BridgeBio Pharma (BBIO) shares closed up over 5% today after the company reported mixed first-quarter 2025 financial results. While total revenue fell 45% year-over-year to $116.6 million compared to $211.1 million in Q1 2024, investors responded positively to news that its newly launched cardiac drug Attruby generated $36.7 million in its first full quarter of U.S. sales, showing strong market adoption with over 2,000 unique patient prescriptions.
“Attruby’s launch trajectory is exceeding our initial expectations,” said Neil Kumar, CEO of BridgeBio, during the earnings call. “We’re seeing strong uptake among cardiologists and meaningful patient engagement through our support programs.”
Key Financial Results
License and services revenue totaled $79.9 million for the quarter, primarily from a $75 million milestone payment following European approval of BEYONTTRA. However, the company reported a significantly wider net loss of $167.4 million compared to $35.2 million in the same period last year, translating to a loss of $0.88 per share versus a $0.20 loss per share in Q1 2024.
Operating expenses rose slightly to $218.4 million from $210.2 million a year ago as BridgeBio continued investing in its pipeline and commercial infrastructure. The company maintained a solid financial foundation with $540.6 million in cash and equivalents at quarter-end.
Looking ahead, BridgeBio expects to deliver three Phase 3 clinical trial readouts over the next year, potentially expanding its commercial portfolio. Analysts project the company’s annual revenue to reach $223.2 million for fiscal year 2025, with a sharp rise to $532.6 million anticipated in 2026 as product sales scale up.
The company is expected to continue operating at a loss through at least 2027 as it invests heavily in research and development, with projected losses narrowing from approximately $730 million in 2025 to $88 million by 2027.
Analyst Perspective
The market’s positive reaction suggests investors are banking on BridgeBio’s promising product portfolio and pipeline potential rather than immediate profitability, reflecting confidence in the company’s long-term growth trajectory.
Analysts following the company have positively adjusted their price targets for shares of BridgeBio following the company’s strong first-quarter results. Scotiabank’s Greg Harrison increased the target from $52 to $55, citing effective commercial execution in the early stages of Attruby’s launch.
Meanwhile, UBS’s Eliana Merle raised the target from $65 to $72, emphasizing the robust start of Attruby’s launch. Similarly, BofA’s Jason Zemansky adjusted the target from $46 to $50, noting a compelling risk/reward dynamic and a potentially undervalued pipeline.
BridgeBio Pharma is rated a Strong Buy based on the most recent recommendations of 15 analysts. The average price target for BBIO stock is $58.71, representing a potential upside of 53.05% from current levels.
