BridgeBio Narrows Operating Loss After Bayer Milestone

The Tip Desk · October 31, 2026 · 3 min read

Third-quarter revenue reached $353.2 million as U.S. Attruby product sales hit $253.2 million and a $75.0 million Bayer milestone lifted license income.

BridgeBio Pharma, Inc. (BBIO), a commercial-stage biopharmaceutical company focused on genetic conditions, reported third-quarter 2026 revenues of $353.2 million, up from $243.7 million in the second quarter after $194.5 million in the first.

U.S. Attruby net product revenue was $253.2 million, up approximately $31 million sequentially after $222.4 million in the second quarter and $180.6 million in the first. The company said growth was again led by the treatment-naïve segment, with both the number of newly diagnosed patients starting treatment and Attruby’s share of those starts increasing.

License and services revenue jumped to $79.3 million, including a one-time $75.0 million BEYONTTRA sales milestone from Bayer, from $5.8 million in the second quarter. Royalty revenue was $20.5 million. Rest of World Attruby net product revenue was $0.1 million.

Loss from operations narrowed to $11.6 million from a $145.2 million operating loss a year earlier, which the company attributed to increased revenue and the Bayer milestone. Net loss attributable to common stockholders was $83.0 million, or $0.42 a share, compared with $182.7 million, or $0.95 a share, in the year-ago quarter.

Total operating costs and expenses were $364.8 million. The company said the year-over-year increase reflected a $63.2 million rise in selling, general and administrative expenses for Attruby commercialization and pre-commercial work on late-stage candidates, a $30.6 million rise in research and development, and a $13.9 million increase in cost of revenues from higher Attruby volume.

Cash, cash equivalents and marketable securities were $1.5 billion as of September 30, 2026, versus $720.2 million as of June 30, 2026, a balance that excluded a $1 billion preferred equity financing that closed July 1, 2026. The company said the cash position fully funds all three planned launches and expansion indications.

Chief Commercial Officer Matt Outten said Attruby delivered another quarter of sequential growth driven by continued gains in first-line share. Chief Executive Officer Neil Kumar said three PDUFA dates fall within the next seven months: BBP-418 for LGMD2I/R9 on November 27, 2026; oral infigratinib for achondroplasia on February 4, 2027; and encaleret for autosomal dominant hypocalcemia type 1 on May 8, 2027.

About one month from the BBP-418 PDUFA date, the company said it had identified more than 500 unique U.S. patients with LGMD2I/R9. About 70% of those patients receive care through the Muscular Dystrophy Association Care Center Network. Since entering the field in August 2026, neuromuscular account managers had reached more than 70% of MDA centers and were expected to reach at least 90% by the PDUFA date. The company intends to submit a marketing authorization application to the EMA in the first half of 2028.

For encaleret in ADH1, genetically confirmed patients identified rose to more than 600, up from approximately 500 last quarter. The U.S. field team is fully deployed. The first participant was dosed in RECLAIM-HP, the Phase 3 study of encaleret in chronic hypoparathyroidism, with topline data expected in early 2028 in an estimated population of 200,000 patients in the U.S. and EU.

The first participant was also dosed in ASCEND-ATTR, a Phase 3b/4 study to prospectively test disease reversal with Attruby. BridgeBio nominated BBP-717 as a development candidate and plans to submit an IND to the FDA in 2027.