Why FibroGen's Stock Is Getting Hammered Today

FibroGen, Inc. FGEN shares are trading lower after an FDA Advisory Committee panel voted against approval of the company's New Drug Application for roxadustat to treat anemia due to chronic kidney disease in adult patients.

'While we are disappointed with today's outcome,' said CEO Enrique Conterno, 'we believe the scientific evidence supports roxadustat approval in the U.S. and will work with the FDA as it completes its review of the New Drug Application for roxadustat.'

FibroGen, Inc. is a biopharmaceutical company committed to discovering, developing, and commercializing a pipeline of first-in-class therapeutics. 

FibroGen's stock was trading about 45.4% lower at $13.58 per share on Friday. The stock has a 52-week high of $57.21 and set a new 52-week low of $13.25.