BridgeBio Reports Fourth Quarter and Full Year 2025 Financial Results and Commercial Updates

PALO ALTO, Calif., Feb. 24, 2026 (GLOBE NEWSWIRE) -- BridgeBio Pharma, Inc. (Nasdaq: BBIO) (“BridgeBio” or the “Company”), a commercial-stage, multi-product biopharmaceutical company focused on developing medicines for genetic conditions, announced today its financial results for the fourth quarter and full year ended December 31, 2025, and provided an update on Attruby’s commercial progress.

“As we close our first decade at BridgeBio, we’re reflecting on just how far we’ve come – from a bold idea about a new type of biotech rooted in a hub-and-spoke model to a company with incredible commercial strength and multiple late-stage successes. In a little over three months, we’ve delivered three successful Phase 3 readouts, a testament to the rigor of our science, the dedication of our teams, and the trust of the patients and physicians we serve. In all, we hope this leads to 6 approved products as our first decade draws to a close. I am excited not only to live up to our responsibilities against these assets but further to see if we can do even better,” said Co-Founder and CEO, Neil Kumar, Ph.D.

As of February 20, 2026, 7,804 unique patient prescriptions have been written by 1,856 unique prescribers since FDA approval in November 2024. The fourth quarter total revenues, net totaled $154.2 million, comprised of $146.0 million of U.S. Attruby net product revenue, $5.3 million from royalty revenue, and $2.9 million in license and services revenue. The full year 2025 net product revenue was $362.4 million.

“2025 reflected strong commercial momentum for Attruby and an important step forward as we advance three additional medicines toward potential commercialization,” said Matt Outten, Chief Commercial Officer of BridgeBio. “Attruby delivered 35% quarter-over-quarter growth in net product revenue in Q4, driven by its differentiated profile as the only near-complete stabilizer on the market, continued prescribing growth, repeat use, and patient persistence that has exceeded our expectations. As we prepare for the potential launches of BBP-418, encaleret, and infigratinib, we are intentionally applying the learnings established with Attruby. When successful, these approvals will bring BridgeBio to achieving six approved medicines, which marks a significant milestone for our platform and positions us to extend our impact to even more patients with genetic conditions.”

Attruby (acoramidis)–First and only near-complete (≥90%) transthyretin (TTR) stabilizer for treatment of transthyretin amyloid cardiomyopathy (ATTR-CM):

________________1https://jamanetwork.com/journals/jamacardiology/fullarticle/2841140

Cash, cash equivalents and marketable securities totaled $587.5 million as of December 31, 2025, compared to cash and cash equivalents of $681.1 million as of December 31, 2024. The $93.6 million decrease is primarily attributable to net cash used in operating activities of $445.9 million for the year ended December 31, 2025, the repayment of the Company’s previous term loan under its credit facility (including prepayment fees) of $459.0 million in February 2025, the repurchase of common stock of $48.3 million using proceeds from the 2031 Notes in February 2025, and payments for deferred royalty obligations of $15.5 million. These outflows were partially offset by net proceeds of $563.0 million from the issuance of the 2031 Notes in February 2025, net proceeds of $297.0 million from the execution of the Royalty Interest Purchase and Sale Agreement with HealthCare Royalty, a related party, and Blue Owl Capital in June 2025, and $19.9 million in net proceeds from equity incentive plan activities.

Total revenues, net for the three months ended December 31, 2025 were $154.2 million compared to $5.9 million for the same period in the prior year. The $148.3 million increase was primarily driven by a $143.1 million increase in net product revenue from Attruby, a $5.1 million increase in royalty revenue primarily earned on net product sales of BEYONTTRA in the EU and Japan, and a $0.1 million increase in license and services revenue.

Total revenues, net for the year ended December 31, 2025 was $502.1 million compared to $221.9 million in the prior year. The $280.2 million increase was primarily driven by a $359.5 million increase in net product revenue from Attruby and an $11.2 million increase in royalty revenue primarily earned on net product sales of BEYONTTRA in the EU and Japan. These increases were partially offset by a $90.5 million decrease in license and services revenue, reflecting the timing of recognition of upfront payments from the Company's exclusive license agreements with collaboration partners as well as regulatory-related milestones recognized upon the approval of BEYONTTRA in the EU and pricing approval in Japan.

Operating costs and expenses for the three months ended December 31, 2025 were $293.7 million compared to $231.9 million for the same period in the prior year. The $61.8 million increase was primarily driven by a $63.3 million increase in selling, general and administrative (“SG&A”) expenses largely reflecting the Company’s investments in support of the commercial launch and ongoing activities of Attruby, a $6.4 million increase in restructuring, impairment, and related charges as a result of the Company's reprioritization of its research and development (“R&D”) programs, and a $6.0 million increase in total cost of revenues, primarily due to the product costs of Attruby and royalty and license costs associated with BEYONTTRA net sales. These increases were partially offset by a $13.9 million decrease in R&D expenses primarily due to decreased R&D activities related to the Attruby and BEYONTTRA program following regulatory approval, the Company's reprioritization of its R&D programs, and license fees incurred in 2024 related to program advancements.

