FibroGen Q2 net revenue +14% to $50.6M; cuts US workforce 75% after pancreatic trial failures

KYNTRA BIO, INC.

2024-Q2 EPS reported -$0.49 revenue$106,544,000

Net loss narrowed to $15.5M ($0.16/sh) from $87.7M ($0.90) YoY; revenue $50.6M (+14%).
Raising 2024 roxadustat net product revenue guidance to $135-150M; China total net sales $92.3M (+21%).
U.S. workforce cut ~75% after pamrevlumab misses endpoints in pancreatic cancer trials (PanCAN, LAPIS).
Focusing on FG-3246 ADC for mCRPC; Phase 2 combo topline expected 1H 2025, monotherapy study start 1Q 2025.
Cash, equivalents and AR $147.1M; runway into 2026; CIA approval in China 2H 2024 could trigger $10M milestone.

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