25.3% to $167.02 in pre-market trading after posting better-than-expected third-quarter results.</li>
<li>BIMI Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BIMI#NASDAQ">BIMI</a>) shares gained 22.8% to $0.48 in pre-market trading after dipping 66% on Tuesday.      </li>
<li>DallasNews Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DALN#NASDAQ">DALN</a>) shares gained 19.1% to $3.91 in pre-market trading after the company reported a year-over-year increase in second-quarter financial results.</li>
<li>Vistra Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VST#NYSE">VST</a>) gained 12.1% to $77.35 in pre-market trading after the company announced that the Nuclear Regulatory Commission has approved its request to extend the operation of Comanche Peak Nuclear Power Plant through 2053.</li>
</ul>
<h3 class="wp-block-heading">Losers</h3>
<ul>
<li>FibroGen, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FGEN#NASDAQ">FGEN</a>) shares fell 40.2% to $0.6159 in pre-market trading. The company announced topline results from two late-stage trials evaluating the efficacy and safety of pamrevlumab in patients with pancreatic cancer and said its Precision Promise study in metastatic pancreatic cancer did not meet its primary endpoint.</li>
<li>MacroGenics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MGNX#NASDAQ">MGNX</a>) shares declined 24% to $3.99 in pre-market trading. The company announced a presentation of clinical data from the TAMARACK Phase 2 study of vobramitamab duocarmazine at the upcoming European Society for Medical Oncology Congress 2024.</li>
<li>Jet.AI Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/JTAI#NASDAQ">JTAI</a>) fell 21.5% to $0.2631 in pre-market trading. Jet.AI announced expiration and successful results of exchange offer and consent solicitation relating to warrants.</li>
<li>Velo3D, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VLD#NYSE">VLD</a>) shares fell 20.6% to $2.20 in pre-market trading after declining 4% on Tuesday.</li>
<li>Penumbra, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PEN#NYSE">PEN</a>) shares fell 20.3% to $137.93 in pre-market trading after the company reported second-quarter financial results and cut its FY24 revenue guidance below estimates.</li>
<li>Groupon, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GRPN#NASDAQ">GRPN</a>) shares declined 18.6% to $12.75 in pre-market trading following a second-quarter EPS miss.</li>
<li>Definitive Healthcare Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DH#NASDAQ">DH</a>) shares fell 17.6% to $4.71 in pre-market trading. Needham analyst Ryan MacDonald reiterated Definitive Healthcare with a Hold.</li>
<li>O-I Glass, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OI#NYSE">OI</a>) fell 15.5% to $9.80 in pre-market trading after the company lowered its FY24 guidance.</li>
<li>Lemonade, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LMND#NYSE">LMND</a>) shares dipped 14.6% to $19.33 in pre-market trading following quarterly results.</li>
<li>Tivic Health Systems, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TIVC#NASDAQ">TIVC</a>) shares fell 12.4% to $0.5056 in pre-market trading after dipping 18% on Tuesday.</li>
</ul>
Now Read This: 
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</ul>

BIMI

DALN

FFIE

JTAI

LMND

MGNX

PITA

TBIO

TIVC

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Opinion

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Pancreatic Cancer on the Rise: How Biotech Firms are Developing Groundbreaking Treatments

FibroGen to Host Part II of Virtual KOL Investor Event Series to Review FG-3246 Development Program in Metastatic Castration-Resistant Prostate Cancer on June 26, 2024

FibroGen Announces Topline Results from Two Late-Stage Pamrevlumab Pancreatic Cancer Studies and Provides Corporate Update

FibroGen to Report Second Quarter 2024 Financial Results

FibroGen Reports Second Quarter 2024 Financial Results and Provides Business Update

FibroGen to Present at the H.C. Wainwright 26th Annual Global Investment Conference

FibroGen to Report Third Quarter 2024 Financial Results

FibroGen Reports Third Quarter 2024 Financial Results

FibroGen Appoints David DeLucia as Chief Financial Officer

Contracts

FibroGen Announces the Sale of FibroGen China to AstraZeneca for Approximately $160 Million

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