Levi & Korsinsky notifies investors that it has commenced an investigation into BridgeBio Pharma, Inc. (NASDAQ: BBIO) concerning potential violations of the federal securities laws.
BridgeBio issued a press release on June 4, 2024, “announc[ing] sustained positive results from PROPEL 2, a Phase 2 trial of the investigational therapy infigratinib in children with achondroplasia, demonstrating continued potential best-in-class efficacy and an encouraging safety profile.” Despite the study’s ostensibly positive results, a Pipe Sandler analyst compared infigratinib to Voxzogo, an already approved drug produced by BioMarin Pharmaceutical Inc., opining that BridgeBio’s drug “does not appear well-differentiated from Voxzogo” and that “without any clinical differentiation, we see the competitive threat as mixed.” Following this news, BridgeBio’s stock price dropped over 13% the same day.
If you suffered a loss on your BridgeBio securities and would like to explore a potential recovery under the federal securities laws, submit to us or contact Joseph E. Levi, Esq. via email at [email protected] or call 212-363-7500 to speak to our team of experienced shareholder advocates.
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