0000950170-22-014824 | 10-Q | XBRL Viewer | Bridgebio Pharma INC

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Notes to Financial Statements Eidos License and Collaboration Agreements Sale of Nonfinancial Assets Notes Tables Cash Equivalents and Marketable Securities (Tables) Notes Details Share Repurchase Program and Shelf Registration - Additional Information (Details) Uncategorized Uncategorized Items - bbio-20220630_htm.xml All Reports

Label

Element

Value

Schedule Of Potential Milestone Amounts And Accruals Table [Text Block]

bbio_ScheduleOfPotentialMilestoneAmountsAndAccrualsTableTextBlock

The table below shows our commitment for the potential milestone amounts and the accruals for milestones deemed probable of achievement as of June 30, 2022.


		Potential Fixed Monetary Amount				Accrued Amount (1)
Settlement Type		(in thousands)
Cash		$	10,313			$	996
Stock (2)			96,695				15,850
Cash or stock at our sole discretion			127,696				3,527
Total		$	234,704			$	20,373

(1)

Amount recorded for performance-based milestone awards that are probable of achievement.

Includes the performance-based milestone awards that were granted as part of the Exchange Program further discussed in Note 15.

Estimated Fair Value of Outstanding Term Loan

bbio_EstimatedFairValueOfOutstandingTermLoan

$ 401,200,000

Initial Transaction Price For License And Collaboration Agreement

bbio_InitialTransactionPriceForLicenseAndCollaborationAgreement

90,000,000.0

Initial Transaction Price For License And Collaboration Agreement

bbio_InitialTransactionPriceForLicenseAndCollaborationAgreement

46,000,000.0

Initial Transaction Price For License And Collaboration Agreement

bbio_InitialTransactionPriceForLicenseAndCollaborationAgreement

56,000,000.0

Potential Milestone Fixed Monetary Amount Settlement In Cash Or Stock At Sole Discretion

bbio_PotentialMilestoneFixedMonetaryAmountSettlementInCashOrStockAtSoleDiscretion

$ 127,696,000

Debt Instrument Prepayment Premium Percentage

bbio_DebtInstrumentPrepaymentPremiumPercentage

1.00%

Debt Instrument Prepayment Premium Percentage

bbio_DebtInstrumentPrepaymentPremiumPercentage

3.00%

Increase in Initial Transaction Price for License and Collaboration Agreement

bbio_IncreaseInInitialTransactionPriceForLicenseAndCollaborationAgreement

$ 10,000,000.0

Short Term Marketable Securities Contractual Maturities

bbio_ShortTermMarketableSecuritiesContractualMaturities

6 months

Short Term Marketable Securities Contractual Maturities

bbio_ShortTermMarketableSecuritiesContractualMaturities

6 months

Potential Milestone Payments

bbio_PotentialMilestonePayments

$ 0

Potential Milestone Payments

bbio_PotentialMilestonePayments

2,450,000,000

Sale Of Existing Inventory

bbio_SaleOfExistingInventory

1,000,000.0

Allocation Of Transaction Price To Licenses

bbio_AllocationOfTransactionPriceToLicenses

70,200,000

Allocation Of Transaction Price To Licenses

bbio_AllocationOfTransactionPriceToLicenses

54,400,000

Warrants Fair Value Disclosure

bbio_WarrantsFairValueDisclosure

751,000

Warrants Fair Value Disclosure

bbio_WarrantsFairValueDisclosure

751,000

Warrants Fair Value Disclosure

bbio_WarrantsFairValueDisclosure

2,141,000

Warrants Fair Value Disclosure

bbio_WarrantsFairValueDisclosure

2,141,000

Potential Milestone Accrued Amount Settlement In Stock

bbio_PotentialMilestoneAccruedAmountSettlementInStock

15,850,000

^[1],[2]

Accrual for Milestones Not Probable

bbio_AccrualForMilestonesNotProbable

0

Launch Milestone Payment

bbio_LaunchMilestonePayment

25,000,000.0

Assets Acquisition Required Milestone Payments

bbio_AssetsAcquisitionRequiredMilestonePayments

18,800,000

Assets Acquisition Required Milestone Payments

bbio_AssetsAcquisitionRequiredMilestonePayments

1,000,000.0

Issuance Repurchase Of Noncontrolling Interest

bbio_IssuanceRepurchaseOfNoncontrollingInterest

89,000

Issuance Repurchase Of Noncontrolling Interest

bbio_IssuanceRepurchaseOfNoncontrollingInterest

89,000

Issuance Repurchase Of Noncontrolling Interest

bbio_IssuanceRepurchaseOfNoncontrollingInterest

4,686,000

Issuance Repurchase Of Noncontrolling Interest

bbio_IssuanceRepurchaseOfNoncontrollingInterest

4,686,000

Issuance Repurchase Of Noncontrolling Interest

bbio_IssuanceRepurchaseOfNoncontrollingInterest

5,080,000

Issuance Repurchase Of Noncontrolling Interest

bbio_IssuanceRepurchaseOfNoncontrollingInterest

5,080,000

Issuance Repurchase Of Noncontrolling Interest

bbio_IssuanceRepurchaseOfNoncontrollingInterest

5,000

Issuance Repurchase Of Noncontrolling Interest

bbio_IssuanceRepurchaseOfNoncontrollingInterest

$ 5,000

Schedule Of Supplemental Cash Flow Information Related To Leases Table [Text Block]

bbio_ScheduleOfSupplementalCashFlowInformationRelatedToLeasesTableTextBlock

Supplemental cash flow information related to leases are as follows:


		Six Months Ended June 30,
		2022				2021
		(in thousands)
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows for operating leases		$	3,348			$	2,858
Operating cash flows for finance lease			212				85
Operating lease right-of-use assets obtained in exchange for operating lease obligations			240				4,041

Regulatory Milestone Payments Term

bbio_RegulatoryMilestonePaymentsTerm

4 years

Upfront Regulatory And Launch Milestone Payments Yet To Be Received

bbio_UpfrontRegulatoryAndLaunchMilestonePaymentsYetToBeReceived

$ 815,000,000.0

Upfront Regulatory And Launch Milestone Payments Yet To Be Received

bbio_UpfrontRegulatoryAndLaunchMilestonePaymentsYetToBeReceived

100,000,000.0

Temporary Equity Transfer To From Noncontrolling Interest

bbio_TemporaryEquityTransferToFromNoncontrollingInterest

(47,000)

Temporary Equity Transfer To From Noncontrolling Interest

bbio_TemporaryEquityTransferToFromNoncontrollingInterest

144,000

Temporary Equity Transfer To From Noncontrolling Interest

bbio_TemporaryEquityTransferToFromNoncontrollingInterest

517,000

Temporary Equity Transfer To From Noncontrolling Interest

bbio_TemporaryEquityTransferToFromNoncontrollingInterest

(3,618,000)

Upfront Payment Yet To Be Received

bbio_UpfrontPaymentYetToBeReceived

90,000,000.0

Contractual Obligation Interest Portion

bbio_ContractualObligationInterestPortion

117,732,000

Contractual Obligation Interest Portion

bbio_ContractualObligationInterestPortion

68,750,000

Contractual Obligation Interest Portion

bbio_ContractualObligationInterestPortion

186,482,000

Contractual Obligation Interest Portion

bbio_ContractualObligationInterestPortion

$ 185,650,000

Number Of Options Issued In Exchange Of Subsidiary Equity

bbio_NumberOfOptionsIssuedInExchangeOfSubsidiaryEquity

1,268,110

Number Of Options Issued In Exchange Of Subsidiary Equity

bbio_NumberOfOptionsIssuedInExchangeOfSubsidiaryEquity

70,436

Number Of Options Issued In Exchange Of Subsidiary Equity

bbio_NumberOfOptionsIssuedInExchangeOfSubsidiaryEquity

2,776,672

Number Of Restricted Stock Units Issued In Exchange Of Subsidiary Equity

bbio_NumberOfRestrictedStockUnitsIssuedInExchangeOfSubsidiaryEquity

25,972

Contractual Obligation Exit Fee

bbio_ContractualObligationExitFee

$ 8,598,000

Debt Instrument Interest Only Extension Date

bbio_DebtInstrumentInterestOnlyExtensionDate

Jun. 01, 2024

Allocation Of Transaction Price for Research and Development

bbio_AllocationOfTransactionPriceForResearchAndDevelopment

$ 19,800,000

Lease Agreement Expiration

bbio_LeaseAgreementExpiration

5 years

Derecognition of Capitalized Finite Lived Intangible Asset Net

bbio_DerecognitionOfCapitalizedFiniteLivedIntangibleAssetNet

$ 13,500,000

License Agreement Percentage Share Of Profits And Losses

bbio_LicenseAgreementPercentageShareOfProfitsAndLosses

50.00%

Number Of Employees For Replacement Awards

bbio_NumberOfEmployeesForReplacementAwards

88

Incremental Compensation Cost For Awards Modification

bbio_IncrementalCompensationCostForAwardsModification

$ 0

New Accounting Pronouncement Effect Of Adoption

bbio_NewAccountingPronouncementEffectOfAdoption

10,000,000.0

Regulatory and Sales-based Milestone Payments Yet to be Received

bbio_RegulatoryAndSalesBasedMilestonePaymentsYetToBeReceived

66,000,000.0

L E O Call Option Liability Current

bbio_LEOCallOptionLiabilityCurrent

$ 0

Debt Instrument Mandatory Prepayments Percentage of Net Cash Proceeds from Prepayment Event Transaction

bbio_DebtInstrumentMandatoryPrepaymentsPercentageOfNetCashProceedsFromPrepaymentEventTransaction

