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BridgeBio Pharma, Inc. (BBIO) Stock Gaining Momentum in Regular Session Despite Clear Reason

BridgeBio Pharma, Inc. (BBIO) is a leading innovative biopharmaceutical company engaged in the development and commercialization of various products used for the treatment of genetic disorders and cancer. One of the product candidates of the company is BBP-265, which is in Phase 3 trials for ATTR-cardiomyopathy. BBP-831 is in Phase 2 trials for the treatment of achondroplasia in patients.

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The price of BBIO stock during the regular trading on December 28, 2021, with a leap of 11.51% was last checked to be $12.69.

BBIO: Events and Happenings

On December 27, 2021, BBIO reported topline outcomes from Month 12 of ATTRibute-CM. The company reported unexpected and disappointing results from the ongoing Phase 3 clinical studies. On December 10, 2021, BBIO reported that the compensation team of the company’s board of directors approved on December 6, nine new employees restricted cohorts for a sum of 12,073 cohorts of the BBIO’s common stock.

On November 19, 2021, BBIO and Helsinn Group co-reported about their entry into a partnership to develop and market an inhibitor used to target glutathione peroxidase 4. The collaboration will provide an effective novel treatment for patients with tumors.

On November 18, 2021, BBIO reported the execution of a definitive credit facility contract with an association of lenders for $750.0 million in financing.

BBIO: Key Financials

On November 4, 2021, BBIO announced financial results for the third quarter ended September 30, 2021. Some of the highlights are as follows

Revenue and Assets

Total revenue generated by BBIO for the third quarter of 2021 was reported to be $2.3 million as compared to the revenue generated for the same period of 2020 when it was $8.1 million. Total assets of the company reported for Q3 2021 were $781 million.

Net Loss per Share

Basic and diluted net loss per share for third-quarter 2021 was $161 million or $1.06 per share as compared to the same period prior year when it was $130 million or $0.98 per share.

On November 3, 2021, BBIO reported that the initial patient had been dosed with CANaspire, which is its Phase 1/2 clinical trial of BBP-812 used for the treatment of Canavan disease. On October 29, 2021, BBIO reported two recent collaborations with Columbia University and Mount Sinai to discover potential therapies for genetically driven cancers.

Conclusion

Although the company showed a 68% decline in stock price from the past week, yet the current incline in the market is tremendous. The company showed not so hopeful topline results recently but the investors are putting their trust in the company’s policies and different pipeline partnerships.

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