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The filed complaint alleges that BridgeBio Pharma, Inc. made materially false and/or misleading statements and/or failed to disclose that: 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.
In order to be eligible to join the BBIO class action lawsuit, you must have incurred a loss on shares of BridgeBio purchased during the class period listed above.
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