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FibroGen stocks up as drug shown to benefit lung patients

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FibroGen stocks up as drug shown to benefit lung patients

FibroGen Inc. said it would advance the clinical development of pamrevlumab after the drug was shown to benefit idiopathic pulmonary fibrosis patients in phase 2 studies.

Pamrevlumab-treated patients had a significantly lower rate of decline in lung function as compared to the placebo-treated patients. The drug was also well-tolerated as a monotherapy as well as in combination with pirfenidone and nintedanib.

"We believe that the promising outcomes of these studies enable us to advance pamrevlumab into phase 3 clinical development," FibroGen CEO Thomas Neff said in a statement.

FibroGen shares were up 48.20% to $49.50 apiece at market close on Aug. 9.

Pamrevlumab is also being evaluated as a treatment of cancer.