View Filing Data

2,243

122

Undesignated preferred stock, $0.001 par value; 25,000,000 and no shares authorized as of December 31, 2019 and 2018; no shares issued and outstanding as of December 31, 2019 and 2018

Common stock, $0.001 par value; 500,000,000 and 97,412,870 shares authorized as of December 31, 2019 and 2018, respectively; 123,658,287 and 92,057,704 shares issued and outstanding as of December 31, 2019 and 2018, respectively

124

Additional paid-in capital

848,107

494,231

Accumulated other comprehensive income

254

(440,031)

(179,444)

408,454

314,879

Noncontrolling interests

65,279

62,361

Total liabilities, redeemable convertible noncontrolling interests and stockholders’ equity

473,733

377,240

^[1]

$ 631,679

$ 464,941

[1]

The consolidated balances as of December 31, 2018, 2017 and 2016 are derived from the audited consolidated financial statements as of that date and were retroactively adjusted, including shares and per share amounts, as a result of the Reorganization. See Note 3 to the consolidated financial statements for additional details.

Consolidated Statements of Comprehensive Loss - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Statement Of Income And Comprehensive Income [Abstract]
Net loss	$ (288,585)	$ (169,451)	$ (43,832)
Other comprehensive income:
Unrealized gain on available-for-sale securities	254
Comprehensive loss	(288,331)	(169,451)	(43,832)
Comprehensive loss attributable to redeemable convertible noncontrolling interests and noncontrolling interests	27,998	38,702	13,267
Comprehensive loss attributable to common stockholders of BridgeBio	$ (260,333)	$ (130,749)	$ (30,565)

- Definition

The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 1A
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=118930883&loc=SL7669619-108580

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 50
-Paragraph 1A
-Subparagraph (a)(1)
-URI http://asc.fasb.org/extlink&oid=109239629&loc=SL4573702-111684

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 1B
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=118930883&loc=SL7669625-108580

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 50
-Paragraph 1A
-Subparagraph (c)(1)
-URI http://asc.fasb.org/extlink&oid=109239629&loc=SL4573702-111684

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-URI http://asc.fasb.org/extlink&oid=115929826&loc=d3e8736-108599

Reference 6: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 55
-Paragraph 4J
-URI http://asc.fasb.org/extlink&oid=116874947&loc=SL4591551-111686

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 230
-SubTopic 10
-Section 45
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=118932676&loc=d3e3000-108585

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 45
-Paragraph 19
-URI http://asc.fasb.org/extlink&oid=108774443&loc=SL4569616-111683

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=115929826&loc=d3e8933-108599

Reference 10: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 55
-Paragraph 4K
-URI http://asc.fasb.org/extlink&oid=116874947&loc=SL4591552-111686

+ Details

Fair Value Measurement - Schedule of Estimated Fair Value of Liability (Details) - LEO Call Option	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Minimum
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]
Expected term (in years)	8 months 1 day	6 months 29 days
Maximum
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]
Expected term (in years)	5 years 3 months	4 years 4 months 17 days
Probability of Milestone Achievement \| Minimum
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]
Measurement input	12.0	12.0
Probability of Milestone Achievement \| Maximum
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]
Measurement input	84.0	84.0
Discount Rate \| Minimum
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]
Measurement input	1.6	2.7
Discount Rate \| Maximum
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]
Measurement input	13.1	11.0
Expected Volatility \| Minimum
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]
Measurement input	60.0	67.0
Expected Volatility \| Maximum
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]
Measurement input	68.0	79.0
Risk-Free Interest Rate \| Minimum
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]
Measurement input	2.34	2.51
Risk-Free Interest Rate \| Maximum
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]
Measurement input	2.46	2.78

Stock-Based Compensation - Additional Information (Details) - USD ($)			1 Months Ended					12 Months Ended
	Jun. 25, 2019	Jun. 22, 2019	Dec. 31, 2019	Dec. 31, 2018	May 31, 2018	Dec. 31, 2017	Apr. 30, 2016	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Nov. 13, 2019
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock-based compensation								$ 21,374,000	$ 6,067,000	$ 1,841,000
Common stock, shares outstanding			123,658,287	92,057,704				123,658,287	92,057,704
Eidos
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock-based compensation								$ 5,373,000	$ 2,526,000	1,148,000
Intrinsic value of options exercised								12,300,000	900,000	2,900,000
Fair value of shares vested								5,200,000	$ 2,500,000	500,000
2019 Employee Stock Purchase Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of common shares authorized to issue for issuance of awards		2,000,000
Stock-based compensation								$ 400,000
Percentage of automatic annual increase in number of shares reserved for future issuance		1.00%
Purchase price as percentage of lower of fair market value as of beginning or end of offering period		85.00%
Common stock offering period		6 months
Maximum percentage of employee payroll deduction for stock purchase		15.00%
Maximum number of shares eligible to purchase during offering period		3,500
Common shares reserved for future issuance			1,936,283					1,936,283
Weighted-average fair value of stock-based awards granted								$ 5.51
2019 Employee Stock Purchase Plan \| Maximum
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of common shares authorized to issue for issuance of awards		2,000,000
Employee Stock Options
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Weighted-average fair value of stock-based awards granted								$ 7.81
Restricted Stock Awards
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Issuance of common stock to founders in connection with anti-dilution rights						390,546
Consideration for common stock to founders in connection with anti-dilution rights						$ 0
Percentage of shares issued under license agreement to issue additional common stock						1.00%
Percentage of right lapses as shares vest						25.00%
Common stock, shares outstanding			170,866	268,504				170,866	268,504
Share-based compensation (benefit) expense								$ 0	$ 0	200,000
Restricted Stock Awards \| Annual Cliff Vesting
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting period of right lapses						1 year
Restricted Stock Awards \| Monthly Vesting
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting period of right lapses						36 months
Market-Based RSUs
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting period								3 years
Stock-based compensation								$ 2,300,000
Shares issued and outstanding			129,871	0				129,871	0
Shares outstanding, weighted average grant date fair value			$ 28.98					$ 28.98
Unrecognized compensation cost			$ 1,500,000					$ 1,500,000
Award market capitalization value								$ 5,000
Vesting percentage								100.00%
Aggregate grant date fair value of awards								$ 3,800,000
Management Incentive Units and Common Units \| BBP LLC
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock-based compensation								$ 3,400,000	$ 3,200,000	500,000
Vesting rights, description								Under the terms of the Management Incentive Units’ agreements, the vesting schedule is typically 1/60th of the total number of Management Incentive Units, which vest on each monthly anniversary of the vesting commencement date, subject to continued service to BridgeBio. If a Fundamental Transaction takes place, the remaining vesting related to the Management Incentive Units and Common Units will accelerate. Under the terms of the Common Units’ agreements, the vesting schedule is typically between two and five years with vesting taking place on each monthly anniversary of the vesting commencement date, subject to continued service to BBP LLC through the applicable vesting date.
Distributions								$ 0
Management Incentive Units and Common Units \| Maximum \| BBP LLC
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting period								5 years
Management Incentive Units and Common Units \| Minimum \| BBP LLC
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting period								2 years
Non-Employee \| Eidos
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock-based compensation								$ 100,000	$ 1,700,000	$ 700,000
Options Outstanding, Granted								20,361	35,880	569,252
Employee \| Eidos
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Weighted-average fair value of stock-based awards granted								$ 22.86	$ 8.46	$ 4.79
2019 Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of common shares authorized to issue for issuance of awards	11,500,000
Percentage of increase in number of shares reserved and available for issuance in proportion to common stock issued and outstanding	5.00%
2019 Inducement Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of common shares authorized to issue for issuance of awards											1,000,000
2019 Plan and 2019 Inducement Plan \| Employee Stock Options
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting period								4 years
Stock-based compensation								$ 3,900,000
Unrecognized compensation cost			$ 32,200,000					$ 32,200,000
Unrecognized compensation cost, period for recognition								3 years 4 months 24 days
2019 Plan and 2019 Inducement Plan \| Restricted Stock Units (RSUs)
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting period								4 years
Stock-based compensation								$ 200,000
Unrecognized compensation cost, period for recognition								4 years
Shares issued and outstanding			362,163					362,163
Shares outstanding, weighted average grant date fair value			$ 31.98					$ 31.98
Shares, granted or released								0
Unrecognized compensation cost			$ 11,400,000					$ 11,400,000
2019 Plan and 2019 Inducement Plan \| Restricted Stock Awards
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock-based compensation								$ 4,200,000
Unrecognized compensation cost, period for recognition								3 years 6 months
Shares issued and outstanding			5,603,452					5,603,452
Shares outstanding, weighted average grant date fair value			$ 3.63					$ 3.63
Unrecognized compensation cost			$ 26,000,000					$ 26,000,000
Eidos 2016 Equity Incentive Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Term description								ISOs and NSOs have a term of ten years and generally vest over a four-year period with annual cliff vesting and the balance monthly over 36 months.
Eidos 2016 Equity Incentive Plan \| ISO and NSO
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting period							4 years
Term of award							10 years
Remaining vesting period							36 months
Eidos 2016 Equity Incentive Plan \| ISO and NSO \| Minimum
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Exercise price as a percentage of estimated fair value of shares on the date of grant							100.00%
Eidos 2016 Equity Incentive Plan \| ISO
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Percentage of shareholder for determining exercise price of estimated fair value of shares on the date of grant							10.00%
Eidos 2016 Equity Incentive Plan \| ISO \| Minimum
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Exercise price as a percentage of estimated fair value for 10% shareholder							110.00%
Eidos 2018 Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting percentage					25.00%
Common shares reserved for future issuance			2,798,000		598,000			2,798,000
Term of award					10 years
Period of option awards vested over continuous service					1 year
Additional period of option awards vested over continuous service with remainder in monthly increments addition					3 years
Number of additional stock available for issuance					0
Increase in number of common stock capital shares reserved for issuance			1,500,000	700,000
Eidos 2018 Plan \| Minimum
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Exercise price as a percentage of estimated fair value of shares on the date of grant					100.00%
Percentage of shareholder for determining exercise price of estimated fair value of shares on the date of grant					10.00%
Exercise price as a percentage of estimated fair value for 10% shareholder					110.00%
2018 Employee Stock Purchase Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Purchase price as percentage of lower of fair market value as of beginning or end of offering period					85.00%
Maximum percentage of employee payroll deduction for stock purchase					20.00%
Common shares reserved for future issuance					143,520
Eidos 2016 and 2018 Plans
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Unrecognized compensation cost, period for recognition								2 years 10 months 24 days
Unrecognized stock-based compensation cost related to unvested stock			$ 13,500,000					$ 13,500,000
Common Stock \| 2019 Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of common shares authorized to issue for issuance of awards	11,500,000
Common Stock \| 2019 Inducement Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of common shares authorized to issue for issuance of awards											1,000,000

