FibroGen (NASDAQ:FGEN) Stock, Quote.Headers.trade-ideas

FibroGen

FibroGen Inc is a biotechnology company focused on discovering, developing, and commercializing novel therapeutics to treat serious cancer biology and anemia. The Company operates in one reportable segment: the development and commercialization of novel therapeutics to treat serious unmet medical needs. The company generates the vast majority of its revenue in Europe, followed by Japan. Virtually all of FibroGen's revenue to date has been generated from its collaboration agreements. FibroGen seeks partners with research, development, and marketing capabilities and other resources that strengthen the company's ability to advance product candidates.

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Nasdaq Surges Over 3%; Powell Industries Shares Spike Higher

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Dow Jumps Over 200 Points; Kraft Heinz Shares Gain After Q2 Earnings

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General

FibroGen reports topline results from late-stage trials of pamrevlumab for pancreatic cancer, failing to meet the primary endpoint of overall survival.

One Year, Five Trial Failures: FibroGen Terminates Pancreatic Cancer Treatment Program

FibroGen Inc

Management

FibroGen's CFO Juan Graham, Planned Departure Date Is December 15, 2024

Guidance

FibroGen Initiated Restructuring Plan Following Negative Pamrevlumab Trial Data; Plan Includes 75% U.S. Workforce Reduction Affecting 127 Employees

FibroGen Raises Full Year Net Product Revenue Guidance To $135M-$150M

FibroGen (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FGEN#NASDAQ">FGEN</a>) reported quarterly losses of $(0.16) per share which beat the analyst consensus estimate of $(0.26) by 38.46 percent. This is a 82.22 percent increase over losses of $(0.90) per share from the same period last year. The company reported quarterly sales of $50.641 million which beat the analyst consensus estimate of $34.661 million by 46.11 percent. This is a 14.26 percent increase over sales of $44.319 million the same period last year.

Earnings Beats

FibroGen Q2 2024 GAAP EPS $(0.16) Beats $(0.26) Estimate, Sales $50.641M Beat $34.661M Estimate

U.S. stocks traded higher toward the end of trading, with the Dow Jones index gaining more than 400 points on Wednesday.
The Dow traded up 1.07% to 41,177.51 while the NASDAQ rose 3.10% to 17,678.79. The S&amp;P 500 also rose, gaining, 2.08% to 5,549.42.
Leading and Lagging Sectors Information technology shares jumped by 4.3% on Wednesday.
In trading on Wednesday, health care shares rose by just 0.1%.
Top Headline Microsoft Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) reported better-than-expected earnings and sales results for its fourth quarter on Tuesday.
Intelligent Cloud segment revenue was $28.5 billion, up 19% year-over-year, while Azure and other cloud services revenue posted year-over-year growth of 29% last quarter.
Equities Trading UP &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<ul>
<li>Powell Industries, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/POWL#NASDAQ">POWL</a>) shares shot up 40% to $186.83 after the company reported better-than-expected Q3 GAAP EPS and sales.</li>
<li>Shares of Modine Manufacturing Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MOD#NYSE">MOD</a>) got a boost, surging 24% to $122.84&nbsp;after the company reported better-than-expected first-quarter financial results.</li>
<li>Fiverr International Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FVRR#NYSE">FVRR</a>) shares were also up, gaining 22% to $26.78 after the company reported better-than-expected second-quarter financial results.</li>
</ul>
Equities Trading DOWN
<ul>
<li>Imunon, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IMNN#NASDAQ">IMNN</a>) shares dropped 61% to $1.31 after the company announced a&nbsp;$10 million&nbsp;registered direct offering of 5 million&nbsp;shares of common stock with unregistered warrants at a price of&nbsp;$2&nbsp;per unit.</li>
<li>Shares of FibroGen, Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FGEN#NASDAQ">FGEN</a>) were down 45% to $0.5640. The company announced topline results from two late-stage trials evaluating the efficacy and safety of pamrevlumab in patients with pancreatic cancer and said its Precision Promise study in metastatic pancreatic cancer did not meet its primary endpoint.</li>
<li>PepGen Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PEPG#NASDAQ">PEPG</a>) was down, falling 35% to $11.05. The company announced clinical data from the first dose cohort of PGN-EDO51.</li>
</ul>
Commodities In commodity news, oil traded up 4.3% to $77.96 while gold traded up 1% at $2,476.40.
Silver traded up 1.5% to $28.945 on Wednesday, while copper rose 2.8% to $4.1965.
Euro zone
European shares were higher today. The eurozone's STOXX 600 rose 0.80%, Germany's DAX rose 0.53% and France's CAC 40 gained 0.76%. Spain's IBEX 35 Index fell 1.23%, while London's FTSE 100 rose 1.13%.
Asia Pacific Markets
Asian markets closed higher on Wednesday, with Japan's Nikkei 225 gaining 1.49%, Hong Kong's Hang Seng Index jumping 2.01% and S&amp;P BSE Sensex gaining 0.35%.
Economics
<ul>
<li>U.S. pending home sales rose by 4.8% from the prior month in June compared to a revised contraction of 1.9%.</li>
<li>U.S. crude oil inventories declined by 3.436 million barrels in the week ended July 26th, above market estimates of a 1.6 million barrel draw.</li>
<li>Private businesses in the U.S. added 122,000 workers to their payrolls in July, versus a revised 155,000 in June.</li>
</ul>
Now Read This:<a href="https://www.benzinga.com/trading-ideas/long-ideas/24/07/40068197/jim-cramer-says-this-home-improvement-chain-is-a-buy-ahead-of-fed-rate-cut-cycle-i-would"> </a>
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<li><a href="https://www.benzinga.com/trading-ideas/long-ideas/24/07/40068197/jim-cramer-says-this-home-improvement-chain-is-a-buy-ahead-of-fed-rate-cut-cycle-i-would">Jim Cramer Says This Home Improvement Chain Is A Buy Ahead Of Fed Rate Cut Cycle: &#8216;I Would Pick Some Up Tomorrow</a><a href="https://www.benzinga.com/trading-ideas/long-ideas/24/07/40068197/jim-cramer-says-this-home-improvement-chain-is-a-buy-ahead-of-fed-rate-cut-cycle-i-would">&#8216;</a></li>
</ul>

