July 17 (Reuters) - BridgeBio Pharma Inc's (BBIO.O) experimental drug for a rare heart disease showed significant improvement in patients in a late-stage study, sending its shares surging 65% on Monday.
BridgeBio's drug improved survival by 81% in the study patients compared to 74% on the placebo, and also reduced frequency of heart disease-related hospitalization by 50%.
The California-based company also provided additional data comparing it with Pfizer's drug.
Acoramidis showed 92% improvement on heart failure test, compared to patients on placebo and Pfizer's drug at 30 months.
The additional data suggests that BridgeBio's drug was better than tafamidis in controlling the disease, said TD Cowen analyst Tyler Van Buren.
Persons:
acoramidis, Acoramidis, Cowen, Tyler Van, Luca Issi, BridgeBio, BridgeBio's, Khushi, Nivedita Bhattacharjee
Organizations:
BridgeBio Pharma, Alnylam Pharmaceuticals, Ionis Pharmaceutical, RBC Capital, U.S . Food, Drug Administration, Thomson
Locations:
U.S, California, Tyler Van Buren, Bengaluru