FGEN - Earnings call transcript Q2 2018

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Operator

Welcome to FibroGen Incorporated Second Quarter 2018 Financial Results Conference Call. My name is Gerald, and I will be your operator for today's call. [Operator Instructions].

For opening remarks and introduction I will now turn the call over to Karen Bergman, Vice President, Investor Relations and Corporate Communications. Karen, you may begin.

Karen Bergman

Daryl. you, Thank everyone. Good afternoon, you for thank call joining And today.

and will the for reporting results be financial corporate first updates We quarter of XXXX.

the Officer; and Cotroneo Chief President Clinical on and Mr. Operations; Dr. Chung, Pat me call Drug Senior Tom China are Joining Vice Kouchakji, Neff; Managing Chief Director Executive Officer. Officer; Safety Dr. Chief Medical Yu, Development, Financial Elias Peony Ms. Christine today Chairman and pharmacovigilant;

the upcoming remarks, prepared with will to milestones and Tom open of our Following the will close call Q&A. discussion

During make business, this financial plans. business statements including activities potential design, our forward-looking our initiation, and results; Astellas; strategies of conduct negative the development we and and clinical our call, certain may regulatory and regarding trials; and results other collaborations our with guidance; our enrollment, AstraZeneca research

the uncertainties filings you our been regarding our factors of as today. over Tom business year current expectations results, our as today's the for at made and the cause investors with webcast call FibroGen's from that, between our And Neff. ended the available your team, information, any and my on beyond weeks then be today, webcast and questions. call for fiscal of to take obligation on Exchange December for Form reporting call developments differences on includes Commission. format the result XX-Q Securities XX, year statement, of update to And with ended report turn our found website. risks to June Copies otherwise. the actual We these can the new be For from today's on future undertake annual XXXX, results our refer and report remarks financial the release open Form of be well our press XX-K XXXX, in control lines may we that whether and statements and will of quarterly website found it's filed a as XX, pleasure Investors has a on management to forward-looking fiscal Section call updated the for can two www.fibrogen.com. The or no will to and FibroGen's section The CEO, we

Thomas Neff

of and X,XXX our new completed forward partners In top Thank you, us. FibroGen joining roxadustat treatment studies designed application indications on Astellas patient to Today, look support by you most U.S. have anemia from EX afternoon, a enrolled are and total in multiple of and development the line XXXX. and dialysis-dependent Clinical patients on U.S. to [Technical like for and Phase update patients AstraZeneca program Difficulty] our treatment all reporting across III pamrevlumab treating thank to all an start sponsored and complete approximately these U.S., disease. roxadustat of and non-dialysis-dependent studies will drug in and has I to recent Good Karen. for late-staged roxadustat fibrosis we the concentrate the we with U.S., before achievement timelines for year-end We CKD studies and Japan. The our patients. the programs all fibroproliferative for results in Europe for going would shortly.

previous for was results III together patient's Drug it's submission Peony of effective on by human efficacy met early study studies. to details and we levels XXXX. primary safety primary NDA consistent study Will endpoint partner followed also efficacy erythropoietin. safety hemoglobin alfa the report and dialysis Japan U.S. the to our maintaining CKD shortly. target of the for in XXXX half recombinant results Mason the for announced met with Administration that Food and and with In are treated Astellas analysis Phase in Roxadustat on roxadustat We provide was endpoint. Japan Astellas Japan, of point on roxadustat in evaluated and This a [for] compared these Dr. darbepoetin roxadustat for with more that EU hemodialysis-dependent in were our first

the Astellas first approval FibroGen regulators in with the the year-end associated quarter made top in anemia of roxadustat CKD studies conducting of Japan the China, for studies in XXXX. for and dialysis-dependent these strides Phase Astellas has in CKD and In dialysis-dependent the later anticipated preparing working program, first NDA non-dialysis-dependent XXXX. submitting fourth in anticipates III two for In results and line China is expects non-dialysis-dependent significant by XXXX. with

review process. you And technical final agency, the year-end that the a advancing we good is are believe still in news been to approval this to with a regulatory has XXXX steadily prior that achievable. decision. are activity We CDE the progressing We share pleased review multi-step to

Managing us supporting We with AstraZeneca strong with world. closely commercialize she more will efforts operational manufacturing China with have in of in whom commercial to provide regulatory XXX employees, Director first is China China. a Chung, today of many updates team free are roxadustat working here on FPHI therapeutic the than in and Christine and the