U.S. stocks traded higher midway through trading, with the Dow Jones index gaining more than 200 points on Wednesday.
The Dow traded up 0.54% to 40,964.19 while the NASDAQ rose 2.53% to 17,581.11. The S&amp;P 500 also rose, gaining, 1.64% to 5,525.69.
Leading and Lagging Sectors Information technology shares rose by 3.5% on Wednesday.
In trading on Wednesday, health care shares fell by 0.1%.
Top Headline The Kraft Heinz Company (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KHC#NASDAQ">KHC</a>) shares gained around 4% on Wednesday after the company reported better-than-expected&nbsp;second-quarter&nbsp;adjusted EPS results.
Equities Trading UP &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<ul>
<li>noco-noco Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NCNC#NASDAQ">NCNC</a>) shares shot up 72% to $0.2638.</li>
<li>Shares of Primech Holdings Ltd &nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PMEC#NASDAQ">PMEC</a>) got a boost, surging 62% to $0.8531 &nbsp;after gaining over&nbsp;5%&nbsp;on Tuesday.</li>
<li>NuZee, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NUZE#NASDAQ">NUZE</a>) shares were also up, gaining 64% to $6.05 after gaining around&nbsp;3%&nbsp;on Tuesday.</li>
</ul>
Equities Trading DOWN
<ul>
<li>Imunon, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IMNN#NASDAQ">IMNN</a>) shares dropped 57% to $1.4301 after the company announced a&nbsp;$10 million&nbsp;registered direct offering of 5 million&nbsp; shares of common stock with unregistered warrants at a price of&nbsp;$2&nbsp;per unit.</li>
<li>Shares of FibroGen, Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FGEN#NASDAQ">FGEN</a>) were down 46% to $0.5534. &nbsp;The company announced topline results from two late-stage trials evaluating the efficacy and safety of pamrevlumab in patients with pancreatic cancer and said its Precision Promise study in metastatic pancreatic cancer did not meet its primary endpoint.</li>
<li>PepGen Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PEPG#NASDAQ">PEPG</a>) was down, falling 44% to $9.54. &nbsp;The company announced clinical data from the first dose cohort of PGN-EDO51.</li>
</ul>
Commodities In commodity news, oil traded up 3.8% to $77.56 while gold traded up 0.7% at $2,468.20.
Silver traded up 1.5% to $28.955 on Wednesday, while copper rose 2.5% to $4.1865.
Euro zone
European shares were higher today. The eurozone's STOXX 600 rose 0.8%, Germany's DAX rose 0.53% and France's CAC 40 gained 0.76%. Spain's IBEX 35 Index fell 1.23%, while London's FTSE 100 rose 1.13%.
Asia Pacific Markets
Asian markets closed higher on Wednesday, with Japan's Nikkei 225 gaining 1.49%, Hong Kong's Hang Seng Index jumping 2.01% and S&amp;P BSE Sensex gaining 0.35%.
Economics
<ul>
<li>U.S. pending home sales rose by 4.8% from the prior month in June compared to a revised contraction of 1.9%.</li>
<li>U.S. crude oil inventories declined by 3.436 million barrels in the week ended July 26th, above market estimates of a 1.6 million barrel draw.</li>
<li>Private businesses in the U.S. added 122,000 workers to their payrolls in July, versus a revised 155,000 in June.</li>
</ul>
Now Read This:<a href="https://www.benzinga.com/trading-ideas/long-ideas/24/07/40068197/jim-cramer-says-this-home-improvement-chain-is-a-buy-ahead-of-fed-rate-cut-cycle-i-would"> </a>
<ul>
<li><a href="https://www.benzinga.com/trading-ideas/long-ideas/24/07/40068197/jim-cramer-says-this-home-improvement-chain-is-a-buy-ahead-of-fed-rate-cut-cycle-i-would">Jim Cramer Says This Home Improvement Chain Is A Buy Ahead Of Fed Rate Cut Cycle: &#8216;I Would Pick Some Up Tomorrow</a><a href="https://www.benzinga.com/trading-ideas/long-ideas/24/07/40068197/jim-cramer-says-this-home-improvement-chain-is-a-buy-ahead-of-fed-rate-cut-cycle-i-would">&#8216;</a></li>
</ul>

FibroGen Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FGEN#NASDAQ">FGEN</a>) saw its share price plummet after the release of topline results from two late-stage trials evaluating the efficacy and safety of pamrevlumab in <a href="https://www.benzinga.com/pressreleases/24/07/g40049878/fibrogen-announces-topline-results-from-two-late-stage-pamrevlumab-pancreatic-cancer-studies-and-p" target="_blank" rel="noreferrer noopener">pancreatic cancer patients</a>.
What Happened: The pamrevlumab arm of the study did not meet the primary endpoint of overall survival.
Based upon the results of the late-stage pamrevlumab trials in pancreatic cancer, the company plans to implement an immediate and significant cost reduction plan in the U.S.
Also Read: <a target="_blank" href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38070160/fibrogen-unveils-early-data-from-prostate-cancer-candidate-analyst-advocates-furthe" rel="noreferrer noopener">FibroGen Unveils Early Data From Prostate Cancer Candidate, Analyst Advocates Further Exploration In The Landscape</a>.
And the pamrevlumab development program will be terminated. 
As a result of the cost reduction plan, headcount in the U.S. will be reduced by approximately 75%.
Median overall survival of 17.3 months was observed in the pamrevlumab combined with gemcitabine + nab-paclitaxel or FOLFIRINOX arm compared to the median overall survival of 17.9 months in the control arm of placebo combined with gemcitabine + nab-paclitaxel or FOLFIRINOX (HR: 1.08)
The preliminary safety analyses across both studies indicate that the safety profile of pamrevlumab combined with gemcitabine + nab-paclitaxel or FOLFIRINOX was generally well tolerated, with an acceptable safety profile.
No clinically meaningful differences in treatment-emergent adverse events were seen between the treatment arms.
William Blair writes, &#8220;We believe investors had exceedingly low expectations for pamrevlumab in pancreatic cancer following several clinical setbacks in both idiopathic pulmonary fibrosis and <a href="https://www.benzinga.com/analyst-ratings/analyst-color/23/08/34109907/three-in-a-row-fibrogens-investigational-drug-flunks-in-another-study-for-rare-dise" target="_blank" rel="noreferrer noopener">Duchenne muscular dystrophy</a>.&#8221;
The analyst notes that investor interest in FibroGen has surged following recent mergers and acquisitions in the antibody-drug conjugates (ADC) sector and the release of competitive topline data.
The primary focus is on FG-3246, an ADC targeting CD46. The company plans to start a Phase 2/3 monotherapy trial later this year, with the Phase 3 portion potentially beginning in the first half of 2027. Notably, FG-3246 is the only clinical pipeline candidate with a possible registrational-enabling study in the near future.
William Blair reiterates <a target="_blank" href="https://www.benzinga.com/quote/FGEN/analyst-ratings" rel="noreferrer noopener">the Market Perform rating</a>.
Price Action: FGEN stock is down 47.9% at 54 cents at last check Wednesday.
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FibroGen shares are trading lower. The company announced topline results from two late-stage trials evaluating the efficacy and safety of pamrevlumab in patients with pancreatic cancer and said its Precision Promise study in metastatic pancreatic cancer did not meet its primary endpoint.

