BridgeBio Pharma Shares Are Shooting Higher Today - Here's Why
Portfolio Pulse from Vandana Singh
BridgeBio Pharma Inc (BBIO) announced positive results from its ATTRibute-CM Phase 3 study of acoramidis in transthyretin amyloid cardiomyopathy. The study showed significant improvement in the primary endpoint and a survival rate of 81% versus placebo survival rate of 74%. The company also observed a 50% relative risk reduction in cardiovascular-related hospitalization. In comparison to Pfizer Inc's (PFE) Vyndaqel/Vyndamax, acoramidis showed a 42% greater increase in serum TTR levels and a 92% improvement in median NT-proBNP. BBIO plans to file a New Drug Application with the FDA by the end of 2023. BBIO shares are up 59.30% in premarket trading.
July 17, 2023 | 12:31 pm
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POSITIVE IMPACT
Positive results from BridgeBio Pharma's Phase 3 study of acoramidis and its outperformance against Pfizer's drug could boost investor confidence and drive the stock price up.
The positive results from the Phase 3 study of acoramidis and its outperformance against Pfizer's drug are significant developments for BridgeBio Pharma. This could lead to increased investor confidence and a potential rise in the stock price.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100
NEGATIVE IMPACT
Pfizer's Vyndaqel/Vyndamax was outperformed by BridgeBio Pharma's acoramidis in a Phase 3 study, which could potentially impact investor sentiment and the stock price.
The news that Pfizer's Vyndaqel/Vyndamax was outperformed by BridgeBio Pharma's acoramidis in a Phase 3 study could potentially impact investor sentiment and the stock price. However, the impact may be mitigated by Pfizer's diverse product portfolio.
CONFIDENCE 75
IMPORTANCE 70
RELEVANCE 60