Who Owns FibroGen Company?

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Who Owns FibroGen?

Understanding a company's ownership is key to grasping its direction and accountability. Major events like IPOs or leadership changes can significantly alter this structure. FibroGen, Inc., established in 1993 in San Francisco, California, aimed to develop treatments for conditions like chronic kidney disease anemia and myelodysplastic syndromes anemia.

FibroGen's current focus includes hypoxia-inducible factor (HIF) biology, with roxadustat as a primary asset, and a pipeline featuring pamrevlumab for fibrosis. The company's stock experienced a notable decline, falling from $28.00 per share on July 29, 2024, to $7.46 per share as of July 25, 2025, a decrease of 73.36%.

The ownership of FibroGen is distributed among various shareholders, reflecting its status as a publicly traded entity. Institutional investors hold a significant portion of the company's stock, indicating substantial backing from investment firms and funds. Individual investors also contribute to the ownership base, alongside company insiders such as executives and directors who may possess direct stakes. The evolution of its ownership structure is intrinsically linked to its financial performance and strategic decisions, including the development and commercialization of products like FibroGen BCG Matrix.

FibroGen, Inc. was founded in 1993 in San Francisco, California, by a team including Thomas B. Neff, Ph.D., Katerina M. Politi, Ph.D., Michael E. Dorsey, and David R. Brown. Thomas B. Neff, who served as Chairman and CEO for 26 years, was instrumental in guiding the company's early trajectory.

Founding Year and Location

FibroGen, Inc. was established in 1993. The company's initial operations were based in San Francisco, California.

Key Founders

The founding team comprised Thomas B. Neff, Ph.D., Katerina M. Politi, Ph.D., Michael E. Dorsey, and David R. Brown. Dr. Neff played a significant leadership role for over two decades.

Early Funding

In its nascent stages, FibroGen successfully raised $12 million in seed funding. This capital came from notable venture capital firms, including Kleiner Perkins Caufield & Byers and Institutional Venture Partners.

Scientific Focus

The early funding supported the company's research into hypoxia-related therapies. A key development was the discovery of HIF (Hypoxia-Inducible Factor) biology in 1997.

Founder Equity Details

Specific details regarding the initial equity distribution or shareholdings among the founders are not publicly disclosed in available information.

Leadership Tenure

Thomas B. Neff, one of the co-founders, held the positions of Chairman and CEO for a substantial period of 26 years. His long tenure significantly influenced the company's strategic direction.

The early capital infusion was critical for establishing the company's foundational research, particularly in understanding hypoxia and its implications for therapeutic development. This period laid the groundwork for future advancements, including the exploration of HIF biology, which became a central theme in the company's scientific endeavors. The strategic decisions made during these formative years, influenced by leadership like Thomas B. Neff, were pivotal in shaping the company's long-term vision and its approach to drug discovery, as further detailed in discussions about the Marketing Strategy of FibroGen.

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FibroGen, Inc. became a publicly traded entity on November 14, 2014, with an initial offering price of $18.00 per share. This event marked a significant shift in its ownership structure, transitioning from private to public hands.

As of July 25, 2025, the landscape of FibroGen ownership reveals a strong presence of institutional investors, who collectively hold 72.71% of the company's stock. Among these, Armistice Capital LLC stands out with an 8.41% stake as of March 30, 2025. Following closely are The Vanguard Group, Inc. at 5.80%, Acadian Asset Management LLC with 3.87%, and Primecap Management Co. CA holding 3.70%, all as of the same date. BlackRock, Inc. also maintains a notable position with 2.35% ownership as of March 30, 2025. The insider ownership, comprising executives and directors, remained stable at 1.38% in May 2025, consistent with its December 2024 figure. Mutual funds saw a slight decrease in their holdings, moving from 15.79% in April 2025 to 15.63% in May 2025. A significant individual shareholder is Astellas Pharma Inc., which possesses 4.97 million shares, representing a substantial 122.93% of the company's outstanding shares based on the latest available data. Understanding these FibroGen shareholders is key to grasping the company's overall structure and potential strategic directions, especially when considering the Competitors Landscape of FibroGen.

Key Ownership Insights

Institutional investors are the dominant force in FibroGen's stock ownership. Astellas Pharma Inc. holds the largest individual stake, indicating a significant influence.

• Institutional investors own 72.71% of FibroGen as of July 25, 2025.
• Astellas Pharma Inc. holds 4.97 million shares, representing 122.93% of the company.
• Insider ownership remained steady at 1.38% in May 2025.
• Mutual fund holdings saw a minor reduction from April to May 2025.

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The leadership at FibroGen includes CEO Thane Wettig, CFO David DeLucia, and SVP of China Operations Christine L. Chung. The Board of Directors is chaired by James A. Schoeneck, with independent directors like Jeffrey L. Edwards and Dr. Maykin Ho. Michael Kauffman joined the board in June 2025.

Voting power at FibroGen is structured by its common stock classes. For matters where Class A and Class B Common Stock vote together, Class A shares hold one-tenth of a vote, while Class B shares have a full vote. However, when voting separately, such as for director elections, both Class A and Class B shares each carry one vote. In the June 2025 annual meeting, Jeffrey L. Edwards was re-elected as a Class II director, and stockholders approved a reverse stock split to meet Nasdaq requirements, alongside ratifying the appointment of PricewaterhouseCoopers LLP for the 2025 fiscal year.

Understanding FibroGen's Shareholder Structure

FibroGen's voting rights are differentiated between its Class A and Class B common stock. This structure influences how major decisions are made and who holds significant sway in the company's direction. Understanding this breakdown is key to grasping FibroGen ownership.

• Class A shares have one-tenth of a vote when voting with Class B.
• Class B shares have one full vote when voting with Class A.
• For separate voting matters, both classes have one vote per share.
• Director elections are a key area where separate voting applies.
• This structure impacts overall FibroGen stock ownership dynamics.

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Recent strategic moves by FibroGen aim to bolster its financial position and streamline operations. The company announced the sale of its China operations to AstraZeneca for approximately $160 million, a deal expected to finalize by mid-2025. This transaction is projected to extend FibroGen's cash runway into 2027 and will facilitate the repayment of a term loan, simplifying its capital structure.

Further internal adjustments include cost-reduction measures within the U.S. operations. As part of this strategy, key executive departures were announced: Chief Financial Officer Juan Graham is set to leave on December 15, 2024, and Chief Medical Officer Deyaa Adib, M.D., on November 1, 2024. To enhance its stock performance and meet Nasdaq's minimum bid price requirements, FibroGen executed a 1-for-25 reverse stock split, effective June 16, 2025, with trading on a split-adjusted basis commencing June 17, 2025.

Strategic Divestiture for Financial Health

The sale of FibroGen China to AstraZeneca for approximately $160 million is a significant step. This move is anticipated to extend the company's cash runway into 2027, providing greater financial stability.

Operational Streamlining and Executive Changes

FibroGen is implementing cost-reduction initiatives in its U.S. operations. These efforts include executive departures, signaling a focus on efficiency and a leaner organizational structure.

Stock Performance Enhancement Measures

A 1-for-25 reverse stock split was enacted in June 2025. This action aims to increase the stock price and ensure compliance with Nasdaq's minimum bid price rules.

Retained Rights and Future Focus

Despite the sale of its China operations, FibroGen retains crucial rights to roxadustat in the U.S. and other specified markets, indicating a continued strategic interest in key territories.

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