Shares of Advanced Micro Devices, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>) shares rose sharply in today's pre-market trading following better-than-expected <a href="https://www.benzinga.com/news/earnings/24/07/40060832/amd-skyrockets-over-9-lifting-along-with-ai-rival-nvidia-whats-going-on">second-quarter earnings</a>.
AMD reported quarterly earnings of 69 cents per share which beat the analyst consensus estimate of 68 cents per share. The company reported quarterly sales of $5.835 billion which beat the analyst consensus estimate of $5.724 billion, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>.
AMD shares jumped 9.1% to $151.01 in pre-market trading.
Here are some other stocks moving in pre-market trading.
<h3 class="wp-block-heading">Gainers</h3>
<ul>
<li>Primech Holdings Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PMEC#NASDAQ">PMEC</a>) gained 114.8% to $1.13 in pre-market trading after gaining over 5% on Tuesday.</li>
<li>Heramba Electric plc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PITA#NASDAQ">PITA</a>) shares climbed 92.8% to $8.29 in pre-market trading after dipping around 49% on Tuesday.</li>
<li>NuZee, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NUZE#NASDAQ">NUZE</a>) rose 79.4% to $6.64 in pre-market trading after gaining around 3% on Tuesday.</li>
<li>Telesis Bio, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TBIO#NASDAQ">TBIO</a>) gained 39.8% to $5.52 in pre-market trading.</li>
<li>Faraday Future Intelligent Electric Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FFIE#NASDAQ">FFIE</a>) shares gained 33.1% to $0.4205 in pre-market trading after the company regained Nasdaq compliance.</li>
<li>Powell Industries, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/POWL#NASDAQ">POWL</a>) gained 25.3% to $167.02 in pre-market trading after posting better-than-expected third-quarter results.</li>
<li>BIMI Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BIMI#NASDAQ">BIMI</a>) shares gained 22.8% to $0.48 in pre-market trading after dipping 66% on Tuesday.      </li>
<li>DallasNews Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DALN#NASDAQ">DALN</a>) shares gained 19.1% to $3.91 in pre-market trading after the company reported a year-over-year increase in second-quarter financial results.</li>
<li>Vistra Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VST#NYSE">VST</a>) gained 12.1% to $77.35 in pre-market trading after the company announced that the Nuclear Regulatory Commission has approved its request to extend the operation of Comanche Peak Nuclear Power Plant through 2053.</li>
</ul>
<h3 class="wp-block-heading">Losers</h3>
<ul>
<li>FibroGen, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FGEN#NASDAQ">FGEN</a>) shares fell 40.2% to $0.6159 in pre-market trading. The company announced topline results from two late-stage trials evaluating the efficacy and safety of pamrevlumab in patients with pancreatic cancer and said its Precision Promise study in metastatic pancreatic cancer did not meet its primary endpoint.</li>
<li>MacroGenics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MGNX#NASDAQ">MGNX</a>) shares declined 24% to $3.99 in pre-market trading. The company announced a presentation of clinical data from the TAMARACK Phase 2 study of vobramitamab duocarmazine at the upcoming European Society for Medical Oncology Congress 2024.</li>
<li>Jet.AI Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/JTAI#NASDAQ">JTAI</a>) fell 21.5% to $0.2631 in pre-market trading. Jet.AI announced expiration and successful results of exchange offer and consent solicitation relating to warrants.</li>
<li>Velo3D, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VLD#NYSE">VLD</a>) shares fell 20.6% to $2.20 in pre-market trading after declining 4% on Tuesday.</li>
<li>Penumbra, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PEN#NYSE">PEN</a>) shares fell 20.3% to $137.93 in pre-market trading after the company reported second-quarter financial results and cut its FY24 revenue guidance below estimates.</li>
<li>Groupon, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GRPN#NASDAQ">GRPN</a>) shares declined 18.6% to $12.75 in pre-market trading following a second-quarter EPS miss.</li>
<li>Definitive Healthcare Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DH#NASDAQ">DH</a>) shares fell 17.6% to $4.71 in pre-market trading. Needham analyst Ryan MacDonald reiterated Definitive Healthcare with a Hold.</li>
<li>O-I Glass, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OI#NYSE">OI</a>) fell 15.5% to $9.80 in pre-market trading after the company lowered its FY24 guidance.</li>
<li>Lemonade, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LMND#NYSE">LMND</a>) shares dipped 14.6% to $19.33 in pre-market trading following quarterly results.</li>
<li>Tivic Health Systems, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TIVC#NASDAQ">TIVC</a>) shares fell 12.4% to $0.5056 in pre-market trading after dipping 18% on Tuesday.</li>
</ul>
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Trading Halt: Halt status updated at 4:30:00 PM ET: Quotation Resumption: News and Resumption Times

<ul>
<li>Pamrevlumab arm of the Precision PromiseSM study in metastatic pancreatic cancer, sponsored and conducted by the Pancreatic Cancer Action Network (PanCAN), did not meet the primary endpoint of overall survival as determined by the protocol pre-specified Bayesian statistical analysis</li>
<li>LAPIS study in locally advanced, unresectable pancreatic cancer, sponsored by FibroGen, did not meet the primary endpoint of overall survival</li>
<li>Pamrevlumab was generally safe and well tolerated across both studies, with no clinically meaningful difference in overall safety vs. control arms &nbsp;</li>
<li>Company to implement immediate and significant cost reduction plan in the U.S. 
<ul>
<li>Terminate pamrevlumab research and development (R&amp;D) investment and expeditiously wind down remaining obligations</li>
<li>Reduce U.S. workforce by approximately 75%</li>
</ul>
</li>
</ul>

FibroGen Announces Topline Results From Two Late-Stage Pamrevlumab Pancreatic Cancer Studies; Pamrevlumab Arm Of Precision PromiseSM Study In Metastatic Pancreatic Cancer Did Not Meet Primary Endpoint