50.00%

Debt Instrument Mandatory Prepayments Percentage of Net Cash Proceeds from Prepayment Event Transaction

bbio_DebtInstrumentMandatoryPrepaymentsPercentageOfNetCashProceedsFromPrepaymentEventTransaction

75.00%

Fair Value Assets Transfers Between Level One Level Two Or Level Three Amount

bbio_FairValueAssetsTransfersBetweenLevelOneLevelTwoOrLevelThreeAmount

$ 0

Fair Value Assets Transfers Between Level One Level Two Or Level Three Amount

bbio_FairValueAssetsTransfersBetweenLevelOneLevelTwoOrLevelThreeAmount

0

One Time Fees Receivable Noncurrent

bbio_OneTimeFeesReceivableNoncurrent

10,000,000.0

Temporary Equity Carrying Amount Net Including Portion Attributable To Noncontrolling Interests

bbio_TemporaryEquityCarryingAmountNetIncludingPortionAttributableToNoncontrollingInterests

(1,499,000)

Temporary Equity Carrying Amount Net Including Portion Attributable To Noncontrolling Interests

bbio_TemporaryEquityCarryingAmountNetIncludingPortionAttributableToNoncontrollingInterests

1,423,000

Temporary Equity Carrying Amount Net Including Portion Attributable To Noncontrolling Interests

bbio_TemporaryEquityCarryingAmountNetIncludingPortionAttributableToNoncontrollingInterests

1,423,000

^[3]

Temporary Equity Carrying Amount Net Including Portion Attributable To Noncontrolling Interests

bbio_TemporaryEquityCarryingAmountNetIncludingPortionAttributableToNoncontrollingInterests

336,000

Temporary Equity Carrying Amount Net Including Portion Attributable To Noncontrolling Interests

bbio_TemporaryEquityCarryingAmountNetIncludingPortionAttributableToNoncontrollingInterests

(1,499,000)

Temporary Equity Carrying Amount Net Including Portion Attributable To Noncontrolling Interests

bbio_TemporaryEquityCarryingAmountNetIncludingPortionAttributableToNoncontrollingInterests

1,630,000

^[3]

Temporary Equity Carrying Amount Net Including Portion Attributable To Noncontrolling Interests

bbio_TemporaryEquityCarryingAmountNetIncludingPortionAttributableToNoncontrollingInterests

1,271,000

Temporary Equity Carrying Amount Net Including Portion Attributable To Noncontrolling Interests

bbio_TemporaryEquityCarryingAmountNetIncludingPortionAttributableToNoncontrollingInterests

1,865,000

Potential Milestone Accrued Amount Settlement In Cash Or Stock At Sole Discretion

bbio_PotentialMilestoneAccruedAmountSettlementInCashOrStockAtSoleDiscretion

3,527,000

^[1]

Potential Regulatory Milestone Payments

bbio_PotentialRegulatoryMilestonePayments

60,000,000.0

Potential Regulatory Milestone Payments

bbio_PotentialRegulatoryMilestonePayments

1,000,000.0

Potential Regulatory Milestone Payments

bbio_PotentialRegulatoryMilestonePayments

$ 12,500,000

Percentage Share Of Global Development Costs

bbio_PercentageShareOfGlobalDevelopmentCosts

40.00%

Percentage Share Of Global Development Costs

bbio_PercentageShareOfGlobalDevelopmentCosts

60.00%

Fair Value Liabilities Transfers Between Level One Level Two Or Level Three Amount

bbio_FairValueLiabilitiesTransfersBetweenLevelOneLevelTwoOrLevelThreeAmount

$ 0

Fair Value Liabilities Transfers Between Level One Level Two Or Level Three Amount

bbio_FairValueLiabilitiesTransfersBetweenLevelOneLevelTwoOrLevelThreeAmount

0

Contractual Obligation Due After Fourth Year

bbio_ContractualObligationDueAfterFourthYear

789,547,000

Contractual Obligation Due After Fourth Year

bbio_ContractualObligationDueAfterFourthYear

556,875,000

Contractual Obligation Due After Fourth Year

bbio_ContractualObligationDueAfterFourthYear

$ 1,346,422,000

Schedule Of Supplemental Information Related To Remaining Lease Term And Discount Rate Table [Text Block]

bbio_ScheduleOfSupplementalInformationRelatedToRemainingLeaseTermAndDiscountRateTableTextBlock

Supplemental information related to the remaining lease term and discount rate are as follows:


		June 30,
		2022				2021
Weighted-average remaining lease term (in years)
Operating leases			5.6				6.3
Finance lease			3.6				4.6
Weighted-average discount rate
Operating leases			5.73	%			5.79	%
Finance lease			6.62	%			6.62	%

Net Income Loss Excluding Redeemable Noncontrolling Interests Net Income Loss

bbio_NetIncomeLossExcludingRedeemableNoncontrollingInterestsNetIncomeLoss

$ (196,397,000)

Net Income Loss Excluding Redeemable Noncontrolling Interests Net Income Loss

bbio_NetIncomeLossExcludingRedeemableNoncontrollingInterestsNetIncomeLoss

(196,397,000)

Net Income Loss Excluding Redeemable Noncontrolling Interests Net Income Loss

bbio_NetIncomeLossExcludingRedeemableNoncontrollingInterestsNetIncomeLoss

(3,893,000)

Net Income Loss Excluding Redeemable Noncontrolling Interests Net Income Loss

bbio_NetIncomeLossExcludingRedeemableNoncontrollingInterestsNetIncomeLoss

(200,290,000)

Net Income Loss Excluding Redeemable Noncontrolling Interests Net Income Loss

bbio_NetIncomeLossExcludingRedeemableNoncontrollingInterestsNetIncomeLoss

(9,856,000)

Net Income Loss Excluding Redeemable Noncontrolling Interests Net Income Loss

bbio_NetIncomeLossExcludingRedeemableNoncontrollingInterestsNetIncomeLoss

(9,856,000)

Net Income Loss Excluding Redeemable Noncontrolling Interests Net Income Loss

bbio_NetIncomeLossExcludingRedeemableNoncontrollingInterestsNetIncomeLoss

9,276,000

Net Income Loss Excluding Redeemable Noncontrolling Interests Net Income Loss

bbio_NetIncomeLossExcludingRedeemableNoncontrollingInterestsNetIncomeLoss

(580,000)

Net Income Loss Excluding Redeemable Noncontrolling Interests Net Income Loss

bbio_NetIncomeLossExcludingRedeemableNoncontrollingInterestsNetIncomeLoss

(163,079,000)

Net Income Loss Excluding Redeemable Noncontrolling Interests Net Income Loss

bbio_NetIncomeLossExcludingRedeemableNoncontrollingInterestsNetIncomeLoss

(163,079,000)

Net Income Loss Excluding Redeemable Noncontrolling Interests Net Income Loss

bbio_NetIncomeLossExcludingRedeemableNoncontrollingInterestsNetIncomeLoss

(7,127,000)

Net Income Loss Excluding Redeemable Noncontrolling Interests Net Income Loss

bbio_NetIncomeLossExcludingRedeemableNoncontrollingInterestsNetIncomeLoss

(170,206,000)

Net Income Loss Excluding Redeemable Noncontrolling Interests Net Income Loss

bbio_NetIncomeLossExcludingRedeemableNoncontrollingInterestsNetIncomeLoss

(96,348,000)

Net Income Loss Excluding Redeemable Noncontrolling Interests Net Income Loss

bbio_NetIncomeLossExcludingRedeemableNoncontrollingInterestsNetIncomeLoss

(96,348,000)

Net Income Loss Excluding Redeemable Noncontrolling Interests Net Income Loss

bbio_NetIncomeLossExcludingRedeemableNoncontrollingInterestsNetIncomeLoss

(4,164,000)

Net Income Loss Excluding Redeemable Noncontrolling Interests Net Income Loss

bbio_NetIncomeLossExcludingRedeemableNoncontrollingInterestsNetIncomeLoss

(100,512,000)

Cost of License Revenue and Products Sold

bbio_CostOfLicenseRevenueAndProductsSold

700,000

Cost of License Revenue and Products Sold

bbio_CostOfLicenseRevenueAndProductsSold

109,000

Cost of License Revenue and Products Sold

bbio_CostOfLicenseRevenueAndProductsSold

2,048,000

Cost of License Revenue and Products Sold

bbio_CostOfLicenseRevenueAndProductsSold

109,000

Nonrefundable Upfront License Fees

bbio_NonrefundableUpfrontLicenseFees

20,000,000.0

Cost Related to Manufacturing Suite and Additional Equipment

bbio_CostRelatedToManufacturingSuiteAndAdditionalEquipment

200,000

Payable Related To Manufacturing Suite

bbio_PayableRelatedToManufacturingSuite

2,000,000.0

Payment-in-kind Interest Added to Principal of Term Loan

bbio_PaymentInKindInterestAddedToPrincipalOfTermLoan

$ 5,075,000

Number Of Shares Issued In Exchange Of Subsidiary Equity

bbio_NumberOfSharesIssuedInExchangeOfSubsidiaryEquity

26,156,446

Number Of Shares Issued In Exchange Of Subsidiary Equity

bbio_NumberOfSharesIssuedInExchangeOfSubsidiaryEquity

554,064

Number Of Shares Issued In Exchange Of Subsidiary Equity

bbio_NumberOfSharesIssuedInExchangeOfSubsidiaryEquity

24,924

Debt Instrument Accrued Interest Convertible into Principal

bbio_DebtInstrumentAccruedInterestConvertibleIntoPrincipal

$ 3,300,000

Debt Instrument Accrued Interest Convertible into Principal

bbio_DebtInstrumentAccruedInterestConvertibleIntoPrincipal

5,100

Debt Instrument Accrued Interest Convertible into Principal

bbio_DebtInstrumentAccruedInterestConvertibleIntoPrincipal

3,400,000

Potential Milestone Accrued Amount Settlement In Cash

bbio_PotentialMilestoneAccruedAmountSettlementInCash

996,000

^[1]

