BBIOBridgeBio Pharma, Inc.
Pharmaceutical Preparations
- Revenue
- $502M
- 126% YoY
- Operating margin
- -104.2%
- 61% YoY
- EBITDA
- −$518M
- 12% YoY
- Market cap
- $14.7B
- Employees
- 834
- $602K revenue each
- Net debt / EBITDA
- —
- $1.1B net debt
- AI in 10-K
- 1.5
- mentions per 10K words
Takeover score 4 of 13
Fixable underperformance 2 of 7
- TSR below peersYes5 of 5 years3+ of last 5 years
- High CEO pay despite TSRNo$15M medianMedian CEO pay ≥ $15M while TSR trails
- Earnings not backed by cashNo—Cash flow under 80% of net income
- Dilutive SBCYes26% of revenueOver 10% of revenue
- Payouts exceed cash flowNo-11% of cash flowBuybacks + dividends over cash flow
- Goodwill-heavyNo—Over 40% of assets
- Shareholder dissentNo80% lowest supportAny vote under 80% support
Buyer economics 0 of 4
- Low revenue per employeeNo$602K · 60th pctBottom quartile of its SIC industry
- Quiet on AINo1.5 per 10K words · 46th pctBottom quartile of AI mentions in 10-Ks
- Net cashNo—More cash than debt, positive EBITDA
- Buyout-sizedNo$14.7B market capMarket cap $500M–$5B
Catalysts 2 of 2
- Active 13DYes2 filingsActive-intent 13D in 18 months
- Net insider sellingYes−$105M netNet sales over $10M in 12 months
Financials
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | YoY |
|---|---|---|---|---|---|---|
| Revenue | $70M | $78M | $9M | $222M | $502M | 126% |
| Operating income | −$577M | −$512M | −$607M | −$593M | −$523M | 12% |
| Operating cash flow | −$498M | −$419M | −$528M | −$521M | −$446M | 14% |
| Capex | $13M | $5M | $1M | $933K | $1M | 18% |
| Stock-based comp | $100M | $92M | $109M | $96M | $133M | 39% |
| Buybacks | $200M | $0 | $0 | $0 | $48M |
Deal filings
| Filed | Form | Acquirer | Price | Premium |
|---|---|---|---|---|
| Dec 15, 2020 | DEFM14A | — | $73.26 | 41% |
13D filers
| Filed | Filer | Form | Stake | Intent |
|---|---|---|---|---|
| Aug 17, 2026 | KKR Genetic Disorder L.P. | SCHEDULE 13D/A | 4.7% | Passive |
| Jul 10, 2026 | VIKING GLOBAL INVESTORS LP | SCHEDULE 13D/A | 5.0% | Passive |
| Apr 2, 2026 | VIKING GLOBAL INVESTORS LP | SCHEDULE 13D/A | 6.1% | Passive |
| Feb 17, 2026 | VIKING GLOBAL INVESTORS LP | SCHEDULE 13D/A | 6.8% | Passive |
| Nov 14, 2025 | VIKING GLOBAL INVESTORS LP | SCHEDULE 13D/A | 8.2% | Active |
| Aug 14, 2025 | VIKING GLOBAL INVESTORS LP | SCHEDULE 13D/A | 9.3% | Passive |
| Jul 1, 2025 | VIKING GLOBAL INVESTORS LP | SCHEDULE 13D/A | 9.8% | Active |
| May 14, 2025 | KKR Genetic Disorder L.P. | SCHEDULE 13D/A | 7.0% | Passive |
| Mar 12, 2025 | VIKING GLOBAL INVESTORS LP | SCHEDULE 13D/A | 11.7% | Passive |
| Mar 7, 2025 | KKR Genetic Disorder L.P. | SCHEDULE 13D/A | 10.1% | Passive |
Insider trading
- Open-market buys, 12 mo
- $0 · 0
- Open-market sells, 12 mo
- $105M · 153
- Net
- −$105M
Pay vs performance
| Year | CEO total comp | Comp actually paid | TSR (indexed) | Peer TSR |
|---|---|---|---|---|
| FY2025 | $15M | $75M | 108 | 125 |
| FY2024 | $16M | −$3M | 39 | 93 |
| FY2023 | $12M | $70M | 57 | 94 |
| FY2022 | $7M | −$11M | 11 | 90 |
| FY2021 | $26M | −$133M | 23 | 100 |