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Operating activities:
Net loss	$ (288,585)	$ (169,451)	$ (43,832)
Adjustments to reconcile net loss to net cash used in operating activities:
Stock-based compensation	21,374	6,067	1,841
Gain on deconsolidation of PellePharm		(19,327)
Share in net loss of equity method investments	20,869	275
Fair value of equity method investment	(3,819)
Accretion of term loans and convertible promissory notes	1,509	783
Acquired in-process research and development assets	3,560	17,922
LEO call option expense	1,069	3,009
Change in fair value of Eidos financial instruments		1,146
Other noncash adjustments	1,351	442	260
Changes in operating assets and liabilities:
Prepaid expenses and other current assets	(13,492)	(6,100)	(4,301)
Other assets	(16,929)	(843)	(92)
Accounts payable	(4,657)	16,700	1,577
Accrued compensation and benefits	9,270	3,396	1,131
Accrued research and development liabilities	11,981	5,785	2,650
Accrued professional services	1,450	454	(346)
Other accrued liabilities	1,527	2,917	356
Other liabilities	(65)	182	268
Net cash used in operating activities	(253,587)	(136,643)	(40,488)
Investing activities
Purchases of marketable securities	(212,899)
Decrease in cash and cash equivalents resulting from deconsolidation of PellePharm		(2,858)
Cash paid for in-process research and development assets acquired	(2,500)	(16,000)
Cash and cash equivalents acquired in ML Bio asset acquisition	784
Purchases of property and equipment	(2,638)	(2,178)	(464)
Net cash used in investing activities	(217,253)	(21,036)	(464)
Financing activities
Proceeds from issuance of common stock in connection with the initial public offering of the Corporation in 2019 and Eidos in 2018, net of underwriting discounts and commissions	366,237	95,536
Proceeds from issuance of noncontrolling interest to Alexion (Note 13)	23,309
Proceeds from issuance of promissory notes		1,000	4,000
Proceeds from repayment of nonrecourse notes	179		132
Proceeds from term loans, net of issuance costs	36,939	56,438
Proceeds from at-the-market issuance of noncontrolling interest by Eidos	23,927
Proceeds from the issuance of redeemable convertible preferred units, net of issuance costs		334,998	107,019
Proceeds from third-party investors in redeemable convertible noncontrolling interests	1,500	58,430	2,839
Proceeds from repayment of the loans received by noncontrolling interest shareholder		37
MyoKardia distributions	(997)		(1,151)
Repurchase of noncontrolling interest	(55,011)	(44,234)
Repayment of term loans		(1,097)
Proceeds from BridgeBio common stock issuances under ESPP	921
Proceeds from stock option exercises	1,788	440	144
Net cash provided by financing activities	398,792	501,548	112,983
Net (decrease) increase in cash, cash equivalents and restricted cash	(72,048)	343,869	72,031
Cash, cash equivalents and restricted cash at beginning of period	436,245	92,376	20,345
Cash, cash equivalents and restricted cash at end of period	364,197	436,245	92,376
Supplemental Disclosures of Cash Flow Information:
Cash paid for interest	6,092	1,574
Supplemental Disclosures of Non-Cash Investing and Financing Information:
Tenant improvement paid by landlord	2,097
Conversion of promissory note upon issuance of Series C redeemable convertible preferred units			4,000
Transfers (from) to noncontrolling interest (Note 7)	(28,635)	21,596	(8,200)
Build-to-suit funding liability accrual (Note 14)	8,000
Fair value of success fee derivative at issuance of Eidos Term Loan	$ 1,148
Conversion of redeemable noncontrolling interest into noncontrolling interest		12,252
Conversion of promissory note into redeemable convertible noncontrolling interest		1,005
Capital transaction upon Merger			$ 4,532
Fair value of redeemable convertible noncontrolling interest issued for acquired in-process research and development assets		$ 1,922

Term Loan - Schedule of Future Minimum Payments of Principal Term Loan Payments (Details) $ in Thousands	Dec. 31, 2019 USD ($)
Debt Instrument [Line Items]
2020	$ 6,748
2021	28,825
2022	50,939
2023	8,861
Total future payments	95,373
Less amounts representing interest	(15,850)
Less final end of term payment	(4,523)
Total principal amount of term loan payments	75,000
Eidos \| Tranche A Loan [Member]
Debt Instrument [Line Items]
2020	1,512
2021	2,961
2022	9,787
2023	8,622
Total future payments	22,882
Less amounts representing interest	(5,382)
Total principal amount of term loan payments	$ 17,500

Stock-Based Compensation - Summary of Authorized Equity-Based Awards Activity (Details) - Management Incentive Units and Common Units - BBP LLC - shares	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Beginning balance, Equivalent Corporation's restricted common stock shares	9,994,483	9,445,069	5,850,264
Granted, Equivalent Corporation's restricted common stock shares		550,677	4,073,919
Cancelled, Equivalent Corporation's restricted common stock shares	(842)	(1,263)	(479,114)
Ending balance, Equivalent Corporation's restricted common stock shares		9,994,483	9,445,069
Authorized and granted, Equivalent Corporation's restricted common stock shares	2,587,939
Converted into common stock of the Corporation, Equivalent Corporation's restricted common stock shares	(5,762,125)
Converted into unvested restricted common stock of the Corporation, Equivalent Corporation's restricted common stock shares	(6,819,455)

Reorganization - Summary of Reorganization Occurred at Beginning of Earliest Period Presented in Financial Statements (Detail) - USD ($)
$ in Thousands

Dec. 31, 2019

Dec. 31, 2018

Dec. 31, 2017

Dec. 31, 2016

$ 2,243

$ 122

Undesignated preferred stock

Common stock

124

Additional paid-in capital

848,107

494,231

134,495

32,998

(440,031)

(179,444)

(48,695)

(18,130)

408,454

314,879

85,851

14,889

Noncontrolling interests

65,279

62,361

2,498

2,595

473,733

377,240

^[1]

88,349

^[1]

17,484

^[1]

As Reported

Undesignated preferred stock

(170,580)

(61,427)

(18,130)

(170,580)

(61,427)

(18,130)

Noncontrolling interests

62,361

2,498

2,595

(108,219)

(58,929)

(15,535)

Adjustment

Undesignated preferred stock

Common stock

Additional paid-in capital

494,231

134,495

32,998

(8,864)

12,732

485,459

147,278

33,019

Redeemable Convertible Preferred Units | As Reported

485,459

147,278

33,019

Redeemable Convertible Preferred Units | Adjustment

478,865

143,867

31,280

Redeemable Founder Units | As Reported

(478,865)

(143,867)

(31,280)

Redeemable Founder Units | Adjustment

1,754

1,124

Redeemable Common Units | As Reported

(1,754)

(1,124)

Redeemable Common Units | Adjustment

1,619

1,431

589

Management Incentive Units | As Reported

(1,619)

(1,431)

(589)

Management Incentive Units | Adjustment

3,221

226

Redeemable Convertible Noncontrolling Interests

(3,221)

(226)

(26)

Redeemable Convertible Noncontrolling Interests | As Reported

$ 2,243

122

^[1]

833

^[1]

1,520

^[1]

Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]

$ 122

$ 833

$ 1,520

[1]

Noncontrolling Interests

12 Months Ended

Dec. 31, 2019

Noncontrolling Interest [Abstract]

Noncontrolling Interests

7.	Noncontrolling Interests

As of December 31, 2019 and 2018, we had both redeemable convertible noncontrolling interests and noncontrolling interests in consolidated partially-owned entities, for which BridgeBio has a majority voting interest under the VOE model and for which BridgeBio is the primary beneficiary under the VIE model. These balances are reported as separate components outside stockholders’ equity in “Redeemable convertible noncontrolling interests” and as part of stockholders’ equity in “Noncontrolling interests” in the consolidated balance sheets.

We adjust the carrying value of noncontrolling interest to reflect the book value attributable to noncontrolling shareholders of consolidated partially-owned entities when there is a change in the ownership during the respective reporting period. During the years ended December 31, 2019, 2018 and 2017, such adjustments in the aggregate amounts of $(28.6) million, $21.6 million and ($8.2) million, respectively, are recorded to additional paid-in capital. All such adjustments are disclosed within the “Transfers to (from) noncontrolling interest” line item in the consolidated statements of redeemable convertible noncontrolling interests and stockholders’ equity.

Upon the Eidos IPO in June 2018, all outstanding shares of Eidos’ redeemable convertible preferred stock were converted into shares of common stock of Eidos. This transaction is reflected as conversion of redeemable noncontrolling interest into noncontrolling interest in the table below. The net exercise of the Eidos Warrants upon the Eidos IPO is presented as the issuance of noncontrolling interest in the table below.

The following table provides a rollforward of the redeemable convertible noncontrolling interests balance:

	Orfan			QED			ML Bio			Eidos			PellePharm			Total
	(in thousands)
Balance as of January 1, 2017	$	—		$	—		$	—		$	6		$	1,514		$	1,520
Issuance of redeemable convertible noncontrolling interest		—			—			—			—			2,839			2,839
Net loss attributable to redeemable convertible noncontrolling interest		—			—			—			(27	)		(2,730	)		(2,757	)
Transfers to (from) redeemable convertible noncontrolling interest		—			—			—			26			(795	)		(769	)
Balance as of December 31, 2017		—			—			—			5			828			833
Issuance of redeemable convertible noncontrolling interest		187			1,735			—			51,012			9,429			62,363
Net loss attributable to redeemable convertible noncontrolling interest		(263	)		(4,675	)		—			(1,411	)		(6,181	)		(12,530	)
Deconsolidation of PellePharm		—			—			—			—			1,154			1,154
Transfers to (from) and conversion of noncontrolling interest:
Transfers to (from) redeemable convertible noncontrolling interest		84			3,054			—			(37,354	)		(5,230	)		(39,446	)
Conversion of redeemable convertible noncontrolling interest to noncontrolling interest		—			—			—			(12,252	)		—			(12,252	)
Balance as of December 31, 2018		8			114			—			—			—			122
Issuance of redeemable convertible noncontrolling interest		—			—			3,196			—			—			3,196
Net loss attributable to redeemable convertible noncontrolling interest		(120	)		(2,168	)		(590	)		—			—			(2,878	)
Transfers to (from) redeemable convertible noncontrolling interest		186			2,666			(1,049	)		—			—			1,803
Balance as of December 31, 2019	$	74		$	612		$	1,557		$	—		$	—		$	2,243

The following table provides a rollforward of the noncontrolling interests balance:

	Adrenas			Aspa			Eidos			PellePharm			PTR			Venthera			All Other			Total
	(in thousands)
Balance as of January 1, 2017	$	—		$	—		$	605		$	1,990		$	—		$	—		$	—		$	2,595
Issuance of noncontrolling interest		—			—			1,218			181			1			—			44			1,444
Transfers to (from) noncontrolling interest		—			—			2,157			2,272			2,242			—			2,298			8,969
Net loss attributable to noncontrolling interest		—			—			(3,214	)		(3,560	)		(2,016	)		—			(1,720	)		(10,510	)
Balance as of December 31, 2017		—			—			766			883			227			—			622			2,498
Issuance of noncontrolling interest		5			7			98,765			239			7			14			442			99,479
Net loss attributable to noncontrolling interest		(1,548	)		(416	)		(13,457	)		(4,541	)		(2,716	)		(612	)		(2,882	)		(26,172	)
Deconsolidation of PellePharm		—			—			—			688			—			—			—			688
Repurchase of redeemable noncontrolling interest		—			—			(44,234	)		—			—			—			—			(44,234	)
Transfers to (from) and conversion of noncontrolling interest:
Transfers to (from) noncontrolling interest		1,760			654			4,093			2,731			5,210			1,047			2,355			17,850
Conversion of redeemable convertible noncontrolling interest to noncontrolling interest		—			—			12,252			—			—			—			—			12,252
Balance as of December 31, 2018		217			245			58,185			—			2,728			449			537			62,361
Issuance (repurchase) of noncontrolling interest		15			17			(754	)		—			73			6			1,849			1,206
Transfers to (from) noncontrolling interest		2,324			1,342			16,004			—			2,245			777			4,140			26,832
Net loss attributable to noncontrolling interest		(1,860	)		(1,354	)		(13,713	)		—			(3,748	)		(1,092	)		(3,353	)		(25,120	)
Balance as of December 31, 2019	$	696		$	250		$	59,722		$	—		$	1,298		$	140		$	3,173		$	65,279

