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Jun 30, 2024
Bridgebio Q2 2024 Earnings Report
Reported financial results for the second quarter and provided a business update.
Key Takeaways
BridgeBio Pharma reported its Q2 2024 financial results, highlighting progress in preparing for the commercial launch of acoramidis and advancing its Phase 3 clinical programs. The company ended the quarter with $587 million in cash, cash equivalents, marketable securities and short-term restricted cash.
Acoramidis demonstrated a significant impact on mortality, hospitalizations, and quality of life.
Patients taking acoramidis showed meaningful and sustained improvement in time to first event (CVH or ACM) starting at Month 3.
The Company surpassed its interim analysis enrollment target for its Phase 3 FORTIFY study of BBP-418 in individuals living with limb-girdle muscular dystrophy type 2I/R9 (LGMD2I/R9).
The Company ended the quarter with $587 million in cash, cash equivalents, marketable securities and short-term restricted cash.
Revenue by Segment
Forward Guidance
BridgeBio is focused on advancing its pipeline and preparing for the potential commercial launch of acoramidis, with key milestones expected in the near term.
Positive Outlook
- Acoramidis NDA filed with FDA with a PDUFA date of November 29, 2024.
- Enrollment completion expected in 2024 for Encaleret Phase 3 study (CALIBRATE).
- Enrollment completion expected in 2024 for BBP-418 Phase 3 study (FORTIFY).
- Enrollment completion expected in 2024 for Low-dose infigratinib Phase 3 study (PROPEL 3).
- Program update expected in August 2024 for BBP-631 Phase 2 study.
Challenges Ahead
- Clinical trials are subject to risks and uncertainties.
- Regulatory approvals are not guaranteed.
- Macroeconomic and geopolitical events could impact business operations.
- Initial data from studies may not be indicative of final data.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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