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Dec 31, 2023
Bridgebio Q4 2023 Earnings Report
Reported financial results for the fourth quarter and full year 2023 and provided a business update.
Key Takeaways
BridgeBio Pharma reported fourth-quarter financial results, with a focus on executing the launch of acoramidis. The company is also focused on fully enrolling three ongoing Phase 3 clinical trials by the end of 2024.
Filed an NDA for acoramidis for the treatment of ATTR-CM with the US FDA; the NDA was accepted for review with a PDUFA date of November 29, 2024.
Presented additional data from ATTRibute-CM at the American Heart Association Scientific Sessions, demonstrating separation at Month 3 of the placebo and acoramidis time-to-first-event Kaplan-Meier curves for a composite of all-cause mortality (ACM) and cardiovascular-related hospitalization (CVH).
Shared positive results of single-arm Phase 3 study of acoramidis in Japanese ATTR-CM patients, including no mortality reported over the 30 month acoramidis treatment period.
Secured up to $1.25 billion of capital from Blue Owl and CPP investments.
Bridgebio
Bridgebio
Bridgebio Revenue by Segment
Revenue by Segment
License Revenue
CapyFin.com Forward Guidance
BridgeBio is focused on executing on the launch of acoramidis for patients with ATTR cardiomyopathy, fully enrolling three ongoing Phase 3 clinical trials by the end of 2024, and reading out potentially exciting data from their Phase 1/2 trial in congenital adrenal hyperplasia later this year.
Positive Outlook
- Acoramidis NDA accepted for review with PDUFA date of November 29, 2024.
- Partnership with Kyowa Kirin for infigratinib in Japan, upfront payment of $100 million.
- Advancement of late stage pipeline.
- Diversifying top line revenue.
- Reinvestment into R&D and business development opportunities.
Challenges Ahead
- Uncertainty regarding impacts due to global health emergencies such as COVID-19.
- Potential volatility in share price.
- Increasing rates of inflation and rising interest rates.
- Hostilities in Ukraine and in Israel and the Gaza Strip.
- Delays in regulatory review, manufacturing and supply chain interruptions.