BioMarin's stock falls after another company's dwarfism drug moves into Phase 3 clinical trials

 Shares of BioMarin Pharmaceutical Inc. (BMRN) were down about 6.0% in premarket trading on Monday after BridgeBio Pharma Inc. (BBIO)shared positive Phase 2 clinical data about its experimental dwarfism drug, which could compete with BioMarin's Voxzogo if and when it's approved. BioMarin received Food and Drug Administration approval for Voxzogo as a treatment for some children 5 years old and older with achondroplasia in late 2021. The drug generated about $169 million in sales last year. BioMarin's stock is down 1.0% over the past three months, while the broader S&P 500 has declined 0.2%.

https://www.morningstar.com/news/marketwatch/20230306170/biomarins-stock-falls-after-another-companys-dwarfism-drug-moves-into-phase-3-clinical-trials