BridgeBio Pharma, Inc. Common Stock Wells Fargo 21st Annual Healthcare Conference

Derek, thank you for hosting us, and thanks to the investors for joining us. We are excited to speak to you today and excited for all our conversations.

Yeah. It's a great question. So state of the business today is, if you look at our post phase III drugs, right, that's in ADH1, limb-girdle, ATTR-CM, obviously, and achondroplasia. We have $8 billion of de-risked peak year sales potential. Total, if you look in the entire pipeline, we have $10 billion of risk-adjusted sales potential. So if you feel great about that, I think if you look at acoramidis second quarter global revenues were annualizing to over $1 billion. U.S. revenues were $222 million. We've been growing very nicely at about $25 million to $30 million quarter-over-quarter. We expect to keep growing at that $25 million to $30 million quarter-over-quarter cadence for acoramidis. I think all the clinical updates on acoramidis have been extremely positive.

We can get into that more and that gives me a lot of confidence that in 2027, as we launch these next three drugs, that is going to add a lot of growth. Then eventually, second half 2027, once these clinical messages take hold in the community, acoramidis is also going to start to accelerate. We feel very good about where we are. The last thing which I will say, which is important in the long-term perspective of the business is, for us, as we start to have all these revenues and generate cash flow, we think about where can we invest it. If you look at the genetic disease landscape, innovation has never been higher, unmet need has never been higher.

Yes, of course, we have to grow into all of that, and we have to do it in the right way, but we feel like we have the opportunity to help a lot of patients, and that, I think, will accrue to the benefit of our shareholders.

Yeah. There has been a lot of clinical updates in the TTR space, and so let me sort of summarize where I think we are at right now and where we see this market growing. First of all, stabilizers post CARDIO-TTRansform, it is very clear that today, as well as in the future, almost all new frontline ATTR-CM patients will start on a stabilizer. Today, that number is north of 80%. I do not think that that is going to change given what we saw in CARDIO-TTRansform. I also think that combination therapy is not really effective, and it is not going to be a big part of this market going forward. That is the second thing which we learned.

The third thing which we learned is the two knockdowns are very similar to each other, and that obviously feeds into why stabilizers are frontline, but if you look at the placebo-adjusted knockdowns, they are the same. If you look at the hazard ratio on monotherapy, they are the same. Then the last thing, which I think ESC told us, which I think is a little lost sometimes from investors, is there is meaningful room to help beyond VYNDAMAX. Obviously today, a ton of patients, majority of frontline patients start on VYNDAMAX, which makes sense given it is the established product. But we think Attruby as the next gen, second generation differentiated stabilizer, will take more and more share, and more patients will start on that drug because simply put, it is a better drug.

I think that we feel very good about where we are, whether it is because if you look at subpopulations like AFib variant, whether you look at unique nephroprotective effects of Attruby, and now what you are starting to see, which is really interesting, is real-world evidence start to come to the front, right? You have had one publication. We have heard talks about there being more independent real-world studies which are coming out, so we have to see what happens at HFSA and AHA. But I think all of that will mean that stabilizers will continue to be the frontline therapy of choice. Then over time, we do expect Attruby to keep taking more and more share and become the preferred stabilizer.

Yeah. All of our work on this front stems from what physicians tell us is most convincing to them. What we have learned is, number one, subgroup data, right? So that is why this AFib data really drove AFib and variant subgroup data, which showed that acoramidis confers a very large benefit amongst the AFib population and has the highest point estimate in the variant subpopulation. Actually, it has a stat sig benefit on variants, which is really remarkable if you think about it, given the low number of patients in that segment in the trials, right? I think that that is convincing. I think we have now built on that with this very unique nephroprotective effect that acoramidis has. That is still in its early days right now. I do not think that that message has fully gone out to the community.

We just published a paper on it a couple of months ago. I think it's going to take 6-9 months for people to fully appreciate just how profound that nephroprotective effect is that acoramidis confers. I think the third thing which we've heard from physicians is real-world evidence. Of course, the most convincing real-world evidence is when it's not published by us.

So far, there have been, I think, three studies to my understanding. One we've been involved with, the other two we haven't been involved with. Even in studies where we are not involved, you are seeing that acoramidis outperforms tafamidis in real-world settings. We hear that there is going to be a big publication at HFSA on real-world evidence, which I think will further move the field in terms of understanding how to use these drugs in the real-world setting. Those are the kinds of things which I think are going to be important. I think our job right now is to educate physicians on all these benefits which have already been generated.