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When will biotech markets get better? BridgeBio fears they may stay ‘pretty bad’ until 2024

May 24, 2022

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BridgeBio Pharma is digging in for a prolonged bear market. Since suffering a phase 3 flop late last year, the biotech has taken a series of steps to extend its cash runway, reflecting its CEO’s belief that markets could “stay pretty bad up until the end of next year.”

Neil Kumar, Ph.D., the CEO of BridgeBio, set out his thinking at an investor event early Tuesday morning. Asked about the “tumultuous events of the last several months,” Kumar detailed why he has taken steps to make sure the $633.5 million the company had at the end of March will support its “very, very busy late-stage pipeline” through to 2024.

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