(Reuters) – FibroGen said on Monday its experimental drug, pamrevlumab, for treating lung disease idiopathic pulmonary fibrosis (IPF) did not meet its main goal in a late-stage study.
Based on the results from the study, the company said it would discontinue a second late-stage trial on the drug, adding that it plans to implement a “significant cost reduction effort” in the U.S. to extend its cash runway into 2026.
IPF is a chronic lung disease, which is characterized by a progressive and irreversible decline in lung function.
(Reporting by Raghav Mahobe in Bengaluru; Editing by Shinjini Ganguli)
