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Jun 30, 2021
Bridgebio Q2 2021 Earnings Report
Reported financial results and business update for Q2 2021, highlighted by FDA approval for TRUSELTIQ™ and Fast Track designations for encaleret and gene therapy for CAH.
Key Takeaways
BridgeBio Pharma reported its Q2 2021 financial results, with a key highlight being the FDA approval of TRUSELTIQ™ for cholangiocarcinoma. The company ended the quarter with $898.4 million in cash, cash equivalents, and marketable securities. Total revenues for the quarter were $54.0 million, and operating costs and expenses were $148.0 million.
Received FDA approval for TRUSELTIQ™ (infigratinib) for cholangiocarcinoma (CCA).
Received FDA Fast Track designation for encaleret for autosomal dominant hypocalcemia (ADH1).
Received FDA Fast Track designation for gene therapy for congenital adrenal hyperplasia (CAH).
Ended the quarter with $898.4 million in cash, cash equivalents and marketable securities.
Forward Guidance
BridgeBio anticipates major milestones in the next 12 months across its core value drivers, including topline results for Acoramidis, additional data for Encaleret, initial data for low-dose Infigratinib, and initial data for BBP-631.
Positive Outlook
- Topline results from Part A of the ATTRibute-CM trial of acoramidis are expected in late 2021.
- Additional data from the ongoing study of encaleret for ADH1 are expected in the second half of 2021.
- Initial data from the ongoing Phase 2 dose ranging study of infigratinib for achondroplasia are expected in the first half of 2022.
- Initial data from the ongoing Phase 1/2 study of BBP-631 for CAH are anticipated in mid-2022.
- BridgeBio is eligible to receive future milestone payments under its strategic collaboration with the Helsinn Group.
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