BridgeBio Pharma BBIO announced dismal top-line data from part A of a two-part ongoing phase III study — ATTRibute-CM — evaluating its lead pipeline candidate, acoramidis, for the treatment of symptomatic transthyretin (TTR) amyloid cardiomyopathy (ATTR-CM). Data from the study demonstrated that after 12 months of treatment with acoramidis, the candidate failed to meet the study’s primary endpoint of improvement in the six-minute walk distance (6MWD) test relative to placebo.

The treatment with acoramidis achieved a mean decline of 9 meters in the 6MWD test versus 7 meters for placebo in symptomatic ATTR-CM patients.

BridgeBio had planned to file a regulatory application seeking approval for acoramidis as a potential treatment for symptomatic ATTR-CM in 2022, if the candidate achieved a highly statistically significant improvement in 6MWD scores versus placebo in part A of the ATTRibute-CM study. However, failure to achieve relative improvement in the 6MWD score over placebo will cause a significant delay in any regulatory submission for the candidate.

However, the candidate improved quality of life and also improved NT-proBNP and stabilized serum transthyretin (TTR) levels — biomarkers for increased risk of heart failure.

The independent data monitoring committee for the ATTRibute-CM study recommended the company to continue the study despite the unexpected performance of the six-minute walk test. The company and the committee believe that acoramidis holds potential to demonstrate improvement in all-cause mortality and cardiovascular hospitalizations after 30 months of treatment.

The company is now waiting for data from part B of the ATTRibute-CM study that will continue to evaluate the candidate in study participants for 30 months, including the 12 months of part A of the study. The primary endpoint of part B of the ATTRibute-CM study is to demonstrate benefit in change from baseline in hierarchical comparison including all-cause mortality and cardiovascular hospitalizations after 30 months.

The failure hurt investor sentiments badly as shares plunged almost 72% on Dec 27. In fact shares of BridgeBio have declined 84% so far this year compared with the industry’s decrease of 15.7%.

Image Source: Zacks Investment Research

Apart from acoramidis, BridgeBio has three other promising candidates — encaleret, infigratinib and BBP-631 — in its pipeline in early to mid-stage clinical studies.

A phase IIb study is evaluating encaleret as a potential treatment for autosomal dominant hypocalcemia type 1 (ADH1), a rare form of hypoparathyroidism caused by mutations in the CASR gene. Updated data from the study demonstrated that treatment with encaleret normalized mean blood calcium levels and 24-hour urine calcium excretion within five days. The company plans to initiate a phase III study to evaluate the candidate for ADH1 next year.

A mid-stage study is evaluating infigratinib in patients with achondroplasia, a form of dwarfism. Initial data from the study is expected in the first half of 2022. In November, BridgeBio initiated a phase I/II study to evaluate its gene therapy candidate, BBP-631, as a potential treatment for congenital adrenal hyperplasia, a group of genetic disorders that affect the adrenal glands.

Data from the ongoing studies will be catalysts for BridgeBio’s stock in 2022.

BridgeBio Pharma, Inc. price | BridgeBio Pharma, Inc. Quote

BridgeBio currently carries a Zacks Rank #3 (Hold).

Some better-ranked stocks from the biotech sector include Vascular Biogenics VBLT, Aptose Biosciences APTOand IVERIC bio ISEE, all carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Loss per share estimates for Vascular Biogenics have narrowed from 44 cents to 42 cents for 2021 and from 40 cents to 37 cents for 2022 in the past 60 days.

Shares of Vascular Biogenics have risen 3.7% so far this year.

Loss per share estimates for Aptose have improved from 68 cents to 66 cents for 2021 and from 92 cents to 78 cents for 2022 in the past 60 days.

Aptose delivered an earnings surprise of 7.02%, on average, in the last four quarters.

Loss per share estimates for IVERIC bio have improved from $1.18 to $1.09 for 2021 and from $1.17 to $1.03 for 2022 in the past 60 days.

IVERIC bio’s stock has surged 137.9% so far this year.

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Vascular Biogenics Ltd. (VBLT) : Free Stock Analysis Report Aptose Biosciences, Inc. (APTO) : Free Stock Analysis Report IVERIC bio, Inc. (ISEE) : Free Stock Analysis Report BridgeBio Pharma, Inc. (BBIO) : Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research

The major stock market indexes relinquished morning gains in afternoon trading on Friday, dropping to lows for the day. Market players hit the exits on news that Russia will suspend natural gas pipeline shipments to Germany. The Nasdaq changed course, now down 0.5%. The S&P 500 has shed 0.2% while the Dow Jones Industrial Average has dropped 0.2%. The Russell...

‘Rich Dad Poor Dad’ sees a window to get rich. He might be right.