Term Loan - Additional Information (Details) - USD ($) $ in Thousands			1 Months Ended		12 Months Ended
	Nov. 13, 2019	Jul. 31, 2019	Dec. 31, 2018	Jun. 30, 2018	Dec. 31, 2019	Dec. 31, 2018	Jun. 30, 2019	May 31, 2019
Debt Instrument [Line Items]
Debt instrument, principal outstanding					$ 75,000
Debt instrument drawn amount					95,373
Hercules Capital, Inc
Debt Instrument [Line Items]
Debt Instrument face amount			$ 20,000	$ 35,000		$ 20,000
Debt instrument maturity date extension		Jan. 01, 2023
Term loan, end of term charge owe amount			$ 1,200	$ 2,200		$ 1,200
Term loan end of term charge payable percentage on principal amount			5.75%	6.35%		5.75%
Debt instrument interest only extension date		Jul. 01, 2021
Payment in kind, interest rate		83.33%
Interest expense					8,300	$ 2,400
Amortization of debt discount					$ 1,400	500
Hercules Capital, Inc \| Pledged or Collateral Assets
Debt Instrument [Line Items]
Term loan mandatory prepayment percentage on net cash proceeds received					75.00%
Hercules Capital, Inc \| Maximum \| Payment in Kind
Debt Instrument [Line Items]
Cash payment interest		1.50%
Hercules Capital, Inc \| Tranche I
Debt Instrument [Line Items]
Debt Instrument face amount				$ 35,000			$ 35,000
Maturity period				42 months
Maturity date				Jan. 01, 2022
Debt instrument, principal payments				$ 0
Stated interest rate				9.35%	8.85%
Debt instrument, frequency of interest payment				payable monthly	payable monthly
Hercules Capital, Inc \| Tranche II
Debt Instrument [Line Items]
Debt Instrument face amount			$ 20,000			$ 20,000
Stated interest rate			9.10%		8.60%	9.10%
Debt instrument, frequency of interest payment			payable monthly		payable monthly
Debt instrument, principal outstanding			$ 55,000			$ 55,000
Debt instrument maturity date extension			Jul. 01, 2022
Hercules Capital, Inc \| Tranche III
Debt Instrument [Line Items]
Debt Instrument face amount								$ 20,000
Stated interest rate					9.10%
Debt instrument, frequency of interest payment					payable monthly
Debt instrument, principal outstanding								$ 75,000
Hercules Capital, Inc \| Prime Rate \| Tranche I
Debt Instrument [Line Items]
Interest rate				4.35%	3.85%
Stated interest rate			9.85%		8.85%	9.85%
Hercules Capital, Inc \| Prime Rate \| Tranche II
Debt Instrument [Line Items]
Interest rate			3.35%		2.85%
Stated interest rate			9.10%		8.60%	9.10%
Hercules Capital, Inc \| Prime Rate \| Tranche III
Debt Instrument [Line Items]
Interest rate					3.10%
Stated interest rate					9.10%
Silicon Valley Bank and Hercules Loan Agreement \| Maximum \| Eidos
Debt Instrument [Line Items]
Debt Instrument face amount	$ 55,000
Silicon Valley Bank and Hercules Loan Agreement \| Tranche I \| Eidos
Debt Instrument [Line Items]
Debt instrument end date of available for drawn	Oct. 31, 2020
Debt instrument drawn amount	$ 17,500
Silicon Valley Bank and Hercules Loan Agreement \| Tranche I \| Maximum \| Eidos
Debt Instrument [Line Items]
Debt Instrument face amount	$ 17,500
Silicon Valley Bank and Hercules Loan Agreement \| Tranche B Loan [Member] \| Eidos
Debt Instrument [Line Items]
Debt instrument end date of available for drawn	Oct. 31, 2020
Silicon Valley Bank and Hercules Loan Agreement \| Tranche B Loan [Member] \| Maximum \| Eidos
Debt Instrument [Line Items]
Debt Instrument face amount	$ 22,500
Silicon Valley Bank and Hercules Loan Agreement \| Tranche C Loan [Member] \| Eidos
Debt Instrument [Line Items]
Debt instrument end date of available for drawn	Sep. 30, 2021
Silicon Valley Bank and Hercules Loan Agreement \| Tranche C Loan [Member] \| Maximum \| Eidos
Debt Instrument [Line Items]
Debt Instrument face amount	$ 15,000
Silicon Valley Bank and Hercules Loan Agreement \| Tranche I \| Eidos
Debt Instrument [Line Items]
Maturity date	Oct. 02, 2023
Stated interest rate	8.50%
Debt instrument end date of interest only payments	Nov. 01, 2021
Commitment fee	$ 300
Final payment charge percentage	5.95%
Silicon Valley Bank and Hercules Loan Agreement \| Tranche I \| Maximum \| Eidos
Debt Instrument [Line Items]
Percentage of prepayment fee	2.50%
Silicon Valley Bank and Hercules Loan Agreement \| Tranche I \| Minimum \| Eidos
Debt Instrument [Line Items]
Percentage of prepayment fee	0.75%
Silicon Valley Bank and Hercules Loan Agreement \| Prime Rate \| Tranche I \| Eidos
Debt Instrument [Line Items]
Interest rate	3.25%				8.50%
S V B And Hercules Loan \| Tranche I \| Eidos
Debt Instrument [Line Items]
Debt instrument, principal outstanding	$ 16,100				$ 16,100
Commitment fee	300
Discount on issuance of debt	2,500
Embedded derivative liability	1,100				$ 1,100
Final payment charge of debt due on maturity	1,000
Other debt issuance costs	$ 100
Valuation assumptions, discount rate					11.60%
Fair value of derivative liability					$ 1,200
Unamortized debt discounts					2,400
Interest expense and amortization of debt discount					300
S V B And Hercules Loan \| Tranche I \| Eidos \| If conditions are met prior to November 13, 2021
Debt Instrument [Line Items]
Success fees amount payable					1,000
S V B And Hercules Loan \| Tranche I \| Eidos \| If conditions are met after November 19, 2021
Debt Instrument [Line Items]
Success fees amount payable					$ 2,000

Income Taxes - Components of Net Loss Before Income Taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Income Tax Disclosure [Abstract]
Domestic	$ 288,585	$ 169,451	$ 43,832
Total loss before income taxes	$ 288,585	$ 169,451	$ 43,832

Net Loss Per Share - Schedule of Common Stock Equivalents were Excluded from Computation of Diluted Net Loss per Share (Detail) - shares	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of diluted net loss per share	10,722,263	5,355,166	6,633,375
Unvested RSAs
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of diluted net loss per share	5,603,452	5,355,166	6,633,375
Unvested RSUs
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of diluted net loss per share	362,163
Unvested Market-Based RSUs
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of diluted net loss per share	129,871
Common Stock Options Issued And Outstanding
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of diluted net loss per share	4,626,777

Stock-Based Compensation - Schedule of Assumptions Used to Determine Fair Value of Stock Option Granted (Details) - 2018 Employee Stock Purchase Plan	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Expected term in years	6 months	5 months 23 days
Expected volatility	63.06%	70.40%
Risk-free interest rate	2.32%	1.50%
Dividend yield	0.00%	0.00%

Fair Value Measurement - Summary of Changes in Estimated Fair Value of Liability (Details) - LEO Call Option - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Fair Value Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Beginning balance	$ 3,009
Initial fair value of Liability		$ 1,879
Change in fair value upon remeasurement recognized in other income (expense), net	1,069	1,130
Ending balance	$ 4,078	$ 3,009

Asset Acquisitions - Additional Information (Details) - USD ($)	1 Months Ended					12 Months Ended
	Jul. 31, 2019	Jun. 30, 2019	Jun. 30, 2018	Jan. 31, 2018	Jul. 31, 2017	Dec. 31, 2019
Retinagenix, Inc.
Business Acquisition Equity Interests Issued Or Issuable [Line Items]
Percentage of equity acquired		100.00%
Origin Biosciences, Inc.
Business Acquisition Equity Interests Issued Or Issuable [Line Items]
Asset acquisition cash payment			$ 1,000,000
QED Therapeutics, Inc
Business Acquisition Equity Interests Issued Or Issuable [Line Items]
Asset acquisition cash payment				$ 15,000,000
QED Therapeutics, Inc \| Series A Preferred Stock
Business Acquisition Equity Interests Issued Or Issuable [Line Items]
Asset acquisition issuance of share				2,941,176
Asset acquisition fair value price per share				$ 0.59
Asset acquisition fair value of shares issued				$ 1,700,000
Phoenix Tissue Repair, Inc (“PTR”)
Business Acquisition Equity Interests Issued Or Issuable [Line Items]
Regulatory milestone payments					$ 27,000,000
Sales milestone payments					60,000,000
Asset acquisition cash payment					$ 1,500,000
Asset acquisition issuance of share					10,019,900
In Process Research and Development \| Retinagenix, Inc.
Business Acquisition Equity Interests Issued Or Issuable [Line Items]
Fair value of assets acquired		$ 500,000
In Process Research and Development \| Origin Biosciences, Inc.
Business Acquisition Equity Interests Issued Or Issuable [Line Items]
Fair value of assets acquired			1,000,000
In Process Research and Development \| QED Therapeutics, Inc
Business Acquisition Equity Interests Issued Or Issuable [Line Items]
Fair value of assets acquired				16,700,000
In Process Research and Development \| Phoenix Tissue Repair, Inc (“PTR”)
Business Acquisition Equity Interests Issued Or Issuable [Line Items]
Fair value of assets acquired					$ 1,500,000	$ 2,000,000
Maximum \| Retinagenix, Inc.
Business Acquisition Equity Interests Issued Or Issuable [Line Items]
Regulatory milestone payments		7,000,000
Sales milestone payments		$ 65,000,000
Maximum \| Origin Biosciences, Inc.
Business Acquisition Equity Interests Issued Or Issuable [Line Items]
Regulatory milestone payments			3,000,000
Sales milestone payments			17,000,000
Business combination required milestone payments			$ 18,800,000
Maximum \| QED Therapeutics, Inc
Business Acquisition Equity Interests Issued Or Issuable [Line Items]
Regulatory milestone payments				60,000,000
Sales milestone payments				$ 35,000,000
ML Bio
Business Acquisition Equity Interests Issued Or Issuable [Line Items]
Business Combination, recognized loss transaction	$ 400,000
Cash consideration paid	7,000,000
Fair value of noncontrolling interest issued	4,000,000
Fair value of identifiable net assets acquired	10,600,000
Business combination, acquired amortized						$ 200,000
ML Bio \| In Process Research and Development
Business Acquisition Equity Interests Issued Or Issuable [Line Items]
Fair value of assets acquired	1,000,000
ML Bio \| Maximum
Business Acquisition Equity Interests Issued Or Issuable [Line Items]
Preferred stock option to purchase additional shares	$ 24,500,000