Allocation Of Transaction Price To Transfer Of Existing Inventory

bbio_AllocationOfTransactionPriceToTransferOfExistingInventory

1,600,000

Allocation Of Transaction Price To Transfer Of Existing Inventory

bbio_AllocationOfTransactionPriceToTransferOfExistingInventory

1,600,000

License Agreements Share Of Co Commercialization Loss As Reduction To Selling General And Administrative Expenses

bbio_LicenseAgreementsShareOfCoCommercializationLossAsReductionToSellingGeneralAndAdministrativeExpenses

200,000

License Agreements Share Of Co Commercialization Loss As Reduction To Selling General And Administrative Expenses

bbio_LicenseAgreementsShareOfCoCommercializationLossAsReductionToSellingGeneralAndAdministrativeExpenses

1,300,000

License Agreements Share Of Co Commercialization Loss As Reduction To Selling General And Administrative Expenses

bbio_LicenseAgreementsShareOfCoCommercializationLossAsReductionToSellingGeneralAndAdministrativeExpenses

4,100,000

License Agreements Share Of Co Commercialization Loss As Reduction To Selling General And Administrative Expenses

bbio_LicenseAgreementsShareOfCoCommercializationLossAsReductionToSellingGeneralAndAdministrativeExpenses

4,100,000

License Agreements Share Of Co Commercialization Loss As Reduction To Selling General And Administrative Expenses

bbio_LicenseAgreementsShareOfCoCommercializationLossAsReductionToSellingGeneralAndAdministrativeExpenses

400,000

License Agreements Share Of Co Commercialization Loss As Reduction To Selling General And Administrative Expenses

bbio_LicenseAgreementsShareOfCoCommercializationLossAsReductionToSellingGeneralAndAdministrativeExpenses

500,000

Direct Offering Expense

bbio_DirectOfferingExpense

0

Payable Termination Fees for Other Existing Services

bbio_PayableTerminationFeesForOtherExistingServices

$ 1,800,000

Number Of Restricted Stock Awards Issued In Exchange Of Subsidiary Equity

bbio_NumberOfRestrictedStockAwardsIssuedInExchangeOfSubsidiaryEquity

50,145

Payments To Vendor

bbio_PaymentsToVendor

$ 1,500,000

Net Non Cash Portion Of Repurchase Of Noncontrolling Interests

bbio_NetNonCashPortionOfRepurchaseOfNoncontrollingInterests

$ 38,167,000

Number Of Performance Based Restricted Stock Awards Issued In Exchange Of Subsidiary Equity

bbio_NumberOfPerformanceBasedRestrictedStockAwardsIssuedInExchangeOfSubsidiaryEquity

22,611

Schedule Of Interest Expense Recognized And Effective Interest Rates Related To Notes [Table Text Block]

bbio_ScheduleOfInterestExpenseRecognizedAndEffectiveInterestRatesRelatedToNotesTableTextBlock

The following table sets forth the total interest expense recognized and effective interest rates related to the Notes for the periods presented:


		Three Months Ended June 30, 2022												Six Months Ended June 30, 2022
		2029 Notes				2027 Notes				Total				2029 Notes				2027 Notes				Total
		(in thousands)												(in thousands)
Contractual interest expense		$	4,204			$	3,437			$	7,641			$	8,409			$	6,875			$	15,284
Amortization of debt discount and issuance costs			466				424				890				929				844				1,773
Total interest and amortization expense		$	4,670			$	3,861			$	8,531			$	9,338			$	7,719			$	17,057
Effective interest rate			2.6	%			2.8	%							2.6	%			2.8	%


		Three Months Ended June 30, 2021												Six Months Ended June 30, 2021
		2029 Notes				2027 Notes				Total				2029 Notes				2027 Notes				Total
		(in thousands)												(in thousands)
Contractual interest expense		$	4,205			$	3,437			$	7,642			$	7,148			$	6,875			$	14,023
Amortization of debt discount and issuance costs			454				413				867				765				822				1,587
Total interest and amortization expense		$	4,659			$	3,850			$	8,509			$	7,913			$	7,697			$	15,610
Effective interest rate			2.6	%			2.8	%							2.6	%			2.8	%

Maximum Potential Performance Based Milestone Awards To Be Settled In Shares

bbio_MaximumPotentialPerformanceBasedMilestoneAwardsToBeSettledInShares

$ 183,400,000

Maximum Potential Performance Based Milestone Awards To Be Settled In Shares

bbio_MaximumPotentialPerformanceBasedMilestoneAwardsToBeSettledInShares

11,700,000

Pre-tax Impairment Gain (Loss) on Asset

bbio_PreTaxImpairmentGainLossOnAsset

(10,200,000)

Direct Transaction Costs In Repurchase Of Noncontrolling Interest Recorded In Additional Paid In Capital Previously Classified In Prepaid Expenses And Other Current Assets

bbio_DirectTransactionCostsInRepurchaseOfNoncontrollingInterestRecordedInAdditionalPaidInCapitalPreviouslyClassifiedInPrepaidExpensesAndOtherCurrentAssets

8,749,000

Cash Equivalents Unrealized Losses

bbio_CashEquivalentsUnrealizedLosses

(21,000)

Cash Equivalents Unrealized Losses

bbio_CashEquivalentsUnrealizedLosses

(4,000)

Cash Equivalents Unrealized Losses

bbio_CashEquivalentsUnrealizedLosses

(25,000)

Cash Equivalents Unrealized Losses

bbio_CashEquivalentsUnrealizedLosses

(2,000)

Cash Equivalents Unrealized Losses

bbio_CashEquivalentsUnrealizedLosses

(2,000)

Noncash Or Part Noncash Contributions Made By Noncontrolling Interests

bbio_NoncashOrPartNoncashContributionsMadeByNoncontrollingInterests

21,600,000

Purchase Of Capped Calls

bbio_PurchaseOfCappedCalls

61,295,000

Purchase Of Capped Calls

bbio_PurchaseOfCappedCalls

61,300,000

Purchase Of Capped Calls

bbio_PurchaseOfCappedCalls

49,300,000

Purchase Of Capped Calls

bbio_PurchaseOfCappedCalls

61,300,000

Purchase Of Capped Calls

bbio_PurchaseOfCappedCalls

49,300,000

Potential Milestone Accrued Settlement Amount

bbio_PotentialMilestoneAccruedSettlementAmount

20,373,000

^[1]

Debt Instrument Principal Amount Denomination For Conversion Into Common Stock

bbio_DebtInstrumentPrincipalAmountDenominationForConversionIntoCommonStock

1,000

Debt Instrument Principal Amount Denomination For Conversion Into Common Stock

bbio_DebtInstrumentPrincipalAmountDenominationForConversionIntoCommonStock

$ 1,000

Number Of Performance Based Stock Options Issued In Exchange Of Subsidiary Equity

bbio_NumberOfPerformanceBasedStockOptionsIssuedInExchangeOfSubsidiaryEquity

10,772

Recognized Intangible Asset Recorded In Accrued Research And Development Liabilities

bbio_RecognizedIntangibleAssetRecordedInAccruedResearchAndDevelopmentLiabilities

$ 20,000,000

Potential Milestone Fixed Monetary Amount Settlement In Cash

bbio_PotentialMilestoneFixedMonetaryAmountSettlementInCash

10,313,000

Adjustments To Additional Paid In Capital Purchase Of Capped Calls

bbio_AdjustmentsToAdditionalPaidInCapitalPurchaseOfCappedCalls

(61,295,000)

Adjustments To Additional Paid In Capital Purchase Of Capped Calls

bbio_AdjustmentsToAdditionalPaidInCapitalPurchaseOfCappedCalls

(61,295,000)

Adjustments To Additional Paid In Capital Purchase Of Capped Calls

bbio_AdjustmentsToAdditionalPaidInCapitalPurchaseOfCappedCalls

$ (61,295,000)

Reimbursement Percentage of Commercial Activity Costs Incurred

bbio_ReimbursementPercentageOfCommercialActivityCostsIncurred

100.00%

Reimbursement Percentage of Research and Development Costs Incurred

bbio_ReimbursementPercentageOfResearchAndDevelopmentCostsIncurred

100.00%

Performance Based Milestone Awards Compensation Expense

bbio_PerformanceBasedMilestoneAwardsCompensationExpense

Performance Based Milestone Awards Compensation Expense

bbio_PerformanceBasedMilestoneAwardsCompensationExpense

200,000

Performance Based Milestone Awards Compensation Expense

bbio_PerformanceBasedMilestoneAwardsCompensationExpense

1,900,000

Performance Based Milestone Awards Compensation Expense

bbio_PerformanceBasedMilestoneAwardsCompensationExpense

3,200,000

Potential Milestone Fixed Monetary Settlement Amount

bbio_PotentialMilestoneFixedMonetarySettlementAmount

234,704,000

Performance Based Milestone Awards

bbio_PerformanceBasedMilestoneAwards

17,400,000

Noncash Or Part Noncash Investing Transfer From To Noncontrolling Interest

bbio_NoncashOrPartNoncashInvestingTransferFromToNoncontrollingInterest

1,456,000

Noncash Or Part Noncash Investing Transfer From To Noncontrolling Interest

bbio_NoncashOrPartNoncashInvestingTransferFromToNoncontrollingInterest

$ 274,000

Risks And Uncertainties Policy [Text Block]