Trading Halt: Halted at 4:00:59 p.m. ET - Trading Halt: Halt News Pending

<h3>Gainers</h3>
<ul>
<li>Qualigen Therapeutics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QLGN#NASDAQ">QLGN</a>) shares moved upwards by 42.5% to $0.25 during Thursday's regular session. The company's market cap stands at $1.5 million. The company's, Q1 earnings came out 2 days ago. </li>
<li>Sharps Technology (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/STSS#NASDAQ">STSS</a>) stock rose 33.56% to $0.31. The market value of their outstanding shares is at $6.1 million. </li>
<li>Autonomix Medical (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMIX#NASDAQ">AMIX</a>) shares increased by 21.43% to $0.78. The market value of their outstanding shares is at $14.6 million. </li>
<li>Akso Health Group (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AHG#NASDAQ">AHG</a>) stock rose 11.68% to $1.29. The company's market cap stands at $189.2 million. </li>
<li>Conduit Pharmaceuticals (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CDT#NASDAQ">CDT</a>) stock rose 10.74% to $0.71. The company's market cap stands at $52.3 million. </li>
<li>FibroGen (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FGEN#NASDAQ">FGEN</a>) shares rose 10.54% to $0.76. The market value of their outstanding shares is at $75.9 million. </li>
</ul>
<h3>Losers</h3>
<ul>
<li>Reshape Lifesciences (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RSLS#NASDAQ">RSLS</a>) stock declined by 7.0% to $0.21 during Thursday's regular session. The company's market cap stands at $4.9 million. </li>
<li>CNS Pharma (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CNSP#NASDAQ">CNSP</a>) stock declined by 6.17% to $1.37. The company's market cap stands at $1.1 million. </li>
<li>Tenon Medical (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TNON#NASDAQ">TNON</a>) shares decreased by 5.78% to $0.72. The market value of their outstanding shares is at $2.7 million. </li>
<li>Ainos (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AIMD#NASDAQ">AIMD</a>) stock fell 5.33% to $0.89. The market value of their outstanding shares is at $5.7 million. </li>
<li>Tenax Therapeutics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TENX#NASDAQ">TENX</a>) shares fell 5.2% to $3.02. The company's market cap stands at $5.9 million. </li>
<li>CareMax (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CMAX#NASDAQ">CMAX</a>) stock decreased by 5.11% to $2.23. The market value of their outstanding shares is at $8.4 million. 
See Also: <a href="http://www.benzinga.com/money/best-healthcare-stocks/" title="www.benzinga.com/money/best-healthcare-stocks/">www.benzinga.com/money/best-healthcare-stocks/</a></li>
</ul>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

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TNON

12 Health Care Stocks Moving In Thursday's Intraday Session

FibroGen Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FGEN#NASDAQ">FGEN</a>) shares initially traded higher Tuesday morning after the company said the FDA cleared its Investigational New Drug (IND) of FG-3165. FibroGen also announced a new <a href="https://www.benzinga.com/pressreleases/24/06/g39145782/fibrogen-announces-clinical-trial-supply-agreement-with-regeneron-pharmaceuticals-to-evaluate-fibr" target="_blank" rel="noreferrer noopener">clinical trial supply agreement with Regeneron</a>.
The Details: FibroGen announced that the&nbsp;<a href="https://www.benzinga.com/pressreleases/24/06/g39145655/fibrogen-announces-fda-clearance-of-investigational-new-drug-application-for-fg-3165-a-galectin-9-" target="_blank" rel="noreferrer noopener">FDA cleared its IND of FG-3165</a>, allowing the company to initiate a Phase 1 clinical trial.
FG-3165 is a galectin-9 targeted monoclonal antibody under development for treatment of solid tumors characterized by high Gal9 levels of expression. Phase 1 trials evaluating the safety and efficacy of FG-3165 in patients with select solid tumors are expected to begin enrollment in the second half of 2024.&nbsp;
"To date, FG-3165 has demonstrated anti-tumor activity with improved survival in combination with other immune modulatory therapies in mouse cancer models and has shown excellent tolerability in nonclinical safety studies," said&nbsp;Thane Wettig, CEO of FibroGen.
FibroGen also announced&nbsp;a clinical trial supply agreement with Regeneron Pharmaceuticals Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/REGN#NASDAQ">REGN</a>) to evaluate FibroGen's immuno-oncology assets FG-3165 and FG-3175 with Reneneron's anti-PD-1 therapy LIBTAYO&nbsp;(cemiplimab) in patients with solid tumors.
FibroGen will be the sponsor of each Phase 1 monotherapy and combination trial. Regeneron will provide drug supply to FibroGen. Each company will retain all rights to their respective compounds.
"We believe that the mechanisms of action for both FG-3165 (anti-Gal9) and FG-3175 (anti-CCR8) have the potential to be synergistic with cemiplimab, providing the possibility for an improvement in clinical outcomes for patients. We look forward to building a collaborative relationship with Regeneron," said&nbsp;Deyaa Adib, chief medical officer of FibroGen.
Don&#8217;t Miss: <a href="https://www.benzinga.com/markets/equities/24/06/39156451/why-microalgo-wimi-hologram-cloud-shares-are-jumping-premarket-today">Why MicroAlgo &amp; WiMi Hologram Cloud Shares Are Jumping Premarket Today</a>
FGEN Price Action: FibroGen shares were up around 14% in early trading before pulling back. The stock was down 1.63% at $1.21 at the time of publication, according to <a href="http://pro.benzinga.com/" target="_blank" rel="noreferrer noopener">Benzinga Pro</a>.
Photo: Shutterstock.

REGN

What's Going On With FibroGen Stock Tuesday?

