BridgeBio reports strong demand for Attruby post-FDA approval and enrollment completion in three Phase 3 trials, with significant financial backing.
Quiver AI Summary
BridgeBio Pharma, Inc. announced significant progress following the FDA approval of its drug Attruby (acoramidis) for treating transthyretin-mediated amyloidosis (ATTR-CM), with 430 prescriptions written by 248 healthcare providers. The company has successfully enrolled participants in three major Phase 3 clinical trials: FORTIFY for BBP-418 in limb-girdle muscular dystrophy type 2I/R9, CALIBRATE for encaleret in autosomal dominant hypocalcemia type 1, and PROPEL 3 for infigratinib in achondroplasia. BridgeBio is well-positioned financially, with $406 million in cash and potential regulatory milestone payments expected in 2025. The company is optimistic about addressing genetic diseases and expects to see results from these clinical trials in the second half of 2025.
Potential Positives
- Remarkable early demand for Attruby with 430 prescriptions written by 248 unique healthcare providers, indicating strong initial market acceptance.
- Completion of enrollment in three major market Phase 3 clinical trials, positioning the company for potential breakthroughs in multiple genetic disorders.
- Strong financial position with $406M in cash, additional $500M from FDA approval, and anticipated $105M in regulatory milestone payments, ensuring resources for product launches and clinical trials.
Potential Negatives
- Adverse reactions associated with Attruby include diarrhea (11.6% incidence) and upper abdominal pain (5.5% incidence), which may raise concerns regarding the drug's tolerability among patients.
- The company faces significant risks related to the success of ongoing and future clinical trials, including the possibility that actual patient populations may be smaller than anticipated or not yield the expected results.
- The statement includes multiple forward-looking assertions that are contingent on future events and regulatory approvals, which could lead to missed expectations and potentially affect investor confidence.
FAQ
What is the key update regarding Attruby demand since its FDA approval?
Since FDA approval, Attruby has seen 430 prescriptions written by 248 unique healthcare providers, indicating strong early demand.
What are the major Phase 3 clinical trials completed by BridgeBio?
BridgeBio has fully enrolled three major Phase 3 trials: FORTIFY for LGMD2I/R9, CALIBRATE for ADH1, and PROPEL 3 for achondroplasia.
How is BridgeBio financially prepared for future milestones?
BridgeBio has $406 million in cash, received $500 million from FDA approval, and expects $105 million in regulatory milestones in 2025.
What is Attruby indicated for?
Attruby is indicated for treating cardiomyopathy associated with transthyretin-mediated amyloidosis (ATTR-CM), aimed at reducing cardiovascular-related events.
What safety information should patients know about Attruby?
Common adverse reactions include diarrhea and upper abdominal pain, mostly mild and resolved without discontinuation of the drug.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$BBIO Insider Trading Activity
$BBIO insiders have traded $BBIO stock on the open market 8 times in the past 6 months. Of those trades, 0 have been purchases and 8 have been sales.
Here’s a breakdown of recent trading of $BBIO stock by insiders over the last 6 months:
- BRIAN C STEPHENSON (Secretary, Treasurer & CFO) has traded it 3 times. They made 0 purchases and 3 sales, selling 8,311 shares.
- NEIL KUMAR (Chief Executive Officer) has traded it 4 times. They made 0 purchases and 4 sales, selling 54,778 shares.
- GENETIC DISORDER L.P. KKR sold 5,800,000 shares.
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$BBIO Hedge Fund Activity
We have seen 140 institutional investors add shares of $BBIO stock to their portfolio, and 103 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
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- FARALLON CAPITAL MANAGEMENT LLC added 1,747,000 shares (+inf%) to their portfolio in Q3 2024
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Full Release
- Remarkable early Attruby demand: 430 scripts written by 248 unique HCPs since FDA approval with broad uptake across academic centers and community centers in all patient types
- Fully enrolled three major market Phase 3 clinical trials: FORTIFY (BBP-418 for LGMD2I/R9); CALIBRATE (encaleret for ADH1); and PROPEL 3 (infigratinib for Achondroplasia)
- Well-financed to launch Attruby and read out major market Phase 3 trials: $406M in cash as of last quarter, received $500M upon acoramidis FDA approval from royalty facility, and anticipate $105M in regulatory milestones in 1H 2025 from acoramidis Europe and Japan approvals
PALO ALTO, Calif., Jan. 13, 2025 (GLOBE NEWSWIRE) -- BridgeBio Pharma, Inc. (Nasdaq: BBIO) (“BridgeBio” or the “Company”), a new type of biopharmaceutical company focused on genetic diseases, today provided updates on its commercial progress for Attruby (acoramidis), status of late-stage pipeline programs, and anticipated 2025 milestones.