bbio_RisksAndUncertaintiesPolicyTextBlock

Risks and Uncertainties

In March 2020, the World Health Organization declared the outbreak of SARS-CoV-2, the novel strain of coronavirus that causes Coronavirus disease 19 (“COVID-19”), a global pandemic. Since then, healthcare providers and hospitals have focused significant amounts of resources on fighting the virus and its variants, and we have experienced delays in or temporary suspension of the enrollment of patients in our subsidiaries’ ongoing clinical trials. Additionally, we may experience delays in certain ongoing key program activities, including commencement of planned clinical trials, as well as non-clinical experiments and Investigational New Drug Application-enabling good laboratory practice toxicology studies. The exact timing of delays and their overall impact on our business are currently unknown and we are monitoring the ongoing COVID-19 pandemic as it continues to evolve. While certain measures have been relaxed in certain parts of the world as increasing numbers of people have received COVID-19 vaccines, others have remained in place with some areas continuing to experience renewed outbreaks and surges in infection rates. The extent to which such measures are removed or new measures are put in place will depend upon how the pandemic evolves, as well as the distribution of available vaccines, the rates at which they are administered and the emergence of new variants of the virus. We are continuing to actively monitor the situation and may take further precautionary and preemptive actions as may be required by federal, state, or local authorities or that we determine are in the best interests of public health and safety and that of our patient community, employees, partners, suppliers, and stockholders. We cannot predict the effects that such actions, or the impact of COVID-19 on global business operations and economic conditions, may have on our business or strategy, including the effects on our ongoing and planned clinical development activities and prospects or on our financial and operating results.

Principle Amount Paid To Lenders

bbio_PrincipleAmountPaidToLenders

$ 20,100,000

Performance Based Milestone Awards Period For Recognition

bbio_PerformanceBasedMilestoneAwardsPeriodForRecognition

8 months 12 days

Performance Based Milestone Awards Period For Recognition

bbio_PerformanceBasedMilestoneAwardsPeriodForRecognition

1 year 8 months 12 days

Performance Based Milestone Awards Compensation Expense Settled With Equity

bbio_PerformanceBasedMilestoneAwardsCompensationExpenseSettledWithEquity

$ 2,500,000

Performance Based Milestone Awards Compensation Expense Settled With Equity

bbio_PerformanceBasedMilestoneAwardsCompensationExpenseSettledWithEquity

$ 6,000,000.0

Threshold Percentage Of Stock Price Trigger In Measurement Period

bbio_ThresholdPercentageOfStockPriceTriggerInMeasurementPeriod

98.00%

Threshold Percentage Of Stock Price Trigger In Measurement Period

bbio_ThresholdPercentageOfStockPriceTriggerInMeasurementPeriod

98.00%

Voting Interest Entity Investment Threshold Percentage

bbio_VotingInterestEntityInvestmentThresholdPercentage

50.00%

bbio_ExitFees

$ 400,000

Potential Milestone Fixed Monetary Amount Settlement In Stock

bbio_PotentialMilestoneFixedMonetaryAmountSettlementInStock

96,695,000

^[2]

Accrued Termination Charges

bbio_AccruedTerminationCharges

0

Nonrefundable Upfront Payment Receivable

bbio_NonrefundableUpfrontPaymentReceivable

8,000,000.0

Gain From Sale Of Priority Review Voucher, Net

bbio_GainFromSaleOfPriorityReviewVoucherNet

Gain From Sale Of Priority Review Voucher, Net

bbio_GainFromSaleOfPriorityReviewVoucherNet

107,946,000

Gain From Sale Of Priority Review Voucher, Net

bbio_GainFromSaleOfPriorityReviewVoucherNet

107,946,000

Future Potential Development And Sales Milestone Payments Yet To Be Received

bbio_FuturePotentialDevelopmentAndSalesMilestonePaymentsYetToBeReceived

$ 382,100,000

Sales of Nonfinancial Assets Policy Text Block

bbio_SalesOfNonfinancialAssetsPolicyTextBlock

Sales of Nonfinancial Assets

We generally account for sales of nonfinancial assets that are outside the scope of our ordinary activities under ASC 610-20, Other Income - Gains and Losses from the Derecognition of Nonfinancial Assets (“ASC 610-20”). Pursuant to ASC 610-20, we apply the guidance in ASC 606 to determine if a contract exists, identify the distinct nonfinancial assets, and determine when control transfers and, therefore, when to derecognize the nonfinancial asset. Additionally, we apply the measurement principles of ASC 606 to determine the amount of consideration, if any, to include in the calculation of the gain or loss for the nonfinancial asset.

Debt Instrument Convertible Increase In Conversion Rate Number Of Common Stock Issuable

bbio_DebtInstrumentConvertibleIncreaseInConversionRateNumberOfCommonStockIssuable

11,361,851

Debt Instrument Convertible Increase In Conversion Rate Number Of Common Stock Issuable

bbio_DebtInstrumentConvertibleIncreaseInConversionRateNumberOfCommonStockIssuable

17,707,635

Increase Decrease In Accrued Research And Development Liabilities

bbio_IncreaseDecreaseInAccruedResearchAndDevelopmentLiabilities

$ 5,953,000

Increase Decrease In Accrued Research And Development Liabilities

bbio_IncreaseDecreaseInAccruedResearchAndDevelopmentLiabilities

2,463,000

Adjustments Of Carrying Value Of Noncontrolling Interest Additional Paid In Capital

bbio_AdjustmentsOfCarryingValueOfNoncontrollingInterestAdditionalPaidInCapital

1,800,000

Adjustments Of Carrying Value Of Noncontrolling Interest Additional Paid In Capital

bbio_AdjustmentsOfCarryingValueOfNoncontrollingInterestAdditionalPaidInCapital

1,500,000

Adjustments Of Carrying Value Of Noncontrolling Interest Additional Paid In Capital

bbio_AdjustmentsOfCarryingValueOfNoncontrollingInterestAdditionalPaidInCapital

(1,400,000)

Adjustments Of Carrying Value Of Noncontrolling Interest Additional Paid In Capital

bbio_AdjustmentsOfCarryingValueOfNoncontrollingInterestAdditionalPaidInCapital

$ 300,000

Debt Instrument Convertible Threshold Consecutive Trading Day Period

bbio_DebtInstrumentConvertibleThresholdConsecutiveTradingDayPeriod

5 days

Debt Instrument Convertible Threshold Consecutive Trading Day Period

bbio_DebtInstrumentConvertibleThresholdConsecutiveTradingDayPeriod

5 days

Debt Instrument Unamortized Discount Premium Debt Issuance Costs And Exit Fees Accretion

bbio_DebtInstrumentUnamortizedDiscountPremiumDebtIssuanceCostsAndExitFeesAccretion

$ 16,638,000

Debt Instrument Unamortized Discount Premium Debt Issuance Costs And Exit Fees Accretion

bbio_DebtInstrumentUnamortizedDiscountPremiumDebtIssuanceCostsAndExitFeesAccretion

19,248,000

Increase Decrease In Accrued Professional Service

bbio_IncreaseDecreaseInAccruedProfessionalService

(602,000)

Increase Decrease In Accrued Professional Service

bbio_IncreaseDecreaseInAccruedProfessionalService

1,499,000

Payments of First Installment Due Amount Related to Regulatory Milestone Payments

bbio_PaymentsOfFirstInstallmentDueAmountRelatedToRegulatoryMilestonePayments

1,500,000

Proceeds From Issuance Of Noncontrolling Interest

bbio_ProceedsFromIssuanceOfNoncontrollingInterest

$ 70,000

Percentage Of Principal Amount To Be Repurchased In Fundamental Change

bbio_PercentageOfPrincipalAmountToBeRepurchasedInFundamentalChange

100.00%

Percentage Of Principal Amount To Be Repurchased In Fundamental Change

bbio_PercentageOfPrincipalAmountToBeRepurchasedInFundamentalChange

100.00%

Repurchase Of Noncontrolling Interests For Cash And Shares Including Transaction Costs Shares

bbio_RepurchaseOfNoncontrollingInterestsForCashAndSharesIncludingTransactionCostsShares

26,156,446

Minimum Threshold Percentage Of Aggregate Principal By Trustee Or Holders

bbio_MinimumThresholdPercentageOfAggregatePrincipalByTrusteeOrHolders

25.00%

Minimum Threshold Percentage Of Aggregate Principal By Trustee Or Holders

bbio_MinimumThresholdPercentageOfAggregatePrincipalByTrusteeOrHolders

25.00%

Proceeds from Issuance of Term Loans After Deducting Debt Discount and Issuance Costs

bbio_ProceedsFromIssuanceOfTermLoansAfterDeductingDebtDiscountAndIssuanceCosts

$ 431,300,000

Proceeds From Sale Of Priority Review Voucher

bbio_ProceedsFromSaleOfPriorityReviewVoucher

110,000,000

Proceeds From Sale Of Priority Review Voucher

bbio_ProceedsFromSaleOfPriorityReviewVoucher

$ 110,000,000.0

Number of directors appoint or removal

bbio_NumberOfDirectorsAppointOrRemoval

1

Debt Instrument Convertible Threshold Business Days

bbio_DebtInstrumentConvertibleThresholdBusinessDays

5 days

Debt Instrument Convertible Threshold Business Days

bbio_DebtInstrumentConvertibleThresholdBusinessDays

5 days

Schedule Of Future Minimum Lease Payments For Noncancelable Operating And Finance Leases Table [Text Block]

bbio_ScheduleOfFutureMinimumLeasePaymentsForNoncancelableOperatingAndFinanceLeasesTableTextBlock

As of June 30, 2022, future minimum lease payments for our noncancelable operating leases are as follows. Future minimum lease payments under our finance lease are not material.


