SAN FRANCISCO (AP) _ FibroGen Inc. (FGEN) on Thursday reported second-quarter net income of $116 million, after reporting a loss in the same period a year earlier.
The San Francisco-based company said it had profit of $1.26 per share.
The results beat Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for a loss of 49 cents per share.
The biotech drug developer posted revenue of $191.6 million in the period, also topping Street forecasts. Five analysts surveyed by Zacks expected $32.3 million.
FibroGen shares have climbed slightly since the beginning of the year. In the final minutes of trading on Thursday, shares hit $46.50, a drop of 25% in the last 12 months.