BBIO - Why BridgeBio Pharma Stock Is Plunging Today
2023-06-15 14:04:34 ET
Shares of the small-cap biotech BridgeBio Pharma (NASDAQ: BBIO) were down by 7.2% on moderate volume as of 1:09 p.m. ET Thursday. The big loss came after JPMorgan Chase released a cautionary note on the biotech's experimental treatment of symptomatic transthyretin amyloidosis cardiomyopathy, or ATTR-CM, known as acoramidis.
ATTR-CM is a rare condition caused by a misfolded protein (transthyretin) accumulating in the pumping chambers of the heart. If left untreated, this heart ailment is often fatal.
Acoramidis is presently in phase 3 testing. BridgeBio previously announced that top-line data from this study should be available in late July.
For further details see:
Why BridgeBio Pharma Stock Is Plunging Today