Stock-Based Compensation

12 Months Ended

Dec. 31, 2019

Stock-Based Compensation

16.	Stock-Based Compensation

Under each of the legal entity’s equity plans, we recorded stock-based compensation in the following expense categories in our consolidated statements of operations for employees and non-employees:

	Year Ended December 31, 2019
	BridgeBio Equity Plan		Eidos Equity Plan		Other Subsidiaries Equity Plan		Total
	(in thousands)
Research and development	$	986	$	2,313	$	366	$	3,665
General and administrative		14,204		3,060		445		17,709
Total stock-based compensation	$	15,190	$	5,373	$	811	$	21,374

	Year Ended December 31, 2018
	BridgeBio Equity Plan		Eidos Equity Plan		Other Subsidiaries Equity Plan		Total
	(in thousands)
Research and development	$	—	$	1,325	$	186	$	1,511
General and administrative		3,183		1,201		172		4,556
Total stock-based compensation	$	3,183	$	2,526	$	358	$	6,067

	Year Ended December 31, 2017
	BridgeBio Equity Plan		Eidos Equity Plan		Other Subsidiaries Equity Plan		Total
	(in thousands)
Research and development	$	—	$	519	$	7	$	526
General and administrative		541		629		145		1,315
Total stock-based compensation	$	541	$	1,148	$	152	$	1,841

Stock-Based Awards of the Corporation

On June 22, 2019, we adopted the 2019 Stock Option and Incentive Plan (the “2019 Plan”), which became effective on June 25, 2019. The 2019 Plan provides for the grant of stock-based incentive awards, including common stock options and other stock-based awards. We were authorized to issue 11,500,000 shares of common stock for issuance of awards under the 2019 Plan, which may be allocated among stock options, awards of restricted common stock, restricted common units and other stock-based awards.

The 2019 Plan provides that the number of shares reserved and available for issuance will automatically increase each January 1, beginning on January 1, 2020, by 5% of the issued and outstanding number of shares of common stock on the immediately preceding December 31, or such lesser number of shares as determined by the Compensation Committee of the Board of Directors.

On November 13, 2019, the we adopted the 2019 Inducement Equity Plan (the “2019 Inducement Plan”). The 2019 Inducement Plan provides for the grant of stock-based awards to induce highly-qualified prospective officers and employees who are not currently employed by the Corporation or its Subsidiaries to accept employment and to provide them with a proprietary interest in the Company, including common stock options and other stock-based awards. We were authorized to issue 1,000,000 shares of common stock for inducement awards under the 2019 Inducement Plan, which may be allocated among stock options, awards of restricted common stock, restricted common units and other stock-based awards.

The following table summarizes our authorized shares activity under the 2019 Plan and the 2019 Inducement Plans (the “Plans”):

	2019 Plan			2019 Inducement Plan
Balance as of December 31, 2018		—			—
Authorized		11,500,000			1,000,000
Granted — Stock options		(4,397,117	)		(253,974	)
Granted — Restricted stock units		(181,274	)		(180,889	)
Granted — Restricted stock awards		(6,819,455	)		—
Granted — Common stock		(2,682	)		(22,839	)
Granted — Market-based restricted stock units		(76,637	)		(53,234	)
Cancelled — Stock options		23,365			—
Cancelled — Restricted stock		6,867			—
Balance as of December 31, 2019		53,067			489,064

Stock Option Grants of the Corporation

The following table summarizes the Corporation’s stock option activity under the Plans for the period through December 31, 2019:

	Options Outstanding			Weighted- Average Exercise Price per Option		Weighted- Average Remaining Contractual Life (years)		Aggregate Intrinsic Value
	(in thousands, except share and per share amounts)
Outstanding as of December 31, 2018		—		$	—		—	$	—
Granted		4,651,091		$	20.09
Exercised		(949	)	$	17.00
Cancelled		(23,365	)	$	17.00
Outstanding as of December 31, 2019		4,626,777		$	20.10		9.6	$	70,348
Exercisable as of December 31, 2019		514,472		$	17.89		9.5	$	8,830

The options granted to employees and non-employees are exercisable at the price of the Corporation’s common stock at the respective grant dates. The options granted have a service condition and generally vest over a period of four years.

The aggregate intrinsic value of options outstanding and exercisable as of December 31, 2019 is calculated based on the difference between the exercise price and the current fair value the Corporation’s common stock.

During the year ended December 31, 2019, we recognized stock-based compensation expense of $3.9 million related to stock options under the Plans. As of December 31, 2019, there was $32.2 million of total unrecognized compensation cost related to stock options under the Plans. The unrecognized stock-based compensation cost is expected to be recognized over a weighted-average period of 3.4 years.

Restricted Stock Units (RSUs) of the Corporation

During the year ended December 31, 2019, the Board of Directors approved grants of RSUs to senior management and officers subject to continued employment and generally vest over a period of four years.

As of December 31, 2019, there are 362,163 RSUs issued and outstanding with weighted average grant date fair value of $31.98. There were no releases of RSUs during the year ended December 31, 2019.

During the year ended December 31, 2019, we recognized stock-based compensation expense of $0.2 million related to shares of RSUs under the Plans. As of December 31, 2019, there was $11.4 million of total unrecognized compensation cost related to RSUs under the Plans. The unrecognized stock-based compensation cost is expected to be recognized over a weighted-average period of 4.0 years.

Restricted Stock Awards (RSAs) of the Corporation

As disclosed in Note 3, upon the Reorganization, all unvested outstanding management incentive units and common units of BBP LLC were cancelled and converted into shares of the Corporation’s RSAs.

The following table summarizes our RSA activity under the Plans for the period through December 31, 2019:

	Unvested Shares of Restricted Stock Outstanding			Weighted- Average Grant Date Fair Value
Balance at December 31, 2018		—			—
BBP LLC units converted into shares of unvested restricted stock of the Corporation		6,819,455		$	3.38
Vested		(1,209,136	)	$	2.24
Cancelled		(6,867	)	$	7.27
Balance at December 31, 2019		5,603,452		$	3.63

During the year ended December 31, 2019, we recognized stock-based compensation expense of $4.2 million related to RSAs under the Plans. As of December 31, 2019, there was $26.0 million of total unrecognized compensation cost related to RSAs under the Plans. The unrecognized stock-based compensation cost is expected to be recognized over a weighted-average period of 3.5 years. The 5,603,452 unvested RSAs as of December 31, 2019 are included as outstanding shares disclosed in the consolidated balance sheet as of December 31, 2019 as the shares were actually issued upon Reorganization but are subject to forfeiture per the terms of the awards.

Market-Based RSUs of the Corporation

During the year ended December 31, 2019, the Board of Directors approved and granted market-based RSUs. One such market-based RSU award includes a market condition based on the Total Shareholders’ Return (TSR) of the Corporation’s common stock as compared to the TSR of the Nasdaq Biotechnology Index and the vesting percentage of the award is calculated based on the three-year performance period from vesting commencement date. The other market-based RSU award includes a market condition based on the Corporation’s market capitalization reaching $5.0 billion and vests immediately at 100% upon achievement of said market capitalization. The market-based RSUs require continuous employment.

The respective grant date fair values of these awards, which aggregate to $3.8 million for the year December 31, 2019, were determined using a Monte Carlo valuation model and are recognized as compensation expense over the implied service period of the awards.

As of December 31, 2019, there are 129,871 market-based RSUs outstanding with weighted average grant date fair value of $28.98. For the year ended December 31, 2019, we recognized $2.3 million stock-based compensation expense related to market-based RSU awards. As of December 31, 2019, there was $1.5 million of total unrecognized compensation cost related to market-based RSUs under the Plans. There were no such awards prior to 2019.

2019 Employee Stock Purchase Plan

On June 22, 2019, we adopted the 2019 Employee Stock Purchase Plan (the “ESPP”) which became effective on June 25, 2019. The ESPP initially reserves and authorizes the issuance of up to a total of 2,000,000 shares of common stock to participating employees. The ESPP provides that the number of shares reserved and available for issuance will automatically increase each January 1, beginning on January 1, 2020, by the lower of: i) 1% of the outstanding number of shares of common stock on the immediately preceding December 31, ii) 2,000,000 shares or iii) such lesser number of shares as determined by the Compensation Committee.

Under the ESPP, eligible employees may purchase shares of BridgeBio common stock through payroll deductions at a price equal to 85% of the lower of the fair market values of the stock as of the beginning or the end of six-month offering periods. An employee’s payroll deductions under the ESPP are limited to 15% of the employee’s compensation and employees may not purchase more than 3,500 of shares of BridgeBio common stock during any offering period.

During the year ended December 31, 2019, the Company recognized stock-based compensation expense of $0.4 million related to the ESPP. As of December 31, 2019, 1,936,283 shares were reserved for future issuance under the ESPP.

We used the Black-Scholes model to estimate the fair value of stock options and stock purchase rights under ESPP. For the year ended December 31, 2019, we used the following weighted-average assumptions in the Black-Scholes calculations:

	Stock Options			ESPP
Expected term (in years)	5.00-6.08				0.40
Expected volatility		37.4	%		43.4	%
Risk-free interest rate		1.84	%		2.12	%
Dividend yield		—			—
Weighted-average fair value of stock-based awards granted	$	7.81		$	5.51

Equity-Based Awards of BBP LLC

Up until the reorganization, BBP LLC issued management incentive units and common units (collectively, “BBP LLC equity-based awards”). BBP LLC’s Second Amended and Restated Limited Liability Company Agreement, Third Amended and Restated Limited Liability Company Agreement and LLC Agreement provided for the issuance of Management Incentive Units and Common Units to employees and non-employees. During 2019, 2018 and 2017, BBP LLC issued Management Incentive Units and Common Units based on the approval of the board of BBP LLC for each grant date.

Under the terms of the Management Incentive Units’ agreements, the vesting schedule is typically 1/60th of the total number of Management Incentive Units, which vest on each monthly anniversary of the vesting commencement date, subject to continued service to BridgeBio. If a Fundamental Transaction takes place, the remaining vesting related to the Management Incentive Units and Common Units will accelerate. Under the terms of the Common Units’ agreements, the vesting schedule is typically between two and five years with vesting taking place on each monthly anniversary of the vesting commencement date, subject to continued service to BBP LLC through the applicable vesting date.

No distributions can be made to the holders of Management Incentive Units until the aggregate distributions made to other members (Preferred Unit, Founder Unit and Common Unit members) exceed the Management Incentive Units’ participation threshold. BridgeBio has determined that the underlying terms and intended purpose of the Management Incentive Units and Common Units are more akin to an equity-based compensation for employees and non-employees than a performance bonus or profit-sharing arrangement.

As described in Note 3, BBP LLC equity-based awards were cancelled and exchanged for shares of BridgeBio restricted common stock. For the years ended December 31, 2019, 2018 and 2017, equity-based compensation from BBP LLC equity-based awards was $3.4 million, $3.2 million and $0.5 million, respectively.

