BridgeBio Pharma to acquire remaining 36.3% shares in Eidos Therapeutics

Oct. 05, 2020 7:34 AM ETBridgeBio Pharma, Inc. (BBIO), EIDXEIDX, BBIOBy: Mamta Mayani, SA News Editor1 Comment
  • BridgeBio Pharma (NASDAQ:BBIO) and Eidos Therapeutics (NASDAQ:EIDX) have entered into an agreement under which BridgeBio has agreed to acquire all of the outstanding common stock of Eidos it does not already own, representing ~36.3% of outstanding shares.
  • Eidos stockholders will have the right to receive, either 1.85 shares of BridgeBio common stock or $73.26 in cash per Eidos share up to an aggregate maximum of $175M of cash.
  • BridgeBio will be able to invest in novel formulations and studies of acoramidis to maximize its long-term potential benefit to ATTR patients, as well as developing its commercial infrastructure.
  • Eidos completed screening in September for its Phase 3 ATTRibute-CM clinical trial of acoramidis in patients with ATTR cardiomyopathy. The study is expected to enroll more than 600 subjects with either wild-type or variant TTR across more than 80 sites in 18 countries.
  • Topline results from Part A are expected in late 2021 or early 2022 and from Part B in 2023. If Part A is successful, the company intends to file for regulatory approval of acoramidis in 2022.
  • BridgeBio expects to launch two drugs, if approved, in 2021.
  • The transaction is expected to close in Q1 2021.
  • Upon closing, Eidos will become a wholly owned subsidiary of BridgeBio and Eidos’ common stock will cease trading independently on Nasdaq.

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