(Bloomberg) -- Amazon.com Inc., determined to reduce the size of its sprawling delivery operation amid slowing sales growth, has abandoned dozens of existing and planned facilities around the US, according to a closely watched consulting firm. Most Read from BloombergAmazon Closes, Abandons Plans for Dozens of US WarehousesGazprom Won’t Reopen Gas Pipeline in Energy Shock to EuropeStocks Suffer Third Weekly Loss on Rate-Hike Woes: Markets WrapLukoil Chairman Ravil Maganov Dies After Falling From

Nio's August deliveries soared year over year, but there are plenty of clouds on the horizon too.

Yahoo Finance's Ines Ferré discusses how stocks are performing into the closing bell.

Cathie Wood's ARK Invest cut its stake in Nvidia ahead of the graphic chipmaker's results last month. Now it's snapped up the stock which has dropped to a 52-week low.

When a loved one passes away, it can be an emotional experience. Unfortunately, handling the deceased's finances can add to this stress. While most people know that you need to file a final tax return for the deceased, most people … Continue reading → The post Income in Respect of a Decedent (IRD) appeared first on SmartAsset Blog.

Orchid Island Capital Corp. (NYSE: ORC) is a finance company that acquires, invests in and offers financing from U.S. residential mortgage-backed securities (MBS). The Florida mortgage real estate investment trust (REIT) initiated an IPO in March 2013 at a price of $14.50. Its monthly dividend of $0.135 returned an approximate annual yield of 11%. However, in the last few years, the stock price has floundered, and ORC has reduced its dividend payment several times. Orchid’s price had recently be

Donald Trump wanted to disrupt the hegemony of the Silicon Valley giants. Things don't seem to be going the way the former president wanted.

Five years after Amazon announced that it would buy supermarket chain Whole Foods for $13.7 billion, a big new change has just taken place -- on September 1, incoming chief executive Jason Buechel is taking over for John Mackey. "As a co-founder of Whole Foods, I've often explained my relationship to the company with a parent-child metaphor," Buechel wrote in a letter announcing his retirement to Whole Foods Staff in September 2021. The transition took nearly a year and, now, former Chief Operating Officer Jason Buechel is stepping in to lead the high-end supermarket chain.

Some investors will be getting a bit of money back soon, the result of a big settlement between financial firm Vanguard and the Massachusetts Secretary of State. The $6.25 million settlement has to do with allegations that the firm failed … Continue reading → The post Does Vanguard Owe You Money? It's Paying Investors Millions appeared first on SmartAsset Blog.

KeyBanc Capital Markets Equity Research Analyst John Vinh joins Yahoo Finance Live to discuss Broadcom earnings, chip stocks, supply chain issues, U.S. government banning the export of chips to China, and the outlook for the space.

Reconnaissance Energy Africa Ltd. (the "Company" or "ReconAfrica") (TSXV: RECO) (OTCQX: RECAF) (Frankfurt: 0XD) is pleased to announce the appointment of Michelle Borthwick to the position of Corporate Secretary.

Electric vehicle (EV) charging network company ChargePoint Holdings (NYSE: CHPT) gave investors a mixed fiscal 2023 second-quarter earnings report earlier this week. ChargePoint exceeded the high end of its prior guidance for revenue. The company had told investors to expect revenue of between $96 million and $106 million for the period, and it achieved $108.3 million in sales.

The S&P 500 broke below 4,000 this week, for the first time since the end of July. It has investors wondering: Does this mark the low point of a roller coaster ride? Stocks rose all last year, fell from January to June, rallied from July to mid-August, and now are falling again. According to Wells Fargo strategist Paul Christopher, it’s evidence that the stock rally is sputtering to a halt. Christopher writes that “Cracks in financial market liquidity are appearing,” and says of the S&P 500, “3,

Ready to go bottom fishing again? Any good angler can tell you that there’s plenty of good eating just waiting at the bottom of the creek, or the pond, or the lake. The same concept also holds for stocks – investors can always find some quality equities down at the market bottoms. Stocks get down there for a multitude of reasons, and the reasons aren’t always related to any fundamental flaw in the company or its share trading policies. Sometimes, it’s some idiosyncratic business move, or over-re

Two U.S. military veterans have reportedly sued 3M Co (NYSE: MMM) to block the planned spinoff of its healthcare business, calling it an illegal attempt to not compensate veterans for hearing damage caused by the company's military-issue earplugs. The veterans' lawsuits allege that the earplugs failed to protect their hearing in combat or training. Reuters reported that the case is expected to go before U.S. District Judge M. Casey Rodgers, overseeing over 220,000 lawsuits over the earplugs. Rel

Finally, investors have a good reason for why the U.S. stock market will suffer above-average volatility and below-average performance this month: It’s the Fed. Relatively few advisers are focusing on this outcome — at least among the more than 100 I regularly monitor.

Aurora Cannabis, Canopy Growth, OrganiGram Holdings, and Tilray Brands are all in the red yet again today.

A deposition scheduled for next week could significantly steer the outcome of Twitter’s (TWTR) trial-bound push to force Elon Musk into his $44 billion deal to acquire the social network.