Tonix Pharmaceuticals stock halted ahead of FDA approval news
BridgeBio's forward-looking statements in the press release reflect the company's expectations for the commercial success of Attruby, the progression of its clinical trials, and the potential for its pipeline candidates to become new treatments for their respective indications. Wall Street analysts share this optimism, with price targets ranging from $36.40 to $70 per share, suggesting potential upside from current levels.This report is based on a press release statement from BridgeBio Pharma (NASDAQ:BBIO), Inc. It is intended to provide a factual overview of the company's recent developments without any endorsement of claims. For a complete analysis of BridgeBio's valuation and growth prospects, access the full InvestingPro Research Report, part of our coverage of over 1,400 US stocks.
Since receiving FDA approval on November 22, 2024, Attruby, designed to treat a form of heart failure known as ATTR-CM, has seen substantial demand with 430 prescriptions written by 248 unique healthcare providers. This early success reflects the medical community's recognition of the need for new treatment options for patients with this progressive, fatal disease.
In addition to the commercial update, BridgeBio has fully enrolled participants in three major market Phase 3 clinical trials. These include FORTIFY for the potential treatment of limb-girdle muscular dystrophy type 2I/R9 (LGMD2I/R9), CALIBRATE for autosomal dominant hypocalcemia type 1 (ADH1), and PROPEL 3 for achondroplasia. Each trial is expected to complete its last patient visit and release topline results in the second half of 2025.
BridgeBio's forward-looking statements in the press release reflect the company's expectations for the commercial success of Attruby, the progression of its clinical trials, and the potential for its pipeline candidates to become new treatments for their respective indications. Wall Street analysts share this optimism, with price targets ranging from $36.40 to $70 per share, suggesting potential upside from current levels.This report is based on a press release statement from BridgeBio Pharma, Inc. It is intended to provide a factual overview of the company's recent developments without any endorsement of claims. For a complete analysis of BridgeBio's valuation and growth prospects, access the full InvestingPro Research Report, part of our coverage of over 1,400 US stocks.
Neil Kumar, Ph.D., Founder and CEO of BridgeBio, expressed gratitude for the enthusiasm surrounding Attruby's launch and optimism for the clinical trials' potential to serve patients with genetic diseases.
The press release statement also includes information on the adverse reactions associated with Attruby, which were mostly mild and resolved without the need for drug discontinuation.
BridgeBio's forward-looking statements in the press release reflect the company's expectations for the commercial success of Attruby, the progression of its clinical trials, and the potential for its pipeline candidates to become new treatments for their respective indications.
This report is based on a press release statement from BridgeBio Pharma, Inc. It is intended to provide a factual overview of the company's recent developments without any endorsement of claims.
In other recent news, BridgeBio Pharma has been making significant strides with its drug, Attruby. Piper Sandler confirmed its Overweight rating on the company's shares, highlighting the implications of potential approval for ALNY's Amvuttra in ATTR-CM, a condition targeted by Attruby. The firm suggested that Attruby's risk-adjusted sales in the United States for the year 2025 could reach $115 million, surpassing the consensus estimate of $101.6 million.
H.C. Wainwright maintained a Buy rating and a price target of $49 following BridgeBio's announcement regarding acoramidis, their treatment for a rare heart condition. The European Commission is expected to make its final approval decision potentially within the first half of 2025.
TD Cowen also reaffirmed its confidence in BridgeBio Pharma by maintaining a Buy rating on the stock, highlighting the competitive pricing of Attruby, which is projected to encourage widespread adoption of the drug.
BMO Capital Markets maintained its Market Perform rating on BridgeBio Pharma, noting the FDA approval of Attruby as a significant positive for the company. These recent developments reflect BridgeBio's active engagement in drug development and regulatory processes.
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