“With the FDA’s approval of Attruby, we marked an important moment for both our organization and the broader ATTR-CM patient community in need of new treatment options. We’re grateful for the enthusiasm surrounding the product and the associated initial commercial momentum, with 430 prescriptions written by 248 unique physicians, and we look forward to continued progress,” said Neil Kumar, Ph.D., Founder and CEO of BridgeBio. “Additionally, we are excited to share that we have completed enrollment of all three of our major market Phase 3 clinical trials. I look forward to continuing to work with this stellar team to serve patients with genetic disease in 2025.”
Business Update
On November 22, 2024, the U.S. Food and Drug Administration (FDA) approved Attruby (acoramidis), a near-complete TTR stabilizer (≥90%), to reduce cardiovascular death and cardiovascular-related hospitalization in adult patients with ATTR-CM, a progressive fatal disease presenting as an infiltrative, restrictive cardiomyopathy resulting in heart failure.
Since the approval, BridgeBio has seen remarkable momentum with 430 patient prescriptions written by 248 physicians.
Pipeline Updates
BBP-418 – Glycosylation substrate for limb-girdle muscular dystrophy type 2I/R9 (LGMD2I/R9):
- FORTIFY is a Phase 3 clinical trial of BBP-418 in LGMD2I/R9, a rare genetic disorder caused by variants in the fukutin‑related protein (FKRP) gene that result in progressive muscle degeneration and damage, and eventual loss of functional independence. The trial is fully enrolled with 112 patients.
- The Company expects Last Patient – Last Visit (LPLV) and topline readout of the interim analysis cohort in second half 2025.
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If successful, BBP-418 would be the first approved therapy for individuals living with LGMD2I/R9.
Encaleret – Calcium-sensing receptor (CaSR) antagonist for autosomal dominant hypocalcemia type 1 (ADH1):
- CALIBRATE, the Phase 3 clinical trial of encaleret in ADH1, a rare, genetic form of hypoparathyroidism, is fully enrolled with 70 patients. The trial is designed to evaluate the efficacy and safety of encaleret compared to standard of care in adult patients with ADH1.
- The Company expects Last Patient – Last Visit and topline readout in second half 2025.
-
If successful, encaleret would be the first approved therapy for individuals living with ADH1.
Infigratinib – FGFR1-3 inhibitor for achondroplasia and hypochondroplasia:
- PROPEL 3, the Phase 3 clinical trial of infigratinib in achondroplasia, the most common form of disproportionate short stature, is fully enrolled with 114 participants.
- The Company expects Last Participant – Last Visit in second half 2025.
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If successful, infigratinib would be the first approved oral therapy for children living with achondroplasia.
2025 Milestones
Program | Status | Anticipated 2025 Milestone |
Acoramidis for ATTR-CM | US FDA approval on November 22, 2024 | EU and Japan approvals in 1H 2024 |
BBP-418 for LGMD2I/R9 | FORTIFY, Phase 3 study enrollment completed | Last Patient – Last Visit and Topline readout in 2H 2025 |
Encaleret for ADH1 | CALIBRATE, Phase 3 study enrollment completed | Last Patient – Last Visit and Topline readout in 2H 2025 |
Infigratinib for achondroplasia | PROPEL 3, Phase 3 study enrollment completed | Last Participant – Last Visit in 2H 2025 |
About Attruby™ (acoramidis)
INDICATION
Attruby is a transthyretin stabilizer indicated for the treatment of the cardiomyopathy of wild-type or variant transthyretin-mediated amyloidosis (ATTR-CM) in adults to reduce cardiovascular death and cardiovascular-related hospitalization.
