BridgeBio Q2 Earnings Miss, Revenues Beat as Attruby Sales Surge

Year to date, BridgeBio’s shares have gained 11% compared with the industry’s 7% growth.

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BBIO's Attruby Sales Drive the Top Line

Attruby, which is approved for the treatment of adults with transthyretin amyloid cardiomyopathy (ATTR-CM), generated $222.4 million from product sales in the United States. The figure more than tripled from the $71.5 million recorded in the year-ago period.

Per BridgeBio, Attruby continued to gain share among treatment-naive patients, which management views as the key long-term growth driver for the franchise. Meanwhile, the pool of patients switching from Pfizer’s PFE Vyndaqel/Vyndamax, a key competing ATTR-CM therapy, has begun to normalize after elevated switching activity in prior quarters. Management expects continued first-line share gains to support sales growth going forward.

Royalty revenues increased to $15.4 million from $1.6 million, primarily reflecting Attruby sales in the EU and Japan, where it is marketed as Beyonttra.

License and services revenues fell 84% year over year to $5.8 million, as the prior-year period benefited from a $30 million regulatory milestone.

BBIO's Costs Rise on Commercial Investments

Research and development expenses increased 34% year over year to $149.4 million, reflecting continued investment in late-stage programs.

Selling, general and administrative expenses climbed 44% to $186.3 million as the company supported Attruby commercialization and pre-commercial work for upcoming launches.

As of June 30, 2026, cash, cash equivalents and marketable securities totaled $720.2 million, down from $940.2 million in the previous quarter. The figure excludes the $1 billion preferred equity financing that closed July 1, which lifted the company's cash balance to about $1.7 billion.

BBIO Advances Third Program Toward Commercial Launch

Alongside the earnings results, BridgeBio announced that it has submitted a regulatory filing with the FDA for oral infigratinib in achondroplasia. If approved, the company expects a commercial launch in mid-2027.

This marks the third regulatory filing submitted to the FDA. BridgeBio already has two filings under review — BBP-418 for limb-girdle muscular dystrophy (LGMD) type 2I/R9 (LGMD2I/R9) and encaleret for autosomal dominant hypocalcemia type 1 (ADH1). A final decision on BBP-418 is expected by Nov. 27, 2026, and on encaleret by May 8, 2027.

Commercial and medical teams are being built across the programs. More than 2,200 ADH patients had been identified under the dedicated ICD-10 code through June 2026, with about 70 new diagnoses per month.

BridgeBio Expands Late-Stage Pipeline

Beyond ADH1, the company has begun screening patients in the phase III RECLAIM-HP study on encaleret for chronic hypoparathyroidism, a condition that affects roughly 200,000 patients across the United States and Europe. Top-line data from the study are expected in late 2027 or early 2028.

Infigratinib development is also extending into hypochondroplasia, with a phase II update expected in the second half of 2026.

BridgeBio also plans to advance a transthyretin depleter, with an investigational new drug (IND) filing targeted for next year.

BBIO Zacks Rank

BridgeBio currently carries a Zacks Rank #3 (Hold).

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Some better-ranked stocks in the biotech sector are Harmony Biosciences HRMY and Liquidia Corporation LQDA, each currently sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

Over the past 60 days, earnings per share (EPS) estimates for Harmony Biosciences have risen from $3.20 to $3.65 for 2026. Over the same period, EPS estimates have increased from $3.64 to $4.04 for 2027. HRMY shares have risen about 4% year to date.

Harmony Biosciences missed on earnings in three of the trailing four quarters and met on one occasion, delivering an average negative surprise of 13.97%.

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This article originally published on Zacks Investment Research (zacks.com).

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