BBIO · BridgeBio Pharma
BridgeBio in 2023: a missed endpoint, then a 30-month readout
2023 · +430% in the calendar year
For scale: buying every US stock breakout from 2018 to 2026 with no selection returned a median −22.6% a year later, measured on the 14,674 with a full twelve months of data. How it was measured
On 27 December 2021 BridgeBio Pharma reported 12-month results from Part A of ATTRibute-CM, the Phase 3 study of its drug acoramidis in transthyretin amyloid cardiomyopathy, a form of heart disease. The primary endpoint, change in six-minute walk distance, was missed, and the shares fell 70.7% in one session. Part B of the same study continued, to 30 months. Its topline results, released on 17 July 2023, met the primary endpoint with a win ratio of 1.8 (p<0.0001).
On-treatment survival was 81% against 74% for placebo, the relative risk of cardiovascular hospitalization was 50% lower, and six-minute walk distance, the measure missed in 2021, was significant this time. The shares rose 86% that day, to levels last seen in late 2021, and the stock finished at +430% in calendar 2023. The FDA approved acoramidis, under the name Attruby, on 22 November 2024, with a label covering the reduction of cardiovascular death and hospitalization.
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Sources: Motley Fool, 27 Dec 2021 · BridgeBio press release (GlobeNewswire), 17 Jul 2023 · BioPharma Dive, 17 Jul 2023 · BioPharma Dive, Nov 2024 (Attruby approval). Price figures are split-adjusted, not dividend-adjusted.
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