		Amount
		(in thousands)
Remainder of 2022		$	2,519
Year ending December 31:
2023			4,927
2024			3,993
2025			3,962
2026			1,893
Thereafter			4,375
Total future minimum lease payments			21,669
Imputed interest			(3,083	)
Total		$	18,586

Reported as of June 30, 2022
Operating lease liabilities, current portion		$	4,310
Operating lease liabilities, net of current portion			14,276
Total operating lease liabilities		$	18,586

Upfront Payment Received

bbio_UpfrontPaymentReceived

$ 10,000,000.0

Amount paid to Lenders

bbio_AmountPaidToLenders

$ 20,500,000

Debt Instruments Maturity Year

bbio_DebtInstrumentsMaturityYear

2029

Debt Instruments Maturity Year

bbio_DebtInstrumentsMaturityYear

2027

Debt Instrument Option To Purchase Additional Notes Exercised

bbio_DebtInstrumentOptionToPurchaseAdditionalNotesExercised

$ 67,500,000

Debt Instrument Option To Purchase Additional Notes Exercised

bbio_DebtInstrumentOptionToPurchaseAdditionalNotesExercised

75,000,000.0

Potential Sales Milestone Payments

bbio_PotentialSalesMilestonePayments

35,000,000.0

Potential Sales Milestone Payments

bbio_PotentialSalesMilestonePayments

17,000,000.0

Potential Sales Milestone Payments

bbio_PotentialSalesMilestonePayments

4,500,000

Repurchase Of Noncontrolling Interests Transaction Costs

bbio_RepurchaseOfNoncontrollingInterestsTransactionCosts

70,734,000

Proceeds From Consolidation Of Entities

bbio_ProceedsFromConsolidationOfEntities

13,654,000

Payment for an Intangible Asset

bbio_PaymentForAnIntangibleAsset

1,500,000

Gain from Conversion of Equity Method Investment to Investment in Equity Securities

bbio_GainFromConversionOfEquityMethodInvestmentToInvestmentInEquitySecurities

$ 68,500,000

Lessee Operating And Financing Leases Disclosure [Text Block]

bbio_LesseeOperatingAndFinancingLeasesDisclosureTextBlock

13.

Leases

Operating and Finance Leases

We have operating leases for our corporate headquarters, office spaces and laboratory facilities. One of our office space leases has a finance lease component representing lessor provided furniture and office equipment. Our finance lease, which is presented as part of “Property and equipment, net” in our condensed consolidated balance sheets, is not material.

Certain leases include renewal options at our election and we include the renewal options when we are reasonably certain that the renewal option will be exercised. The lease liabilities were measured using a weighted-average discount rate based on the most recent borrowing rate as of the calculation of the respective lease liability, adjusted for the remaining lease term and aggregate amount of the lease.

The components of lease cost are as follows:


		Three Months Ended June 30,								Six Months Ended June 30,
		2022				2021				2022				2021
		(in thousands)								(in thousands)
Straight line operating lease costs		$	1,344			$	1,256			$	2,889			$	2,621
Finance lease costs			111				116			$	224			$	173
Variable lease costs			1,506				969				3,065				1,720
Total lease cost		$	2,961			$	2,341			$	6,178			$	4,514

Supplemental cash flow information related to leases are as follows:


		Six Months Ended June 30,
		2022				2021
		(in thousands)
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows for operating leases		$	3,348			$	2,858
Operating cash flows for finance lease			212				85
Operating lease right-of-use assets obtained in exchange for operating lease obligations			240				4,041

Supplemental information related to the remaining lease term and discount rate are as follows:


		June 30,
		2022				2021
Weighted-average remaining lease term (in years)
Operating leases			5.6				6.3
Finance lease			3.6				4.6
Weighted-average discount rate
Operating leases			5.73	%			5.79	%
Finance lease			6.62	%			6.62	%

As of June 30, 2022, future minimum lease payments for our noncancelable operating leases are as follows. Future minimum lease payments under our finance lease are not material.


		Amount
		(in thousands)
Remainder of 2022		$	2,519
Year ending December 31:
2023			4,927
2024			3,993
2025			3,962
2026			1,893
Thereafter			4,375
Total future minimum lease payments			21,669
Imputed interest			(3,083	)
Total		$	18,586

Reported as of June 30, 2022
Operating lease liabilities, current portion		$	4,310
Operating lease liabilities, net of current portion			14,276
Total operating lease liabilities		$	18,586

We recognized an impairment loss for certain of our asset groups estimated using a discounted cash flow model (income approach) for the six months ended June 30, 2021 of $3.3 million, which is included in selling, general and administrative expenses in our condensed consolidated statement of operations. The impairment loss recorded consisted of $2.6 million related to operating lease right-of-use assets and $0.7 million related to property and equipment namely leasehold improvements and office furniture and equipment that we no longer use. There was no related impairment loss during the three and six months ended June 30, 2022.

Manufacturing Agreement

In December 2019, we entered into a manufacturing agreement with a vendor to secure clinical and commercial scale manufacturing capacity for the manufacture of batches of active pharmaceutical ingredients for product candidates of certain subsidiaries of BridgeBio. Unless terminated as allowed within the manufacturing agreement, the agreement would have expired five years from when qualified operations begin. Under the terms of the agreement, we were assigned a dedicated manufacturing suite for certain months in each calendar year for a one-time fee of $10.0 million, which would be applied to the buildout, commissioning, qualification, validation, equipping and exclusive use of the dedicated manufacturing suite.

We recorded a construction-in-progress asset of $10.0 million for the payments directly associated with the dedicated manufacturing suite as these payments are deemed to represent a non-lease component. In 2020, we entered into a supplemental agreement with the vendor for certain upgrades on the dedicated manufacturing suite and for additional equipment of approximately $0.2 million. As of December 31, 2021, the readiness determination phase of the dedicated manufacturing suite was expected to be completed in 2022.

In March 2022, we mutually agreed with the vendor to terminate the manufacturing agreement. The termination agreement was formalized effective May 2022. Under the termination agreement, we will pay the $2.0 million remaining payable related to the dedicated manufacturing suite and a termination fee of $1.8 million for other existing services, both over a period of six months from the effective date of the termination agreement. We have paid $1.5 million of the amounts due to the vendor as of June 30, 2022. For the six months ended June 30, 2022, we recorded a pre-tax impairment loss of $10.2 million for the carrying value of the construction-in-progress asset that was no longer recoverable as our rights to the dedicated manufacturing suite ceased pursuant to the termination agreement. The aforementioned impairment loss and the termination fee are included as part of “Restructuring, impairment and related charges” in our condensed consolidated statement of operations for the six months ended June 30, 2022 (see Note 16).

Lessee Operating Lease Liability Payments Due After Year Four

bbio_LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFour

$ 4,375,000

Proceeds From Issuance Of Notes After Deducting Discount And Offering Expenses

bbio_ProceedsFromIssuanceOfNotesAfterDeductingDiscountAndOfferingExpenses

731,400,000

Proceeds From Issuance Of Notes After Deducting Discount And Offering Expenses

bbio_ProceedsFromIssuanceOfNotesAfterDeductingDiscountAndOfferingExpenses

$ 537,000,000.0

Warrant To Purchase Percentage

bbio_WarrantToPurchasePercentage

10.00%

Warrant to Purchase shares of common stock

bbio_WarrantToPurchaseSharesOfCommonStock

347,569

Call Option Expense Income

bbio_CallOptionExpenseIncome

$ (5,550,000)

Temporary Equity Fair Value Of Noncontrolling Interest

bbio_TemporaryEquityFairValueOfNoncontrollingInterest

$ 5,074,000

Sale Of Stock Premium Over Last Reported Sale Price Percentage

bbio_SaleOfStockPremiumOverLastReportedSalePricePercentage

100.00%

Sale Of Stock Premium Over Last Reported Sale Price Percentage

bbio_SaleOfStockPremiumOverLastReportedSalePricePercentage

100.00%

Business Acquisition Common Share

bbio_BusinessAcquisitionCommonShare

1.85

Debt Instrument Capped Call Transaction Cap Price Per Share

bbio_DebtInstrumentCappedCallTransactionCapPricePerShare

$ 131.58

Debt Instrument Capped Call Transaction Cap Price Per Share

bbio_DebtInstrumentCappedCallTransactionCapPricePerShare

$ 62.12

Temporary Equity Issuance Repurchase Of Noncontrolling Interest Value

bbio_TemporaryEquityIssuanceRepurchaseOfNoncontrollingInterestValue

$ 700,000

Reclassification Of Final Payment Obligation Related To Manufacturing Agreement Recognized in Prior Period

bbio_ReclassificationOfFinalPaymentObligationRelatedToManufacturingAgreementRecognizedInPriorPeriod

$ 2,185,000

Number Of Shares Covered By Capped Calls

bbio_NumberOfSharesCoveredByCappedCalls

7,702,988

Number Of Shares Covered By Capped Calls

bbio_NumberOfSharesCoveredByCappedCalls

12,878,305

Accrued Research And Development Liabilities Current

bbio_AccruedResearchAndDevelopmentLiabilitiesCurrent

$ 50,091,000

Accrued Research And Development Liabilities Current

bbio_AccruedResearchAndDevelopmentLiabilitiesCurrent

$ 44,138,000

^[4]

