FibroGen sinks after Muddy Waters highlights short report with $14 target

Carson Block's Muddy Waters Research tweeted a short report by the "BuyersStrike" blog on FibroGen (FGEN). Muddy said, "Under-reported deaths in clinical trial - this looks pretty serious (no position) $FGEN." There are more deaths in the Roxadustat program than were revealed at the American Society of Nephrology conference last week by AstraZeneca (AZN) and FibroGen, the short report contends. It argues that an entire study is missing from the dialysis-dependent chronic kidney disease pooled safety data analysis. The "selective data presentation masks a roxadustat death imbalance," claims the blog, which contends the FDA will not approve Roxadustat. BuyersStrike has a $14 price target on shares of FibroGen. The stock in afternoon trading is down 8%, or $2.69, to $32.71 after Muddy Waters' tweet. Reference Link