BridgeBio Pharma, Inc. (BBIO) stock plummeted 5.06% in the intraday trading on Monday, as the biopharmaceutical company disclosed mixed trial results for its investigational therapies.
The company announced the publication of 18-month results from PROPEL 2, a Phase 2 trial of its investigational therapy infigratinib in children with achondroplasia, a form of dwarfism. While the therapy showed some positive effects, the results were not as promising as investors had hoped, leading to disappointment in the market.
Additionally, BridgeBio presented initial outcomes from the ATTRibute-CM open-label extension study of acoramidis in ATTR-CM (transthyretin amyloid cardiomyopathy) at the American Heart Association Scientific Sessions. The data, while encouraging, failed to significantly boost investor confidence in the therapy's potential.
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