The following table summarizes authorized BBP LLC equity-based awards activity as if the Management Incentive Units and Common Units were converted to restricted common stock of the Corporation at the earliest period presented:

	Equivalent Shares of the Corporation's Restricted Common Stock
Balance as of January 1, 2017		5,850,264
Granted		4,073,919
Cancelled		(479,114	)
Balance as of December 31, 2017		9,445,069
Granted		550,677
Cancelled		(1,263	)
Balance as of December 31, 2018		9,994,483
Authorized and granted		2,587,939
Cancelled		(842	)
Converted into common stock of the Corporation		(5,762,125	)
Converted into unvested restricted common stock of the Corporation		(6,819,455	)
Balance as of December 31, 2019		—

The following table summarizes vested BBP LLC equity-based awards activity as if the Management Incentive Units and Common Units were converted to restricted common stock of the Corporation at the earliest period presented:

	Equivalent Shares of the Corporation's Restricted Common Stock			Weighted- Average Grant Date Fair Value
Balance at January 1, 2017		1,495,037		$	0.31
Vested		1,316,657		$	0.36
Balance at December 31, 2017		2,811,694		$	0.34
Vested		1,827,623		$	0.62
Balance at December 31, 2018		4,639,317		$	0.45
Vested		1,122,808		$	2.10
Converted into common stock of the Corporation		(5,762,125	)	$	0.72
Balance at December 31, 2019		—		$	—

The estimated grant-date fair value of each Common Unit and Management Incentive Unit award was calculated using the Black-Scholes option pricing model, based on assumptions as follows:

	Year Ended December 31,
	2019		2018		2017
Expected term (in years)	1.50		0.75-1.50		1.50
Expected volatility	48.0%-49.0%		40.0%-49.0%		45.0%
Risk-free interest rate	2.34%-2.56%		1.70%-2.56%		1.70%
Dividend yield		—		—		—

The fair value of each Common Unit and Management Incentive Unit award was determined using the methods and assumptions discussed below. Each of these inputs is subjective and generally requires significant judgement and estimation.

Fair value of Management Incentive Units and Common Units —Because there was no public market for BBP LLC’s units as BBP LLC was a private company, BBP LLC’s board determined the fair value of Common Units and Management Incentive Units by considering a number of objective and subjective factors, including having contemporaneous and retrospective valuations of its equity performed by a third-party valuation specialist, valuations of comparable peer public companies, sales of BBP LLC’s redeemable convertible preferred units, operating and financial performance, the lack of liquidity of BBP LLC’s units and general and industry-specific economic outlook.

Expected term —The expected term was based on BBP LLC’s expectations with regard to an exit strategy such as an IPO or liquidation event.

Expected volatility — BBP LLC was a private company and lacks company-specific historical and implied volatility information. Therefore, it estimated its expected share volatility based on the historical volatility of a set of publicly traded peer companies and expected to continue to do so until such time as it has adequate historical data regarding the volatility of its own traded share price.

Risk-free interest rate —The risk-free interest rate was determined by reference to the United States Treasury yield curve in effect at the time of grant of the award for time periods approximately equal to the expected term of the award.

Expected dividend —The dividend yield was assumed to be immaterial based on future distribution expectations throughout the expected term.

Each of the above inputs was subjective and generally required significant judgement and estimation.

Equity Awards of Eidos

Eidos 2016 Equity Incentive Plan

In April 2016, Eidos established its 2016 Equity Incentive Plan (the “Eidos 2016 Plan”), which provides for the granting of equity awards to employees and consultants of Eidos. Awards granted under the Eidos 2016 Plan may be either incentive stock options (“ISOs”), nonqualified stock options (“NSOs”) or restricted stock awards. ISOs may be granted only to Eidos employees (including officers and directors who are also employees). NSOs may be granted to Eidos employees and consultants. The exercise price of an ISO and NSO shall not be less than 100% of the estimated fair value of the shares on the date of grant, as determined by the Eidos Board of Directors. The exercise price of an ISO granted to an employee who at the time of grant is a 10% stockholder shall not be less than 110% of the estimated fair value of the shares on the date of grant, as determined by the Eidos Board of Directors. To date, ISOs and NSOs have a term of ten years and generally vest over a four-year period with annual cliff vesting and the balance monthly over 36 months. Upon completion of the Eidos IPO, the remaining shares available for issuance under the Eidos 2016 Plan were retired.

Eidos Amended and Restated 2018 Stock Option and Incentive Plan

In May 2018, the Eidos Board of Directors and stockholders approved the Amended and Restated 2018 Stock Option and Incentive Plan (the “Eidos 2018 Plan”), to replace the Eidos 2016 Plan. The Eidos 2018 Plan became effective upon the Eidos IPO and is administered by the Eidos Board of Directors or an appointed committee, which determines the types of awards to be granted, including the number of shares subject to the awards, the exercise price and the vesting schedule. Under the Eidos 2018 Plan, 598,000 shares of Eidos’ common stock have been initially reserved for the issuance of stock options, restricted stock units and other awards to employees, directors and consultants. Options granted under the Eidos 2018 Plan expire no later than 10 years from the date of grant. The exercise price of each option may not be less than 100% of the fair market value of the common stock at the date of grant. Options may be granted to stockholders possessing more than 10% of the total combined voting power of all classes of stocks of Eidos at an exercise price at least 110% of the fair value of the common stock at the date of grant and the options are not exercisable after the expiration of 10 years from the date of grant. Employee stock options generally vest 25% upon one year of continued service to Eidos, with the remainder in monthly increments over three additional years. Upon adoption of the Eidos 2018 Plan, no additional stock awards will be issued under the Eidos 2016 Plan. Options granted under the Eidos 2016 Plan that were outstanding on the date the Eidos 2018 Plan became effective remain subject to the terms of the Eidos 2016 Plan. In December 2018, the Eidos Board of Directors approved an increase in the number of shares reserved under the Eidos 2018 Plan by 700,000 shares, and this increase was approved by Eidos’ stockholders in June 2019. In December 2019, Eidos’ board of directors approved an additional increase in the number of shares reserved under the 2018 Plan by 1,500,000 shares. As of December 31, 2019, Eidos has reserved 2,798,000 shares of common stock for issuance under the 2018 Plan, of which the 1,500,000 shares subject to the December 2019 increase remain subject to stockholder approval.

Eidos Employee Stock Purchase Plan

In May 2018, Eidos board of directors and stockholders approved the 2018 Employee Stock Purchase Plan, or the 2018 ESPP, which became effective upon the IPO. The 2018 ESPP is intended to qualify as an employee stock purchase plan under Section 423 of the Internal Revenue Code of 1986, as amended, and is administered by Eidos’ board of directors and the Compensation Committee of the board of directors. Under the 2018 ESPP, 143,520 shares of Eidos’ common stock have been initially reserved for employee purchases of Eidos’ common stock. The 2018 ESPP allows eligible employees to purchase shares of Eidos common stock at a discount through payroll deductions of up to 20% of their eligible compensation. At the end of each offering period, employees are able to purchase shares at 85% of the lower of the fair market value of Eidos’ common stock at the beginning of the offering period or at the end of each applicable purchase period. The first purchase period commenced upon the completion of Eidos’ IPO and ended on November 30, 2018.

The fair value of the rights granted under the Eidos 2018 ESPP was calculated using the Black-Scholes option-pricing model with the following assumptions:

	Year Ended December 31,			Year Ended December 31,
	2019			2018
Expected term in years	0.50			0.48
Expected volatility		63.06	%		70.40	%
Risk-free interest rate		2.32	%		1.50	%
Dividend yield		0	%		0	%

Eidos Stock Options

Activity under the Eidos equity incentive plans is set forth below:

							Weighted-		Weighted-
							Average		Average
	Options						Exercise		Remaining		Aggregate
	Available for			Options			Price per		Contractual		Intrinsic
	Grant			Outstanding			Option		Life (years)		Value
	(in thousands, except per share and per share data)
Outstanding as of December 31, 2018		747,057			1,329,762		$	8.55		9.40	$	6,928
Additional authorized		1,500,000			—		$	—
Options granted		(365,573	)		365,573		$	34.51
Options exercised		—			(306,010	)	$	3.30
Options cancelled		53,570			(53,570	)	$	7.24
Outstanding—December 31, 2019		1,935,054			1,335,755		$	16.91		8.77	$	54,071
Options exercisable—December 31, 2019					241,289		$	11.16		8.50	$	11,155
Options vested and expected to vest—December 31, 2019					1,335,755		$	16.91		8.77	$	54,071

Aggregate intrinsic value represents the difference between Eidos’ estimated fair value of its common stock and the exercise price of outstanding in–the–money options. The total intrinsic value of options exercised was $12.3 million, $0.9 million and $2.9 million for the years ended December 31, 2019, 2018 and 2017, respectively.

The total fair value of Eidos shares vested during the years ended December 31, 2019, 2018 and 2017 was $5.2 million, $2.5 million and $0.5 million, respectively.

Eidos Stock Options Granted to Non-employees

Stock-based compensation related to stock options granted to non-employees is recognized as the stock options are earned. The fair value of non-employee stock options is estimated using the Black-Scholes valuation model with assumptions generally consistent with those used for employee stock options, with the exception of the expected term, which is the remaining contractual life at each measurement date. During the years ended December 31, 2019, 2018 and 2017, Eidos granted 20,361, 35,880 and 569,252 shares, respectively, to non-employee consultants. Eidos recognized stock-based compensation expense for non-employee awards during the years ended December 31, 2019, 2018 and 2017 of $0.1 million, $1.7 million and $ 0.7 million, respectively.

Eidos Stock Options Valuation

Prior to the completion of Eidos’ IPO, the fair value of Eidos shares of common stock underlying its stock options had historically been determined by Eidos board of directors. Because there had been no public market for the Eidos common stock prior to June 2018, Eidos board of directors had determined fair value of the common stock at the time of grant of the option by considering a number of objective and subjective factors including important developments in the Eidos operations, valuations performed by an independent third party, sales of redeemable convertible preferred stock, actual operating results and financial performance, the conditions in the biotechnology industry and the economy in general, the stock price performance and volatility of comparable public companies, and the lack of liquidity of Eidos common stock, among other factors. For stock options granted after the completion of the IPO, Eidos determines the fair value of each share of underlying common stock based on the closing price of Eidos common stock as reported on the date of grant.

The fair value of employee and non-employee director of Eidos stock option awards was estimated at the date of grant using a Black-Scholes option-pricing model with the following assumptions:

	Year Ended						Year Ended						Year Ended
	December 31, 2019						December 31, 2018						December 31, 2017
	Employee			Non- employee			Employee			Non- employee			Employee			Non- employee
Expected term (in years)		6.07			6.09			6.08			9.20			5.83			9.66
Expected volatility		72.4	%		73.7	%		72.0	%		73.9	%		68.4	%		80.1	%
Risk-free interest rate		1.95	%		2.49	%		2.87	%		2.66	%		2.27	%		2.41	%
Dividend yield	—			—			—			—			—			—

The weighted average fair value of stock-based awards granted to employees during the years ended December 31, 2019, 2018 and 2017 was $22.86 per share, $8.46 per share and $4.79 per share, respectively.

Eidos Restricted Stock

In December 2017, Eidos issued 390,546 shares of common stock for no consideration to the founders pursuant to Eidos’ Series Seed Preferred Stock Purchase Agreement and license agreement in connection with certain anti-dilution rights held by these parties. If the shares issued under the license agreement represent less than 1% of the shares issued and outstanding of common stock on an as-converted basis, Eidos will issue additional common stock to the founders and Stanford University. Eidos has the right to repurchase the common stock at the fair value per share on the date of repurchase; this repurchase right lapses as the shares vest. The shares cliff vest 25% after one year and vest monthly thereafter over 36 months. As of December 31, 2019 and 2018, 170,866 and 268,504 shares remain subject to repurchase.

