Bridgebio Pharma

I bought $XFOR (-0.08%) and reinforced $RCKT (-0.09%) and $BBIO (+0.47%) after selling $BPMC (-0.14%) with +18% (3.20% of the portfolio) $BBIO (+0.47%) O now with 3.45% of the portfolio, pm 21.90

I reinforced $BBIO (+0.47%)

Data from the$ALNY (+2.13%) Y study came out (for me they are worse than those from BBIO)

"I think part of BBIO's undervaluation is due to the market structure and the fact that BBIO has 2 “next generation medicines” that compete with other public companies.

Much of the work multistrat analysts do today is talking to competitors.

And what results does this bring to BBIO?

- BMRN is scared to death. Nobody wants to buy them. They have an activist breathing down their neck. They do not have a viable pipeline and their biggest growth driver/product will be made obsolete by BBIO in many ways. Do you expect them to talk about BBIO?

- The PFE is attacking Tafamidis. The price is exorbitant for a cardiovascular drug. They are telling everyone that their drug will go generic in 2028 to avoid payer resistance/cost management.

- ALNY also relies heavily on TTR-CM for its future growth. It's literally the difference between a potentially $70 stock and a $250 one. And their data – at least so far – isn't as solid as they'd hoped. Do you think they will be talking about stabilizers? Of course.

This, of course, creates an opportunity for long-term fundamental investors.

(I also think the momentum will continue for ALNY. Of course they will only share data cuts that make them look good. If the Vutri mono outperforms the Acoramidis mono, they will talk a lot about it. If it doesn't, they won I don't talk about it...)"