Shares of Healthequity Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HQY#NASDAQ">HQY</a>) rose sharply in today's pre-market trading as the company reported better-than-expected <a href="https://www.benzinga.com/news/earnings/24/06/39147010/healthequity-stock-climbs-after-better-than-expected-q1-results-strong-forward-guidance">first-quarter financial results</a>.
The company reported quarterly earnings of 80 cents per share which beat the analyst consensus estimate of 66 cents, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>. HealthEquity issued strong FY25 earnings guidance and also issued FY25 revenue guidance with its midpoint above expectations.
Healthequity shares jumped 5.9% to $85.98 in the pre-market trading session.
Here are some other stocks moving in pre-market trading.
<h3 class="wp-block-heading">Gainers</h3>
<ul>
<li>MicroAlgo Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MLGO#NASDAQ">MLGO</a>) rose 209.5% to $4.83 in today's pre-market trading. WiMi Hologram Cloud and MicroAlgo announced plans to jointly establish a micro-consciousness quantum research center.</li>
<li>Core Scientific Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CORZ#NASDAQ">CORZ</a>) shares gained 51.8% to $7.39 in pre-market trading. Core Scientific announced the signing of a series of 12-year contracts with CoreWeave, the AI Hyperscaler.</li>
<li>Annexon, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ANNX#NASDAQ">ANNX</a>) gained 31.2% to $6.01 in pre-market trading. Annexon will host a conference call and webcast on Tuesday at 8:30 a.m. ET to discuss GBS phase 3 data.</li>
<li>Plutonian Acquisition Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PLTN#NASDAQ">PLTN</a>) gained 29.9% to $8.60 in pre-market trading.</li>
<li>SunLink Health Systems Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SSY#NYSE">SSY</a>) shares rose 24.1% to $0.75 in pre-market trading. SunLink Health Systems said its subsidiary, Southern Health Corporation of Houston, Inc., has completed the sale of its Trace Extended Care &amp; Rehab senior care facility and related real estate in Houston, Mississippi.</li>
<li>FibroGen Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FGEN#NASDAQ">FGEN</a>) gained 18.6% to $1.46 in pre-market trading after the company announced announced that the FDA cleared its Investigational New Drug of FG-3165. Also, the company announced a clinical trial supply agreement with Regeneron Pharmaceuticals to evaluate FG-3165 and FG-3175 in combination with LIBTAYO.</li>
<li>WiMi Hologram Cloud Inc &#8211; ADR (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WIMI#NASDAQ">WIMI</a>) rose 15.1% to $0.99 in pre-market trading. WiMi Hologram Cloud and MicroAlgo announced plans to jointly establish a micro-consciousness quantum research center.</li>
<li>Captivision Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CAPT#NASDAQ">CAPT</a>) shares climbed 14.2% to $3.87 in pre-market trading after dipping 28% on Monday.</li>
<li>Lexaria Bioscience Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LEXX#NASDAQ">LEXX</a>) shares gained 13.8% to $4.43 in pre-market trading.  </li>
</ul>
<h3 class="wp-block-heading">Losers</h3>
<ul>
<li>Lufax Holding Ltd &#8211; ADR (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LU#NYSE">LU</a>) shares declined 51.1% to $2.14 in pre-market trading.</li>
<li>Avalon Globocare Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ALBT#NASDAQ">ALBT</a>) shares declined 26.2% to $0.91 in pre-market trading after surging 317% on Monday.</li>
<li>Hywin Holdings Ltd &#8211; ADR (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HYW#NASDAQ">HYW</a>) shares dipped 22.7% to $0.52 in pre-market trading after jumping 91% on Monday.</li>
<li>MingZhu Logistics Holdings Ltd (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/YGMZ#NASDAQ">YGMZ</a>) shares fell 16.5% to $0.39 in pre-market trading. MingZhu Logistics Holdings shares jumped 32% on Monday after the company announced an agreement to acquire Oxylus Global.</li>
<li>NewGenIvf Group Ltd (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NIVF#NASDAQ">NIVF</a>) shares fell 13.8% to $1.19 in pre-market trading. On Monday, NewGenIvf signed a non-binding $617.34 million deal for potential reverse merger with pharma company COVIRIX.</li>
<li>Microbot Medical Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MBOT#NASDAQ">MBOT</a>) shares fell 13% to $1.20 in pre-market trading after jumping 38% on Monday.</li>
<li>Sequans Communications SA ADR (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SQNS#NYSE">SQNS</a>) shares fell 11.9% to $0.60 in pre-market trading after declining around 10% on Monday.</li>
<li>Bark Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BARK#NYSE">BARK</a>) shares declined 10.7% to $1.25 in pre-market trading after the company reported downbeat financial results for its fourth quarter and issued FY25 revenue guidance below estimates.</li>
<li>ICICI Bank Ltd (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IBN#NYSE">IBN</a>) shares fell 8.7% to $25.85 in pre-market trading after gaining around 6% on Monday.</li>
<li>HDFC Bank Ltd (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HDB#NYSE">HDB</a>) fell 7.8% to $56.47 in pre-market trading after gaining around 6% on Monday.</li>
</ul>
Now Read This: <a href="https://www.benzinga.com/news/earnings/24/06/39152576/investor-sentiment-improves-but-dow-falls-over-100-points">Investor Sentiment Improves, But Dow Falls Over 100 Points</a>

Pre-Market Outlook

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Core Scientific, Inc. - Class A Common Stock

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YGMZ

Why HealthEquity Shares Are Trading Higher; Here Are 20 Stocks Moving Premarket

FibroGen Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FGEN#NASDAQ">FGEN</a>) shares are moving higher in Monday&#8217;s after-hours session after the company announced the FDA cleared its Investigational New Drug (IND) for FG-3165. The company also announced a new <a href="https://www.benzinga.com/pressreleases/24/06/g39145782/fibrogen-announces-clinical-trial-supply-agreement-with-regeneron-pharmaceuticals-to-evaluate-fibr">clinical trial supply agreement with Regeneron</a>.
What Happened: After the market close on Monday, FibroGen said the <a href="https://www.benzinga.com/pressreleases/24/06/g39145655/fibrogen-announces-fda-clearance-of-investigational-new-drug-application-for-fg-3165-a-galectin-9-">FDA cleared its IND of FG-3165</a>, allowing the company to initiate a Phase 1 clinical trial.
FG-3165 is a galectin-9 targeted monoclonal antibody under development for treatment of solid tumors characterized by high Gal9 levels of expression. Phase 1 trials evaluating the safety and efficacy of FG-3165 in patients with select solid tumors is expected to begin enrollment in the second half of 2024. 
&#8220;To date, FG-3165 has demonstrated anti-tumor activity with improved survival in combination with other immune modulatory therapies in mouse cancer models and has shown excellent tolerability in nonclinical safety studies,&#8221; said Thane Wettig, CEO of FibroGen. 
FibroGen also announced a clinical trial supply agreement with Regeneron Pharmaceuticals (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/REGN#NASDAQ">REGN</a>) to evaluate FibroGen&#8217;s immuno-oncology assets FG-3165 and FG-3175 with Reneneron&#8217;s anti-PD-1 therapy LIBTAYO (cemiplimab) in patients with solid tumors.
FibroGen will be the sponsor of each Phase 1 monotherapy and combination trial. Regeneron will provide drug supply to FibroGen. Each company will retain all rights to their respective compounds.
&#8220;We believe that the mechanisms of action for both FG-3165 (anti-Gal9) and FG-3175 (anti-CCR8) have the potential to be synergistic with cemiplimab, providing the possibility for an improvement in clinical outcomes for patients. We look forward to building a collaborative relationship with Regeneron,&#8221; said Deyaa Adib, chief medical officer of FibroGen. 
Don&#8217;t Miss: <a href="https://www.benzinga.com/news/24/06/39144378/biogen-shares-surge-following-collaboration-with-delta-flight-products-what-you-need-to-know">Biogen Shares Surge Following Collaboration With Delta Flight Products: What You Need To Know</a>
FGEN Price Action: FibroGen shares were up 22.76% after hours at $1.23 at the time of publication, according to <a href="http://pro.benzinga.com">Benzinga Pro</a>.
Photo: 3844328 from Pixabay.

Contracts

After-Hours Center

FibroGen Stock Is Surging After The Bell: What's Going On?

