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SEC brings action against biotech firm for false and misleading statements

Image of prescription drug bottle of pills.
Photo: Spencer Platt/Getty Images

Julie DiMauro

3 min read
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The SEC found fault with the firm for how it reported cardiovascular safety results to investors regarding its drug, Roxadustat.

The SEC has issued a cease and desist order to FibroGen Inc, a biotech company headquartered in San Francisco, finding that it, mainly through its chief medical officer, made false and/or materially misleading disclosures in a range of forums, including a high-profile industry presentation, multiple SEC filings, an earnings call,

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