Merger Transactions Completion Date

bbio_MergerTransactionsCompletionDate

Jan. 26, 2021

Gain from Sale of Priority Review Voucher, Excluding Transaction Costs

bbio_GainFromSaleOfPriorityReviewVoucherExcludingTransactionCosts

$ 110,000,000

Business Combination Potential Cash Consideration

bbio_BusinessCombinationPotentialCashConsideration

0

Business Combination Potential Cash Consideration

bbio_BusinessCombinationPotentialCashConsideration

175,000,000.0

Increase Decrease Receivable From Licensing And Collaboration Agreements

bbio_IncreaseDecreaseReceivableFromLicensingAndCollaborationAgreements

(2,993,000)

Increase Decrease Receivable From Licensing And Collaboration Agreements

bbio_IncreaseDecreaseReceivableFromLicensingAndCollaborationAgreements

$ 35,363,000

Business Acquisition Cash Per Share

bbio_BusinessAcquisitionCashPerShare

$ 73.26

Gain From Recognition Of Receivable From Licensing And Collaboration Agreements

bbio_GainFromRecognitionOfReceivableFromLicensingAndCollaborationAgreements

$ 12,500,000

Adjustments To Additional Paid In Capital Related To Premium Payments

bbio_AdjustmentsToAdditionalPaidInCapitalRelatedToPremiumPayments

61,300,000

Adjustments To Additional Paid In Capital Related To Premium Payments

bbio_AdjustmentsToAdditionalPaidInCapitalRelatedToPremiumPayments

49,300,000

Fair Value Of Shares Issued Under License Agreements

bbio_FairValueOfSharesIssuedUnderLicenseAgreements

4,567,000

Finite Lived Intangible Assets Amortization Expense Rolling After Year Four

bbio_FiniteLivedIntangibleAssetsAmortizationExpenseRollingAfterYearFour

$ 19,100,000

Debt Instrument Potential Payment Extended Amortization Date

bbio_DebtInstrumentPotentialPaymentExtendedAmortizationDate

Jan. 02, 2026

Transaction Costs Incurred In Merger Transactions

bbio_TransactionCostsIncurredInMergerTransactions

$ 70,700,000

Business Acquisition Equity Interests Issued Or Issuable Fair Value

bbio_BusinessAcquisitionEquityInterestsIssuedOrIssuableFairValue

1,630,300,000

Debt Instrument Option To Purchase Additional Notes

bbio_DebtInstrumentOptionToPurchaseAdditionalNotes

$ 97,500,000

Debt Instrument Maturity Date Extension

bbio_DebtInstrumentMaturityDateExtension

May 01, 2025

Repurchase Of Noncontrolling Interest Including Direct Transaction Costs

bbio_RepurchaseOfNoncontrollingInterestIncludingDirectTransactionCosts

$ 84,840,000

Debt Instrument Option To Purchase Additional Notes Remaining Portion Exercised

bbio_DebtInstrumentOptionToPurchaseAdditionalNotesRemainingPortionExercised

$ 30,000,000.0

Debt Instrument Payment Amortization Date

bbio_DebtInstrumentPaymentAmortizationDate

Jan. 02, 2025

[1]	Amount recorded for performance-based milestone awards that are probable of achievement.
[2]	Includes the performance-based milestone awards that were granted as part of the Exchange Program further discussed in Note 15.
[3]	The consolidated balances as of December 31, 2021 and 2020 are derived from the audited consolidated financial statements as of those dates.
[4]	The condensed consolidated balance sheet as of December 31, 2021 is derived from the audited consolidated financial statements as of that date.

Cash Equivalents and Marketable Securities (Tables)

6 Months Ended

Jun. 30, 2022

Cash Equivalents And Marketable Securities [Abstract]

Schedule of Cash Equivalent and Marketable Securities Classified as Available-for-Sale

Cash equivalents and marketable securities classified as available-for-sale consisted of the following:


		June 30, 2022
		Amortized Cost Basis				Unrealized Gains				Unrealized Losses				Estimated Fair Value
		(in thousands)
Cash equivalents:
Money market funds		$	99,569			$	—			$	—			$	99,569
Commercial paper			122,812				—				(21	)			122,791
Agency discount notes			34,937				—				(4	)			34,933
Total cash equivalents			257,318				—				(25	)			257,293
Marketable securities:
U.S. treasury notes			76,127				—				(151	)			75,976
Commercial paper			126,709				1				(207	)			126,503
Corporate debt securities			16,032				—				(45	)			15,987
Total marketable securities			218,868				1				(403	)			218,466
Total cash equivalents and marketable securities		$	476,186			$	1			$	(428	)		$	475,759


		December 31, 2021
		Amortized Cost Basis				Unrealized Gains				Unrealized Losses				Estimated Fair Value
		(in thousands)
Cash equivalents:
Money market funds		$	176,115			$	—			$	—			$	176,115
Commercial paper			56,988				—				(2	)			56,986
Total cash equivalents			233,103				—				(2	)			233,101
Marketable securities:
U.S. treasury notes			76,518				—				(46	)			76,472
Commercial paper			167,761				2				(26	)			167,737
Corporate debt securities			122,548				—				(58	)			122,490
Supranational debt securities			27,046				—				(2	)			27,044
Total marketable securities			393,873				2				(132	)			393,743
Total cash equivalents and marketable securities		$	626,976			$	2			$	(134	)		$	626,844

Sale of Nonfinancial Assets

6 Months Ended

Jun. 30, 2022

Sale of Nonfinancial Assets [Abstract]

Sale of Nonfinancial Assets

12.

Sale of Nonfinancial Assets

Sale of Priority Review Voucher

In May 2022, we announced that we entered into a definitive agreement to sell our PRV for $110.0 million. We received the PRV in February 2021 under an FDA program intended to encourage the development of treatments for rare pediatric diseases. We were awarded the PRV when our subsidiary, Origin Biosciences Inc., received approval of NULIBRYTM. The PRV sale was subject to customary closing conditions and was completed in June 2022 following the expiration of applicable U.S. antitrust clearance requirements. We accounted for this transaction under ASC 610-20. We received the proceeds of $110.0 million in June 2022 and recognized a gain of $107.9 million, net of transaction costs, for the three and six months ended June 30, 2022.

Asset Purchase Agreement with Sentynl

On March 4, 2022, Origin and Sentynl entered into the Origin-Sentynl APA, pursuant to which Sentynl acquired global rights to NULIBRY, as well as certain specified assets of Origin, and will be responsible for the ongoing development and commercialization of NULIBRY in the United States and developing, manufacturing and commercializing fosdenopterin globally. The transaction closed on March 31, 2022 (the “Closing Date”). Under terms of the Origin-Sentynl APA, Origin received an upfront payment of $10.0 million upon the Closing Date and is eligible to receive sales milestone payments, as well as tiered royalties in the low single-digits as a percentage of adjusted net sales of products related to the acquired assets. Origin will continue to be responsible for the payment of up to $4.5 million in aggregate payments upon achievement of regulatory-based milestones under the Origin-Alexion APA (see Note 8) and under a separate agreement with a third party.

We accounted for this transaction under ASC 610-20. Upon the Closing Date, we recognized a loss on sale of $6.3 million within “Other income (expense), net” in our condensed consolidated statement of operations for the six months ended June 30, 2022. The loss on sale was determined as the difference in the aforementioned upfront payment and the carrying value of the assets purchased by Sentynl of approximately $16.3 million, which comprised mainly of intellectual property rights and related intangible assets and existing inventories as of the Closing Date.

Origin’s sale of the assets covered in the Origin-Sentynl APA was not subject to the limitation on our ability to dispose of assets under the terms of the Loan Agreement (see Note 10).

Eidos

6 Months Ended

Jun. 30, 2022

Wholly Owned Subsidiary Disclosure [Abstract]

5.

Eidos

From the date of BridgeBio’s initial investment until June 22, 2018, the Eidos Therapeutics, Inc. (“Eidos”) IPO closing date, Eidos was determined to be a VIE and BridgeBio consolidated Eidos as the primary beneficiary. Subsequent to the Eidos IPO, BridgeBio determined that Eidos was no longer a VIE due to Eidos having sufficient equity at risk to finance its activities without additional subordinated financial support. From June 22, 2018 through January 26, 2021, BridgeBio determined that it held greater than 50% of the voting shares of Eidos and there were no other parties with substantive participating, liquidation or kick-out rights. BridgeBio consolidated Eidos under the VOE model until January 26, 2021, the date on which the Merger Transactions (as defined below) were consummated.

On October 5, 2020, we entered into an Agreement and Plan of Merger (the “Merger Agreement”) with Eidos, Globe Merger Sub I, Inc. (“Merger Sub”) and Globe Merger Sub II, Inc. (the two latter companies being our indirect wholly-owned subsidiaries), providing for, in a series of merger transactions (the “Merger Transactions”), the acquisition by us of all of the outstanding shares of common stock of Eidos (the “Eidos Common Stock”) other than shares of Eidos Common Stock that (i) were owned by Eidos as treasury stock, (ii) were owned by us and our subsidiaries and, in each case, not owned on behalf of third parties and (iii) were subject to an Eidos Restricted Share Award (as defined below). Under the Merger Agreement, the stockholders of Eidos had the right to receive, at their election, either 1.85 shares of our common stock or $73.26 in cash per Eidos share in the transaction, subject to proration as necessary to ensure that the aggregate amount of cash consideration was no greater than $175.0 million. In addition, immediately prior to the effective time of the merger of Merger Sub with and into Eidos (the “Effective Time”), (i) each option to purchase Eidos Common Stock (an “Eidos Option”) were to be converted into an option, on the same terms and conditions applicable to such Eidos Option immediately prior to the Effective Time, to purchase a specified number of shares of BridgeBio common stock, calculated pursuant to the terms of the Merger Agreement, and (ii) each outstanding award of shares of Eidos Common Stock that was subject to forfeiture conditions (subject to certain exceptions) (each, an “Eidos Restricted Share Award”) was to be converted into an award, on the same terms and conditions applicable to such Eidos Restricted Share Award immediately prior to the Effective Time, covering a number of whole restricted shares of BridgeBio common stock, calculated pursuant to the terms of the Merger Agreement, with any fractional shares being paid out to the holder of such Eidos Restricted Share Award in cash (conversion of the Eidos Option and the Eidos Restricted Share Awards collectively referred to as the “Eidos Awards Exchange”).

