Post EPS Huddle: Attruby Demand Accelerating With Growing Treatment-Naive Use

研报英文原文证据摘录

Post EPS Huddle: Attruby Demand Accelerating With Growing Treatment-Naive Use

midis ultimately be approved, it

would be second to market behind Pfizer's Vyndaqel/Vyndamax, which is currently approved in

ATTR-CM, and has a similar mechanism of action as acoramidis. This may result in competition

in the market, which could limit its penetration. Additionally, BioMarin's Voxzogo is approved in

achondroplasia and could limit market share for BridgeBio's infigratinib, if successful.

Financial Risk: BridgeBio is advancing an expansive and diverse clinical pipeline. If the

company is unable to expand as needed, either by hiring new employees or contracting

with service providers, or if it is not able to raise additional funding, it might not be able to

successfully execute on further development activities for its pipeline candidates. This might

prevent the company from achieving its goals.

Of note, the company has incurred a significant amount of debt (~$1.9B). Servicing the senior

secured portion of the debt ($450MM, due 2029) will require significant cash flow, and the

company might not have sufficient cash flow from its business to pay its debts if its core

programs are not successful. Furthermore, the larger portion of BridgeBio’s indebtedness was

incurred via convertible senior notes. As a result, the company is party to a loan agreement

that contains operating and financial covenants. These may affect the business and financing

activities in which the company can participate, or it could impact its ability to fully pursue

its strategies. The loan agreement also includes an obligation to pledge BridgeBio’s equity

interests in its subsidiaries. Any breach or default under the loan agreement could have a

negative impact on the company’s performance.

TDSecurities.com 3