Why Bridgebio Pharma Stock Is Imploding on Monday

Shares of Bridgebio Pharma (NASDAQ: BBIO), a clinical-stage biotechnology company, are getting crushed after the company reported a disappointing trial failure. Investors mourning the end of the acoramidis program have hammered the stock 70.7% lower as of 11:11 a.m. ET on Monday.

Acoramidis is an experimental treatment that stabilizes a transport protein called transthyretin before it breaks up and leads to heart damage. Bridgebio Pharma stock is tanking today because a phase 3 trial with acoramidis and transthyretin mediated cardiomyopathy (ATTR-CM) patients suggests it doesn't improve outcomes nearly as well as the competition.

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Source Fool.com