Why FibroGen Inc Skyrocketed Higher Today
FibroGen (NASDAQ: FGEN) is up nearly 50% at 1:10 p.m. Tuesday after releasing positive data from its phase 2 trial testing pamrevlumab in patients with a lung disease called idiopathic pulmonary fibrosis (IPF).
To see how well the drug was working, the trial used forced vital capacity (FVC), a pretty standard measurement for lung function. How much air the patient is able to blow out of their lungs -- the FVC -- is then compared to what would be predicted for the patient's age to get the FVC percent predicted.
Patients taking pamrevlumab saw their FVC drop by 2.85 points over the 48 week treatment compared to a decline of 7.17 points in the patients who took a placebo. Measured in volume, that's a 129 ml decline for patients taking pamrevlumab versus a 308 ml decline for those that got placebo. Pamrevlumab isn't a cure for IPF, but it's clearly slowing the decline of the disease.
Source: Fool.com
