FibroGen completes sale of China business to AstraZeneca for ~$220M; repays $81M term loan

KYNTRA BIO, INC.

Sale price ~$220M: $85M enterprise value plus ~$135M net cash held in China.
Net cash received $210.4M; transaction costs $7.7M; net assets sold $138.9M.
Pro forma cash and equivalents rise to $145M from $23M; pro forma deficit narrows to $1.684B.
Repaid $80.9M to MSTV, including $73.7M term loan balance and $6.8M loss on debt extinguishment.
Released $142.9M deferred revenue related to China single performance obligation.

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