Bridgebio Pharma Stock Price, News & Analysis

BridgeBio Pharma has announced a non-exclusive clinical collaboration with Amgen to study the combination of BBP-398, a SHP2 inhibitor, with LUMAKRAS (sotorasib), targeting advanced solid tumors with the KRAS G12C mutation. The Phase 1/2 trial will assess safety, pharmacokinetics, and preliminary efficacy. BBP-398 aims to inhibit oncogenic processes driven by KRAS mutations, which occur in approximately 17% of solid tumors. The collaboration builds on existing partnerships with other companies, signaling BridgeBio's commitment to advancing its precision oncology pipeline.

BridgeBio Pharma (BBIO) announced mixed results from the Month 12 analysis of its Phase 3 study, ATTRibute-CM, evaluating acoramidis for treating symptomatic TTR amyloid cardiomyopathy. The primary endpoint—six-minute walk distance—did not show improvement (9m acoramidis, 7m placebo). However, notable improvements were recorded in quality of life, NT-proBNP levels, and serum TTR concentrations. Acoramidis demonstrated good tolerability with fewer adverse events leading to death. The independent monitoring committee has recommended continuing the study into the Month 30 endpoint, focusing on all-cause mortality and cardiovascular hospitalizations.

On December 6, 2021, BridgeBio Pharma (Nasdaq: BBIO) granted restricted stock units totaling 12,073 shares to nine new employees under its 2019 Inducement Equity Plan. This grant complies with Nasdaq Listing Rule 5635(c)(4) and was designed to incentivize employees joining the company. Founded in 2015, BridgeBio focuses on developing transformative medicines for genetic diseases and cancers, with a pipeline of over 30 programs and a goal of delivering its first two approved therapies.

BridgeBio Pharma and Helsinn have announced a strategic collaboration to co-develop a first-in-class GPX4 inhibitor aimed at aiding approximately 500,000 cancer patients with unmet therapeutic needs. This non-exclusive framework agreement builds on their previous $2.45 billion collaboration for the FGFR inhibitor infigratinib. The partnership will leverage BridgeBio's drug discovery expertise and Helsinn's clinical development and commercialization capabilities to enhance the oncology pipeline. The GPX4 inhibitor aims to induce ferroptosis, a process beneficial for treating difficult tumors.

BridgeBio Pharma has secured a credit facility worth up to $750 million, combined with an existing cash balance, granting access to over $1.2 billion to support its genetic disease and cancer pipeline programs through 2024. This strategic financial move, alongside a recent $150 million stock repurchase, aims to strengthen its financial position ahead of critical clinical data readouts. The financing features a 9% fixed interest rate and offers flexibility for future business opportunities.

BridgeBio Pharma (Nasdaq: BBIO) reported its third quarter 2021 financial results, revealing a net loss of $155.9 million, compared to a net loss of $115.9 million in Q3 2020. Revenue decreased to $2.3 million from $8.1 million year-over-year. Operating costs rose to $151.8 million, driven by increased R&D expenses. The company holds $599.6 million in cash and equivalents, down from $607.1 million at year-end 2020. BridgeBio continues to advance its pipeline, with 30 programs and 20 clinical trials. Notably, it received FDA approvals for two drugs earlier this year.

BridgeBio Pharma, Inc. (Nasdaq: BBIO) announced the dosing of the first patient in the CANaspire Phase 1/2 trial for BBP-812, a gene therapy for Canavan disease, which affects approximately 1,000 children in the U.S. and EU. This investigational therapy aims to restore survival and motor function in pediatric patients. Currently, no approved therapies exist for this fatal disease. The trial evaluates safety, tolerability, and pharmacodynamic activity, with results expected in 2022. BBP-812 has received multiple designations from the FDA and EMA, highlighting its potential.

BridgeBio Pharma (Nasdaq: BBIO) announced two new collaborations with Columbia University and Mount Sinai to develop therapies for genetic diseases and cancers. This strategic partnership enhances BridgeBio's existing network of over 25 collaborations aimed at rapidly progressing therapeutic options for patients. Both institutions will focus on leveraging early-stage innovations to expedite research into potential treatments, continuing BridgeBio's commitment to driving advancements in genetic medicine.

BridgeBio Pharma (Nasdaq: BBIO) reported significant advancements in its KRAS cancer portfolio during its second annual R&D Day on October 12, 2021. The company unveiled the discovery of next-generation G12C dual inhibitors for KRAS cancers, showing over 500-fold potency compared to first-generation inhibitors. BridgeBio also introduced new gene therapy programs, including BBP-818 for classic galactosemia, and shared updates on its cardiorenal and Mendelian programs. In addition, the launch of BridgeBioX aims to enhance early-stage research and innovation in genetic diseases.