Get the Latest Investment Ideas Delivered Straight to Your Inbox. Subscribe


New Drug for Bone Growth Disorder Improves Height Velocity
Research Report

View Important Disclosures for this Article
Share on Stocktwits


Phase 2 trial data at six months are positive in children with achondroplasia, noted a BTIG report.

Six-month data on BridgeBio Pharma Inc.'s (BBIO:NASDAQ) infigratinib from the PROPEL2 Phase 2 trial, Cohort 5, are consistent with earlier results and look to be significantly more efficacious as an oral drug versus injectable competitors, reported BTIG analyst Dr. Thomas Shrader in a June 19 research note.

"Low-dose infigratinib for achondroplasia continues to look best in class," Shrader wrote. "We continue to believe Part B is promising and should be a positive trial."

The genetic bone growth disorder, achondroplasia, prevents the changing of cartilage to bone, particularly in the long bones of the arms and legs.

Compelling Return on Investment

The potential gain for investors in BridgeBio is projected to be significant, according to the difference between BTIG's price target on the biotech (US$32 per share) and its current share price (US$15.01). The upside from here is an estimated 113%.

BridgeBio is a Buy.

New Results Positive

Shrader summarized the new data from the dose-finding study and compared them to previously reported ones.

Oral infigratinib was shown to significantly increase height velocity in children with achondroplasia, he noted. Cohort 5 patients administered infigratinib 0.25 milligrams per kilogram per day showed a statistically significant (p=0.001) average increase of +3.38 centimeters per year (+3.38 cm/year) in annualized height velocity (AHV) at six months. This result is higher than the AHV reported in March, which was +3.03 cm/year.

In the responder analysis, ten out of 12, or 83% of, children showed at least a 25% increase in AHV, with responders showing a mean AHV of +4.08 cm/year. Also higher this time were dose-dependent mean height z score, or ACH growth curve, changes. Further, a dose-dependent increase in collagen X, a bone growth biomarker, was seen.

Cohort 5 showed a reduction in the mean upper-to-lower body segment ratio at six months. This result was 1.84, and the baseline was 2.06.

Safety outcomes were consistent between the different data sets, with no significant adverse events or treatment-associated adverse events observed.

Upcoming Catalysts

Several events are slated to happen in the remainder of this year that could potentially boost BridgeBio's stock, Shrader noted and presented them.

Regarding infigratinib for achondroplasia, once the Phase 2 trial is completed, BridgeBio will meet with the U.S. Food and Drug Administration and European Medicines Agency.  

As for the biotech's other investigational compounds, Part B topline data are expected in late July from ATTRibute-CM, the global Phase 3 study investigating acoramidis for the treatment of symptomatic transthyretin amyloid cardiomyopathy.

A Phase 3 trial of BBP-418 in patients with limb-girdle muscular dystrophy type 2i is scheduled to start around mid-2023. BridgeBio plans to submit an investigational new drug application for BBO-8520 in H2/23.

Want to be the first to know about interesting Biotechnology / Pharmaceuticals investment ideas? Sign up to receive the FREE Streetwise Reports' newsletter. Subscribe

Important Disclosures:

  1. Doresa Banning wrote this article for Streetwise Reports LLC and provides services to Streetwise Reports as an independent contractor.
  2. The article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. This article is not a solicitation for investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company mentioned on Streetwise Reports.
  3. This article does not constitute medical advice. Officers, employees and contributors to Streetwise Reports are not licensed medical professionals. Readers should always contact their healthcare professionals for medical advice.

For additional disclosures, please click here.

Disclosures for BTIG Research, BridgeBio Pharma Inc., June 19, 2023

Analyst Certification I, Thomas Shrader, hereby certify that the views about the companies and securities discussed in this report are accurately expressed and that I have not received and will not receive direct or indirect compensation in exchange for expressing specific recommendations or views in this report. I, Sung Jun Hong, hereby certify that the views about the companies and securities discussed in this report are accurately expressed and that I have not received and will not receive direct or indirect compensation in exchange for expressing specific recommendations or views in this report.

