FibroGen(FGEN) - 2025 Q3 - Quarterly Results

Financial Performance - Total revenue from continuing operations for Q3 2025 was $1.1 million, compared to $0.1 million in Q3 2024, representing a 1000% increase[15] - Net loss from continuing operations for Q3 2025 was $13.1 million, or $3.25 loss per share, compared to a loss of $48.3 million, or $12.01 loss per share, one year ago[15] - Total revenue for the three months ended September 2025 was $1,076,000, compared to $123,000 for the same period in 2024, representing a significant increase[19] - The net income for the three months ended September 2025 was $200,636,000, compared to a net loss of $17,084,000 in the same period of 2024[19] - Loss from continuing operations per share for the three months ended September 2025 was $(3.25), compared to $(12.01) in 2024[19] - Income from discontinued operations per share for the three months ended September 2025 was $52.86, up from $7.76 in 2024[19] Cash and Assets - Cash, cash equivalents, accounts receivable, and investments totaled $121.1 million as of September 30, 2025, providing a cash runway into 2028[15] - Total current assets as of September 30, 2025, were $133.4 million, down from $196.5 million at the end of 2024[18] Liabilities - Total liabilities as of September 30, 2025, were $119.5 million, a significant decrease from $398.2 million at the end of 2024[18] Research and Development - The company initiated the Phase 2 monotherapy trial of FG-3246, targeting metastatic castration-resistant prostate cancer, with interim results expected in the second half of 2026[3] - FibroGen is on track to submit the Phase 3 protocol for roxadustat for the treatment of anemia in patients with lower-risk myelodysplastic syndromes in Q4 2025[5] - Topline results from the investigator-sponsored study of FG-3246 in combination with enzalutamide are expected to be presented at a medical conference in Q1 2026[6] Expenses - Research and development expenses for the three months ended September 2025 were $1,209,000, a decrease from $19,974,000 in the same period of 2024[19] - Selling, general and administrative expenses for the three months ended September 2025 were $5,295,000, down from $9,362,000 in 2024[19] - Total operating costs and expenses for the three months ended September 2025 were $6,487,000, compared to $47,815,000 in 2024[19] - Loss from operations for the three months ended September 2025 was $(5,411,000), a decrease from $(47,692,000) in 2024[19] Business Transactions - The sale of FibroGen China to AstraZeneca was completed for approximately $220 million, consisting of $85 million in enterprise value and $135 million in net cash held in China[6] - The company maintains rights to roxadustat in the U.S. and all markets outside of China, South Korea, and those licensed to Astellas[7]