BridgeBio rises after $550 mln convertible debt offering

BridgeBio Pharma

16/01/2026 14:35

** BridgeBio Pharma BBIO.O shares up 0.5% at $76.63 early Fri after co secures capital raise

** Genetic diseases-focused biopharma early Fri announced pricing private offering of $550 mln 0.75% 7-yr convertible bonds (CBs)

** Initial conversion price of $110.58 set 45% above stock's last close of $76.26

** BBIO fell 2% on Thurs after co unveiled the offering late Weds to prefund the repayment of its $550 mln principal 2.5% CBs due 2027, and for general corp purposes

** Co also plans to use up to $82.5 mln of cash on hand to repurchase stock from the new CB purchasers to facilitate hedging transactions

** Palo Alto, California-based co has about $15 bln market cap

** With the move on the session, stock up 125% over the past 12 months and hit record intraday high of $79.88 on Tues

** All 20 analysts are bullish, including 6 "strong buy" ratings; median PT $86, per LSEG data

(Lance Tupper is a Reuters market analyst. The views expressed are his own)

((lance.tupper@tr.com 1-646-279-6380))