AstraZeneca/Ionis ATTR-CM trial failure removes rival to BridgeBio's Attruby

 

AstraZeneca/Ionis ATTR-CM trial failure removes rival to BridgeBio's Attruby, surging BBIO 11% premarket

• AZN/IONS CARDIO-TTRansform Phase 3 missed primary endpoint of CV mortality and recurrent events vs placebo.
• Eliminates key competitor to BridgeBio's approved acoramidis (Attruby) in growing ATTR-CM market.
• Attruby already generating strong sales as multi-billion blockbuster potential; ~75% of BBIO value tied to ATTR-CM.
• BBIO built 9-day winning streak (up ~14%) on pipeline progress, recent kidney data, and $1B financing.
• News triggered sharp buying in premarket July 9, with retail and biotech investors reacting swiftly on X.
• Removes near-term competitive pressure ahead of BBIO's additional launches in LGMD, ADH1, achondroplasia.

https://finviz.com/stock?t=BBIO&p=d