Kyntra Bio, Inc. (formerly FibroGen, Inc.) reported a significant decline in financial performance for the fiscal year ending December 31, 2025, with total revenue of $6.4 million, a decrease of 78% from $29.6 million in 2024. The drop in revenue was primarily attributed to the termination of the AstraZeneca U.S./RoW Agreement and the sale of its China operations to AstraZeneca Treasury Limited, which closed on August 29, 2025, for a total consideration of $220.4 million. The company recorded a loss from continuing operations of $58.2 million, compared to a loss of $153.1 million in the previous year, reflecting a substantial reduction in operating costs.
The company’s operating expenses decreased by 71% to $52.3 million, down from $180.0 million in 2024. This reduction was driven by lower employee-related expenses due to workforce reductions, decreased clinical trial costs following the termination of certain programs, and cost control measures. Research and development expenses fell to $23.5 million from $95.7 million, while selling, general, and administrative expenses also saw a significant decline. The company continues to focus on its lead product candidates, roxadustat and FG-3246, with ongoing clinical trials and preparations for a Phase 3 study for roxadustat in anemia associated with lower-risk myelodysplastic syndromes.
Kyntra Bio's strategic developments included the initiation of a Phase 2 monotherapy dose optimization study for FG-3246, an antibody-drug conjugate targeting metastatic castration-resistant prostate cancer. The company also retained rights to roxadustat in the U.S., Canada, and Mexico, while Astellas Pharma continues to commercialize the product in Europe and Japan. The FDA granted Orphan Drug Designation for roxadustat in December 2025, which could provide additional market exclusivity if approved for lower-risk MDS.
As of December 31, 2025, Kyntra Bio reported cash and cash equivalents of $47.9 million, alongside short-term investments of $61.3 million, reflecting a total of $109.4 million in capital resources. The company anticipates continued operating losses as it invests in research and development to advance its product pipeline. Looking ahead, Kyntra Bio aims to leverage its recent divestiture to strengthen its financial position and focus on its core therapeutic areas, while navigating the complexities of the biopharmaceutical market.
About FIBROGEN INC
FibroGen, Inc. is a biopharmaceutical company focused on developing therapies for anemia and cancer. Its key products include roxadustat, an oral treatment for anemia in chronic kidney disease and myelodysplastic syndromes, and FG-3246, an antibody-drug conjugate targeting cancer. The company collaborates globally, with a core business model centered on drug development, licensing, and strategic partnerships in markets like China, Europe, and Japan.
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