Eidos recognizes stock-based compensation expense upon the approval of these awards by the Eidos Board of Directors in September 2017 as vesting provisions are not considered substantive due to the fair value repurchase right. Stock-based compensation expense related to the restricted stock is recognized based on the fair value of the stock on the approval date using the Black-Scholes pricing model. During the years ended December 31, 2019, 2018 and 2017, Eidos recognized expense related to these awards of zero, zero and $0.2 million, respectively.

Eidos Stock-Based Compensation

As of December 31, 2019, there was $13.5 million of total unrecognized compensation cost related to unvested stock-based compensation arrangements under the Eidos 2016 and 2018 Plans. The unrecognized stock-based compensation cost is expected to be recognized over a weighted-average period 2.9 years.

Summary of Significant Accounting Policies - Summary of Reconciliation of Cash, Cash Equivalents and Restricted Cash (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents [Abstract]
Cash and cash equivalents	$ 363,773	$ 436,086	$ 91,995
Restricted cash	424	159	381
Total cash, cash equivalents and restricted cash shown in the consolidated statements of cash flows	$ 364,197	$ 436,245	$ 92,376	$ 20,345

Term Loan - Schedule of Term Loans Balance (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Debt Instrument [Line Items]
Principal value of term loans	$ 75,000
Term loans, noncurrent	91,791	$ 54,507
Hercules Term Loan [Member]
Debt Instrument [Line Items]
Principal value of term loans	75,000	55,000
Debt issuance costs and debt accretion	679	(493)
Term loans, noncurrent	$ 75,679	$ 54,507

Related Party Transactions

12 Months Ended

Dec. 31, 2019

Related Party Transactions

15.	Related Party Transactions

PellePharm

During the year ended December 31, 2019 and during November through December 2018, we provided nominal services to PellePharm.

Fair Value Measurement - Financial Assets and Liabilities Measured at Fair Value on Recurring Basis (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Cash equivalents:
Total cash equivalents	$ 307,736
Repurchase Agreements
Cash equivalents:
Total cash equivalents	59,000
Recurring
Cash equivalents:
Total cash equivalents	307,736
Short-term marketable securities:
U.S. treasury notes	182,220
Long-term marketable securities:
Total long-term marketable securities	31,144
Total cash equivalents and marketable securities	521,100
Liabilities:
LEO call option liability	4,078	$ 3,009
Embedded derivative	1,165
Total financial liabilities	5,243
Recurring \| Repurchase Agreements
Cash equivalents:
Total cash equivalents	59,000
Recurring \| U.S. Treasury Notes
Long-term marketable securities:
Total long-term marketable securities	15,307
Recurring \| Money Market Funds
Cash equivalents:
Total cash equivalents	248,736	395,780
Recurring \| U.S. Treasury Notes
Short-term marketable securities:
U.S. treasury notes	45,280
Recurring \| Commercial Paper
Short-term marketable securities:
U.S. treasury notes	65,626
Recurring \| Corporate Debt Securities
Short-term marketable securities:
U.S. treasury notes	71,314
Long-term marketable securities:
Total long-term marketable securities	15,837
Recurring \| Level 1
Cash equivalents:
Total cash equivalents	307,736
Long-term marketable securities:
Total cash equivalents and marketable securities	307,736
Recurring \| Level 1 \| Repurchase Agreements
Cash equivalents:
Total cash equivalents	59,000
Recurring \| Level 1 \| Money Market Funds
Cash equivalents:
Total cash equivalents	248,736	395,780
Recurring \| Level 2
Short-term marketable securities:
U.S. treasury notes	182,220
Long-term marketable securities:
Total long-term marketable securities	31,144
Total cash equivalents and marketable securities	213,364
Recurring \| Level 2 \| U.S. Treasury Notes
Long-term marketable securities:
Total long-term marketable securities	15,307
Recurring \| Level 2 \| U.S. Treasury Notes
Short-term marketable securities:
U.S. treasury notes	45,280
Recurring \| Level 2 \| Commercial Paper
Short-term marketable securities:
U.S. treasury notes	65,626
Recurring \| Level 2 \| Corporate Debt Securities
Short-term marketable securities:
U.S. treasury notes	71,314
Long-term marketable securities:
Total long-term marketable securities	15,837
Recurring \| Level 3
Liabilities:
LEO call option liability	4,078	$ 3,009
Embedded derivative	1,165
Total financial liabilities	$ 5,243

Cash Equivalents and Marketable Securities - Schedule of Cash Equivalent and Marketable Securities Classified as Available-for-Sale (Details) $ in Thousands	Dec. 31, 2019 USD ($)
Cash And Cash Equivalents [Line Items]
Amortized Cost Basis Cash Equivalents	$ 307,736
Total cash equivalents	307,736
Amortized Cost Basis	520,846
Unrealized Gains	254
Fair value	521,100
Money Market Funds
Cash And Cash Equivalents [Line Items]
Amortized Cost Basis Cash Equivalents	248,736
Total cash equivalents	248,736
Repurchase Agreements
Cash And Cash Equivalents [Line Items]
Amortized Cost Basis Cash Equivalents	59,000
Total cash equivalents	59,000
Short-term Marketable Securities
Cash And Cash Equivalents [Line Items]
Amortized Cost Basis	182,081
Unrealized Gains	139
Fair value	182,220
Short-term Marketable Securities \| U.S. Treasury Securities
Cash And Cash Equivalents [Line Items]
Amortized Cost Basis	45,224
Unrealized Gains	56
Fair value	45,280
Short-term Marketable Securities \| Commercial Paper
Cash And Cash Equivalents [Line Items]
Amortized Cost Basis	65,626
Fair value	65,626
Short-term Marketable Securities \| Corporate Debt Securities
Cash And Cash Equivalents [Line Items]
Amortized Cost Basis	71,231
Unrealized Gains	83
Fair value	71,314
Long-term Marketable Securities
Cash And Cash Equivalents [Line Items]
Amortized Cost Basis	31,029
Unrealized Gains	115
Fair value	31,144
Long-term Marketable Securities \| U.S. Treasury Securities
Cash And Cash Equivalents [Line Items]
Amortized Cost Basis	15,248
Unrealized Gains	59
Fair value	15,307
Long-term Marketable Securities \| Corporate Debt Securities
Cash And Cash Equivalents [Line Items]
Amortized Cost Basis	15,781
Unrealized Gains	56
Fair value	$ 15,837

Variable Interest Entities and Voting Interest Model - Additional Information (Details) - USD ($)	1 Months Ended								12 Months Ended
	Sep. 30, 2019	Jul. 31, 2019	May 31, 2019	Jun. 30, 2018	May 31, 2018	Mar. 31, 2018	Feb. 28, 2018	Apr. 30, 2016	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Variable Interest Entity [Line Items]
Noncontrolling interests									$ 65,279,000	$ 62,361,000	$ 2,498,000	$ 2,595,000
Common stock									124,000	92,000	51,000	21,000
Eidos
Variable Interest Entity [Line Items]
Noncontrolling interests									59,722,000	58,185,000	766,000	$ 605,000
ML Bio
Variable Interest Entity [Line Items]
Preferred stock, value		$ 7,000,000
Phoenix Tissue Repair, Inc (“PTR”)
Variable Interest Entity [Line Items]
Noncontrolling interests									1,298,000	2,728,000	227,000
Adrenas Therapeutics, Inc
Variable Interest Entity [Line Items]
Noncontrolling interests									696,000	217,000
Venthera, Inc.
Variable Interest Entity [Line Items]
Noncontrolling interests									140,000	449,000
Aspa
Variable Interest Entity [Line Items]
Noncontrolling interests									$ 250,000	245,000
Variable Interest Entity, Primary Beneficiary \| Eidos
Variable Interest Entity [Line Items]
Convertible promissory note, principal amount							$ 10,000,000
Preferred stock, value							$ 4,000,000
Ownership percentage transferred to minority stockholder						10.00%
Noncontrolling interests						$ 1,000,000
Percentage of discount at redemption						30.00%
Variable Interest Entity, Primary Beneficiary \| Eidos
Variable Interest Entity [Line Items]
Investments								$ 1,000,000
Contributions					$ 11,200,000
Common stock, value		$ 26,400,000	$ 28,600,000	$ 17,000,000
Voting shares									50.00%
Purchase of common stock, shares		882,353	1,103,848
Variable Interest Entity, Primary Beneficiary \| Eidos \| Market Sales Agreement
Variable Interest Entity [Line Items]
Shares issued									385,613
Percentage of cash commission			3.00%
Net proceeds issued from offerings									$ 23,900,000
Variable Interest Entity, Primary Beneficiary \| Eidos \| Market Sales Agreement \| Maximum
Variable Interest Entity [Line Items]
Common stock			$ 100,000,000
Variable Interest Entity, Primary Beneficiary \| Eidos \| Common Stock
Variable Interest Entity [Line Items]
Shares issued	556,173
Variable Interest Entity, Primary Beneficiary \| Molecular Skin Therapeutics, Inc
Variable Interest Entity [Line Items]
Investments									1,400,000	1,200,000	1,500,000
Variable Interest Entity, Primary Beneficiary \| Quartz Therapeutics, Inc
Variable Interest Entity [Line Items]
Investments											4,000,000
Convertible notes outstanding									400,000	1,100,000
Variable Interest Entity, Primary Beneficiary \| Navire Pharma, Inc
Variable Interest Entity [Line Items]
Investments									4,500,000	6,800,000	3,200,000
Variable Interest Entity, Primary Beneficiary \| CoA Therapeutics, Inc
Variable Interest Entity [Line Items]
Investments									5,100,000	7,000,000	1,500,000
Variable Interest Entity, Primary Beneficiary \| Dermecular Therapeutics, Inc
Variable Interest Entity [Line Items]
Investments										700,000	4,500,000
Variable Interest Entity, Primary Beneficiary \| Phoenix Tissue Repair, Inc (“PTR”)
Variable Interest Entity [Line Items]
Investments									7,000,000	10,500,000	$ 3,000,000
Variable Interest Entity, Primary Beneficiary \| Adrenas Therapeutics, Inc
Variable Interest Entity [Line Items]
Investments									21,600,000	13,400,000
Variable Interest Entity, Primary Beneficiary \| QED Therapeutics, Inc
Variable Interest Entity [Line Items]
Investments									100,000,000	50,000,000
Variable Interest Entity, Primary Beneficiary \| Orfan Biotech, Inc
Variable Interest Entity [Line Items]
Investments									9,700,000	3,000,000
Variable Interest Entity, Primary Beneficiary \| Ferro Therapeutics, Inc.
Variable Interest Entity [Line Items]
Investments									7,000,000	3,000,000
Variable Interest Entity, Primary Beneficiary \| Venthera, Inc.
Variable Interest Entity [Line Items]
Investments									4,500,000	5,500,000
Variable Interest Entity, Primary Beneficiary \| Aspa
Variable Interest Entity [Line Items]
Investments									15,600,000	8,000,000
Variable Interest Entity, Primary Beneficiary \| Origin Biosciences, Inc.
Variable Interest Entity [Line Items]
Investments									24,000,000	10,000,000
Variable Interest Entity, Primary Beneficiary \| Theras
Variable Interest Entity [Line Items]
Investments									$ 14,000,000	$ 5,000,000

