BridgeBio Pharma, Inc. (BBIO) | Investment Case

1. Company Snapshot

1.a. Company Description

BridgeBio Pharma, Inc.engages in the discovery, development, and delivery of various medicines for genetic diseases.The company has a pipeline of 30 development programs that include product candidates ranging from early discovery to late-stage development.

Its products in development programs include AG10 and BBP-265, a small molecule stabilizer of transthyretin, or TTR that is in Phase 3 clinical trial for the treatment of TTR amyloidosis-cardiomyopathy, or ATTR-CM; BBP-831, a small molecule selective FGFR1-3 inhibitor, which is Phase 2 clinical trial to treat achondroplasia in pediatric patients; and BBP-631, an AAV5 gene transfer product candidate that is in Phase 2 clinical trial for the treatment of congenital adrenal hyperplasia, or CAH, driven by 21-hydroxylase deficiency, or 21OHD.The company also develops Encaleret, a small molecule antagonist of the calcium sensing receptor, or CaSR, which is in phase 2 proof-of-concept clinical trial for Autosomal Dominant Hypocalcemia Type 1, or ADH1; and BBP-711 for the treatment of hyperoxaluria, as well as patients suffering from recurrent kidney stones.In addition, it engages in developing products for Mendelian, oncology, and gene therapy diseases.

BridgeBio Pharma, Inc.has license and collaboration agreements with the Leland Stanford Junior University; and The Regents of the University of California; Leidos Biomedical Research, Inc.The company was founded in 2015 and is headquartered in Palo Alto, California.

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1.b. Last Insights on BBIO

BridgeBio Pharma's recent performance was driven by positive developments in its clinical trials and commercial execution. The company's BBP-418 and Encaleret trials exceeded expectations, targeting billion-dollar rare disease markets with little competition. Additionally, its commercial launch of Attruby continues to outperform, capturing valuable first-line market share. Analysts have a consensus rating of "Moderate Buy" on the stock, with 20 buy recommendations and one sell recommendation. The company's management team will participate in upcoming investor conferences, and recent data presentations showcased the efficacy of its treatments, including a significant reduction in all-cause mortality in certain patient populations.

1.c. Company Highlights

Last Price	73.64
Change Percentage	-1.50%
Open	74.4
Previous Close	74.76
Market Cap ( Millions)	14029
Volume	1936833
Year High	75.04
Year Low	25.34
M A 50	61.09
M A 200	45.93

FCF Yield	-4.20%
Dividend Yield	0.00%
ROE	46.77%
Debt / Equity	-0.45%
Net Debt / EBIDTA	93.64%
Price To Book	-7.3
Price Earnings Ratio	-17.6
Price To FCF	-23.81
Price To sales	39.66
EV / EBITDA	-19.78

2. BridgeBio Pharma's Q3 2025 Earnings: Strong Commercial Execution and Pipeline Progress

BridgeBio Pharma reported total revenues of $120.7 million in Q3 2025, a significant increase from $2.7 million in the same period last year, driven primarily by $108.1 million in Attruby net product revenue. The company's cash position stood at $645.9 million, providing substantial cash runway to support its transition into a diversified late-stage multiproduct business. The actual EPS came out at -$0.95, slightly missing estimates of -$0.88.

Publication Date: Nov -15

                                    📋 Highlights
                                    Attruby Revenue Surge:
                                                Total revenues hit $120.7M in Q3 2025, driven by $108.1M in Attruby net product revenue, a 4,000% increase from $2.7M in same period 2024.
Phase III Pipeline Success:
                                                BBP-418 met all endpoints in limb-girdle muscular dystrophy (LGMD2i), with encaleret showing 76% normalization in autosomal dominant hypocalcemia (ADH1) patients.
Strong Cash Reserves:
                                                Ended Q3 with $645.9M in cash, providing financial runway to support transition into a diversified late-stage multiproduct business.
Early Market Penetration:
                                                Attruby's new patient share is ~20%, with double-digit growth in prescriptions, and fastest time to separation from placebo in ATTR-CM market.

                                

Financial Performance

The revenue growth was largely driven by Attruby's strong commercial execution, with the ATTR-CM market continuing to expand across all segments. The company's net product revenue from Attruby was $108.1 million, indicating a robust demand for the product. The financial performance was characterized by a significant increase in total revenues, demonstrating the company's ability to execute its commercial strategy effectively.

