BridgeBio Pharma, Inc. - BBIO STOCK NEWS

BridgeBio Pharma (BBIO) announced the sale of its Priority Review Voucher (PRV) for $110 million, following its acquisition in February 2021. The PRV was received after FDA approval of NULIBRY for treating molybdenum cofactor deficiency. The sale is subject to standard closing conditions. Additionally, the company secured a two-year extension on its interest-only period under its senior secured credit facility, delaying principal repayments to November 2026. These strategic moves aim to boost the development of drug programs targeting genetic diseases and cancers.

BridgeBio Pharma has secured an exclusive license with Bristol Myers Squibb for BBP-398, a SHP2 inhibitor aimed at treating challenging cancers. The deal includes an upfront payment of $90 million and potential total payments reaching $905 million from milestones and royalties. BridgeBio will continue leading ongoing clinical trials, while Bristol Myers Squibb will manage future development and commercialization. This collaboration aims to enhance treatment options for patients with advanced solid tumors, particularly those with KRAS mutations.

BridgeBio Pharma, a biopharmaceutical company focused on genetic diseases and cancers, announced its management team's participation in the Bank of America Securities Healthcare Conference on May 11, 2022, at 7:40 pm ET. Investors can access the live webcast on the 'Events & Presentations' page of BridgeBio's website, with a replay available for 90 days post-event. Founded in 2015, BridgeBio aims to develop transformative medicines for patients with genetic conditions, showcasing a commitment to genetic medicine.

BridgeBio Pharma reported significant updates, including the sale of NULIBRY™ to Sentynl Therapeutics and an updated collaboration with Helsinn Group for infigratinib. Positive Phase 2 data for BBP-418 showed a 43% increase in glycosylated alpha-dystroglycan in LGMD2i patients. The ongoing study of acoramidis in ATTR-CM patients continued to demonstrate well-tolerated results. Financially, the company ended Q1 with $633.5 million in cash, while restructuring efforts are expected to reduce expenses significantly. However, a net loss of $196.4 million was recorded.

BridgeBio Pharma has provided an update on its ongoing Phase 2 open-label extension study of acoramidis for patients with symptomatic transthyretin amyloid cardiomyopathy (ATTR-CM). Results show NT-proBNP levels were stable or improved, with a median change of -437 pg/mL at Month 30. Additionally, serum TTR levels increased by 41%, from 21.55 mg/dL to 30.06 mg/dL. Acoramidis was well-tolerated with no significant safety concerns. Topline Phase 3 trial data is expected in mid-2023, raising optimism for treatment efficacy.

BridgeBio Pharma (Nasdaq: BBIO) announced that updated data from its Phase 2 open-label extension study of acoramidis (AG10) for symptomatic transthyretin amyloid cardiomyopathy (ATTR-CM) will be presented at the ACC Annual Scientific Session on April 3, 2022. Additionally, the company will address unmet needs in ATTR patient care at the same event. The ongoing Phase 3 ATTRibute-CM study is expected to provide topline data by mid-2023, with a primary endpoint focusing on all-cause mortality and cardiovascular hospitalizations.

BridgeBio Pharma announced promising results from the Phase 2 trial of BBP-418 for limb-girdle muscular dystrophy type 2i (LGMD2i), presented at the MDA 2022 Annual Meeting. The trial demonstrated a 43% increase in glycosylated alpha-dystroglycan and a 70% reduction in creatine kinase after 90 days, indicating reduced muscle breakdown. Improvements were also seen in the 10-meter walk test. With plans for a Phase 3 trial in late 2022, BBP-418 could become the first approved therapy for LGMD2i, addressing a significant unmet need.

BridgeBio Pharma (Nasdaq: BBIO) announced an investor call on March 14, 2022, to discuss data from its Phase 2 study of BBP-418 for limb-girdle muscular dystrophy type 2i (LGMD2i). Results will be showcased at the MDA 2022 Annual Meeting in Nashville. LGMD2i affects around 7,000 patients in the U.S. and EU, caused by mutations in the FKRP gene. BBP-418 aims to improve glycosylation of αDG, potentially becoming the first approved treatment. The company is committed to advancing its pipeline of therapies for unmet medical needs.

BridgeBio Pharma (Nasdaq: BBIO) has entered into an asset purchase agreement with Sentynl Therapeutics for its FDA-approved drug NULIBRY™ (Fosdenopterin). This drug is critical for reducing mortality risks in patients with the ultra-rare genetic disorder MoCD Type A. Sentynl will handle the global commercialization and development of NULIBRY, with BridgeBio sharing development responsibilities. The deal includes cash payments upon regulatory milestones and potential future royalties for BridgeBio based on net sales.