<h3>Gainers</h3>
<ul>
<li>FibroGen (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FGEN#NASDAQ">FGEN</a>) stock moved upwards by 24.4% to $1.53 during Monday's after-market session. The market value of their outstanding shares is at $152.1 million. </li>
<li>Candel Therapeutics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CADL#NASDAQ">CADL</a>) stock increased by 8.12% to $9.05. The company's market cap stands at $269.2 million. </li>
<li>RAPT Therapeutics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RAPT#NASDAQ">RAPT</a>) shares moved upwards by 7.53% to $4.28. The market value of their outstanding shares is at $149.3 million. </li>
<li>Gritstone Bio (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GRTS#NASDAQ">GRTS</a>) shares increased by 7.24% to $0.79. The market value of their outstanding shares is at $85.4 million. </li>
<li>Scholar Rock Holding (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SRRK#NASDAQ">SRRK</a>) shares rose 6.96% to $10.14. The company's market cap stands at $808.7 million. </li>
<li>Novo Integrated Sciences (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVOS#NASDAQ">NVOS</a>) stock rose 5.65% to $1.31. The company's market cap stands at $24.9 million. </li>
</ul>
<h3>Losers</h3>
<ul>
<li>Bright Green (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BGXX#NASDAQ">BGXX</a>) stock fell 7.4% to $0.26 during Monday's after-market session. The market value of their outstanding shares is at $49.6 million. </li>
<li>Nanoviricides (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/NNVC#AMEX">NNVC</a>) stock decreased by 6.67% to $2.24. The company's market cap stands at $26.4 million. </li>
<li>Concord Medical Services (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CCM#NYSE">CCM</a>) shares fell 6.35% to $0.74. The company's market cap stands at $32.1 million. </li>
<li>BIMI Holdings (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BIMI#NASDAQ">BIMI</a>) stock decreased by 6.3% to $1.19. The company's market cap stands at $16.6 million. </li>
<li>Inotiv (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NOTV#NASDAQ">NOTV</a>) shares declined by 6.0% to $2.04. The company's market cap stands at $52.9 million. </li>
<li>China Pharma Holdings, Inc. Common Stock (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/CPHI#AMEX">CPHI</a>) stock declined by 5.74% to $0.26. 
See Also: <a href="http://www.benzinga.com/money/best-healthcare-stocks/" title="www.benzinga.com/money/best-healthcare-stocks/">www.benzinga.com/money/best-healthcare-stocks/</a></li>
</ul>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

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12 Health Care Stocks Moving In Monday's After-Market Session

FibroGen shares are trading higher after the company announced announced that the FDA cleared its Investigational New Drug of FG-3165. Also, the company announced a clinical trial supply agreement with Regeneron Pharmaceuticals to evaluate FG-3165 and FG-3175 in combination with LIBTAYO.

<ul>
<li>FibroGen to evaluate FG-3165, an anti-galectin 9 (Gal9) monoclonal antibody (mAb), as monotherapy treatment as well as in combination with LIBTAYO&#xAE; in patients with select solid tumors</li>
<li>FibroGen to evaluate FG-3175, an anti-c-c motif chemokine receptor 8 (CCR8) mAb, as monotherapy treatment as well as in combination with LIBTAYO&#xAE; in patients with select solid tumors</li>
<li>Both FG-3165 and FG-3175 have demonstrated complementary mechanisms of action with PD-1 inhibitors in preclinical studies &nbsp;</li>
</ul>
SAN FRANCISCO, June 03, 2024 (GLOBE NEWSWIRE) -- FibroGen, Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FGEN#NASDAQ">FGEN</a>) today announced a clinical trial supply agreement with Regeneron Pharmaceuticals to evaluate FibroGen's immuno-oncology assets, FG-3165 and FG-3175, in combination with Regeneron's anti-PD-1 therapy, LIBTAYO&#xAE; (cemiplimab), in patients with solid tumors.

FibroGen Inks Clinical Trial Supply Agreement With Regeneron Pharmaceuticals To Evaluate FibroGen's Immuno-Oncology Assets, FG-3165 And FG-3175, In Combination With LIBTAYO In Upcoming Clinical Trials

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
Macrogenics&nbsp;(NASDAQ:<a href="https://investorplace.com/stock-quotes/mgnx-stock-quote/">MGNX</a>) stock is dropping on Wednesday as the biopharmaceutical company prepares to <a href="https://www.nasdaq.com/press-release/macrogenics-provides-vobramitamab-duocarmazine-update-2024-07-30">discontinue a clinical trial</a> of vobramitamab duocarmazine.



This is the company&rsquo;s candidate for metastatic castration-resistant prostate cancer (mCRPC). The company has decided to no longer move forward with its TAMARACK Phase 2 study for patients who could have received additional doses.



Macrogenics&nbsp;is making this decision due to the primary endpoint of its study already being met. This suggestion came from the Independent Data Monitoring Committee (IDMC) of the clinical trial. It will present this data in a poster presentation in September.



Scott Koenig, M.D., Ph.D., president and CEO of&nbsp;MacroGenics, said the following about the news.




&ldquo;Patient safety is our top priority, and having reached the study&rsquo;s primary endpoint, we decided to discontinue additional dosing for the remaining TAMARACK participants who had not yet completed treatment. We expect to have the data necessary to determine next steps for the vobra duo program later this year and will provide further updates on an investor call following our ESMO presentation.&rdquo;




<h2>How This Affects MGNX Stock</h2>



Investors aren&rsquo;t reacting well to this news with shares of MGNX stock falling 28.2% as of Wednesday morning. The stock was also down 48.3% year-to-date when markets closed on Tuesday.



Investors who are seeking out even more of the most recent stock market stories today are in the right place!



We have all of the hottest stock market happenings that traders need to read about on Wednesday! That includes everything happening with shares of FibroGen&nbsp;(NASDAQ:<a href="https://investorplace.com/stock-quotes/fgen-stock-quote/">FGEN</a>) stock, Nuzee&nbsp;(NASDAQ:<a href="https://investorplace.com/stock-quotes/nuze-stock-quote/">NUZE</a>) stock and Primech&nbsp;(NASDAQ:<a href="https://investorplace.com/stock-quotes/pmec-stock-quote/">PMEC</a>) stock this morning. You can catch up on all of these matters by checking out the links below!



<h2>More Stock Market News for Wednesday</h2>



<ul><li><a href="https://investorplace.com/2024/07/why-is-fibrogen-fgen-stock-down-44-today/">Why Is FibroGen (FGEN) Stock Down 44% Today?</a></li>



<li><a href="https://investorplace.com/2024/07/why-is-nuzee-nuze-stock-up-64-today/">Why Is Nuzee (NUZE) Stock Up 64% Today?</a></li>



<li><a href="https://investorplace.com/2024/07/why-is-primech-pmec-stock-up-60-today/">Why Is Primech (PMEC) Stock Up 60% Today?</a></li>
</ul>On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the&nbsp;InvestorPlace.com&nbsp;<a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/" target="_blank">Publishing Guidelines</a>.
<h3>More From InvestorPlace</h3>
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									</ul>The post <a href="https://investorplace.com/2024/07/why-is-macrogenics-mgnx-stock-down-28-today/">Why is Macrogenics (MGNX) Stock Down 28% Today?</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

Why is Macrogenics (MGNX) Stock Down 28% Today?

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
Chip stocks are up today and investors wondering why will find all of the news ready to go on Wednesday!



