On July 11, BridgeBio Pharma fell 5.02% in regular trading, trading at approximately $85.74/share, with turnover of $345 million. The decline came amid broad-based selling pressure across the biotechnology sector, with peers including Moderna down 11.0%, Ionis Pharmaceuticals down 8.7%, Alnylam Pharmaceuticals down 4.01%, and Gilead Sciences down 3.55%.
The pullback follows a sharp two-day rally in which the stock surged over 15% after news that private equity firms KKR and Sixth Street Partners agreed to provide $1 billion in preferred equity financing to accelerate commercialization of three rare disease pipeline assets. Sixth Street led the investment with approximately $800 million, with the preferred equity convertible at an initial price of $138 per share, representing a 100% premium to the 30-day average. The financing is earmarked for advancing BBP-418, encaleret, and infigratinib toward market launch, with BBP-418 already under FDA priority review and encaleret targeting a US launch in early 2027.
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