Pipeline Progress and Future Prospects

BridgeBio Pharma made significant progress in its pipeline, with positive top-line results from the Phase III FORTIFY trial of BBP-418 and the Phase III CALIBRATE trial of encaleret. According to Neil Kumar, the company is "laser-focused on nailing the launch of the second and third products in early next year," indicating a strong commitment to advancing its pipeline. Analysts estimate next year's revenue growth at 78.6%, suggesting a continued upward trajectory for the company.

Valuation Metrics

With a P/S Ratio of 35.75 and an EV/EBITDA of -17.74, the market appears to be pricing in significant growth expectations for BridgeBio Pharma. The company's ROE stands at 46.77%, indicating a relatively strong return on equity. However, the ROIC is -77.66%, suggesting that the company's investments have not yet generated returns. The current valuation metrics imply that the market is optimistic about the company's future prospects, particularly with regards to its pipeline and commercial execution.

Attruby's Competitive Advantage

Attruby has demonstrated a competitive advantage with its unique binding profile and real-world evidence showing better efficacy over tafamidis. According to Neil Kumar, the company's data "already suggests we're a better stabilizer, leading to better outcomes," which could drive further market share gains. The company's focus on hammering its variant message and publishing impressive data within the variant population is expected to continue driving Attruby's success.

3. NewsRoom

American Century Companies Inc. Buys 62,646 Shares of BridgeBio Pharma, Inc. $BBIO

Nov -29

Source: defenseworld.net

BridgeBio Pharma, Inc. (NASDAQ:BBIO) Given Consensus Rating of “Moderate Buy” by Analysts

Nov -27

Source: defenseworld.net

BridgeBio to Participate in December Investor Conferences

Nov -25

Source: globenewswire.com

Biotech Stock Could Turn 4-Year Peak Into Records

Nov -24

Source: schaeffersresearch.com

BridgeBio Pharma: Set For New Commercial Launches After Trial Successes

Nov -23

Source: seekingalpha.com

BridgeBio Pharma Reports Inducement Grants under Nasdaq Listing Rule 5635(c)(4)

Nov -19

Source: globenewswire.com

BridgeBio Pharma, Inc. (BBIO) Presents at UBS Global Healthcare Conference 2025 Transcript

Nov -11

Source: seekingalpha.com

Acoramidis Significantly Reduces All-cause Mortality in the Overall ATTR-CM Variant and V142I (V122I) Populations

Nov -08

Source: globenewswire.com

4. Business Breakdown

4.a. Revenues by Country

4.b. Revenues by Segment

5. Expected revenues mid-term growth (10.43%)

6. Segments

Transformative Medicines

Expected Growth: 10.43%

Transformative Medicines from BridgeBio Pharma, Inc. is driven by its innovative gene therapy pipeline, strong partnerships, and increasing demand for rare disease treatments. The company's focus on genetic diseases with high unmet needs, such as achondroplasia and Canavan disease, positions it for continued growth.

7. Detailed Products

BBP-831

BBP-831 is a small molecule inhibitor of the A2a receptor, a key regulator of inflammation and immune response. It is being developed as a potential treatment for various inflammatory diseases.

ENC-001

ENC-001 is a gene therapy designed to treat congenital erythropoietic porphyria (CEP), a rare and debilitating genetic disorder.

BBP-815

BBP-815 is a small molecule inhibitor of the PI3K delta enzyme, a key regulator of immune cell function. It is being developed as a potential treatment for various autoimmune diseases.

BBP-924

BBP-924 is a small molecule inhibitor of the SHP2 enzyme, a key regulator of cell signaling pathways. It is being developed as a potential treatment for various cancers.

BBP-398

BBP-398 is a gene therapy designed to treat Canavan disease, a rare and debilitating genetic disorder.

8. BridgeBio Pharma, Inc.'s Porter Forces

Forces Ranking

Threat Of Substitutes

BridgeBio Pharma, Inc. has a moderate threat of substitutes due to the presence of alternative treatments and therapies in the market.

Bargaining Power Of Customers

BridgeBio Pharma, Inc. has a low bargaining power of customers due to the lack of concentration in the buyer's market and the high switching costs.

Bargaining Power Of Suppliers

BridgeBio Pharma, Inc. has a moderate bargaining power of suppliers due to the presence of multiple suppliers and the moderate switching costs.

Threat Of New Entrants

BridgeBio Pharma, Inc. has a high threat of new entrants due to the low barriers to entry and the high growth potential in the biotech industry.

