XBI - BridgeBio Pharma: Yet To Be Proven Business Model June, 09 2022 02:54 PM SPDR Series Trust S&P Biotech BBIO lost hugely after the December phase 3 flop. So, although its business model is very interesting, it is not de-risked. It does have a lot of cash. For further details see: BridgeBio Pharma: Yet To Be Proven Business Model