Business
BridgeBio Pharma Reports Fourth Quarter and Full Year 2019 Financial Results and Highlights Portfolio Progress
-Achieved multiple clinical and pre-clinical milestones across BridgeBio’s pipeline -Delivered pipeline expansion with addition of five new drug development
About this update from Bridgebio Pharma, Inc.
[{"type":"text","content":"-Achieved multiple clinical and pre-clinical milestones across BridgeBio’s pipeline\n -Delivered pipeline expansion with addition of five new drug development and discovery programs; BridgeBio’s portfolio now includes more than 20 potential medicines -Ended quarter with $577.1 million in cash, cash equivalents and marketable securities SAN FRANCISCO, March 02, 2020 (GLOBE NEWSWIRE) -- BridgeBio Pharma, Inc. (NASDAQ: BBIO), a clinical-stage biopharmaceutical company focused on genetic diseases, today is reporting its fourth quarter and full year 2019 financial results and recent progress across its portfolio, which now includes more than 20 drug development and discovery programs. 2019 was a year of significant growth and milestone achievements for BridgeBio. The company initiated its first New Drug Application (NDA) with the United States Food and Drug Administration (FDA) and added five new drug development and discovery programs to its pipeline, which target diseases in endocrinology, ophthalmology, otology, neurology and musculoskeletal therapeutic areas. Veteran biotech and pharmaceutical industry leaders joined BridgeBio’s board of directors and the company as senior leaders, including the recent board appointment of Ronald J. Daniels, president of Johns Hopkins University. The company went public on June 27, 2019 and raised approximately $401 million in gross proceeds in its initial public offering. “BridgeBio was founded nearly five years ago on the back of two big ideas: that there had to be a better way to finance critical biomedical research and that there was a tremendous amount of medical innovation that was trapped, without a way to move into the clinic where it could help patients,” said BridgeBio founder and CEO Neil Kumar, Ph.D. “Today BridgeBio has more than 20 drug development and discovery programs in our pipeline. We initiated our first new drug application with the FDA and we are on track to file our second later this year, along with the anticipated filing of multiple investigational new drug applications. We are demonstrating that our model is working and has the potential to produce an array of life-changing therapies for people in need.” Pipeline growth: We recently disclosed five new genetic medicine product candidates in the pipeline: Encaleret – Calcium sensing receptor antagonist for autosomal domina...