)
Edge28 Nov 2025
Keeping the Streak Alive: The Story of Duolingo
How Duolingo made language learning addictive, scaled to millions of users, and built a powerful subscription business around everyday practice.
FibroGen (FGEN) investor relations material
FibroGen Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2025 earnings summary10 Nov, 2025
Executive summary
Completed the sale of China operations to AstraZeneca for $220–$220.4 million, including $85 million enterprise value and $135–$135.4 million net cash, closing on August 29, 2025, and extending the cash runway into 2028.
Proceeds used to repay $75–$80.9 million senior term loan to Morgan Stanley Tactical Value, simplifying the capital structure.
Advanced FG-3246 (CD46-targeted ADC) and companion diagnostic FG-3180 in metastatic castration-resistant prostate cancer, initiating Phase 2 monotherapy trial in Q3 2025.
Progressed Roxadustat for anemia in lower-risk myelodysplastic syndromes (MDS), with positive FDA Type C meeting and Phase 3 protocol submission planned for Q4 2025.
Retained rights to Roxadustat in the U.S., Canada, Mexico, and other non-AstraZeneca/Astellas markets; Astellas continues commercialization in Europe and Japan.
Financial highlights
Q3 2025 total revenue from continuing operations was $1.1 million, up from $0.1 million in Q3 2024.
Net loss from continuing operations was $13.1 million ($3.25 per share), improved from $48.3 million ($12.01 per share) in Q3 2024.
Net income for Q3 2025 was $200.6 million, driven by $213.8 million income from discontinued operations (China divestiture), including a $52.2 million gain on divestiture.
Cash, cash equivalents, investments, and accounts receivable totaled $121.1 million as of September 30, 2025.
Full-year 2025 revenue guidance reiterated at $6–8 million; operating costs and expenses guidance updated to $50–60 million, a 70% reduction from 2024.
Outlook and guidance
Cash and equivalents expected to fund operations into 2028, not including costs for a self-funded Roxadustat Phase 3 trial; if self-funded, runway could extend into the second half of 2027.
Interim results from FG-3246 Phase 2 monotherapy trial expected in the second half of 2026; topline results from the combination study with enzalutamide anticipated in Q1 2026.
Roxadustat Phase 3 protocol submission planned for Q4 2025; decision on self-funding or partnering expected by Q2 2026.
Focus on advancing FG-3246 in mCRPC and progressing Roxadustat Phase 3 in lower-risk MDS; evaluating partnership opportunities.
Anticipates continued operating losses and need for additional funding for ongoing R&D and commercialization efforts.
Roxadustat LR-MDS partnership drivers?
FG-3180 impact on FG-3246 patient selection?
Post-China sale investment priorities?
Roxadustat Phase III funding strategy
FG-3246 IST data success criteria
FG-3246 Phase II design efficacy improvements
Partial view of Summaries dataset, powered by Quartr API
Research faster. Power your platform.
Next FibroGen earnings date
Q4 202523 Feb, 2026
The essential earnings season companion
The #1 app for qualitative research. Live earnings calls, AI chat, transcripts, and more. All for free.
Live calls and transcripts
Listen to earnings calls, CMDs, investor conferences, and more – with a podcast-like experience.
Find what you need faster
Search for any keyword across all transcripts simultaneously.
Easily store key findings
Capturing important takeaways is as simple as it gets. Even during your lunch run or commute.
Your watchlist. Your dashboard.
Follow the companies that matter to you. Get a personalized feed with real-time updates.
Be the first to know
Set keyword alerts for any company, product, or competitor. Get notified the moment they're mentioned.
Consensus estimates
Access analyst consensus estimates, valuation multiples, and revenue segments splits.
All IR material in one place
The easiest way to stay updated during earnings season.
Global coverage
All events from public companies. Live and recorded.
Just click and listen
No webcast links. No manual registrations.
excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
)
Leroy DaleyApp Store
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
)
Eferix Drawings Google Play
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
anuj283App Store
excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
Leroy DaleyApp Store
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
Eferix Drawings Google Play
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
anuj283App Store
I can't remember the last time an app had such a positive impact on my investment process.
)
@ankurshah47_ x.com
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
Amina0781App Store
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
@theshortbearx.com
I can't remember the last time an app had such a positive impact on my investment process.
@ankurshah47_ x.com
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
Amina0781App Store
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
@theshortbearx.com
)
)
Frequently asked questions
FibroGen Inc. is a biopharmaceutical company focused on the discovery, development, and commercialization of therapies for serious unmet medical needs, particularly in areas like fibrosis, oncology, and anemia. The company’s lead products target conditions such as chronic kidney disease-related anemia and idiopathic pulmonary fibrosis. The company is headquartered in San Francisco, California, and its shares are listed on the NASDAQ.
Quartr provides global coverage of all investor relation material from public companies.
Mobile app: Research anytime, anywhere with the #1 app for live earnings calls, transcripts, analyst estimates, and more. All for free.
Desktop (Quartr Pro): The leading platform for qualitative research, used daily by top firms and financial institutions.
Quartr API: Build custom solutions powered by live earnings calls, live transcripts, filings and reports, slide presentations, and more.
Yes, the Quartr mobile app is free on both iOS and Android.
Yes. Quartr provides global, industry-leading live coverage of company events such as regular earnings calls, capital markets days, M&A announcements, and investor conferences. Live with zero delays. Just click and listen.
Yes, capturing important takeaways is as simple as it gets. Even during your lunch run or commute.
Yes. Follow the companies that matter to you. Get a personalized feed with real-time updates, a tailored earnings calendar, and instant alerts when earnings calls go live.
Yes. Set keyword alerts for any company, product, or competitor. Get notified the moment they're mentioned, regardless of who's talking.
Explore our global coverage