BridgeBio beat investor expectations with 1,028 unique prescriptions for ATTR-CM therapy Attruby, setting the company up to beat a 2025 sales consensus of $86 million.
BridgeBio’s shares hit a high point on Thursday morning as the company reported doubled prescription numbers for brand new med Attruby during fourth-quarter 2024 earnings.
The therapy, which was approved by the FDA to treat transthyretin amyloid cardiomyopathy (ATTR-CM) on Nov 22, 2024, had collected 1,028 unique prescriptions as of February 17, the company said. This came from 516 different prescribers.
The result was more than double the amount recorded seven weeks into launch and sets Attruby “handily north” of a current 2025 sales consensus of $86 million if the trajectory continues, Mizuho Securities said in a Thursday morning note. The firm said the launch appears to be going well, with these data in hand, adding that investors had been expecting about 800 prescriptions at this point.
In its fourth quarter earnings report, BridgeBio reported massive revenue leaps. The company’s Q4 sales jumped from $1.7 million in 2023 to $5.9 million last year, while full year revenue skyrocketed from $9.3 million two years ago to $221.9 million in 2024.
The increase in revenue for the fourth quarter this year stems from the recognition of $2.9 million in net product revenue from the first commercial sales of Attruby in the U.S., BridgeBio said. Meanwhile, the full year numbers were also boosted by licensing revenue from deals with Bayer and the Kyowa Kirin signed in 2024. The May 2024 Bayer deal included $310 million upfront for an exclusive license in Europe for Attruby, then known as acoramidis. A month earlier, Kyowa Kirin paid BridgeBio $100 million for a similar deal in Japan.
BridgeBio’s shares saw a nice boost Thursday after the earnings release, with Mizuho suggesting the doubling of prescriptions was likely to be well received by investors. The stock rose just over 5% to $38.23, the highest point it has seen in a year.
Attruby was approved for patients with cardiomyopathy of wild-type or variant ATTR-CM to reduce cardiovascular death and cardiovascular-related hospitalization. Chief Commercial Officer Matt Outten said the prescriptions have come from all patient types.
A potentially fatal condition affecting mostly older adults, ATTR-CM occurs when the TTR protein misfolds and amyloid deposits build up in the extracellular space of the heart’s muscle tissues. This causes the heart walls to become stiff, affecting the regular pumping of blood.
BridgeBio was facing a tough battle against market stalwart Vyndaqel, which is marketed by Pfizer and has been approved since 2019. Outten said the early prescription data suggests that Attruby is “delivering a much-needed change in the treatment landscape.”
In clinical trials, the drug achieved a 42% reduction in all-time death and recurrent hospitalizations, plus a 50% reduction in cardiovascular hospitalizations at 30 months, Outten said.
Attruby may not be the only newcomer on the ATTR-CM block for long. Days after approving the drug, the FDA also accepted Alnylam’s competing medicine Amvuttra for review in the same indication. The FDA will make a decision on the label expansion for Amvuttra by March 23.