On January 19, 2021, the stockholders of each of BridgeBio and Eidos voted to approve all proposals related to the Merger Transactions and on January 26, 2021, we closed and completed the Merger Transactions. The acquisition of the Eidos Common Stock was settled through an aggregate consideration of $1,651.6 million, which was comprised of cash payments of $21.3 million and the issuance of 26,156,446 shares of our common stock, with a total fair value of approximately $1,630.3 million. We accounted for the purchase of the outstanding Eidos Common Stock as acquisition of noncontrolling interest in accordance with ASC 810, Consolidation (“ASC 810”). Under ASC 810, the carrying amount of the Eidos noncontrolling interest was adjusted to reflect the change in our ownership interest, and the difference between the fair value of the consideration paid, and the amount by which the noncontrolling interest was adjusted was recognized in equity. Such difference recognized as a reduction in equity amounted to $1,613.4 million and was recorded within “Additional paid-in capital” for the six months ended June 30, 2021. We continued to recognize the assets and liabilities of Eidos at their respective historical values as of the closing date of the Merger Transactions.

Through the closing of the Merger Transactions, we incurred transaction costs aggregating $70.7 million that were recorded in “Additional paid-in capital” for the six months ended June 30, 2021.

Upon closing and completion of the Merger Transactions with Eidos, Eidos became our wholly-owned subsidiary. Eidos’ common stock ceased to trade on The Nasdaq Global Select Market (“Nasdaq”) prior to the opening of business on January 26, 2021 and Eidos’ Certification and Notice of Termination of Registration under Section 12(g) of the Exchange Act was filed with the SEC on February 5, 2021.

License and Collaboration Agreements

6 Months Ended

Jun. 30, 2022

License And Collaboration Agreement [Abstract]

License and Collaboration Agreements

11.

License and Collaboration Agreements

License Development and Commercialization Agreement with BMS

On May 12, 2022, BridgeBio and our subsidiary, Navire Pharma, Inc. (“Navire”), entered into an exclusive license development and commercialization agreement with Bristol-Myers Squibb Company (“BMS”) (the “Navire-BMS License Agreement”), pursuant to which Navire granted BMS exclusive rights to develop and commercialize Navire’s product candidate, BBP-398, in all indications worldwide, except for the People’s Republic of China, Macau, Hong Kong, Taiwan, Thailand, Singapore, and South Korea (the “Asia Region”). The development and commercialization of BBP-398 within the Asia Region is governed under the Navire-LianBio License Agreement (as discussed below). The Navire-BMS License Agreement expands an earlier agreement between Navire and BMS that was executed in July 2021 to study BBP-398 in a combination therapy trial to treat advanced solid tumors with KRAS mutations (the “2021 Navire-BMS Agreement”). The Navire-BMS License Agreement does not alter the terms of the 2021 Navire-BMS Agreement.

Under the terms of the Navire-BMS License Agreement, Navire was entitled to receive a non-refundable, upfront payment of $90.0 million, which Navire collected in full in June 2022. Additionally, Navire is eligible to receive additional payments totaling up to approximately $815.0 million in the aggregate, subject to the achievement of development, regulatory and commercial milestones, as well as tiered royalties in the low-to-mid teens as a percentage of adjusted net sales by BMS of the licensed products sold worldwide, outside of the Asia Region. Navire will retain the option to acquire higher royalties in the United States in connection with funding a portion of development costs upon the initiation of registrational studies. Based on the terms of the Navire-BMS License Agreement, Navire will continue to lead its ongoing Phase 1 monotherapy and combination therapy trials (collectively, the “Phase 1 Trials”), and BMS will lead and fund all other development and commercialization activities. Navire is fully funding the Phase 1 trials with the exception of the combination therapy governed under the 2021 Navire-BMS Agreement. In accordance with the 2021 Navire-BMS Agreement, both parties are sharing all research and development costs equally for this trial. We have recorded all research and development costs for the Phase 1 Trials, as well as the reimbursement for the costs associated with the trial governed by the 2021 Navire-BMS Agreement within research and development in our condensed consolidated statement of operations.

We determined that the Navire-BMS License Agreement falls within the scope of ASC 606 as BMS is a customer in this arrangement, and we identified the following performance obligations in the agreement:

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an exclusive license to develop and commercialize BBP-398 and the related know-how; and

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research and development services to complete the Phase 1 Trials for BBP-398 (expected to be completed in 2025).

We determined that the performance obligations outlined above are capable of being distinct and distinct with the context of the contract given such rights and activities are independent of each other. The license can be used by BMS without the research and development services. Similarly, those services provide a distinct benefit to BMS within the context of the contract, separate from the license, as the services could be provided by BMS or another third party without our assistance. Options for additional goods or services were not considered material rights, and as such not performance obligations, at the inception of the Navire-BMS License Agreement as the additional goods or services were not offered at a discount.

As of June 30, 2022, we determined the transaction price for the Navire-BMS License Agreement to be $90.0 million, which is comprised of the fixed and non-refundable upfront payment. No additional development, regulatory, or sales milestone payments are included in the transaction price, as all such payments are variable consideration that were fully constrained as of June 30, 2022. We include variable consideration in our transaction price to the extent that it is probable that it will not result in a significant revenue reversal when the uncertainty associated with the variable consideration is subsequently resolved. As part of management’s evaluation of the variable consideration, we considered numerous factors, including the fact that achievement of the milestones is outside of our control, contingent upon the success of our existing and future clinical trials, BMS’ efforts, and receipt of regulatory approval that is subject to scientific risks of success. We expect that the royalty arrangements and commercial-based milestones will be recognized when the sales occur or the milestones are achieved pursuant to the sales-based royalty exception under ASC 606 because the license is the predominant item to which the royalties or commercial-based milestones relate. We will re-evaluate the transaction price at each reporting period and as uncertain events are resolved or other changes in circumstances occur.

We allocated the transaction price of $90.0 million based on the stand-alone selling prices (“SSP”) of each of the performance obligations as follows:

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$70.2 million for the upfront transfer of the license; and

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$19.8 million for ongoing research and development services.

The SSP for the license was determined using an approach that considered discounted, probability-weighted cash flows related to the license transferred. The SSP for the ongoing research and development services were based on estimates of the associated effort and cost of these services, adjusted for a reasonable gross profit margin that would be expected to be realized under similar contracts.

We are recognizing revenue for each of the two performance obligations as follows:

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We recognized revenue related to the license at a point in time upon transfer of the rights and control of the license to BMS. The transfer of the rights and control of the license occurred in June 2022, thus we recognized the full amount allocated to the license and related know-how for the three and six months ended June 30, 2022.

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The research and development services performance obligation consists of our completion of the Phase 1 Trials. We are recognizing revenue related to the research and development services over time using an input method to measure progress by utilizing costs incurred to-date relative to total expected costs. We expect to complete the Phase 1 Trials in 2025. Revenue recognized related to this performance obligation for the three and six months ended June 30, 2022 was $3.2 million.

For the three and six months ended June 30, 2022, we recognized an aggregate of $73.4 million of revenue from the Navire-BMS License Agreement. Our condensed consolidated balance sheet as of June 30, 2022 includes a deferred revenue balance of $16.6 million ($7.2 million presented as “Deferred revenue, current portion” and $9.4 million included in “Other long-term liabilities”) related to our research and development services obligation.

License and Collaboration Agreement with Helsinn

On March 29, 2021, QED entered into a license and collaboration agreement with Helsinn Healthcare S.A. (“HHC”) and Helsinn Therapeutics (U.S.), Inc. (“HTU”, and collectively with HHC, “Helsinn”) (the “QED-Helsinn License and Collaboration Agreement”), pursuant to which QED granted to HHC exclusive licenses to develop, manufacture and commercialize QED’s product candidate, infigratinib, in oncology and all other indications except achondroplasia or any other skeletal dysplasias, worldwide, except for the People’s Republic of China, Hong Kong and Macau (“Greater China”), and under which QED received a co-exclusive license to co-commercialize infigratinib in the United States in the licensed indications. Under this agreement, Helsinn is likewise entitled to a right of first negotiation with respect to specific territories subject to the occurrence of a contingent event. As part of this agreement, QED was also required to transfer inventory within the transitional period, as described in the QED-Helsinn License and Collaboration Agreement. The QED-Helsinn License and Collaboration Agreement became effective on April 16, 2021. Under the terms of the QED-Helsinn License and Collaboration Agreement, QED was eligible to receive payments totaling up to approximately $2.45 billion in the aggregate, including over $100.0 million in upfront, regulatory and launch milestone payments, and the remainder subject to the achievement of specified commercial milestones, as well as tiered royalties in the high teens as a percentage of adjusted net sales by Helsinn of the licensed products sold worldwide, outside of the United States and Greater China. Upon approval by the FDA, QED and HTU will co-commercialize infigratinib in the licensed indications in the United States and will share profits and losses on a 50:50 basis. In May 2021, we received such FDA approval for an oncology indication in the United States and effective as of that date, sharing of profits and losses commenced. QED and Helsinn will share global, excluding Greater China, research and development costs for infigratinib in the licensed indications at a rate of 40% for QED and 60% for Helsinn.

