FibroGen, Inc. Announces 1-for-25 Reverse Stock Split Effective June 16, 2025

FibroGen announced a 1-for-25 reverse stock split effective June 16, 2025, to increase stock price compliance on Nasdaq.

Quiver AI Summary

FibroGen, Inc. announced a 1-for-25 reverse stock split of its common stock, effective at 5:00 p.m. Eastern Time on June 16, 2025. This move, which was approved by stockholders at the annual meeting on June 4, aims to increase the stock's per-share market price to comply with Nasdaq listing requirements. Following the split, the number of outstanding shares will decrease from approximately 101.1 million to about 4.0 million. No fractional shares will be issued; instead, shareholders entitled to a fractional share will receive a cash payment. The shares will trade on a split-adjusted basis starting June 17, using the same trading symbol “FGEN.” Further details are available in the company's proxy statement and on its investor relations website.

Potential Positives

• The implementation of a 1-for-25 reverse stock split aims to increase the per-share market price of FibroGen’s common stock, helping the company regain compliance with Nasdaq's minimum bid price requirement.
• The reverse stock split reduces the number of outstanding shares from approximately 101.1 million to around 4.0 million, potentially enhancing the stock's perceived value.
• The reverse stock split has been approved by stockholders, demonstrating support for the company’s strategy from its investor base.
• FibroGen continues to advance its promising pipeline, with Roxadustat already approved in multiple regions and new developments in treatment for metastatic castration-resistant prostate cancer.

Potential Negatives

• The implementation of a 1-for-25 reverse stock split indicates that FibroGen is struggling to maintain its stock price above the minimum bid price requirement for continued listing on the Nasdaq Global Select Market, which may signal financial instability to investors.
• The reduction of outstanding shares from approximately 101.1 million to 4.0 million may lead to decreased liquidity in the stock, potentially making it harder for investors to buy or sell shares without affecting the stock price significantly.
• The need for a reverse stock split raises concerns about investor confidence and market perception, as such actions are typically viewed as a last resort by companies facing declining stock prices.

FAQ

What is the date of FibroGen's reverse stock split?

FibroGen's reverse stock split will be effective at 5:00 p.m. Eastern Time on June 16, 2025.

What will happen to my shares after the reverse stock split?

Every 25 shares of common stock will automatically combine into one share, reducing the total shares to approximately 4.0 million.

How will the reverse stock split affect stockholders?

Stockholders will see their share count reduced, and those entitled to fractional shares will receive cash payments instead.

When will trading begin on a split-adjusted basis?

Trading of FibroGen's shares on a split-adjusted basis will start on June 17, 2025, when markets open.

Who is handling the reverse stock split for FibroGen?

Equiniti Trust Company, LLC is the exchange agent and transfer agent for the reverse stock split.

Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.

$FGEN Insider Trading Activity

$FGEN insiders have traded $FGEN stock on the open market 3 times in the past 6 months. Of those trades, 3 have been purchases and 0 have been sales.

Here’s a breakdown of recent trading of $FGEN stock by insiders over the last 6 months:

• JAMES A SCHOENECK has made 2 purchases buying 300,000 shares for an estimated $105,040 and 0 sales.
• THANE WETTIG (CEO) purchased 145,000 shares for an estimated $50,663

To track insider transactions, check out Quiver Quantitative's insider trading dashboard.

$FGEN Hedge Fund Activity

We have seen 18 institutional investors add shares of $FGEN stock to their portfolio, and 49 decrease their positions in their most recent quarter.