Reorganization - Summary of Number of Shares of Common Stock Issued to BBP LLC Unitholders inReorganization (Details) - BBP LLC	Jun. 13, 2019 shares
Reorganization [Line Items]
Number of BBP LLC shares issued	99,999,967
Series D Preferred Units
Reorganization [Line Items]
Number of BBP LLC shares issued	30,459,426
Series C Preferred Units
Reorganization [Line Items]
Number of BBP LLC shares issued	31,992,709
Series B Preferred Units
Reorganization [Line Items]
Number of BBP LLC shares issued	17,794,455
Series A Preferred Units
Reorganization [Line Items]
Number of BBP LLC shares issued	4,918,881
Founder Units
Reorganization [Line Items]
Number of BBP LLC shares issued	2,252,916
Common Units
Reorganization [Line Items]
Number of BBP LLC shares issued	1,794,823
Management Incentive Units
Reorganization [Line Items]
Number of BBP LLC shares issued	10,786,757

PellePharm Investment - Schedule of Amounts Related to Deconsolidation Accounting (Details) - USD ($) $ in Thousands		12 Months Ended
	Nov. 19, 2018	Dec. 31, 2018
Schedule Of Investments [Line Items]
Gain on deconsolidation of PellePharm		$ (19,327)
Decrease in cash and cash equivalents resulting from the deconsolidation of PellePharm		$ 2,858
PellePharm, Inc
Schedule Of Investments [Line Items]
Working capital (excluding cash and cash equivalents)	$ 6,134
Term loan	1,359
Property and equipment, net	(791)
Carrying value of noncontrolling interest	(688)
Carrying value of redeemable convertible noncontrolling interest	(1,154)
Fair value of interest retained by BridgeBio	17,325
Gain on deconsolidation of PellePharm	(19,327)
Decrease in cash and cash equivalents resulting from the deconsolidation of PellePharm	$ 2,858

Stock-Based Compensation - Summary of Stock Based Compensation for Employees and Non Employees (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Employee And Non Employee Service Share Based Compensation [Line Items]
Total stock-based compensation	$ 21,374	$ 6,067	$ 1,841
BridgeBio Equity Plan
Employee And Non Employee Service Share Based Compensation [Line Items]
Total stock-based compensation	15,190	3,183	541
Eidos Equity Plan
Employee And Non Employee Service Share Based Compensation [Line Items]
Total stock-based compensation	5,373	2,526	1,148
Other Subsidiaries Equity Plan
Employee And Non Employee Service Share Based Compensation [Line Items]
Total stock-based compensation	811	358	152
Research and Development Expense
Employee And Non Employee Service Share Based Compensation [Line Items]
Total stock-based compensation	3,665	1,511	526
Research and Development Expense \| BridgeBio Equity Plan
Employee And Non Employee Service Share Based Compensation [Line Items]
Total stock-based compensation	986
Research and Development Expense \| Eidos Equity Plan
Employee And Non Employee Service Share Based Compensation [Line Items]
Total stock-based compensation	2,313	1,325	519
Research and Development Expense \| Other Subsidiaries Equity Plan
Employee And Non Employee Service Share Based Compensation [Line Items]
Total stock-based compensation	366	186	7
General and Administrative
Employee And Non Employee Service Share Based Compensation [Line Items]
Total stock-based compensation	17,709	4,556	1,315
General and Administrative \| BridgeBio Equity Plan
Employee And Non Employee Service Share Based Compensation [Line Items]
Total stock-based compensation	14,204	3,183	541
General and Administrative \| Eidos Equity Plan
Employee And Non Employee Service Share Based Compensation [Line Items]
Total stock-based compensation	3,060	1,201	629
General and Administrative \| Other Subsidiaries Equity Plan
Employee And Non Employee Service Share Based Compensation [Line Items]
Total stock-based compensation	$ 445	$ 172	$ 145

Term loan

12 Months Ended

Dec. 31, 2019

Debt Disclosure [Abstract]

Term Loan

10.	Term Loans

Hercules Loan and Security Agreement

In June 2018, we executed a Loan and Security Agreement with Hercules Capital, Inc. (“Hercules”), under which we borrowed $35.0 million (“Tranche I”). The term of the loan was approximately 42 months, with a maturity date of January 1, 2022 (the “Maturity Date”). No principal payments were due during an interest-only period, commencing on the initial borrowing date and continuing through July 1, 2020 (the “Amortization Date”). The outstanding balance of the loan was to be repaid monthly beginning on the Amortization Date and extending through the Maturity Date. The term loan bears interest at a floating rate equal to the greater of: (i) the prime rate as reported in the Wall Street Journal plus 4.35% and (ii) 9.35% (9.85% as of December 31, 2018 based on the prime rate as of that date), payable monthly.

In December 2018, we executed the First Amendment to the Loan and Security Agreement, whereby we borrowed an additional $20.0 million (“Tranche II”) to increase the total principal balance outstanding to $55.0 million. Upon draw of the additional $20.0 million, the interest-only period on the entire facility was extended until January 1, 2021 (the “Amended Amortization Date”). The outstanding balance of the original loan of $35.0 million and the additional borrowing of $20.0 million is to be repaid monthly beginning on the Amended Amortization Date and extending through July 1, 2022 (the “Amended Maturity Date”). The additional $20.0 million loan bears interest at a floating rate equal to the greater of: (i) the prime rate as reported in the Wall Street Journal plus 3.35% and (ii) 9.10% (9.10% as of December 31, 2018), payable monthly.

On the earliest to occur of (i) the Amended Maturity Date, (ii) the date we prepay the outstanding principal amount of the Amended Hercules Term Loan or (iii) the date the outstanding principal amount of the Amended Hercules Term Loan otherwise becomes due, we will owe Hercules an end of term charge equal to 6.35% of the principal amount of the original $35.0 million term loan, or $2.2 million, and 5.75% of the principal amount of the incremental $20.0 million term loan, or $1.2 million. These amounts will be accrued over the term of the loan using the effective-interest method.

In May 2019, we executed the Second Amendment to the Loan and Security Agreement (the “Amended Hercules Term Loan”) whereby we borrowed an additional $20.0 million (“Tranche III”) to increase the total principal balance outstanding to $75.0 million.

In July 2019, the completion of the Corporation’s IPO triggered certain provisions of the Amended Hercules Term Loan. The Corporation received an option to pay up to 1.5% of scheduled cash pay interest on the entire facility as payment in kind, or PIK Interest, with such cash pay interest paid as PIK Interest at a 1:1.2 ratio. The interest-only period will continue through July 1, 2021 (the “Amended Amortization Date”) and the entire facility received a maturity date of January 1, 2023 (the “Amended Maturity Date”). The outstanding balance of the Amended Hercules Term Loan is to be repaid by the Corporation monthly beginning on the Amended Amortization Date and extending through the Amended Maturity Date.

The interest rate for the Amended Hercules Term Loan was established as follows: (1) Tranche I bears interest at a floating rate equal to the greater of: (i) the prime rate as reported in the Wall Street Journal plus 3.85% and (ii) 8.85% (8.85% as of December 31, 2019 based on the prime rate as of that date), payable monthly; (2) Tranche II bears interest at a floating rate equal to the greater of: (i) the prime rate as reported in the Wall Street Journal plus 2.85% and (ii) 8.60% (8.60% as of December 31, 2019), payable monthly; and (3) Tranche III bears interest at a floating rate equal to the greater of: (i) the prime rate as reported in the Wall Street Journal plus 3.10% and (ii) 9.10% (9.10% as of December 31, 2019), payable monthly.

The Amended Hercules Term Loan contains customary representations and warranties, events of default, and affirmative and negative covenants for a term loan facility of this size and type. However, Hercules imposes no liquidity covenants on us and Hercules cannot limit or restrict our ability to dispose of assets, make investments, or make acquisitions. As pledged collateral for our obligations under the Amended Hercules Term Loan, we granted Hercules a security interest in all our assets or personal property, including all equity interests owned or hereafter acquired by us. Further, at Hercules’ sole discretion we must make a mandatory prepayment equal to 75% of net cash proceeds received from the sale or licensing of any pledged or collateral assets, including intellectual property, of a consolidated entity owned by us, or the repurchase or redemption of any pledged collateral by certain specified operating companies. None of our consolidated entities are a party to, nor provide any credit support or other security in connection with the Amended Hercules Term Loan.

During the years ended December 31, 2019 and 2018, we recognized interest expense related to the Amended Hercules Term Loan of $8.3 million and $2.4 million, respectively, of which $1.4 and $0.5 million, respectively, relates to amortization of debt discount.

The term loans balance is as follows:

	December 31,
	2019		2018
	(in thousands)
Principal value of term loans	$	75,000	$	55,000
Debt issuance costs and debt accretion		679		(493	)
Term loans, noncurrent	$	75,679	$	54,507

Future minimum payments of principal and estimated payments of interest on our outstanding variable rate borrowings as of December 31, 2019 are as follows:

	Amount
	(in thousands)
Year Ending December 31:
2020	$	6,748
2021		28,825
2022		50,939
2023		8,861
Total future payments		95,373
Less amounts representing interest		(15,850	)
Less final end of term payment		(4,523	)
Total principal amount of term loan payments	$	75,000

Silicon Valley Bank and Hercules Loan Agreement

On November 13, 2019, Eidos entered into a Loan and Security Agreement with Silicon Valley Bank and Hercules Capital, Inc. (the “SVB and Hercules Loan Agreement”). The SVB and Hercules Loan Agreement provides for up to $55.0 million in term loans to be drawn in three tranches as follows: (i) Tranche A loan of $17.5 million, (ii) Tranche B loan of up to $22.5 million which is available to be drawn until October 31, 2020, and (iii) Tranche C loan of up to $15.0 million available to be drawn upon the achievement of a clinical data milestone. The Tranche C loan is available to be drawn until September 30, 2021. The Tranche A loan of $17.5 million was drawn on November 13, 2019. There have not been any additional draws on the other tranches as of December 31, 2019.

The Tranche A loan bears interest at a fixed rate equal to the greater of either (i) 8.50% or (ii) 3.25% plus the prime rate as reported in The Wall Street Journal (8.50% as of December 31, 2019). The Tranche A loan repayment schedule provides for interest only payments until November 1, 2021, followed by consecutive equal monthly payments of principal and interest commencing on this date continuing through the maturity date of October 2, 2023.

The Tranche A loan also provides for a $0.3 million commitment fee that was paid at closing and a final payment charge equal to 5.95% multiplied by the amount funded to be paid when the loan becomes due or upon prepayment of the facility. If Eidos elects to prepay the Tranche A loan, there is also a prepayment fee of between 0.75% and 2.50% of the principal amount being prepaid depending on the timing and circumstances of prepayment. The Tranche A loan is secured by substantially all of Eidos’ assets, except Eidos’ intellectual property, which is the subject of a negative pledge.

Embedded derivatives and debt discounts

On issuance, the net carrying value of the Tranche A loan was $16.1 million after deducting for various discounts on issuance of $2.5 million. The discounts relate to the recognition of a bifurcated compound embedded derivative liability of $1.1 million, the final payment charge of $1.0 million due on maturity, the $0.3 million commitment fee paid at closing and $0.1 million in other debt issuance costs. The debt discounts are being amortized to interest expense over the life of the Tranche A loan using the effective interest rate method.

