Reaffirming Buy on BridgeBio Oncology: Differentiated KRASG12C Profile, Strong Early Efficacy, and Broad Keytruda Combination Potential

Analyst Robert Burns of H.C. Wainwright reiterated a Buy rating on BridgeBio Oncology Therapeutics, retaining the price target of $27.00.

Robert Burns has given his Buy rating due to a combination of factors related to BridgeBio Oncology Therapeutics’ lead asset and its clinical profile. He highlights that BBO-8520, a dual-state KRASG12C inhibitor, is showing robust early efficacy as a single agent in the Phase 1a/1b ONKORAS-101 study in KRAS-mutant NSCLC, with objective responses and progression-free outcomes that are broadly in line with a key competing program from Revolution Medicines. Importantly, he emphasizes that BBO-8520’s tolerability stands out, noting the absence of liver enzyme elevations and QTc issues in monotherapy, which may translate into a more attractive risk-benefit profile. In his view, this favorable safety data, paired with competitive activity, strengthens the drug’s potential positioning within the KRASG12C landscape.

Burns also points to the performance of BBO-8520 when combined with Keytruda in first-line KRAS NSCLC patients as an additional driver of his positive stance. The regimen has produced a high response rate that matches what has been reported for elironrasib plus Keytruda, yet responses are observed across a broad range of PD-L1 expression levels, suggesting the combination could benefit a wider subset of patients. Taken together, the combination of strong early clinical signals, differentiated safety, and competitive standing against a leading peer underpins his conviction that the company’s pipeline has meaningful value-creation potential. These elements collectively support his decision to reaffirm a Buy rating on BridgeBio Oncology Therapeutics.