Biotech Values

[mcbio]

FGEN

My one gripe with FGEN is they've moved extremely slow in IPF and while I think they don't need to partner this I wonder if someone could help speed this up.

Might even be a bit of an understatement as they commenced a Phase 1 in IPF with FG-3019 all the way back in 2003 (!): http://investor.fibrogen.com/phoenix.zhtml?c=253783&p=irol-newsArticle&ID=1984328 . I don't understand how this could have moved so slow to only be in Phase 2 now. Did they just not have appropriate endpoints to measure way back in that 2003 trial? What happened with development in the interim? I don't know the whole back-story on 3019.

The comments on CTGF that FGEN has made are pretty bold though. I think they claimed in the prior CC that they discovered the role of CTGF and also that it acts as a central mediator of fibrosis. Some of the other comments they have made, such as ability to reverse or at least stabilize fibrosis in some IPF patients and that this possibility has patients choosing 3019 over recently approved IPF drugs in front-line setting for the ongoing P2, seem encouraging. I guess that is offset to some degree on the questions of why it has taken so long to get where they are with 3019. I am long FGEN primarily for roxa but 3019 seems like it could have big potential all on its own but there are certainly questions.