Health
BridgeBio Surges After Heart Drug Succeeds in Pivotal Trial
- Stock is trading at highest it’s been since late 2021
- Medicine may compete with Pfizer and Alnylam drugs if approved
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BridgeBio Pharma Inc. shares surged after the biotech company’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 70%, giving the company a market value of about $4.7 billion.