[Special Stock] BridgeBio Hits Lower Limit Following Clinical Trial Failure News

On the morning of the 15th, immediately after the opening at 9 a.m., the stock price of Bridge Biotherapeutics, a new drug development company, plunged to the lower limit on the KOSDAQ market, falling to 6,280 won. This appears to be due to the news of clinical trial failure of its key pipeline announced after the market closed the previous day.

On the 14th, Bridge Biotherapeutics disclosed the topline data of the global Phase 2 clinical trial for its idiopathic pulmonary fibrosis (IPF) treatment candidate 'BBT-877,' stating that it failed to confirm a significant improvement in the primary endpoint, the change in forced vital capacity (FVC) at 24 weeks.

Idiopathic pulmonary fibrosis is a rare disease in which lung tissue gradually hardens, leading to decreased lung function. It is known that the average survival period is only 3 to 5 years.

Previously, in 2019, Bridge Biotherapeutics signed a technology transfer agreement worth 1.5 trillion won for BBT-877 with Boehringer Ingelheim. Based on this, Bridge Biotherapeutics succeeded in listing through a technology special listing. However, in 2020, Boehringer Ingelheim returned the rights due to potential toxicity issues, and since then, Bridge Biotherapeutics has been pursuing independent development.

Bridge Biotherapeutics was designated as a KOSDAQ management item at the end of last month in accordance with the Korea Exchange regulation that limits the loss before corporate tax expense (operating loss) exceeding 50% of equity capital more than twice in three years.

Regarding future plans, Bridge Biotherapeutics stated, "We plan to prioritize detailed analysis of the results for the idiopathic pulmonary fibrosis indication of BBT-877." They added, "Since no particular issues were found in the adverse effect profile, we will actively consider additional indications for BBT-877." Furthermore, they said, "We have other projects such as BBT-207 and BBT-301, so if necessary, we will readjust priorities."