IMPORTANT SAFETY INFORMATION
Adverse Reactions
Diarrhea (11.6% vs 7.6%) and upper abdominal pain (5.5% vs 1.4%) were reported in patients treated with Attruby versus placebo, respectively. The majority of these adverse reactions were mild and resolved without drug discontinuation. Discontinuation rates due to adverse events were similar between patients treated with Attruby versus placebo (9.3% and 8.5%, respectively).
About BridgeBio Pharma, Inc.
BridgeBio Pharma, Inc. (BridgeBio) is a new type of biopharmaceutical company founded to discover, create, test, and deliver transformative medicines to treat patients who suffer from genetic diseases. BridgeBio’s pipeline of development programs ranges from early science to advanced clinical trials. BridgeBio was founded in 2015 and its team of experienced drug discoverers, developers and innovators are committed to applying advances in genetic medicine to help patients as quickly as possible. For more information visit
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BridgeBio Pharma, Inc. Forward-Looking Statements
This press release contains forward-looking statements. Statements in this press release may include statements that are not historical facts and are considered forward-looking within the meaning of Section 27A of the Securities Act of 1933, as amended (the Securities Act), and Section 21E of the Securities Exchange Act of 1934, as amended (the Exchange Act), which are usually identified by the use of words such as “anticipates,” “believes,” “continues,” “estimates,” “expects,” “hopes,” “intends,” “may,” “plans,” “projects,” “remains,” “seeks,” “should,” “will,” and variations of such words or similar expressions. BridgeBio intends these forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in Section 27A of the Securities Act and Section 21E of the Exchange Act. These forward-looking statements, including express and implied statements relating to the Company’s expectations regarding the commercial success of Attruby; the Company’s clinical trials, including the timing of the last patient-last visit and topline data readouts for each of FORTIFY, CALIBRATE and PROPEL 3; the potential for encaleret to become a new treatment for ADH1; the potential for BBP-418 to become a new treatment for LGMD2I/R9; the potential for infigratinib to become a new treatment for achondroplasia; timing of approval of Attruby for ATTR-CM in the European Union and Japan; and the Company’s preliminary and unaudited estimate of cash and the Company’s anticipated funding of its current operations and related timelines; and the Company’s expectations regarding reaching regulatory milestones and receipt of milestone payments, among others, reflect the Company’s current views about the Company’s plans, intentions, expectations and strategies, which are based on the information currently available to us and on assumptions the Company has made. Although the Company believes that its plans, intentions, expectations and strategies as reflected in or suggested by those forward-looking statements are reasonable, the Company can give no assurance that the plans, intentions, expectations or strategies will be attained or achieved. Furthermore, actual results may differ materially from those described in the forward-looking statements and will be affected by a number of risks, uncertainties and assumptions, including, but not limited to, initial and ongoing data from the Company’s preclinical studies and clinical trials not being indicative of final data, the potential size of the target patient populations the Company’s product candidates are designed to treat not being as large as anticipated, the design and success of ongoing and planned clinical trials, future regulatory filings, approvals and/or sales, despite having ongoing and future interactions with the FDA or other regulatory agencies to discuss potential paths to registration for the Company’s product candidates, the FDA or such other regulatory agencies not agreeing with the Company’s regulatory approval strategies, components of the Company’s filings, such as clinical trial designs, conduct and methodologies, or the sufficiency of data submitted, the continuing success of the Company’s collaborations, the Company’s ability to obtain additional funding, including through less dilutive sources of capital than equity financings, potential volatility in the Company’s share price, the impacts of current macroeconomic and geopolitical events, including changing conditions from hostilities in Ukraine and in Israel and the Gaza Strip, increasing rates of inflation and changing interest rates, on business operations and expectations, as well as those risks set forth in the Risk Factors section of the Company’s most recent Quarterly Report on Form 10-Q and Annual Report on Form 10-K and the Company’s other filings with the U.S. Securities and Exchange Commission. Moreover, the Company operates in a very competitive and rapidly changing environment in which new risks emerge from time to time. These forward-looking statements are based upon the current expectations and beliefs of the Company’s management as of the date of this press release, and are subject to certain risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. Except as required by applicable law, BridgeBio assumes no obligation to update publicly any forward-looking statements, whether as a result of new information, future events or otherwise.
BridgeBio Media Contact:
Bubba Murarka, EVP Communications
[email protected]
(650)-789-8220