Operating costs and expenses for the year ended December 31, 2025 were $1.0 billion compared to $814.9 million in the prior year. The $210.6 million increase was primarily driven by a $242.3 million increase in SG&A largely reflecting the Company’s investments to support the commercial launch and ongoing activities of Attruby, a $17.1 million increase in total cost of revenues primarily due to the product costs of Attruby and royalty and license costs associated with BEYONTTRA net sales, and a $5.7 million increase in restructuring, impairment, and related charges as a result of the Company's reprioritization of its R&D programs. The increases were partially offset by a $54.5 million decrease in R&D expenses primarily due to decreased R&D activities related to the Attruby and BEYONTTRA program following regulatory approval, the Company's reprioritization of its R&D programs, and license fees incurred in 2024 related to program advancements.

Stock-based compensation expenses included in operating costs and expenses for the three months ended December 31, 2025 were $34.9 million, of which $21.6 million was included in SG&A expenses, $11.7 million was included in R&D expenses, $0.9 million was included in restructuring impairment and related charges, and $0.7 million was included in cost of goods sold. Stock-based compensation expenses included in operating costs and expenses for the same period in 2024 were $36.4 million, of which $16.4 million was included in SG&A expenses and $20.0 million was included in R&D expenses.

Stock-based compensation expenses included in operating costs and expenses for the year ended December 31, 2025 were $136.9 million, of which $84.6 million was included in SG&A expenses, $49.3 million was included in R&D expenses, $1.7 million was included in restructuring impairment and related charges, and $1.3 million was included in cost of goods sold. Stock-based compensation expenses included in operating costs and expenses for the prior year were $113.9 million, of which $63.9 million was included in SG&A expenses, $49.8 million was included in R&D expenses, and $0.2 million was included in restructuring, impairment and related charges.

Total other income (expense), net for the three months and year ended December 31, 2025, was $(55.2) million and $(209.1) million, respectively, compared to $(40.2) million and $50.8 million, respectively, for the same periods in the prior year.

The change in total other income (expense), net of $(15.0) million for the three months ended December 31, 2025, compared to the same period in the prior year was primarily due to a $30.4 million increase in noncash interest expense on deferred royalty obligations and a $4.3 million increase in net loss from equity method investments; partially offset by a $9.9 million decrease in interest expense and a $10.2 million increase in other income primarily related to the change in fair value of our derivative liability.

The change in total other income (expense), net of $259.9 million for the year ended December 31, 2025, compared to the prior year was primarily due to a $178.3 million decrease in gain on deconsolidation of subsidiaries, a $116.8 million increase in noncash interest expense on deferred royalty obligations, and a $41.4 million increase in net loss from equity method investments. These increases were partially offset by a $37.9 million decrease in interest expense, a $19.7 million increase in other income for the change in fair value of our derivative liability, a $11.1 million increase in other income primarily due to gains related to our equity method and equity security investments, and a $5.4 million decrease in loss on extinguishments of debt.

For the three months and year ended December 31, 2025, the Company recorded a net loss attributable to common stockholders of BridgeBio of $192.9 million and $724.9 million, respectively, compared to $265.1 million and $535.8 million, respectively, for the same periods in the prior year.

For the three months and year ended December 31, 2025, the Company reported a net loss per share of $1.00 and $3.78, respectively, compared to $1.40 and $2.88, respectively, for the same periods in the prior year.

(1)   The condensed consolidated financial statements as of and for the year ended December 31, 2024 are derived from the audited consolidated financial statements as of that date.(2)   Including related party amounts of $(5,383) and $(10,944) for the three months and year ended December 31, 2025, respectively.

(1)   The condensed consolidated financial statements as of and for the year ended December 31, 2024 are derived from the audited consolidated financial statements as of that date.

(1)   The condensed consolidated financial statements as of and for the year ended December 31, 2024 are derived from the audited consolidated financial statements as of that date.(2)   Including a related party amount of $2,003 as of December 31, 2025.(3)   Including a related party amount of $204,650 as of December 31, 2025.

(1)   The condensed consolidated financial statements as of and for the year ended December 31, 2024 are derived from the audited consolidated financial statements as of that date.(2)   Including a related party amount of $10,944 for the year ended December 31, 2025.(3)   Including a related party amount of $2,003 for the year ended December 31, 2025.(4)   Including a related party amount of $(2,295) for the year ended December 31, 2025.

(1)   The condensed consolidated financial statements as of and for the year ended December 31, 2024 are derived from the audited consolidated financial statements as of that date.