Intensity Of Rivalry

BridgeBio Pharma, Inc. operates in a highly competitive industry with many established players, leading to a high intensity of rivalry.

9. SWOT Analysis

10. Capital Structure

10.a. Balance Sheet

10.b. Weighted Average Cost of capital

	Value
Debt Weight	451.23%
Debt Cost	4.21%
Equity Weight	-351.23%
Equity Cost	9.33%
WACC	-13.76%
Leverage	-128.47%

11. Quality Control: BridgeBio Pharma, Inc. passed 4 out of 9 key points

Strong Liquidity

Low Debt

Strong Interest Coverage

Healthy Cash Flow

Operating Efficiency

Strong Return On Equity

Consistent Revenue Growth

Consistent Operating Cash Flow Growth

Margin Improvement

12.a Historical Valuation

12.b Price/Earnings Ratio

12.c Margin Valuation

12.d Peers Valuation

Peers Group Analysis

BridgeBio Pharma

A-Score: 5.3/10

Value: 8.0

Growth: 5.1

Quality: 5.9

Yield: 0.0

Momentum: 10.0

Volatility: 2.7

1-Year Total Return ->

Krystal Biotech

A-Score: 4.8/10

Value: 1.2

Growth: 9.7

Quality: 9.1

Yield: 0.0

Momentum: 5.0

Volatility: 4.0

1-Year Total Return ->

Alnylam Pharmaceuticals

A-Score: 4.6/10

Value: 0.0

Growth: 7.8

Quality: 5.2

Yield: 0.0

Momentum: 9.5

Volatility: 5.3

1-Year Total Return ->

Insmed

A-Score: 4.3/10

Value: 6.0

Growth: 3.3

Quality: 4.1

Yield: 0.0

Momentum: 10.0

Volatility: 2.7

1-Year Total Return ->

Bio-Techne

A-Score: 3.2/10

Value: 0.9

Growth: 4.2

Quality: 6.3

Yield: 0.0

Momentum: 2.5

Volatility: 5.3

1-Year Total Return ->

IDEAYA Biosciences

A-Score: 3.2/10

Value: 6.6

Growth: 2.9

Quality: 5.1

Yield: 0.0

Momentum: 1.5

Volatility: 3.0

1-Year Total Return ->

Peers Metrics

12.e Scoring ^Insights

12.f DCF ^BETA

Parameters

Short Term Growth

-25.85%

Short term Time

10.0

Long-Term Growth

2.00%

WACC

-13.76%

BridgeBio Pharma, Inc. - US10806X1028

1. Company Snapshot

1.a. Company Description

1.b. Last Insights on BBIO

1.c. Company Highlights

Strong Momentum

Lower Growth

Average Quality

Earnings Beats

Revenues Beats

Fairly Valued

Revenues Miss

Stable Momentum

Earnings Miss

2. BridgeBio Pharma's Q3 2025 Earnings: Strong Commercial Execution and Pipeline Progress

Financial Performance

Pipeline Progress and Future Prospects

Valuation Metrics

Attruby's Competitive Advantage

3. NewsRoom

4. Business Breakdown

4.a. Revenues by Country

4.b. Revenues by Segment

5. Expected revenues mid-term growth (10.43%)

6. Segments

Transformative Medicines

Expected Growth: 10.43%

7. Detailed Products

BBP-831

ENC-001

BBP-815

BBP-924

BBP-398

8. BridgeBio Pharma, Inc.'s Porter Forces

Forces Ranking

Threat Of Substitutes

Bargaining Power Of Customers

Bargaining Power Of Suppliers

Threat Of New Entrants

Intensity Of Rivalry

9. SWOT Analysis

Strength

Weaknesses

Opportunities

Threats

10. Capital Structure

10.a. Balance Sheet

10.b. Weighted Average Cost of capital

11. Quality Control: BridgeBio Pharma, Inc. passed 4 out of 9 key points

12.a Historical Valuation

12.b Price/Earnings Ratio

12.c Margin Valuation

12.d Peers Valuation

Peers Group Analysis

Peers Metrics

12.e Scoring Insights

12.f DCF BETA

Parameters

Short Term Growth

Short term Time

Long-Term Growth

WACC

Target Price

73.64$

Current Price

73.64$

Potential

0.00%

Expected Cash-Flows

12.e Scoring ^Insights

12.f DCF ^BETA