BridgeBio Pharma (BBIO) reported third-quarter results that beat Wall Street forecasts by a wide margin, as sales of its heart disease drug Attruby propelled a sharp narrowing of its losses.
Revenue rose 192 per cent from a year earlier to $353.2mn, against analyst expectations of $281.7mn. The company posted an adjusted loss of 42 cents a share, better than the 56-cent loss analysts had forecast. Shares were little changed in after-hours trading at $70.72.
US net product revenue from Attruby, a treatment for ATTR cardiomyopathy, reached $253.2mn, up 134 per cent from a year earlier and about $31mn higher than in the previous quarter. Royalty revenue from Beyonttra, the same drug marketed in Europe by Bayer (BAYRY), rose to $20.5mn from $4.3mn. BridgeBio also booked a one-time $75mn sales milestone payment from Bayer tied to Beyonttra’s European performance.
The operating loss narrowed to $11.6mn from $145.2mn a year earlier, even as operating expenses rose to $344.4mn from $259.3mn. The company ended the quarter with $1.5bn in cash, cash equivalents and marketable securities.
Neil Kumar, chief executive, said BridgeBio was now “annualizing to over $1 billion in the U.S. market and well over that globally” with its Attruby and Beyonttra franchise. He described the ATTR cardiomyopathy market as a “stabilizer first market” and said real-world data continued to support the drug’s clinical profile.
Management expects sequential Attruby revenue growth of about $25mn to $30mn in the near term, driven by new patient starts and broader physician adoption. It expects operating losses to average $90mn to $100mn a quarter this year, down from about $130mn a quarter in 2025, and sees a path to break-even in 2027. All four of its brands could reach standalone profitability by 2028, the company said.
The next seven months bring three product launches, each dependent on a US regulatory decision. The FDA is due to rule on BBP-418 for limb-girdle muscular dystrophy type 2I on November 27, on infigratinib for achondroplasia on February 4, 2027, and on encaleret for autosomal dominant hypocalcemia type 1 on May 8, 2027. “We don’t intend to waste it,” Kumar said of the opportunity.