Here are some of the largest recent moves:

• 683 CAPITAL MANAGEMENT, LLC removed 2,138,402 shares (-100.0%) from their portfolio in Q1 2025, for an estimated $662,690
• JACOBS LEVY EQUITY MANAGEMENT, INC removed 2,108,544 shares (-100.0%) from their portfolio in Q4 2024, for an estimated $1,116,474
• ARMISTICE CAPITAL, LLC added 1,700,000 shares (+25.0%) to their portfolio in Q1 2025, for an estimated $526,830
• GSA CAPITAL PARTNERS LLP removed 1,095,866 shares (-100.0%) from their portfolio in Q4 2024, for an estimated $580,261
• MARSHALL WACE, LLP added 947,046 shares (+74.8%) to their portfolio in Q1 2025, for an estimated $293,489
• RENAISSANCE TECHNOLOGIES LLC removed 877,447 shares (-64.6%) from their portfolio in Q1 2025, for an estimated $271,920
• PRIMECAP MANAGEMENT CO/CA/ removed 875,310 shares (-19.0%) from their portfolio in Q1 2025, for an estimated $271,258

To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.

Full Release

SAN FRANCISCO, June 12, 2025 (GLOBE NEWSWIRE) -- FibroGen, Inc. (NASDAQ: FGEN) today announced that it will implement a 1-for-25 reverse stock split of its issued and outstanding common stock ("Reverse Stock Split"), effective at 5:00 p.m. Eastern Time on June 16, 2025. FibroGen’s common stock will begin trading on a split-adjusted basis on June 17, 2025, when the markets open, under the Company’s existing trading symbol “FGEN,” with the new CUSIP number 31572Q881.

The Reverse Stock Split was previously approved by stockholders at the Company’s annual meeting of stockholders held on June 4, 2025 (“2025 Annual Meeting”), with the final ratio determined by the Company’s Board of Directors. One of the primary goals of the Reverse Stock Split is to increase the per-share market price of FibroGen’s common stock to regain compliance with the minimum bid price requirement for continued listing on the Nasdaq Global Select Market (Nasdaq Listing Rule 5450(a)(1)).

At the effective time of the Reverse Stock Split, every 25 shares of the Company’s issued and outstanding common stock will automatically be reclassified and combined into one share of the Company’s common stock. This will reduce the number of issued and outstanding shares of common stock from approximately 101.1 million shares to approximately 4.0 million shares. Proportionate adjustments will be made to the number of shares available for issuance under the Company’s equity incentive plans as well as outstanding equity awards, in accordance with their respective terms and as described in the Company's definitive proxy statement for the 2025 Annual Meeting (the "Proxy Statement").   No fractional shares will be issued as a result of the Reverse Stock Split. Stockholders who would otherwise be entitled to a fractional share will instead receive a cash payment in lieu of such fractional share.

Equiniti Trust Company, LLC is acting as the exchange agent and transfer agent for the Reverse Stock Split. Stockholders holding their shares electronically are not required to take any action to receive post-split shares. Stockholders owning shares through a bank, broker or other nominee will have their positions adjusted to reflect the Reverse Stock Split and will receive payment for any fractional shares in accordance with their respective bank's, broker's, or nominee's particular processes. Additional information about the Reverse Stock Split can be found in the Proxy Statement and on the Company’s Investor Relations website at

https://investor.fibrogen.com

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About FibroGen



FibroGen, Inc. is a biopharmaceutical company focused on development of novel therapies at the frontiers of cancer biology and anemia. Roxadustat (爱瑞卓®, EVRENZO™) is currently approved in China, Europe, Japan, and numerous other countries for the treatment of anemia in chronic kidney disease (CKD) patients on dialysis and not on dialysis. The Company continues to evaluate a development plan for roxadustat in anemia associated with lower-risk myelodysplastic syndrome (LR-MDS) in the U.S. FG-3246 (also known as FOR46), a first-in-class antibody-drug conjugate (ADC) targeting CD46 is in development for the treatment of metastatic castration-resistant prostate cancer. This program also includes the development of FG-3180, an associated CD46-targeted PET biomarker. For more information, please visit

www.fibrogen.com

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For Investor Inquiries:



David DeLucia, CFA


Senior Vice President and Chief Financial Officer


ir@fibrogen.com

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.