II with for mediator the targeted We pamrevlumab. the therapy on By which fibrosis, in the LAPC potential center IPF pamrevlumab IPF. Fibrosis. Duchenne inhibiting Phase regarding the into we FDA, and completed to is II of trial. quarter, a In a meetings with Pulmonary on known to our third and Idiopathic GF, we enrollment II Moving into met have meeting dystrophy muscular FDA be have Phase added activity a has Phase in

of pleased generally meeting. the are We with this results

However, any from until defer minutes our we will we comment receive FDA.

positive agreement pamrevlumab to came to for goal from is on IPF pamrevlumab extend the clinical treating received program and cancer been the resectability FDA transform the XXXX, on treatment LAPC. the and and based The In nonresectable surgical design and important We the fact, overall response result, the survival later cancer novel pivotal means provide on call. presented recently candidates. guidance on our overwhelming Dr. potential we advocacy on rate. to of patients accelerating of the groups FDA latest in from this ASCO effective and a Elias generally academic on had physicians, treatment as with pancreatic has met and as patients resection recognized Surgical this our and size the update consideration program. We population. will basis Kouchakji and and resection our more detail of pivotal with at

updates forecast financial the addition, XX, first cash. FibroGen results had in quarter. API quarter-over-quarter for changes year this Difficulty] On at increased an the And full in shipment for XXXX These to discuss cash second like are represents the proceeds side, the sum go program. in grade of the June Dr. $XXX [Technical increase the our due Yu year and turn please This in from to ending commercial later roxadustat in Pat Japan XXXX. will supply Astellas to to ahead. we've Peony, this anemia in call. cash on million for would on for over the I

Peony Yu

Thank you, an exciting the in time development. entering roxadustat Tom. We're

our in let's III So and U.S. To quarter geographies. go X,XXX program. right completion to enrollment begin this over Last the our will of and Europe. program the status with about in clinical talk global we shortly. of the Chris Phase CKD patients announced timeline various in the

studies required We up for Europe. registration U.S. the finishing multiple are in and the now

off of are September, analysis fourth to track visit this patient report to We results pool line XXXX. planned early results adjudicated plan in top report on year. study in we for last MACE the quarter With the

the adverse asked once reported we may individuals done events been been the of have clinical such been lab the and adverse same by reported after have felt data when [Technical events or We reported MACE being the available become Typical Difficulty]. the have performed why will hemoglobin data at or instead time. be as tests

to However, document takes from event requires adjudication event MACE occur. to clinical potential complete the pain the to sufficient consensus order adjudication to and in relevant review [Technical adjudication been additional the reported. Difficulty] sites after where MACE The our process. Supplying documents time even need external process has the come

Lastly, since review, continue has again, III and we DSMB studies. studies our XXXX, most safety received of completion been as this our the recent Phase protocols. final study once current In before to conducting recommendation clinical our per review periodic DSMB September,

We are for MAA and our working the on Astellas of submitting AstraZeneca to with FDA goal U.S. in plus working submission. of preparation NDA diligently with half the XXXX

demonstration the patient. of treatment the was Phase Turning recently maintained for sorry, to well patients, Astellas round III XX.XX To endpoint in hemoglobin randomized per X.XX four observed III per average roxadustat Phase Weeks [Technical deciliter the interval whose treat the study will dummy has been Japan -- per per dialysis study profile patient's previous have grams treatment are noninferiority patients grams X.XX XX receive Difficulty] XX and grams levels of six confidence in Japan reported in NDA to a compare roxadustat EISA. was the six-month efficacy hemoglobin in randomized greater deciliter margin studies. was XX maintain levels prespecified studies deciliter. in of consistent that grams for safety time Then date, deciliter hemoglobin supporting double completed studies per is were noninferiority roxadustat from anemia the to to to Average of The The in X.XX between tolerated am deciliter roxadustat the effectively trial. XX. XXX difference XX XX% or. deciliter. the in were included Japan most registration. CKD with grams this the analysis. to Roxadustat There a one-to-one baseline Japan. erythropoietin primary It and double-blind, weeks lower XX XXX treat level to in versus negative be with was to grams at I met per hemodialysis controlled on minus in negative of X.XX with The study than

to track dialysis-dependent in Japan studies Our XXXX. on anemia NDA associated CKD is the in submit for

beyond Turning to CKD. anemia

anemic like MDS following including II, in related you other MDS to quarter call started For plans study FibroGen, non-transfusion-dependent last into a China already no patient. dependent we dosing anemia roxadustat would began heard back Phase our patients. indication, This those doubt Difficulty] I [Technical III separately anemia. to a of about III to in And have we you oncology Phase in have Tom.

