This Small Cap Soared Following Subsidiary Sale Announcement Worth $160M

By: Dylan Sikes – AllPennyStocks.com News

Thursday, February 20, 2025

A California-based biotech turned heads on Thursday following an announcement that the company has agreed to sell its China subsidiary to AstraZeneca for about $160 million.

Seeing that the company’s market cap was sub-$100 million, it’s no wonder that traders rushed to buy up shares of FibroGen Inc. (Nasdaq:FGEN) following the announcement. Traders pushed this small cap up to $0.8775/share (+56.14%) at the session high. This move was a strong continuation of the success this stock has had over the last six months or so.

FibroGen Inc is a biotechnology company focused on discovering, developing, and commercializing 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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