Exhibit 99.1

Eidos Therapeutics Reports Third Quarter 2019 Financial Results and Business Update

 

 

SAN FRANCISCO, October 31, 2019 —

Eidos Therapeutics, Inc. (Eidos) (Nasdaq: EIDX), a subsidiary of BridgeBio Pharma, Inc. (BridgeBio) (Nasdaq:BBIO), today reported its financial results for the third quarter ended September 30, 2019 and provided an update on the company’s recent achievements, upcoming events and chief financial officer transition plan.

 

“We continue to focus on executing our Phase 3 program studying AG10 in patients with transthyretin (TTR) amyloidosis (ATTR). Our phase 3 study in ATTR-cardiomyopathy (ATTR-CM) is enrolling patients in the US and Europe. We look forward to presenting data from the Phase 2 open label extension study at the American Heart Association (AHA),” said Neil Kumar, Ph.D., chief executive officer of Eidos. “In addition, we executed a partnership with Alexion this quarter to develop and commercialize AG10 in Japan.  This partnership brings regional resources and expertise to accelerate AG10’s development path in Japan.”

 

Recent Achievements and Upcoming Milestones

Granted Alexion Pharmaceuticals, Inc. an exclusive license to develop and commercialize AG10 in Japan for an upfront payment of $25 million and an equity investment of $25 million.

Continued enrollment in Phase 3 study of AG10 in ATTR-CM (ATTRibute-CM).

Plan to present interim analysis of the ongoing Phase 2 open label extension study of AG10 in patients with TTR amyloid cardiomyopathy at the AHA 2019 Scientific Sessions in a Late-Breaking Featured Science Oral Presentation.

Plan to initiate Phase 3 study of AG10 in ATTR-PN (ATTRibute-PN) in the first quarter of 2020.

 

Eidos also announced the transition plan of Christine Siu, chief financial officer. Ms. Siu will remain chief financial officer of Eidos until December 31, 2019, when she will transition to a senior role at Eidos’ parent company, BridgeBio. Franco Valle, Eidos’ current vice president of finance, is expected to continue leading financial operations as senior vice president of finance and principal accounting officer thereafter. “On behalf of the entire Board and executive team, I would like to thank Christine for her contributions and leadership since we founded Eidos in 2016. She has played an invaluable role in transforming the company since its founding and I look forward to continue working together at BridgeBio,” said Dr. Kumar, chief executive officer of Eidos and BridgeBio. “It has been a rewarding experience to serve as the CFO of Eidos,” said Ms. Siu. “I am proud of the Eidos team and the progress we have made bringing AG10 closer to ATTR patients in need. I believe Eidos has great potential and I look forward to continue working with the team through the parent company, BridgeBio.”

 

Third Quarter Financial Results

 

Cash and cash equivalents totaled $165.8 million at September 30, 2019 compared with $157.1 million at December 31, 2018.

 

Eidos reported a net income attributable to common stockholders of $6.9 million or $0.19 per common share, for the third quarter of 2019, as compared to a net loss attributable to common stockholders of $10.6 million or $0.30 per common share for the third quarter of 2018. The increase in net income attributable to common stockholders was driven primarily by revenue received from Alexion offset by research and development expenses related to AG10 clinical trials and other pre-clinical studies, and general and administrative expenses for operations.


The following information was filed by Eidos Therapeutics, Inc. (EIDX) on Thursday, October 31, 2019 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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