Bridgebio Pharma Stock Price, News & Analysis

BridgeBio Pharma, Inc. (Nasdaq: BBIO) announced on April 7, 2023, that it granted restricted stock units totaling 25,900 shares to five new employees. This award was made under the company’s 2019 Inducement Equity Plan and is in compliance with Nasdaq Listing Rule 5635(c)(4). The Plan, established to attract talent, has undergone amendments since its inception in November 2019.

Founded in 2015, BridgeBio focuses on developing medicines for genetic diseases and cancers. The company operates a pipeline that spans early research to advanced clinical trials, emphasizing its commitment to genetic medicine and patient care.

BridgeBio Pharma announced the initiation of a Phase 1/2 clinical trial for BBP-398, an investigational SHP2 inhibitor, in combination with OPDIVO for treating patients with KRAS-mutated non-small cell lung cancer (NSCLC). The trial aims to evaluate the safety and preliminary efficacy of this combination, targeting a significant unmet medical need as KRAS mutations are present in approximately 27% of NSCLC cases. If successful, this therapy could enhance treatment options for patients with these mutations. Initial data from this trial is expected later in 2023.

BridgeBio Pharma will present preliminary data on its muscle tissue-based bioassay for LGMD2I patients at the MDA 2023 Annual Meeting from March 19-22 in Dallas, Texas. The company will discuss 15-month Phase 2 data and the design of its Phase 3 clinical trial for BBP-418, expected to start in mid-2023. An oral presentation will be held on March 20, featuring results from the ongoing Phase 2 trial. An investor call with Dr. Jeffrey Rosenfeld is scheduled for March 21 at 8:30 am ET, discussing findings and study updates.

BridgeBio Pharma, Inc. (Nasdaq: BBIO) announced an underwritten public offering of 8,823,530 shares at $17.00 per share, targeting gross proceeds of approximately $150 million. The offering includes a 30-day option for underwriters to purchase an additional 1,323,529 shares. The offering is managed by Goldman Sachs, Evercore ISI, Morgan Stanley, and KKR Capital Markets. Closing is expected around March 10, 2023. The shares are offered under an effective shelf registration statement filed with the SEC. This press release does not constitute an offer to sell or solicit any offers to buy these securities in unlawful jurisdictions.

BridgeBio Pharma, Inc. (Nasdaq: BBIO) has initiated an underwritten public offering of $150 million in common stock, with an additional $22.5 million option for underwriters. The offering is under the management of Goldman Sachs, Evercore, and Morgan Stanley and is subject to market conditions. The shares are offered under an effective shelf registration statement filed with the SEC in July 2020. A preliminary prospectus supplement detailing the offering will be filed shortly. This announcement does not serve as an offer to sell or solicit purchases in jurisdictions where it would be illegal. BridgeBio is dedicated to advancing treatments for genetic diseases and cancers.

BridgeBio Pharma announced positive results from the PROPEL2 Phase 2 trial of infigratinib in children with achondroplasia. Key findings include:

• In Cohort 5, a mean increase in annualized height velocity (AHV) of +3.03 cm/yr (p = 0.0022) was observed at the highest dose (0.25 mg/kg once daily).
• 80% of participants were responders with an average AHV increase of +3.81 cm/yr.
• Median absolute AHV reached 7.6 cm/yr.
• Infigratinib showed a clean safety profile with no treatment-related adverse events.
• BridgeBio is now enrolling for a pivotal Phase 3 trial and exploring infigratinib for hypochondroplasia.

BridgeBio Pharma (Nasdaq: BBIO) announced an investor call on March 6, 2023, at 7:30 am ET to discuss Phase 2 Cohort 5 data from the PROPEL2 clinical trial of infigratinib, targeting achondroplasia. Infigratinib is designed to inhibit fibroblast growth factor receptor 3 (FGFR3), addressing a genetic condition affecting ~55,000 in the US and EU. This genetic disorder can lead to serious health complications, emphasizing the importance of continued research and treatment innovation. For more details, visit BridgeBio's website.

BridgeBio Pharma (Nasdaq: BBIO) reported its Q4 and full-year 2022 financial results, ending the year with $466.2 million in cash and equivalents, down from $787.7 million in 2021. The company incurred a net loss of $484.7 million for the year, with revenues decreasing to $77.6 million from $69.7 million. Key clinical trials continue, including the Phase 3 ATTRibute-CM trial for acoramidis, with topline data expected mid-2023, and the PROPEL 2 trial for infigratinib, expected to report in March 2023. Operating expenses decreased due to restructuring efforts, with total operating costs at $589.9 million.