Thomas Neff

Thank our activities sir. will Christine now you, operations provide Chung updates Chris, on who Peony. Heads timing. go please China ahead, and

Christine Chung

to today. call here Thank join you, It's on this my colleagues great Tom.

complete product review have the of regulatory for Drug to Center We experience. Drug prior manufacturing or to and Institute the testing Analytical the sites. in API Inspections, Control be of of the or the CFDI. NIFDC. by Drug trial drug manufactured for Inspection Center during nondialysis clinical have by of way review and and clinical significant following National the China. inspection Beijing Food between On-site the to and product now panel authorization. and NDA material experience Food major activities the market meeting a FibroGen, head our made API Evaluation Final of We drug process on in XXX

With therapy. are AstraZeneca priority clinical leads anemia China these C&C a we're the roxadustat evidence efforts approval our scientific of Under differentiation steps well where with intensifying strong China, the the China Collection efforts the partnership as leads pharmacoeconomic underway. and proposition AstraZeneca, as prepare matters insight in and support regulatory of high of in final reimbursement development AstraZeneca readiness. real-world launch on product to launch in favorable a for of model execution -- market FibroGen target PHI sites. Communicating value well to identification to with

acceleration to FibroGen introduced drugs innovative first-in-class significant access reforms roxadustat. are Chinese favorable care health reimbursement medicines. a of like in sector, the and XXXX, these highly needed right expansion including changes central urgently government novel the to During of

upcoming will to to roxadustat at of unpredictable. the time, in China country signals of again into Based updating we China we progress are Timing approval to first quarters. believe, recognize potentially significance reinforcement next of on on gain the world. be behalf Disease the HIF-PHI course, FibroGen Tom? a of And in the the moment China you XXXX from have our patients. program. forward XXXX in anemia we On treatment of come can anticipate early team government, time. introduce eagerly becoming Thank in opportunity the look planning We, paradigm government's for on your this opportunity the the time to for for new treatment in frame. Chinese you the and into Kidney myself, reimbursement her any We Chronic acceptance

Thomas Neff

cancer Kouchakji you, and recent our Dr. and go pancreatic Chris. please discuss Thank Elias, Elias IPF now pamrevlumab for ahead. developments programs. will

Elias Kouchakji

you, you, thank and everyone. Thank Tom,

D resectable to pancreatic continued quarter pamrevlumab and reported IPF, and efficacy on We intensively with we a positive Phase have plus as measure multiple II [ph] study, include week Questionnaire. and locally fibrosis combination previously the by monotherapy poster development in The clinical data, pulmonary idiopathic In XX the American applied strong and from We which results that positive IPF. initial of advanced in work lung this measured H quality by cancer. fibrosis May. quantitative for George's Society conference XXXX presentation for Thoracic this reported St. Respiratory development pamrevlumab at interesting the justification in of reported provide

with for designed FDA mentioned, the the pamrevlumab IPF. in III on the we met Tom As trial Phase

are We Difficulty]. forward [Technical the to receiving looking FDA

We XXXX. expect to our in commence study

like pamrevlumab as June, of as results ESCO surgical receive cancer. of course at from in PET/CT surgical combination who XX.X% resection in their with chemotherapy using patients and became scan In for and patients X.X% proportion CA successful well of the would for transition alone criteria underwent basis tumor treated their advanced resectability who nab-paclitaxel study, provided higher NCCN and XX.X. presented studies. eligible criteria new for Patients standard this changes of at Then anyone pancreatic respectively. resection were At XX.X% I cancer in a to XX.X%. and were completed Now treatment or I, assessment. who positive the at this criteria to their the for in neoadjuvant treatment we Difficulty] gemcitabine of [Technical from Phase II successfully were evaluated biomarker a locally cyst

subsequently for certain criteria to well is For patients condition whether also patient to results for met after attendees. like occurred. therapy surgery received that I approved individual recession whom ESCO would the by adhere were contributed eligibility there no LAPC. These treatment,

end Similar design Phase If meeting on and pivotal or trial adequacy double-blind of combination resection treatment follow to will one FDA LAPC endpoint pamrevlumab this period, in II get II to we will be arm XXX with agreed result of survival. will the a favoring gemcitabine support the Phase this to six FDA, approval. to and the and the nab-paclitaxel approximately to of study trial resection to patients application higher the months. placebo study overall of the with end to primary continue this The survival. randomized, one patient up overall receive our assess has As pamrevlumab results our under provision the agreed combination the resectability, with marketing for rate at discuss accelerated will for

