BridgeBio Pharma ( (BBIO) ) has issued an update.
On February 28, 2025, BridgeBio Pharma issued $575 million in 1.75% Convertible Senior Notes due 2031 in a private offering to qualified institutional buyers. The proceeds, approximately $563 million after expenses, were used to repay outstanding borrowings under a financing agreement and to repurchase shares of its common stock, with the remaining funds allocated for general corporate purposes. This strategic financial move aims to strengthen BridgeBio’s balance sheet, reduce interest expenses, and provide greater operational flexibility, potentially impacting the company’s market position and stock price.
More about BridgeBio Pharma
BridgeBio Pharma is a biopharmaceutical company focused on discovering, creating, testing, and delivering transformative medicines for genetic diseases. Founded in 2015, the company has a pipeline that spans from early science to advanced clinical trials.
YTD Price Performance: 21.45%
Average Trading Volume: 2,640,453
Technical Sentiment Consensus Rating: Sell
Current Market Cap: $6.51B
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