BridgeBio (BBIO) investor relations material

Executive summary

• Q1 2026 revenues reached $194.5 million, driven by $180.6 million in U.S. Attruby net product revenue, strong patient and prescriber growth, and increased royalties from Beyonttra sales in Europe and Japan.

• Three major NDA submissions are planned for 2026: BBP-418 for LGMD2I/R9 (already submitted), encaleret (ADH1), and infigratinib (achondroplasia), each with differentiated clinical profiles and robust commercial infrastructure.

• A $500 million share repurchase program was authorized in May 2026, reflecting confidence in intrinsic value and capital allocation discipline.

• Real-world evidence and clinical data reinforce Attruby's differentiation, showing significant reductions in diuretic intensification and mortality compared to tafamidis.

• Net loss for Q1 2026 was $166.6 million, a slight improvement from Q1 2025, reflecting higher revenues offset by increased operating expenses.

Financial highlights

• Total Q1 2026 revenue was $194.5 million, up from $116.6 million in Q1 2025, driven by $180.6 million in Attruby net product revenue (24% sequential, 392% YoY growth) and $9.5 million in royalty revenue.

• License and services revenue declined to $4.4 million due to a prior year one-time milestone.

• Operating expenses rose to $300.5 million, mainly due to higher R&D and SG&A investments.

• Net loss per share was $0.84 in Q1 2026, compared to $0.88 in Q1 2025.

• Cash, cash equivalents, and marketable securities totaled $940.2 million as of March 31, 2026, up from $587.5 million at year-end.

Outlook and guidance

• Three critical product launches are anticipated over the next 12 months, with U.S. launches for BBP-418, encaleret, and infigratinib targeted for late 2026 to early/mid 2027.

• Loss from operations expected to flatten over the next two quarters, then narrow toward P&L breakeven and sustainable cash flow by late 2026 or 2027.

• Cash position expected to fund operations for at least the next 12 months, with ongoing evaluation of cost structure and potential for additional capital raises if needed.

• Attruby projected to be a $4 billion drug, with continued growth expected beyond 2032.

• Additional clinical data for key programs will be presented at major medical conferences in 2026.