Company–Specific Regulatory Disclosures BTIG LLC expects to receive or intends to seek compensation for investment banking services in the next 3 months from: BridgeBio Pharma, Inc. (BBIO)

Other Disclosures Additional Information Available Upon Request

General Disclosures Research reports produced by BTIG LLC (“BTIG”) are published for and intended to be distributed solely to BTIG institutional and corporate clients. Recipients of BTIG reports will not be considered clients of BTIG solely because they may have received such BTIG report. To the extent recipient accesses BTIG research, whether on a BTIG research website or through a third-party platform, BTIG is able to search, filter, download and review information on the readership of BTIG’s research, including the specific research consumed and the name, company name, email address and, in certain circumstances, the location of the individual who accessed the research (the “Readership Information”). Recipient consents to BTIG’s receipt of the Readership Information, including receipt of that information from a third party. The research analyst(s) responsible for the preparation of this report receives compensation based upon a variety of factors, including the quality and accuracy of research, internal/client feedback, and overall Firm revenues. BTIG reports are based on public information and BTIG considers the same to be reliable, comprehensive information, but makes no representation or warranty that the reports are accurate or complete. BTIG opinions and information provided in this report are as of the date of the report and may change without notice. An issuer may be classified as “Under Review” or “Research Restricted”. In these cases, investors should consider any previous investment recommendation and/or rating to a subject company/issuer to no longer be current and should not be relied upon nor considered a solicitation. This research report is not an offer to buy or sell or solicitation of an offer to buy or sell any security in any jurisdiction where such an offer or solicitation would be illegal. This research report was not drafted specifically for any particular individual or entity and is not a personal recommendation to participate in any particular trading strategy or transaction. Any recipient of this research report should obtain independent advice specific to their personal circumstances before undertaking any investment activity and must make their own independent evaluation of any securities or financial instruments.

Facts, views or opinions presented in this report have not been reviewed by, and may not reflect information known to, employees or other professionals in the “BTIG Group” (BTIG Group includes, but is not limited to, BTIG and its parents, subsidiaries and/ or affiliates). BTIG Group employees, including Sales Representatives and Traders, may provide oral or written commentary or advice that may be inconsistent with the opinions and/or views expressed in this research report. BTIG Group employees and/or ts affiliates not involved in the preparation of this research report may have investments in securities or derivatives of securities of companies mentioned in this report that are inconsistent with the views discussed in this report. Investors in securities products bear certain risks in conjunction with those investments. The value of, and income from, any investments may vary because of changes in interest rates or foreign exchange rates, securities prices or market indexes, operational or financial conditions of companies or other factors within or beyond the companies’ control. Recipient of the research reports should be aware that investments in securities may pose significant risks due to the inherent uncertainty associated with relying on forecasts of various factors that can affect the earnings, cash flow and overall valuation of a company. Any investment in securities should be undertaken only upon consideration of issues relating to the recipient’s overall investment portfolio and objectives (such as diversification by asset class, industry or company) as well as time horizon and liquidity needs. Further, past performance should not be taken as an indication or guarantee of future performance, and no representation or warranty, express or implied, is made regarding future performance.

There may be time limitations on the exercise of options or other rights in any securities transactions. Investing in foreign markets and securities, including ADRs, is subject to additional risks such as currency fluctuation, limited information, political instability, economic risk, and the potential for illiquid markets. Investing in emerging markets may accentuate these risks. Non-U.S. reporting issuers of foreign securities, however, may not make regular or complete public disclosure relating to their financial condition or the securities that they issue. The trademarks and service marks contained herein are the property of their respective owners. Third-party data providers make no warranties or representations of any kind relating to the accuracy, completeness, or timeliness of the data they provide and shall not have liability of any damages of any kind relating to such data. The report or any portion hereof may not be reprinted, sold or redistributed without the written consent of BTIG. This report is intended only for use by the recipient. The recipient acknowledges that all research and analysis in this report are the property of BTIG and agrees to limit the use of all publications received from BTIG within his, or her or its, own company or organization. No rights are given for passing on, transmitting, re transmitting or reselling the information provided.

Jurisdiction and Dissemination BTIG is a U.S. broker-dealer and member of FINRA and SIPC. BTIG Australia Limited ACN 128 554 601, member of ASIC and ASX; BTIG Hong Kong Limited, an Exchange Participant of SEHK and licensed and regulated by the SFC; BTIG Ltd, member of the LSE, authorized and regulated by the FSA; and BTIG Singapore Pte Ltd, registered and licensed with MAS; are all separate but affiliated entities of BTIG. Unless governing law permits otherwise, you must contact a BTIG entity in your home jurisdiction for further information, or if you want to use our services in effecting a transaction. Issued and approved for distribution in the UK and EEA by BTIG Ltd. to eligible counterparties and professional clients only. Issued and distributed in Australia to “wholesale clients” only by BTIG Australia Limited. In Singapore and Hong Kong, further information may be obtained from BTIG Singapore Pte Ltd and BTIG Hong Kong Limited, respectively.

Want to read more about Biotechnology / Pharmaceuticals investment ideas?
Get Our Streetwise Reports' Research Reports Newsletter Free and be the first to know!

A valid email address is required to subscribe