The increase in chip stocks starts with <a href="https://www.cnbc.com/2024/07/31/amd-nvidia-jump-as-chip-stocks-rally-from-earnings-geopolitics-boost.html">strong earnings reports</a> in the sector. That includes Advanced Micro Devices (NASDAQ:<a href="https://investorplace.com/stock-quotes/amd-stock-quote/">AMD</a>) beating out Wall Street&rsquo;s expectations in its latest quarter.



Adding to that are strong results from Samsung. This is one of the largest memory chip makers in the business and its products are used in many artificial intelligence (<a href="https://investorplace.com/stock-quotes/ai-stock-quote/">AI</a>) projects and platforms.



On top of that, geopolitical factors are also sending chip stocks up today. The U.S. is reportedly considering additional bans on sales of semiconductor components to China. However, that ban wouldn&rsquo;t affect allies, such as Japan, the Netherlands and South Korea. This is a switch from prior reports that said these allies may be affected.



With all of this news comes a rally for chip stocks today. Let&rsquo;s dig into that below!



<h2>Chip Stocks Up Today</h2>



<ul><li>AMD stock starts us off on Wednesday morning with a 7.5% gain for the semiconductor company&rsquo;s shares.</li>



<li>Intel&nbsp;(NASDAQ:<a href="https://investorplace.com/stock-quotes/intc-stock-quote/">INTC</a>) stock is climbing 1.7% higher alongside the chip news today.</li>



<li>Nvidia (NASDAQ:<a href="https://investorplace.com/stock-quotes/nvda-stock-quote/">NVDA</a>) stock is experiencing a 10.4% increase as of this writing.</li>



<li>Taiwan Semiconductor (NYSE:<a href="https://investorplace.com/stock-quotes/tsm-stock-quote/">TSM</a>) stock is climbing 5.9% higher this morning.</li>



<li>Broadcom&nbsp;(NASDAQ:<a href="https://investorplace.com/stock-quotes/avgo-stock-quote/">AVGO</a>) stock is heading 8.4% higher on Wednesday.</li>
</ul>Investors will want to keep reading for more of the most recent stock market stories today!



We have all of the hottest market happenings worth reading about on Wednesday! That includes everything going on with FibroGen&nbsp;(NASDAQ:<a href="https://investorplace.com/stock-quotes/fgen-stock-quote/">FGEN</a>), Microsoft&nbsp;(NASDAQ:<a href="https://investorplace.com/stock-quotes/msft-stock-quote/">MSFT</a>)&nbsp;and Match Group&nbsp;(NASDAQ:<a href="https://investorplace.com/stock-quotes/mtch-stock-quote/">MTCH</a>) shares today. You can read up on all of this at the links below!



<h2>More Wednesday Stock Market News</h2>



<ul><li><a href="https://investorplace.com/2024/07/fibrogen-layoffs-2024-what-to-know-about-the-latest-fgen-job-cuts/">FibroGen Layoffs 2024: What to Know About the Latest FGEN Job Cuts</a></li>



<li><a href="https://investorplace.com/2024/07/msft-stock-falls-as-microsoft-cloud-revenue-disappoints-whats-going-on/">MSFT Stock Falls as Microsoft Cloud Revenue Disappoints. What&rsquo;s Going On?</a></li>



<li><a href="https://investorplace.com/2024/07/match-group-layoffs-2024-what-to-know-about-the-latest-mtch-job-cuts/">Match Group Layoffs 2024: What to Know About the Latest MTCH Job Cuts</a></li>
</ul>On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the&nbsp;InvestorPlace.com&nbsp;<a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/" target="_blank">Publishing Guidelines</a>.
<h3>More From InvestorPlace</h3>
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					</li>
									</ul>The post <a href="https://investorplace.com/2024/07/why-are-chip-stocks-up-today-july-31st/">Why Are Chip Stocks Up Today?</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

Why Are Chip Stocks Up Today?

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
FibroGen&nbsp;(NASDAQ:<a href="https://investorplace.com/stock-quotes/fgen-stock-quote/">FGEN</a>) layoffs are in the news Wednesday after the biopharmaceutical company announced <a href="https://www.nasdaq.com/press-release/fibrogen-announces-topline-results-two-late-stage-pamrevlumab-pancreatic-cancer">plans to cut jobs</a> after failed clinical trials.



FibroGen&nbsp;says that it is going into a cost-saving mode that will result in layoffs for 75% of its U.S. employees. This comes as it ends its pamrevlumab development program due to poor results.



Here&rsquo;s what it said about this in a press release.




&ldquo;The pamrevlumab development program will be terminated and the Company plans to expeditiously wind down any remaining pamrevlumab obligations. As a result of the cost reduction plan, headcount in the U.S. will be reduced by approximately 75%.&rdquo;




<h2>FibroGen Layoffs Reasons</h2>



FibroGen&nbsp;posted results from <a href="https://investorplace.com/2024/07/why-is-fibrogen-fgen-stock-down-44-today/">two clinical trials</a> of pamrevlumab. One of these was a Phase 2/3 trial and the other was a Phase 3 trial. In both cases, the trials failed to meet their primary endpoints of overall survival.



With this news comes heavy trading of FGEN stock as traders sell their shares. That has more than 5.8 million units on the move as of this writing. To put that number in perspective, the daily average trading volume for FibroGen shares is roughly 2.8 million.



FGEN stock is down 50.6% as of Wednesday morning. The stock is currently down 36.7% since the start of the year.



Investors will want to stick around for even more stock market news today!



We have all of the hottest stock market stories traders need to know about on Wednesday! A few examples include cloud troubles at Microsoft (NASDAQ:<a href="https://investorplace.com/stock-quotes/msft-stock-quote/">MSFT</a>), layoffs at Match Group&nbsp;(NASDAQ:<a href="https://investorplace.com/stock-quotes/mtch-stock-quote/">MTCH</a>) and Boeing&nbsp;(NYSE:<a href="https://investorplace.com/stock-quotes/ba-stock-quote/">BA</a>)&nbsp;getting a new CEO. All of this news is ready to go at the links below!



<h2>More Stock Market News for Wednesday</h2>



<ul><li><a href="https://investorplace.com/2024/07/msft-stock-falls-as-microsoft-cloud-revenue-disappoints-whats-going-on/">MSFT Stock Falls as Microsoft Cloud Revenue Disappoints. What&rsquo;s Going On?</a></li>



<li><a href="https://investorplace.com/2024/07/match-group-layoffs-2024-what-to-know-about-the-latest-mtch-job-cuts/">Match Group Layoffs 2024: What to Know About the Latest MTCH Job Cuts</a></li>



<li><a href="https://investorplace.com/2024/07/can-new-ceo-kelly-ortberg-save-boeing-ba-stock/">Can New CEO Kelly Ortberg Save Boeing (BA) Stock?</a></li>
</ul>On Penny Stocks and Low-Volume Stocks:&#8239;With only the rarest exceptions, InvestorPlace does not publish commentary about companies that have a market cap of less than $100 million or trade less than 100,000 shares each day. That&rsquo;s because these &ldquo;penny stocks&rdquo; are frequently the playground for scam artists and market manipulators. If we ever do publish commentary on a low-volume stock that may be affected by our commentary, we demand that&#8239;InvestorPlace.com&rsquo;s writers disclose this fact and warn readers of the risks.