Webcast InformationBridgeBio will host a conference call and webcast to discuss fourth quarter and full year 2025 financial results today, February 24, 2026, at 4:30 pm ET. This event can be accessed at https://events.q4inc.com/attendee/547644683 or by visiting the “Events & Presentations” page within the Investors section of the BridgeBio website at http://investor.bridgebio.com. A replay of the webcast will be available on the BridgeBio website for 30 days following the event.

About Attruby®(acoramidis)INDICATIONAttruby is a transthyretin stabilizer indicated for the treatment of the cardiomyopathy of wild-type or variant transthyretin-mediated amyloidosis (ATTR-CM) in adults to reduce cardiovascular death and cardiovascular-related hospitalization.

IMPORTANT SAFETY INFORMATIONAdverse ReactionsDiarrhea (11.6% vs 7.6%) and upper abdominal pain (5.5% vs 1.4%) were reported in patients treated with Attruby versus placebo, respectively. The majority of these adverse reactions were mild and resolved without drug discontinuation. Discontinuation rates due to adverse events were similar between patients treated with Attruby versus placebo (9.3% and 8.5%, respectively).

About BridgeBio Pharma, Inc.BridgeBio exists to develop transformative medicines for genetic conditions. Millions of people worldwide living with genetic conditions lack treatment options, often because drug development for small patient populations can be commercially challenging. We aim to bridge the gap between advancements in genetic science and meaningful medicines for underserved patient populations. Our decentralized, hub-and-spoke model is designed for speed, precision, and scalability. Autonomous and empowered teams focus on individual conditions, while a central hub provides the clinical, regulatory, and commercial capabilities needed to bring innovation to market. For more information, visitbridgebio.comand follow us onLinkedIn,X,Facebook,Instagram,YouTube, and TikTok.

BridgeBio Pharma, Inc. Forward-Looking StatementsThis press release contains forward-looking statements. Statements in this press release may include statements that are not historical facts and are considered forward-looking within the meaning of Section 27A of the Securities Act of 1933, as amended (the Securities Act), and Section 21E of the Securities Exchange Act of 1934, as amended (the Exchange Act), which are usually identified by the use of words such as “anticipates,” “believes,” “continues,” “estimates,” “expects,” “hopes,” “intends,” “may,” “plans,” “projects,” “remains,” “seeks,” “should,” “will,” and variations of such words or similar expressions. BridgeBio intends these forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in Section 27A of the Securities Act and Section 21E of the Exchange Act. These forward-looking statements, including express and implied statements relating to the Company’s expectations regarding timing of regulatory submissions, approvals and launches, including for BBP-418 in LGMD2I/R9, encaleret in ADH1, infigratinib in achondroplasia; the timing of the Company’s clinical trials and milestones for its various programs, including RECLAIM-HP; the eligibility of BBP-418, BBP-812 and infigratinib under the Rare Pediatric Priority Review Voucher (PRV) program and related FDA review timeline; and the Company’s anticipated funding to finance its operations. Such statements reflect the Company’s current views about the Company’s plans, intentions, expectations and strategies, which are based on the information currently available to it and on assumptions the Company has made. Although the Company believes that its plans, intentions, expectations and strategies as reflected in or suggested by those forward-looking statements are reasonable, the Company can give no assurance that the plans, intentions, expectations or strategies will be attained or achieved. Furthermore, actual results may differ materially from those described in the forward-looking statements and will be affected by a number of risks, uncertainties and assumptions, including, but not limited to, initial and ongoing data from the Company’s preclinical studies and clinical trials not being indicative of final data, the potential size of the target patient populations the Company’s product candidates are designed to treat not being as large as anticipated, the design and success of ongoing and planned clinical trials, future regulatory filings, approvals and/or sales, despite having ongoing and future interactions with the FDA or other regulatory agencies to discuss potential paths to registration for the Company’s product candidates, the FDA or such other regulatory agencies not agreeing with the Company’s regulatory approval strategies, components of the Company’s filings, such as clinical trial designs, conduct and methodologies, or the sufficiency of data submitted, the continuing success of the Company’s collaborations, the Company’s ability to obtain additional funding, including through less dilutive sources of capital than equity financings, potential volatility in the Company’s share price, the impacts of current macroeconomic and geopolitical events, including changing conditions from hostilities in Ukraine and in Israel and the Gaza Strip, increasing rates of inflation and changing interest rates, on business operations and expectations, as well as those risks set forth in the Risk Factors section of the Company’s most recent Quarterly Report on Form 10-Q and Annual Report on Form 10-K and the Company’s other filings with the U.S. Securities and Exchange Commission. Moreover, the Company operates in a very competitive and rapidly changing environment in which new risks emerge from time to time. These forward-looking statements are based upon the current expectations and beliefs of the Company’s management as of the date of this press release, and are subject to certain risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. Except as required by applicable law, BridgeBio assumes no obligation to update publicly any forward-looking statements, whether as a result of new information, future events or otherwise.