We clinical needed and are in the XXXX. start early to groundwork this on currently working study design regulatory

for We Duchenne are making dystrophy. good a progress muscular as in evaluating treatment pamrevlumab

Duchenne forward completed function, have adults the men our muscle Phase enrolled mentioned this and and patients II to the return needs. MRI pamrevlumab unmet of trial muscular trial, clinical today measurement into this time look young for your In hope call clinical Thank mutation. dystrophy. and enrollment their you imaging. and pivotal of As providing Tom. for regardless upper Duchenne we previously, treatment of options we for We LAPC advancing Efficacy IPF, back trials with nonambulatory genetic pulmonary include tests in medical will I to DMD

Thomas Neff

ahead. Officer Financial now highlights our Pat, Thank Pat go XXXX. please financial Cotroneo, you, quarter second Chief for Elias. will discuss

Pat Cotroneo

Tom. you, Thank

revenue second for $XX of quarter to compared quarter XXXX, $XX.X the as million, million total today, was the XX, for announced As XXXX. ended June

same net period, operating per million loss expenses $XX.X For million share. $X.XX basic $XX.X and or and the was diluted were

which $X.X result a As portion quarter million Included expenses an of million of to was $XX.X XX, compared net stock-based expense. the the of $XX.X totaling per expense of as totaling expenses which diluted compensation XXXX, compared for million, aggregate a operating an the or an result $XX.X stock-based noncash of noncash portion same loss million and was $XX.X $XX.X was to $X.XX ended compensation year. million, a aggregate for million period share basic prior operating June in of

which at Japan quarter, be QX, revenue XX. agreement the of execution of anticipated the ASC for XXXX. commercial of API anticipate quarter, recognition an accounts drug to under upon recognized roxadustat XXXX. in recorded we revenue the manufacture of in amendment revenue the June the in XXX, million pursuant second was of Astellas adopted second to and the will to product beginning receivables as first in shipment deferred $XX.X guidelines Astellas currently Following the In new this We

from NDA are million recognizing plan, of consideration payment following from Astellas we at a with new also new reporting Under This estimated interpreted revenue later milestone time guidelines. is likelihood. achievement to include is that XX% Japan year. the revenue least are are in connection be in the recognition a for milestone recognition $XX anticipated prior period GAAP to revenue adoption XX% U.S. to first milestone into this guidelines, resubmission milestone required rules termination under achievements We probably, generally revenue of we a become period the milestones recognition, which to

$XXX.X to had end QX compared of of XX, XXXX. at million we XXXX, As the in as million June cash $XXX.X

cash For related these investments, well building refers to from to purposes, and corporate our deposits consisting equivalents, receivables, as total debt time primarily restricted cash as great cash lease.

a projecting data, includes our the million increase previously like sale in noted cash incorporating The the year-end now API to call $XXX from would as in to in of XXXX. to primarily cash like clinical as to the well which last half currently balance savings achieved studies million. over Thank Tom. are you. projected as turn of forecast the due And quarter back We in trial first cost projection range the I of is Astellas we what XXXX to $XXX

Thomas Neff

Thank you, Pat.

staged roxadustat to We are and progress our make continuing excellent pamrevlumab in late programs.

is dialysis roxadustat by XXXX. approval non-dialysis-dependent this Japan, China, track year-end the used patients discuss market XXXX. Looking study roxadustat the on anticipated on and take the decision are roxadustat to developments is I and second a quarter and milestones. upcoming half to In anemia UAE year. The of treatment Starting CKD the to we moment anemia line of and in XXXX, results in reforms roxadustat. targeting dialysis-dependent In like the would with of for fourth and U.S. for in top for

For our from meeting have pamrevlumab our II receiving in and IPF, forward we FDA. we Phase look had minutes to

We XXXX. we advanced over in study it plan pancreatic that, are like cancer, expect Phase to locally proceeding please? In to to I would study back and start question-and-answer III the Phase XXXX. target call study II Karen, Karen the With early turn with for period. start

Karen Bergman

so Thank you much.

open I questions. the lines like for Operator, to would we think, up

Operator

Instructions]. [Operator

Karen Bergman

experiencing technical a problem. We're

fix as can. as soon to we going are We this just

Operator

me? Can you guys hear

Karen Bergman

Okay.