Read More:&#8239;Penny Stocks &mdash;&nbsp;<a href="https://investorplace.com/2014/05/fraud-penny-stocks-scams/" target="_blank">How to Profit Without Getting Scammed</a>



On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the&nbsp;InvestorPlace.com&nbsp;<a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/" target="_blank">Publishing Guidelines</a>.
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<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
New ground cinnamon recalls are in effect as the Food and Drug Administration (FDA) warns consumers about <a href="https://www.fda.gov/food/alerts-advisories-safety-information/more-ground-cinnamon-products-added-fda-public-health-alert-due-presence-elevated-levels-lead">increased lead levels</a> in some products.



According to the FDA, several brands of ground cinnamon have been found to contain levels of lead that can be dangerous to consumers. It advises them to not consume any of the products mentioned in these recalls and not to buy them, either.



Let&rsquo;s get into that news more with a look at all of the ground cinnamon products included in these recalls.



<h2>Ground Cinnamon Recalls: Products Affected</h2>



<ul><li>El Chilar sold at El Torito Market in Maryland with lot codes D181EX0624 and E054EX0225.</li>



<li>Marcum sold at Save-A-Lot stores with best by dates of 12/05/25 12 in Missouri and 12/05/25 12 in Virginia.</li>



<li>SWAD sold at Patel Brothers in Connecticut with batch number KX28223.</li>



<li>Supreme Tradition sold at Dollar Tree in Califonia with a 10/06/25 best by date.</li>



<li>Compania Indillor Orientale sold at Eurogrocery in Connecticut with a lot number of L1803231.</li>



<li>ALB Flavor sold at Eurogrocery in Connecticut with a best before date of 30/08/2025.</li>



<li>Shahzada sold at Fish World in New York with a best by date of 12/2026.</li>



<li>La Frontera sold at Frutas Y Abarrotes Mexico, Inc. in New York.</li>
</ul>Outside of this, we have plenty of other stock market stories that traders will want to know about below!



InvestorPlace is home to all of the hottest stock market news traders need to know about on Wednesday! Among that is what has shares of ASML&nbsp;(NASDAQ:<a href="https://investorplace.com/stock-quotes/asml-stock-quote/">ASML</a>), chip stocks and FibroGen&nbsp;(NASDAQ:<a href="https://investorplace.com/stock-quotes/fgen-stock-quote/">FGEN</a>) stock in the news today. All of that info is ready to go at the links below!



<h2>More Stock Market News for Wednesday</h2>



<ul><li><a href="https://investorplace.com/2024/07/asml-stock-pops-on-reports-it-may-not-face-china-chip-restrictions/">ASML Stock Pops on Reports It May Not Face China Chip Restrictions</a></li>



<li><a href="https://investorplace.com/2024/07/why-are-chip-stocks-up-today-july-31st/">Why Are Chip Stocks Up Today?</a></li>



<li><a href="https://investorplace.com/2024/07/fibrogen-layoffs-2024-what-to-know-about-the-latest-fgen-job-cuts/">FibroGen Layoffs 2024: What to Know About the Latest FGEN Job Cuts</a></li>
</ul>On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the&nbsp;InvestorPlace.com&nbsp;<a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/" target="_blank">Publishing Guidelines</a>.
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Ground Cinnamon Recalls: What to Know as FDA Issues Alert Over Lead Levels

FibroGen GAAP EPS of -$0.16 beats by $0.20, revenue of $50.64M beats by $15.98M

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
FibroGen (NASDAQ:<a href="https://investorplace.com/stock-quotes/fgen-stock-quote/">FGEN</a>) just reported results for the second quarter of 2024.<ul><li>FibroGen reported earnings per share of -16 cents. This was above the analyst estimate for EPS of -26 cents.</li><li>The company reported revenue of $50.64 million.</li><li>This was 46.11% better than the analyst estimate for revenue of $34.66 million.</li></ul><div>InvestorPlace Earnings is a project that leverages data from <a href="https://www.tradesmith.com">TradeSmith</a> to automate coverage of quarterly earnings reports. InvestorPlace Earnings distills key takeaways including earnings per share and revenue, as well as how a company stacks up to analyst estimates. These articles are published without human intervention, allowing us to inform our readers of the latest figures as quickly as possible. To report any concerns or inaccuracies, please contact us at <a href="mailto:editor@investorplace.com">editor@investorplace.com</a>.</div><h3>More From InvestorPlace</h3>
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In a report released today, Paul Choi from Goldman Sachs maintained a Sell rating on FibroGen (FGEN – Research Report), with a price target of $0.6...

FibroGen Inc.: Sell Rating Maintained Amid Uncertainties and Limited Upside Potential

FibroGen, Inc. (FGEN) Q2 2024 Earnings Call Transcript

FibroGen CFO, CMO to leave company by year's end

The latest update is out from FibroGen ( ($FGEN) ). FibroGen, Inc. is streamlining its U.S. operations with a significant cost reduction strategy, ...

FibroGen Executives Depart Amid U.S. Operations Overhaul

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Opinion

Press Releases

Biotech Advances in 2024: Innovative Treatments Aim to Boost Pancreatic Cancer Survival Rates

FibroGen Announces FDA Clearance of Investigational New Drug Application for FG-3165, a Galectin-9 Targeting Monoclonal Antibody, for the Treatment of Patients with Solid Tumors

FibroGen Announces Clinical Trial Supply Agreement with Regeneron Pharmaceuticals to Evaluate FibroGen's Immuno-Oncology Assets, FG-3165 (anti-Galectin 9) and FG-3175 (anti-CCR8), in Combination with LIBTAYO® in Upcoming Clinical Trials

Pancreatic Cancer on the Rise: How Biotech Firms are Developing Groundbreaking Treatments

FibroGen to Host Part II of Virtual KOL Investor Event Series to Review FG-3246 Development Program in Metastatic Castration-Resistant Prostate Cancer on June 26, 2024

FibroGen Announces Topline Results from Two Late-Stage Pamrevlumab Pancreatic Cancer Studies and Provides Corporate Update

FibroGen to Report Second Quarter 2024 Financial Results

FibroGen Reports Second Quarter 2024 Financial Results and Provides Business Update

FibroGen to Present at the H.C. Wainwright 26th Annual Global Investment Conference

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FibroGen (FGEN) Forecast

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