{"id":754844,"date":"2023-05-04T09:01:41","date_gmt":"2023-05-04T13:01:41","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/bridgebio-pharma-reports-first-quarter-2023-financial-results-and-business-update\/"},"modified":"2023-05-04T09:01:41","modified_gmt":"2023-05-04T13:01:41","slug":"bridgebio-pharma-reports-first-quarter-2023-financial-results-and-business-update","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/bridgebio-pharma-reports-first-quarter-2023-financial-results-and-business-update\/","title":{"rendered":"BridgeBio Pharma Reports First Quarter 2023 Financial Results and Business Update"},"content":{"rendered":"
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\n – Phase 3 ATTRibute-CM registrational trial of acoramidis for transthyretin amyloid cardiomyopathy (ATTR-CM) has now completed last patient last visit and remains on track for topline month 30 registrational data to be announced in late July 2023<\/em>
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\n – Positive results announced in Cohort 5 of Phase 2 PROPEL 2 trial of low-dose infigratinib in children with achondroplasia, demonstrating mean increase in annualized height velocity (AHV) of 3.03cm\/year with no treatment-related adverse events. This data suggests a potential best-in-class efficacy and well-tolerated safety profile for infigratinib, which also has a differentiated convenience profile due to its oral route of administration<\/em>\n <\/p>\n

\n – Shared preliminary findings on novel bioassay measuring glycosylated alpha-dystroglycan (\u03b1DG) in patients with limb-girdle muscular dystrophy type 2I (LGMD2I) and 15-month results from ongoing Phase 2 study of BBP-418 for LGMD2I; continuing to progress towards 2023 initiation of a global Phase 3 registrational clinical trial of BBP-418 for LGMD2I<\/em>\n <\/p>\n

\n – Phase 3 CALIBRATE registrational trial of encaleret in autosomal dominant hypocalcemia type 1 (ADH1) continues to proceed, with topline data expected to be announced in the first half of 2024<\/em>\n <\/p>\n

\n – Phase 1\/2 trial of BBP-631 for treatment of congenital adrenal hyperplasia (CAH) progressing with a data update planned by the end of 2023<\/em>\n <\/p>\n

\n – Three lead KRAS programs are progressing, with an Investigational New Drug (IND) application planned for first-in-class direct KRAS<\/em>
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\n G12C<\/em>
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\n (ON) inhibitor BBO-8520 in second half of 2023<\/em>\n <\/p>\n

\n – Closed underwritten public offering with gross proceeds of approximately $150 million, and ended the quarter with $467 million in cash, cash equivalents, marketable securities, and restricted cash (current), providing runway into 2H 2024 <\/em>\n <\/p>\n

PALO ALTO, Calif., May 04, 2023 (GLOBE NEWSWIRE) — BridgeBio Pharma, Inc. (Nasdaq: BBIO) (BridgeBio or the Company), a commercial-stage biopharmaceutical company focused on genetic diseases and cancers, today reported its financial results for the first quarter ended March 31, 2023 and provided an update on the Company\u2019s operations.<\/p>\n

\u201cWe were excited to announce the results from the 5th<\/sup> cohort of our Phase 2 trial of infigratinib for achondroplasia \u2013 an oral agent with a well-tolerated safety profile\u00a0and best-in-class efficacy to date,\u201d said Neil Kumar, Ph.D., founder and CEO of BridgeBio. \u201cWe thank the children and physicians who have partnered with us on this study and are eager to take the next steps for this program together. Infigratinib pairs with our ADH1 program, which reads out its Phase 3 next year, to form a high-quality endocrine franchise that we are continuing to build out. With this dataset for achondroplasia in hand, we look forward to July and the next big readout from our pipeline, the 30-month data from our ATTR-CM Phase 3 trial of acoramidis that recently completed last patient last visit. We thank the ATTR-CM patient and physician communities who made this trial possible, and we look forward to sharing the results with you.\u201d<\/p>\n

\n BridgeBio\u2019s key programs:<\/strong>\n <\/p>\n