BridgeBio Pharma Inc. surged in trading before US markets opened after the biotech’s experimental drug cut deaths among patients suffering from a heart condition in a late-stage trial.
(Bloomberg) — BridgeBio Pharma Inc. surged in trading before US markets opened after the biotech’s experimental drug cut deaths among patients suffering from a heart condition in a late-stage trial.
Survival among patients with transthyretin amyloid cardiomyopathy who received BridgeBio’s acoramidis was 81% after 2 1/2 years, compared with 74% among patients who received a placebo, the company said Monday in a statement. The shares rose as much as 80% in trading before US markets opened.
The same drug failed in a final-stage trial at the end of 2021, when it failed to outperform a placebo treatment, and the shares slumped 72%. The Palo Alto, California-based company is now preparing to file for US market clearance, BridgeBio said Monday.
Transthyretin amyloid cardiomyopathy occurs when a misshapen version of a naturally occurring human protein gets deposited in heart tissue. About 5,000 to 7,000 new cases are identified annually in the US, according to review of data published in April.
The condition “is an increasingly recognized cause of heart failure,” said Muriel Finkel, president of Amyloidosis Support Groups advocacy group, said in the statement, and the results, “are very exciting and bring much hope to amyloidosis patients and their loved ones.”
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