BBIO - BridgeBio soars 55% after Phase 2 data for achondroplasia candidate

2023-03-06 08:21:43 ET

BridgeBio Pharma ( NASDAQ: BBIO ) jumped ~55% pre-market Monday after announcing Phase 2 data for infigratinib, which is an investigational therapy for children with achondroplasia, the most common cause of disproportionate short stature.

Cohort 5, which received the highest dose level of infigratinib in the PROPEL2 trial to date, indicated notable findings. For the first ten children with at least six months of follow-up in that cohort, the mean change in annualized height velocity (AHV) stood at +3.03 cm/yr (p = 0.0022) from baseline.

The baseline AHV for the ten children with six-month visits rose to 6.77 cm/yr after treatment from 3.73 cm/yr, which was in the expected range for children with achondroplasia.

With an average change of +3.81 cm/yr from baseline in AHV, 80% of children at six months were responders, as indicated by an increase from baseline AHV of at least 25%.

Based on a median follow-up of 71.1 weeks across all cohorts, the company said that infigratinib showed a well-tolerated safety profile, and there were no drug-related treatment-emergent adverse events in cohort 5.

Given the positive PROPEL2 data so far, BridgeBio ( BBIO ) has already started enrolling for a pivotal Phase 3 trial for infigratinib. The small oral molecule has patent protection until at least 2041.

Read: Seeking Alpha contributor Edmund Ingham issued a Buy rating on BridgeBio ( BBIO ) in February, citing significant catalysts for the biotech this year.

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