BridgeBio Pharma, Inc. - BBIO STOCK NEWS

BridgeBio Pharma announced FDA approval for NULIBRY (fosdenopterin), the first therapy for molybdenum cofactor deficiency (MoCD) Type A. This ultra-rare genetic disorder affects under 150 patients globally, with a median survival age of four years. NULIBRY showed an 82% reduction in mortality risk compared to untreated patients during clinical trials, offering new hope for affected families. The approval includes Orphan Drug, Breakthrough Therapy, and Rare Pediatric Disease Designation, along with a Rare Pediatric Disease Priority Review Voucher.

BridgeBio Pharma recently completed its acquisition of Eidos Therapeutics, enhancing its ability to develop acoramidis, a promising treatment for amyloidosis cardiomyopathy. The FDA accepted its NDA for infigratinib to treat cholangiocarcinoma under Priority Review, expediting the approval process. The company initiated two new clinical trials and progressed 17 ongoing studies. As of December 31, 2020, BridgeBio held $607.1 million in cash and marketable securities, following a significant financing round that raised nearly $750 million, positioning it for upcoming product launches.

BridgeBio Pharma (Nasdaq: BBIO) is set to host a webcast on March 22 at 8:00 a.m. ET, to discuss early results from a Phase 2 proof-of-concept study of encaleret for treating Autosomal Dominant Hypocalcemia Type 1 (ADH1). The data will also be presented at the ENDO 2021 conference. If successful, encaleret could be the first approved therapy for ADH1, affecting approximately 12,000 people in the U.S. The company will also present data on infigratinib for children with achondroplasia and a gene therapy candidate for Congenital Adrenal Hyperplasia (CAH).

BridgeBio Pharma (Nasdaq: BBIO) has announced the dosing of the first patient in a Phase 2 trial for BBP-418, an oral treatment for LGMD2i, a serious genetic muscle disorder. This investigational therapy received Orphan Drug Designation from the FDA and EMA due to its potential to address a critical unmet medical need. The trial aims to enroll up to 16 patients, focusing on safety and key efficacy indicators such as muscle glycosylation and functional measures. The progress in this trial represents a significant step towards developing effective therapies for LGMD2i patients.

BridgeBio Pharma announced a secondary public offering of 3,000,000 shares of common stock at $62.50 per share, sold by KKR Genetic Disorder L.P. The underwriters have a 30-day option to purchase up to 450,000 additional shares. The offering is set to close on February 17, 2021. The company will not receive any proceeds from the offering as all shares are sold by the stockholder. Goldman Sachs is the book-running manager for the deal. The offering is conducted under an automatic shelf registration statement with the SEC.

BridgeBio Pharma announced a secondary public offering of 3,000,000 shares of its common stock by KKR Genetic Disorder L.P. The underwriters have a 30-day option to purchase an additional 450,000 shares. All shares are sold by the stockholder, with BridgeBio not receiving any proceeds. The offering is part of a previously filed automatic shelf registration statement with the SEC. Goldman Sachs is the book-running manager, supported by KKR Capital Markets and Raymond James. This release does not constitute an offer or solicitation to buy the securities.

BridgeBio Pharma (Nasdaq: BBIO) announced on February 1, 2021, that its compensation committee granted 16,772 restricted stock units to 11 new employees. These awards were made under the 2019 Inducement Equity Plan, adhering to Nasdaq Listing Rule 5635(c)(4). BridgeBio, founded in 2015, focuses on developing transformative medicines for genetic diseases, with over 20 programs in its pipeline targeting Mendelian diseases and genetically driven cancers.

BridgeBio Pharma (BBIO) has completed the acquisition of Eidos Therapeutics, strengthening its clinical and commercial capabilities. This merger, approved by stockholders, focuses on acoramidis, a therapy targeting transthyretin amyloidosis (ATTR), which impacts over 400,000 people globally. BridgeBio anticipates significant data releases for its core programs in 2021 and 2022, with plans to launch two drugs if approved. Eidos shareholders can receive either 1.85 BBIO shares or $73.26 in cash for each Eidos share.

BridgeBio Pharma announced the pricing of $650 million of 2.25% convertible senior notes due 2029, up from a previously planned $400 million. The offering includes an option for initial purchasers to buy an additional $97.5 million in notes, with closing expected on January 28, 2021. These unsecured notes will bear interest at 2.25% annually and have a conversion price of approximately $97.04 per share, representing a 47.5% premium over the January 25 closing price of $65.79. Net proceeds are intended for general corporate purposes, including share repurchases and research funding.