Rare Disease Player BridgeBio Pharma Draws Attention Of Big Pharma Companies, Gets Takeover Interest

BridgeBio Pharma Inc BBIO is reportedly attracting takeover interest as some large pharmaceutical companies are studying a potential acquisition of the biotech firm.
Deliberations are ongoing, and there’s no certainty they will result in a transaction, Bloomberg reported citing people familiar with the matter.
BridgeBio may decide to remain independent longer so it can benefit from the results of upcoming drug trials, some of the people said.
Most recently, BridgeBio Pharma announced results from the PROPEL2 Phase 2 trial of infigratinib in children with achondroplasia, a genetic condition affecting a protein in the body called the fibroblast growth factor receptor.
At the highest dose level evaluated to date (Cohort 5, 0.25 mg/kg once daily), the mean increase from baseline in annualized height velocity (AHV) for the ten children with six-month visits was +3.03 cm/yr.
Soon after, the company raised $150 million via equity.
The company aspires to generate $2 billion in annualized run-rate revenue within five years, Kumar said at the JPMorgan conference in January.
Price Action: BBIO shares are up 0.67% at $15.00 during the premarket session on the last check Monday.