BridgeBio Pharma Stock Surges 60% On Positive Data From Mid-stage Trial Of Treatment For Dwarfism

Shares of BridgeBio Pharma, Inc. (BBIO) are surging over 60% on Monday morning driven by positive data from a Phase 2 clinical trial of its investigational treatment for achondroplasia, a genetic type of short-limbed dwarfism.

BBIO is currently trading at $17.72, up $6.85 or 63.03%, on the Nasdaq, on a volume of 14.3 million shares, above average volume of 1.5 million. The stock opened its trading at $10.98 after closing Friday at $10.87. The stock has traded between $4.98 and $19.39 in the past 52-week period.

BridgeBio Pharma announced positive results from PROPEL2, a Phase 2 trial of the investigational therapy infigratinib in children with achondroplasia, demonstrating potential best-in-class efficacy and a clean safety profile.

Infigratinib is an oral small molecule designed to inhibit FGFR3 and target achondroplasia at its source.

“The data from Cohort 5 has shown a major impact on annualized height velocity for children with achondroplasia and an excellent safety profile to date. We are thrilled to see these promising results and consider that AHV increases of this magnitude will translate to improvements in the medical and functional complications of achondroplasia. We are excited about taking the next steps towards initiating a Phase 3, pivotal clinical trial,” said Professor Ravi Savarirayan, M.D., Ph.D., clinical geneticist and group leader of molecular therapies research at the Murdoch Children’s Research Institute in Australia, the lead investigator for PROPEL2.

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