Shares of FibroGen Inc. FGEN were down 5.6% premarket on Wednesday after the company announced disappointing results from a late-stage trial of pamrevlumab in non-ambulatory patients with Duchenne muscular dystrophy. The study did not meet the primary endpoint of upper-limb performance after 52 weeks, the company said, although pamrevlumab was generally safe and well tolerated. “While disappointed with these results, we look forward to sharing the data at a future medical conference to contribute towards the understanding of this devastating disease,” FibroGen CEO Enrique Conterno said in a statement.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.