Operator

[Operator Instructions].

Karen Bergman

one Hold Okay. moment. on

Operator

operator, can me? This you hear hear is me? your Can you

Thomas Neff

technical a having the dial call. going FibroGen's to problem. into We're back

Operator

the host stand right. And while ladies and All in. gentlemen, please dials back by

We have Can me? hear our speakers back online. you

Karen Bergman

We Yes. this on apologize everyone, technical Thank the you, difficulty. for line.

to portion. Q&A go the back Let's

Operator

[Operator Instructions]. our question Citibank. Beatty first Joel And comes from from

Joel Beatty

is II phase question pancreatic First the cancer on me? Can design. hear you

Thomas Neff

Yes.

Joel Beatty

us those you Could end a side sense with where regards and the point to being end stand point? FDA and give things potentially approvable of resectability resection with

Thomas Neff

I at think, should Elias, good please. this you answer and

Elias Kouchakji

Yes, sir.

are As they point. resectability of that and look arm. to data you favorable provision to us They to at rate the and a their accelerated approval for take be surrogate pamrevlumab as stated resection are that willing heard their on as the significant with as willing are end

Thomas Neff

you. Thank

Next question please.

Operator

And question Yee our comes Jefferies. next from from Michael

Michael Yee

in describe as data full what how expect enough would the in support on a final is the cancer. hurdle the do ultimately it to other in that?. pan to the that and out pancreatic what resectability significant team Is you resection is survival data guys you question defined Can the discuss? words, understanding order a just follow-up On improvement approval. good need as hurdle? you be And to What to

Thomas Neff

and Elias resectability over to ahead ask on go asked. understanding as me Michael your Let go resection,

Elias Kouchakji

how percentage maintained will that under resectability that the of where should If significant of a and are the provision. in sufficient arm. of reach that view was the result a look both result are the be to result not the resection concerned have is twostudy maintain for the difference specifically you patients. we is II and similar maintain and pamrevlumab study be the significant arm that as looking them That the significant. Phase as of enough we This at between as to designed be Michael, See very them to their this results they significance

Thomas Neff

Next question, please?

Operator

Porges Geoffrey from comes from question next Leerink. our And

Geoffrey Porges

what you immediately think You clarify your addressable? the be I have could XX still of on be a in months full about that China. reimbursement? market period? is of discussed I or in being progress getting anticipate XX reimbursement And over immediately China. it by in possibility would And addressable lot update patient a to pay now after then population the national private approval a on be coverage you in interested province the the made province to comments would path you basis secondly, would

Thomas Neff

market pay dialysis can You for as well go and options reimbursement. size go the market a various Please over the side ahead. understanding with as private

Peony Yu

Sure.

for thank So the question. you

first is market addressable size immediately the So the after what is question approval.

the largest about world. penetration. talk China the question. patients. in in the dialysis will dialysis is XXX,XXX We timing the XX% cohort It's Currently second over patient has There ESA

least have we market We not are to very, competitive. and shown inferior ESA we research believe very in that at early are we in

the ESA So treated we believe population is addressable entire dialysis us. to

immediately term domestic a approval. NDA the of because Class terms start manufacturing we're In X.X after until cannot material commercial we drug,

noway launch the unlike immediate States. NDA the So United is after approval in

do a the national The one, based to depends calls on regard to second entirely participants are are the whether Number rules on discussed. considered second be for yet eligible reimbursement we national for to that factors. question two invite we reimbursement the government provisional whether or opportunity be and reimbursement full to when with

Thomas Neff

you, Chris. Okay. Thank

the next to please. go question Let's

Operator

And Blair. from William our next Andy question Tsai comes from

Andrew Tsai

of independent get is measurement third-party an just a to blinded of one, Number go robustness it I this assessed? want sense or you has Can investigated is the to describe through review? resectability. the Our

