BridgeBio (BBIO) Leerink Global Healthcare Conference 2026 summary

Product performance and market evolution

• Patient growth for TTR therapy accelerated from 60 to over 150 new patients weekly, driven by strong clinical data, increased disease awareness, AI diagnosis initiatives, and broader prescriber base, especially high-volume heart failure clinics.

• Attruby holds over 25% share among treatment-naive patients in the U.S., aiming for 30%+, with net pricing stable and gross-to-net in the 30%-40% range.

• In Europe, Beyonttra (acoramidis) launched first in Germany, achieving over 50% treatment-naive share due to single-payer access and favorable cross-trial comparisons; launches in Denmark and other countries are planned.

• Royalties from European sales start at 30% and can reach the mid- to high-30s percent, providing a significant income stream.

• Combination therapy is not widely used or supported by guidelines; focus remains on establishing Attruby as the most potent stabilizer, with future potential for synergistic use with depleters.

Pipeline strategy and clinical differentiation

• In-house depleter program initiated to address unmet needs in TTR by removing deposited monomers, with clinical trials expected to start late next year or early 2028.

• Achondroplasia program (infigratinib) targets FGFR3 directly, showing best-in-class height and proportionality data, with a strong safety profile and oral administration expected to drive switches from injectable therapies.

• Market expansion anticipated as oral therapy increases uptake among previously untreated children; historical analogs suggest a threefold market expansion within five years of oral entry.

• Global launch strategy for infigratinib involves a staggered rollout, starting in the U.S. and Germany, with regulatory filings and launches in Europe trailing the U.S. by 3-4 months.

• Hypochondroplasia trial enrollment exceeded expectations, with phase II data expected in the second half of this year and phase III progressing rapidly.

Financial outlook and margin profile

• All pipeline assets are small molecules with low manufacturing costs; gross margins modeled at around 95%, with minimal royalty burdens except for small royalties on Attruby and infigratinib.

• R&D expenses expected to remain flat through 2026, then decline as trials conclude; SG&A will rise with new launches but overall operating spend is projected to increase from $200M to around $300M by 2027, supporting three launches for the cost of one.

• Limb-girdle therapy demonstrated significant efficacy and is positioned as a billion-dollar-plus opportunity, targeting 2,000 identified U.S. patients at launch.

• ADH1 therapy is highly effective, normalizing calcium in over 75% of patients, with margins expected in the 70%-80% range after initial investments.

• The company holds an equity stake in GondolaBio, an early-stage R&D platform, with potential for future integration.