NASDAQ$BBIO
Bridgebio Pharma Inc · Q1 2023 earnings
Q1 2023 earnings · · Investor relations
Briefing
BridgeBio reported financial results for Q1 2023 and provided a business update.
BridgeBio Pharma reported its Q1 2023 financial results, highlighting the positive results from the Phase 2 trial of infigratinib for achondroplasia and progress in other key programs. The company closed a public offering with gross proceeds of $150 million and ended the quarter with $467 million in cash and cash equivalents.
- Phase 3 ATTRibute-CM trial of acoramidis completed last patient last visit, with topline data expected in late July 2023.
- Positive results were announced in Cohort 5 of Phase 2 PROPEL 2 trial of low-dose infigratinib in children with achondroplasia, demonstrating a mean increase in annualized height velocity (AHV) of 3.03cm/year.
- Preliminary findings were shared on a novel bioassay measuring glycosylated alpha-dystroglycan (αDG) in patients with limb-girdle muscular dystrophy type 2I (LGMD2I).
- 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.
Headline financials
Revenue & EPS history
Bridgebio · Revenue · Quarterly
$1.83M
Revenue by segment
Bridgebio · $100K total across 1 segment · Q2 2023
- License and Services Revenue$100K—100.0%
Forward guidance
BridgeBio is focused on advancing its key programs, including acoramidis, infigratinib, BBP-418, encaleret and BBP-631. The company expects to announce topline data for the month 30 primary endpoint in late July, 2023 and is continuing to evaluate restructuring alternatives to drive operational changes in business processes, efficiencies, and cost savings.
Tailwinds
- Acoramidis Phase 3 data readout in late July 2023.
- Infigratinib Phase 2 data showed best-in-class efficacy and well-tolerated safety profile.
- BBP-418 Phase 3 trial initiation planned for mid-2023.
- RAS program progressing with IND application planned for BBO-8520 in the second half of 2023.
- Cash runway extended into 2H 2024.
Headwinds
- Uncertainty regarding clinical trial outcomes.
- Potential delays in regulatory review.
- Manufacturing and supply chain interruptions.
- Adverse effects on healthcare systems.
- Disruption of the global economy.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q1 2023
+1.5%
Avg return
Earnings day
+0.6%
Avg return
5 days after
+4.3%
Avg return
30 days after
48%
13 / 27 earnings
Positive
+40.9%
Q2 2022
Best reaction
-21.9%
Q1 2022
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -1.0% | -3.2% | -0.7% | |
| Q4 2025 | -2.8% | -4.1% | +2.0% | |
| Q3 2025 | -4.9% | -7.9% | +8.1% | |
| Q1 2025 | +5.3% | +4.9% | -6.0% | |
| Q4 2024 | +1.4% | -5.3% | -4.2% | |
| Q3 2024 | -5.1% | -9.2% | +5.9% | |
| Q2 2024 | +0.9% | -4.2% | +7.3% | |
| Q1 2024 | +3.0% | +2.8% | +3.6% | |
| Q4 2023 | -0.5% | +4.6% | -13.4% | |
| Q3 2023 | +8.2% | +10.3% | +16.1% | |
| Q2 2023 | -2.3% | +0.8% | -4.4% | |
| Q1 2023 | -5.0% | -4.4% | -1.0% | |
| Q4 2022 | -4.7% | -6.6% | +21.8% | |
| Q3 2022 | -1.1% | -7.0% | -4.8% | |
| Q2 2022 | +40.9% | +39.7% | +26.7% | |
| Q1 2022 | -21.9% | -29.5% | -15.9% | |
| Q4 2021 | +7.6% | +13.9% | +41.1% | |
| Q3 2021 | +6.8% | +2.0% | -22.8% | |
| Q2 2021 | +2.4% | -1.1% | -2.3% | |
| Q1 2021 | -9.3% | -7.2% | +9.5% | |
| Q4 2020 | +4.9% | -1.8% | -9.8% | |
| Q3 2020 | -1.6% | +0.3% | +30.4% | |
| Q2 2020 | +1.4% | +0.2% | +16.2% | |
| Q1 2020 | -6.8% | +6.1% | -12.7% | |
| Q4 2019 | +2.2% | -9.3% | -21.3% | |
| Q3 2019 | +22.1% | +26.2% | +49.0% | |
| Q2 2019 | +0.0% | +4.8% | -3.2% | |
| Q1 2019 | — | — | — | |
| Q4 2018 | — | — | — | |
| Q3 2018 | — | — | — | |
| Q2 2018 | — | — | — | |
| Q1 2018 | — | — | — |
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