Why BridgeBio Pharma Stock Is Trading Lower Tuesday

Zinger Key Points
  • BridgeBio Pharma reported positive results on Tuesday from a study regarding infigratinib for children with achondroplasia.
  • The company reported that the treatment was well tolerated with no adverse reactions.

BridgeBio Pharma, Inc. BBIO is moving lower Tuesday after the company announced results from its Phase 2 trial of infigratinib in children with achondroplasia.

What Happened: The results showed statistically significant improvement in body proportionality at month 18. In addition, it showed statistically significant increased annualized height velocity at month 12 and 18.

The treatment was well tolerated with no adverse reactions. The Phase 3 study, PROPEL 3, of infigratinib in achondroplasia is currently enrolling and is expected to finish enrollment by the end of the year.

“We are very excited to see a persistence of response to infigratinib in linear growth. We are especially encouraged by the promising effect on body proportions, which supports infigratinib’s potential to provide benefits that could impact the lives of children with achondroplasia,” said Daniela Rogoff, M.D., Ph.D., chief medical officer, skeletal dysplasias at BridgeBio.

Related Link: 12 Health Care Stocks Moving In Tuesday’s Pre-Market Session

BBIO Price Action: At the time of writing, BridgeBio shares are trading 4.5% lower at $27.65, according to data from Benzinga Pro.

Image: 2700757 from Pixabay.

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