Thomas Neff

I study. that. for Elias, the III probably This you think answer Phase should is

Elias Kouchakji

was with will will So was discussed accepted. independent agency their adjudication for in and be still This that there Phase the the II same criteria we using studies. an the Phase be and III we resectability committee criteria used for study

Thomas Neff

please. question, Next

Operator

question And from Mizuho Difei Securities. comes from Yang next our

Difei Yang

of the the expecting the cancer, we rough be on should on pancreatic again, trial? so interim So if what And do plan timeline results? is you analysis

Thomas Neff

you. ahead Thank So question. Difei, from this go thank address you for Alias, this Mizuho. call and joining

Elias Kouchakji

month, at the completed for resection, time patients would one and the is the assessment month interim plus that of the resection. of treatment of So the the when is after be analysis six which all resectability it timeline

last So seven patient months enrolled. after

Thomas Neff

months that is gone patients of understanding the have we'll to seven treatment, get Our the to point… point XXX when

Difei Yang

Okay. And patients, U.S.-based for the are primarily or global XXX then they trial?

Thomas Neff

global a trial. is This

here U.S. cancer study? or please? pancreatic on beyond regard question the planning is the Elias, So anywhere the enrolling we're with to

Elias Kouchakji

a going Tom again as be to. trial to was alluding global is This

So this is the not U.S.-based.

So we're additional to looking forward include country.

We are specifically some patients planning in enrolling China. on

Thomas Neff

please. Next question,

Operator

[Operator Instructions]. And question a Geoffrey follow-up we from a have Porges, question.

Geoffrey Porges

You the talk appreciate questions the follow-up. moved through quickly. Could just you about... I

Thomas Neff

had question Sorry, so Geoffrey, we already a just make one question please.

Geoffrey Porges

Okay.

a question? asked You

Thomas Neff

may You a question. ask

Geoffrey Porges

Thanks, Tom.

MACE Specifically the numbers ESA Toshiba. The be on the going us analysis give comparison of of sense is? you and Could with the a hurdle small. what are to

numerical presented difference. to noninferiority, and measured? is that going So be How

Thomas Neff

you did the question here? Peony, understand

Peony Yu

can Jeff, quite. your clarify question? Not you

Geoffrey Porges

For difference? to to for a to the going combined in going show? do a hurdle What Or it Is noninferiority be What analysis MACE is is roxadustat? difference be of numerical the it going first on part be alone? the next statistical year. to presented? is How need is analysis you the MACE, or that a

Thomas Neff

I understand ahead. think Peony go we it now, please,

Peony Yu

III studies of will three The be epoiten comparison of roxadustat versus Phase be roxadustat It will the four NDA nondialysis, nondialysis dialysis Jeff, between The will will Phase includes dialysis two so analysis separate will MACE this MACE for submission just -- both nondialysis Yes, be MACE we pools. clear consist pool pool comparison and to consist there versus be studies. and III between indication. the a placebo. alfa. The

pools in the we of to So what competitors. of noninferiority the demonstration relative comparison show a need in to is both basis

we So in MACE for non-inferior other comparison to placebo. nondialysis words to need to be safety demonstrate in

bigger patients of we that it to the the their it corrected. for Now, will better a placebo to it is homerun we -- again, safety to have comparison do safety with believe is [EPO]. if the is dialysis hemoglobin since beneficial noninferior And safety course, be CKD for demonstrate than anemia

Thomas Neff

question, Next please.

Operator

questions we time. this have [Operator no And Instructions]. more at

Thomas Neff

moment The pancreatic to programs you development today. of pipeline kidney remarkable regulatory these have myelodysplastic therapeutic in joining well I Thank We signal Idiopathic advancing and efforts and to quarter. my partners thanks and I to investors would to effort our associated locally informed my been would U.S. of for our support. evening. clinical critical, in to look and pace a as has continue for developments. everyone made struggling this like the as XXXX progress help the potential in the take results our incredible FibroGen with their very, And programs advanced and for and call work the to quarter team express very as appreciation second patients Duchenne's dystrophy. Thank on and China their all deep colleagues high the stages. to chronic we program through feel for good of muscular keeping fibrosis, good of We with anemia my wish you. disease forward afternoon pulmonary you syndromes, a late-staged commitment like cancer

Operator

today's concludes Thank for participating. conference. and This you gentleman. you, ladies Thank

You disconnect. now may

FibroGen (FGEN) 7 Aug 182018 Q2 Earnings call transcript