FibroGen Stock: Berger Montague Investigates Potential Securities Fraud Claims Against FibroGen, Inc. (FGEN); Lead Plaintiff Deadline is June 11, 2021

Philadelphia, Pennsylvania--(Newsfile Corp. - May 22, 2021) - Berger Montague is investigating potential securities fraud claims against FibroGen, Inc. ("FibroGen" or the "Company"). The Firm is investigating these claims on behalf of FibroGen investors who purchased securities (NASDAQ: FGEN) between October 18, 2017 and April 6, 2021 (the "Class Period").

If you purchased FibroGen securities, would like to discuss Berger Montague's investigation, or have questions concerning your rights or interests, please contact attorneys Andrew Abramowitz at aabramowitz@bm.net or (215) 875-3015, or Donnell Much at dmuch@bm.net or (215) 875-4667, or contact us at www.bergermontague.com/fibrogen.

Whistleblowers: Persons with non-public information regarding FibroGen are encouraged to confidentially assist Berger Montague's investigation or take advantage of the SEC Whistleblower program. Under this program, whistleblowers who provide original information may receive rewards totaling up to thirty percent (30%) of recoveries obtained by the SEC. For more information, contact us.

FibroGen, a biopharmaceutical company headquartered in San Francisco, is developing roxadustat as a treatment for anemia in patients with chronic kidney disease ("CKD"). The investigation is focused on FibroGen's presentation of false data regarding roxadustat to make the anemia drug look safer than it is.

In recent quarters, the Company has touted the prospects of roxadustat, specifically its purported heart safety, which is a key selling point for the drug because other therapies, such as erythropoietin ("EPO") injectable therapies, cannot be prescribed to certain patients at risk of major cardiac events. To support this market advantage, FibroGen presented data from phase 3 trials which purportedly showed that roxadustat was safer than EPO in incident dialysis patients, among other at-risk populations.

However, on April 6, 2021, after the market closed, the Company issued a press release in which it admitted to altering stratification factors in order to make roxadustat's hazard ratios indicate lower risk relative to EPO. As a result of the data manipulation, FibroGen CEO Enrique Conterno admitted that the Company could no longer claim that its drug was safer than EPO in incident dialysis patients.

On this stunning revelation, shares of FibroGen plummeted $14.90 per share - more than 43% - in one trading day, from a closing price of $34.64 on April 6, 2021 to a closing price of $19.74 on April 7, 2021.

Berger Montague, with offices in Philadelphia, Minneapolis, Washington, D.C., and San Diego, has been a pioneer in securities class action litigation since its founding in 1970. Berger Montague has represented individual and institutional investors for over five decades and serves as lead counsel in courts throughout the United States.

Contacts

Andrew Abramowitz, Senior Counsel
Berger Montague
(215) 875-3015
aabramowitz@bm.net
Donnell Much, Associate
Berger Montague
(215) 875-4667
dmuch@bm.net

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/84835