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Jun 30, 2022
Bridgebio Q2 2022 Earnings Report
Reported financial results and business update for the second quarter of 2022.
Key Takeaways
BridgeBio Pharma reported positive proof-of-concept data in three key programs and five additional early-to-mid-stage pipeline programs. They entered an exclusive license agreement with Bristol Myers Squibb for BBP-398 and announced the sale of a Priority Review Voucher. The company ended the quarter with $688.6 million in cash, cash equivalents and marketable securities.
Reported positive interim Phase 2 data for infigratinib in achondroplasia.
Reported positive Phase 2 data for encaleret in autosomal dominant hypocalcemia type 1 (ADH1).
Entered into exclusive license agreement with Bristol Myers Squibb for BBP-398, a potentially best-in-class SHP2 inhibitor, in oncology.
Ended quarter with $688.6 million in cash, cash equivalents and marketable securities, providing financial runway into 2024.
Bridgebio
Bridgebio
Forward Guidance
BridgeBio expects operating expenses and cash burn to continue to decline meaningfully in the third and fourth quarters as restructuring charges decline and anticipated additional business development activity allows further decrease from this baseline.
Positive Outlook
- Positive interim Phase 2 data for infigratinib in achondroplasia
- Positive Phase 2 data for encaleret in ADH1
- Selected a next-generation KRAS G12C dual inhibitor development candidate
- Positive data for five early-to-mid-stage genetic disease programs in pipeline
- Received positive opinion from CHMP for NULIBRY
Challenges Ahead
- Restructuring, impairment and related charges
- Net loss attributable to common stockholders of BridgeBio
- COVID-19 pandemic impact on clinical enrollment and trial commencement activities
- Potential delays in regulatory review
- Manufacturing and supply chain interruptions