BridgeBio (BBIO) Q3 2026 earnings summary

Executive summary

• Attruby sustained strong growth; BBP-418, infigratinib and encaleret are planned to launch within seven months.

• Attruby/Beyonttra was annualizing above $1B in U.S. sales and higher globally, with peak-year sales potential of $4B or more.

• Q3 revenue was $353.2M, including a one-time $75M Bayer milestone; cash and marketable securities were $1.539B at quarter-end.

Financial highlights

• Q3 revenue was $353.2M vs. $120.7M; 9M revenue was $791.4M vs. $347.9M.

• U.S. Attruby net product revenue was $253.2M vs. $108.1M YoY; royalties were $20.5M vs. $4.3M, primarily from Beyonttra sales in Europe and Japan.

• Operating expenses were $344.4M; total operating costs and expenses were $364.8M, reflecting higher SG&A, R&D and cost of revenues.

• Operating loss was $11.6M vs. $145.2M; the Q3 result included the Bayer milestone and benefited from launch-spend timing.

• Q3 net loss was $60.5M; net loss attributable to common stockholders was $83.0M, including $26.3M of preferred dividends and accretion.

Outlook and guidance

• BBP-418 has a Priority Review PDUFA date of Nov. 27, 2026; low-dose infigratinib is dated Feb. 4, 2027, and encaleret May 8, 2027.

• Near-term Attruby sequential revenue growth of $25M-$30M was described as the right baseline, with growth expected to increase over time.

• Q4 OpEx is expected to catch up with launch timing, followed by steadier expense growth and an improving operating line through 2027; four brands could reach standalone profitability in 2028.

• Liquidity and Attruby collections are expected to fund operations for at least 12 months from filing; operating losses are expected for several years.

• RECLAIM-HP topline results are expected in early 2028; the Phase 3 study plans ~160 patients and uses Week 24 blood and urine calcium normalization as its primary endpoint.