Jun. 13 at 10:11 PM
$FGEN
SEC filing terminating “HiFiBiO drug agreement from June 2021” (FG-3165 and FG-3175) - this is another example of 2 facts:
1) FGEN continues cleaning-house, dumping debt and unnecessary research obligation expenses. This June 2021 agreement cost FGEN
$25 million dollars up-front at the time… plus ongoing R&D cost obligation. Now, in terminating it, FGEN will get a “Royalty %” if it’s ever developed elsewhere, and can stop hemorrhaging cash for R&D on these 2 drugs starting today.
2) Second fact, which you guys still don’t want to see… this current CEO had nothing to do with this prior poor decision… he is just cleaning up messes, one after another. Again.
I believe this termination is actually great! This only leaves Fortis Drug . (ROX is another story on hold).
If China Sale is approved, FGEN will have Cash and little expense… then it will be time to liquidate, but not today.