On February 28, 2022, QED and Helsinn amended the QED-Helsinn License and Collaboration Agreement (the “Amended QED-Helsinn License and Collaboration Agreement”) effective as of March 1, 2022. Under the terms of the Amended QED-Helsinn License and Collaboration Agreement, Helsinn will gain an exclusive license to commercialize infigratinib in the U.S. and will be responsible for developing, manufacturing and commercializing infigratinib in oncology indications except for achondroplasia or any other skeletal dysplasias worldwide, outside of Greater China. QED will retain all rights to develop, manufacture and commercialize infigratinib in skeletal dysplasia, including achondroplasia.

Pursuant to the Amended QED-Helsinn License and Collaboration Agreement, QED will no longer share in the commercialization of infigratinib in the licensed indications in the United States or be responsible for any global development costs for infigratinib in the licensed indications.

Additionally, under the Amended QED-Helsinn License and Collaboration Agreement, QED is eligible to receive regulatory and sales-based milestone payments of up to $66.0 million, as well as tiered royalties in the low to mid-teens as a percentage of adjusted net sales by Helsinn of the licensed products sold worldwide, outside of Greater China.

The Amended QED-Helsinn License and Collaboration Agreement also provides for a transitional period, which is expected to end in August 2022, for which QED has been contracted to assist in research and development and commercialization activities. The costs related to QED’s contracted activities incurred during the transitional period are fully reimbursed by Helsinn and will be paid to QED subsequent to the transitional period.

Both the QED-Helsinn License and Collaboration Agreement and the Amended QED-Helsinn License and Collaboration Agreement are considered to be within the scope of ASC 808 as the parties are active participants and are exposed to the significant risks and rewards of the collaborative activity, and partially within the scope of ASC 606 for the units of account where Helsinn is identified as a customer. For the units of account in the collaboration arrangement that do not represent a vendor-customer relationship, including the performance of collaborative research and development and commercialization services, we determined that ASC 606 is not appropriate to apply by analogy and applied a reasonable and rational accounting policy election that faithfully depicts the transfer of services to the collaboration partner over the estimated performance period. Reimbursement payments from Helsinn associated with the collaborative research and development and commercialization services are recognized as the related expense is incurred and classified as an offset to the underlying expense and excluded from the transaction price.

We evaluated the terms of the QED-Helsinn License and Collaboration Agreement and identified Helsinn as a customer with the following two distinct performance obligations: (1) exclusive licenses to develop, manufacture, and commercialize the underlying product, and (2) transfer of inventory within the transitional supply period. The Amended QED-Helsinn License and Collaboration Agreement did not give rise to any additional performance obligations.

We consider the future potential regulatory milestones to be a variable consideration fully constrained as of June 30, 2022. We constrain variable consideration to the extent that it is probable that it will not result in a significant revenue reversal when the uncertainty associated with the variable consideration is subsequently resolved. We recognize consideration related to sales-based milestone and royalties when the subsequent sales occur pursuant to the royalty exception under ASC 606 because the license is the predominant item to which the royalties or sales-based milestone relate. We began to receive royalties for net sales of the licensed products sold in the United States upon the effective date of the Amended QED-Helsinn License and Collaboration Agreement.

We determined the initial transaction price at inception of the QED-Helsinn License and Collaboration Agreement to be $46.0 million, comprised of a $20.0 million nonrefundable upfront license fee, $1.0 million for the sale of certain existing inventory, and a $25.0 million launch milestone for the first launch of the first indication of infigratinib in the United States. In the fourth quarter of 2021, we received validation from the European Medicines Agency (“EMA”) for our marketing authorization for infigratinib. Since the uncertainty of the variable consideration related to the regulatory milestone was resolved, we updated the transaction price to include this consideration, and accordingly, we increased our transaction price by $10.0 million to $56.0 million. The Amended QED-Helsinn License and Collaboration Agreement did not affect the transaction price as the modifications to the transaction price related solely to variable consideration, consisting of regulatory and sales-based milestone payments and royalties. The remaining future potential regulatory milestone payments are not included in the transaction price as they are determined to be fully constrained under ASC 606. We determined that the achievements of such regulatory milestones are contingent upon success in future clinical trials and regulatory approvals, which are not within our control and are uncertain at this stage. We will continue to reassess the transaction price, including estimated variable consideration included in the transaction price and all constrained amounts, in each reporting period and as uncertain events are resolved or other changes in circumstances occur.

We allocated the $56.0 million transaction price based on relative SSPs of each of our performance obligations as $54.4 million for the licenses and $1.6 million for the transfer of inventory. For the delivery of the licenses, we based the SSP on a discounted cash flow approach and considered several factors including, but not limited to, forecasted revenue and costs, development timelines, discount rate and probabilities of clinical and regulatory success. For the transfer of inventory, we based the SSP on the actual costs incurred by us to purchase or manufacture the inventory as well as the average compensation of employees estimated to be incurred over the performance period.

During the three and six months ended June 30, 2021, we recognized $44.4 million in license revenue relating to the delivery of licenses. We determined that the license was a right to use the intellectual property of QED and as of June 30, 2021, we had provided all necessary information to Helsinn for it to benefit from the license under the license term. The remaining $1.6 million relating to the transfer of certain existing inventory was recognized in July 2021 when the inventory was delivered. Total receivables relating to this unit of account accounted for under ASC 606 amounted to $0.2 million and $10.0 million as of June 30, 2022 and December 31, 2021, respectively, and are shown as part of “Receivable from licensing and collaboration agreements” in the condensed consolidated balance sheets.

For the unit of account that is within the scope of ASC 808 relating to collaborative research and development services, pursuant to the QED-Helsinn License and Collaboration Agreement, we have recognized Helsinn’s share of research and development expenses of nil and $2.9 million as reduction of research and development expenses for the three and six months ended June 30, 2022, respectively. We recognized Helsinn’s share of research and development expenses of $19.5 million as a reduction of research and development expenses for the three and six months ended June 30, 2021. In accordance with the Amended QED-Helsinn License and Collaboration Agreement, we have recognized $9.5 million and $12.8 million as reduction of research and development expenses for the three and six months ended June 30, 2022, which represent 100% reimbursement of research and development costs incurred during the transitional period relating to infigratinib in the licensed indications. Total receivables from Helsinn relating to this unit of account accounted for under ASC 808 amounted to $15.5 million and $5.9 million as of June 30, 2022 and December 31, 2021, respectively, and are shown as part of “Receivable from licensing and collaboration agreements” in the condensed consolidated balance sheets.

Following the FDA approval of TRUSELTIQ (infigratinib) in May 2021, we were the principal selling party of this product in the United States and recognized product sales in the condensed consolidated statement of operations. Commencing in January 2022, we sold the remaining transitional supply of TRUSELTIQ to Helsinn, and Helsinn became the principal selling party. Accordingly, beginning in 2022, we no longer recognized product sales associated with TRUSELTIQ, although we continued to share profits and losses on a 50:50 basis through February 28, 2022 in accordance with the QED-Helsinn License and Collaboration Agreement. Pursuant to the QED-Helsinn License and Collaboration Agreement, we accounted for Helsinn’s share of the co-commercialization loss of $0.2 million and $1.3 million as reduction to selling, general and administrative expenses for the three and six months ended June 30, 2022, respectively. We accounted for Helsinn’s share of the co-commercialization loss of $4.1 million as a reduction to selling, general and administrative expenses for the three and six months ended June 30, 2021. In accordance with the Amended QED-Helsinn License and Collaboration Agreement, we have recognized $0.4 million and $0.5 million as reduction to selling, general and administrative expenses for the three and six months ended June 30, 2022, respectively, which represent 100% reimbursement of commercial activity costs incurred during the transitional period relating to infigratinib in the licensed indications in the United States. Total receivables from Helsinn relating to this unit of account accounted for under ASC 808 amounted to $0.6 million as of June 30, 2022 and are shown as part of “Receivable from licensing and collaboration agreements” in the condensed consolidated balance sheets. There were no receivables outstanding relating to this unit of account as of December 31, 2021.

As of June 30, 2022, we also recognized a receivable from Helsinn of $12.5 million ($4.0 million presented as part of “Receivable from licensing and collaboration agreements” and $8.5 million presented as part of “Other assets” in our condensed consolidated balance sheet), which represents QED’s obligation to FMI described in Note 8, that will be reimbursed by Helsinn as part of the Amended QED-Helsinn License and Collaboration Agreement. In recording the receivable, we recognized a corresponding gain that is recorded as part of “Other income (expense), net” in our condensed consolidated statement of operations for the six months ended June 30, 2022. We continue to carry the associated liability in our condensed balance sheet until the formal assignment of such liability to Helsinn is finalized with FMI.

License Agreement with LianBio

In August 2020, Navire entered into an exclusive license agreement with LianBio (the “Navire-LianBio License Agreement”). Pursuant to the Navire-LianBio License Agreement, Navire granted to LianBio an exclusive, sublicensable license under the licensed patent rights and know-how to develop, manufacture and commercialize SHP2 inhibitor BBP-398 (“BBP-398”), for tumors driven by RAS and receptor tyrosine kinase mutations. Under the terms of the Navire-LianBio License Agreement, LianBio will receive commercial rights in China and selected Asian markets and participate in clinical development activities for BBP-398. In consideration for the rights granted to LianBio, we received a nonrefundable $8.0 million upfront payment, which we recognized as license revenue in 2020. We will also have the right to receive future development and sales milestone payments of up to $382.1 million, and tiered royalty payments from single-digit to low-teens on net sales of the product in licensed territories. There was no license revenue recognized for the three and six months ended June 30, 2022 under this agreement. We recognized $8.5 million in license revenue, representing a regulatory milestone payment, for the three and six months ended June 30, 2021.