Eidos determined that the requirement in its SVB and Hercules Loan Agreement to pay a Success Fee in certain events is an embedded derivative liability requiring bifurcation from the Tranche A loan proceeds and separate accounting. The Success Fee amount is $1.0 million if conditions are met prior to November 13, 2021 and $2.0 million if conditions are met after November 13, 2021. Eidos also determined that certain events of default provisions resulting in the prepayment of the loan or a change in the default rate of interest should also be recorded as an embedded derivative liability but were deemed immaterial for this reporting period due to the triggers being deemed unlikely. Eidos recorded a compound embedded derivative liability of $1.1 million on issuance, which was recorded as a derivative liability in other liabilities on the balance sheet and as a corresponding debt discount.

Eidos calculated the fair values of the derivative liability on issuance and as of December 31, 2019 based on a probability weighted valuation of certain event outcomes and discounted to the present value. The key valuation assumptions used consist of the discount rate of 11.6% and the probability of an underlying event triggering the Success Fee payment and the timing of such events. The derivative liability is being remeasured at each financial reporting period with any changes in fair value being recognized as a component of other income (expense), net. The fair value of the derivative liability was approximately $1.2 million as of December 31, 2019 and was classified as other liabilities on the balance sheet and there was an immaterial change in the fair value of the derivative liability for the year ended December 31, 2019.

The facility fee, fair value of the bifurcated embedded derivative liability on issuance, and other debt issuance costs have been treated as debt discounts on our consolidated balance sheet and together with the final payment charge are being amortized to interest expense throughout the life of the Tranche A loan using the effective interest rate method.

As of December 31, 2019, the net carrying value of the Tranche A loan is $16.1 million. As of December 31, 2019, there are unamortized debt discounts of $2.4 million. Eidos recorded interest expense and amortization of the debt discount in the amount of $0.3 million on the Tranche A loan for the year ended December 31, 2019.

Future minimum payments

The following table presents future payments of principal, interest and final payment charge on the Eidos Tranche A loan as of December 31, 2019:

	Amount
	(in thousands)
Year Ending December 31:
2020	$	1,512
2021		2,961
2022		9,787
2023		8,622
Total future payments		22,882
Less amounts representing interest		(5,382	)
Total principal amount of term loan payments	$	17,500

Stock-Based Compensation - Summary of Activity Under Eidos Equity Incentive Plans (Details) - Eidos - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Beginning balance, Awards available for grant	747,057
Additional authorized, Awards available for grant	1,500,000
Granted, Awards available for grant	(365,573)
Cancelled, Awards available for grant	53,570
Ending balance, Awards available for grant	1,935,054	747,057
Options Outstanding, Outstanding, Beginning balance	1,329,762
Options Outstanding, Granted	365,573
Options Outstanding, Exercised	(306,010)
Options Outstanding, Cancelled	(53,570)
Options Outstanding, Outstanding, Ending balance	1,335,755	1,329,762
Options Outstanding, Exercisable	241,289
Options Outstanding, Vested and expected to vest	1,335,755
Weighted-Average Exercise Price per Option, Outstanding, Beginning balance	$ 8.55
Weighted-Average Exercise Price per Option, Granted	34.51
Weighted-Average Exercise Price per Option, Exercised	3.30
Weighted-Average Exercise Price per Option, Cancelled	7.24
Weighted-Average Exercise Price per Option, Outstanding, Ending balance	16.91	$ 8.55
Weighted-Average Exercise Price per Option, Exercisable	11.16
Weighted-Average Exercise Price per Option, vested and expected to vest	$ 16.91
Weighted-Average Remaining Contractual Life (years), Outstanding, Ending balance	8 years 9 months 7 days	9 years 4 months 24 days
Weighted-Average Remaining Contractual Life (years), Exercisable	8 years 6 months
Weighted-Average Remaining Contractual Life (years), Options vested and expected to vest	8 years 9 months 7 days
Aggregate Intrinsic Value, Outstanding, Ending balance	$ 54,071	$ 6,928
Aggregate Intrinsic Value, Exercisable	11,155
Aggregate Intrinsic Value, Option vested and expected to vest	$ 54,071

Reorganization - Additional Information (Details)	Jun. 13, 2019 shares
BBP LLC
Reorganization [Line Items]
Plan of reorganization, exchanged for number of shares	6,819,455

Income Taxes - Reconciliation of Statutory Federal Rate and Effective Tax Rate (Details)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Income Tax Disclosure [Abstract]
Tax at statutory federal rate	21.00%	21.00%	34.00%
Change in valuation allowance	(25.30%)	(20.20%)	(16.40%)
Research and development credits	4.10%	1.60%	0.80%
Change in entity status	1.70%
Nontaxable partnership income	(1.40%)	(1.20%)	(1.10%)
Other	(0.10%)	(1.20%)	(1.40%)
Impact of tax reform			(15.90%)

Cash Equivalents and Marketable Securities

12 Months Ended

Dec. 31, 2019

Cash Equivalents And Marketable Securities [Abstract]

Cash Equivalents and Marketable Securities

5.	Cash Equivalents and Marketable Securities

We invest in certain money market funds and reverse repurchase agreements, classified as cash equivalents, which are collateralized by deposits in the form of U.S. treasury securities for an amount no less than 102% of their value. We do not record an asset or liability for the collateral as we do not intend to sell or re-pledge the collateral. The collateral has the prevailing credit rating of at least the U.S. government treasuries and agencies. We utilize a third-party custodian to manage the exchange of funds and ensure that collateral received is maintained at 102% of the value of the reverse repurchase agreements on a daily basis.

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

	December 31, 2019
	Amortized Cost Basis		Unrealized Gains		Unrealized Losses		Fair Value
	(in thousands)
Cash equivalents:
Money market funds	$	248,736	$	—	$	—	$	248,736
Repurchase agreements		59,000		—		—		59,000
Total cash equivalents		307,736		—		—		307,736
Short-term marketable securities:
U.S. treasury notes		45,224		56		—		45,280
Commercial paper		65,626		—		—		65,626
Corporate debt securities		71,231		83		—		71,314
Total short-term marketable securities		182,081		139		—		182,220
Long-term marketable securities:
U.S. treasury notes		15,248		59		—		15,307
Corporate debt securities		15,781		56		—		15,837
Total long-term marketable securities		31,029		115		—		31,144
Total cash equivalents and marketable securities	$	520,846	$	254	$	—	$	521,100

As of December 31, 2018, we had $395.8 million in money market funds and no marketable securities. There have been no significant realized gains or losses on available-for-sale securities for the periods presented. As of December 31, 2019, our short-term and long-term marketable securities have average contractual maturities of approximately eight months and 16 months, respectively.

Income Taxes - Components of Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Deferred tax assets:
Net operating loss carry-forwards	$ 94,335	$ 40,896
Amortization	5,196	4,424
Accruals and reserves	1,917	434
Stock-based compensation	1,820	268
Tax credits	18,443	3,728
Equity method investment	7,297
Other	210	23
Gross deferred tax assets	129,218	49,773
Less valuation allowance	(128,928)	(49,755)
Deferred tax assets, net of valuation allowance	290	18
Deferred tax liabilities:
Fixed assets	(290)	(18)
Deferred tax liabilities	$ (290)	$ (18)

Stock-Based Compensation - Summary of Estimated Grant Date Fair Value of Each Common Unit and Management Incentive Unit Awards (Details) - Management Incentive Units and Common Units - BBP LLC	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Expected term (in years)	1 year 6 months		1 year 6 months
Expected volatility			45.00%
Expected volatility, Minimum	48.00%	40.00%
Expected volatility, Maximum	49.00%	49.00%
Risk-free interest rate			1.70%
Risk-free interest rate, Minimum	2.34%	1.70%
Risk-free interest rate, Maximum	2.56%	2.56%
Minimum
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Expected term (in years)		9 months
Maximum
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Expected term (in years)		1 year 6 months

License Revenue

12 Months Ended

Dec. 31, 2019

Revenue From Contract With Customer [Abstract]

License Revenue

13.	License Revenue

Alexion License Agreements

In September 2019, Eidos and an affiliate of Alexion Pharmaceuticals, Inc. (“Alexion”) entered into an exclusive license agreement with Alexion to develop, manufacture and commercialize the compound known as AG10 and any of its various chemical forms and any pharmaceutical products containing AG10 in Japan. Under the agreement, Eidos received an upfront nonrefundable payment of $25.0 million.

Additionally, Eidos and Alexion entered into a stock purchase agreement (collectively with the exclusive license agreement, the “Alexion Agreements”), under which Eidos sold to Alexion 556,173 shares of the common stock of Eidos at a price per share of $44.95, for an aggregate purchase price of approximately $25.0 million. The excess of the purchase price over the value of the shares of Eidos’ common stock, determined based on the closing price of a share of the common stock of Eidos of $41.91 as reported on The Nasdaq Global Select Market as of the date of execution, was $1.7 million.

Eidos accounted for the exclusive license agreement under ASC 606 and identified the exclusive license as a distinct performance obligation since Alexion can benefit from the license on its own by developing and commercializing the underlying product using its own resources. In addition, Eidos will enter into clinical and commercial supply agreements for the licensed territory. Eidos determined that the optional right to future products under these supply agreements is not considered to represent a material right.

Eidos is also eligible to receive $30.0 million in regulatory milestone payments subject to the achievement of regulatory milestones. Eidos will also receive low double-digit royalty payments based on net sales of AG10 in Japan. The royalty rate is subject to reduction if Alexion is required to obtain intellectual property rights from third parties to develop, manufacture or commercialize AG10 in Japan, or upon the introduction of generic competition into market. Eidos is also in discussions with Alexion on a supply agreement that has not yet been finalized as of the period ending December 31, 2019.

Eidos accounted for the Alexion License Agreement under ASC 606 and identified the exclusive license as a distinct performance obligation since Alexion can benefit from the license on its own by developing and commercializing the underlying product using its own resources. In addition, Eidos will enter into clinical and commercial supply agreements for the licensed territory. Eidos recognized the $25.0 million upfront fee and $1.7 million premium paid for the Eidos’ stock for a total upfront payment of $26.7 million in license revenue upon the effective date of the Alexion License Agreement in September 2019. Eidos determined that the license was a right to use Eidos’ intellectual property and as of the effective date, Eidos had provided all necessary information to Alexion to benefit from the license and the license term had begun.

Eidos considers the future potential regulatory milestones of up to approximately $30.0 million and the sales-based royalties to be variable consideration. Eidos excluded the regulatory milestones from the transaction price because it determined such payments to be fully constrained under ASC 606 due to the inherent uncertainty in the achievement of such milestone payments and are highly susceptible to factors outside of Eidos’ control. As the sales-based royalties are all related to the license of the IP, Eidos will recognize revenue in the period when subsequent sales are made pursuant to the sales-based royalty exception under ASC 606-10-55-65. Eidos will re-evaluate the transaction price in each reporting period and as uncertain events are resolved or other changes in circumstances occur.

License and Exclusivity Agreements with Entities Affiliated with Perceptive Advisors LLC

In October 2019, our subsidiary, QED entered into an exclusive license agreement (the “License Agreement”) with a licensee entity in which Perceptive Life Sciences Master Fund, Ltd. (“Perceptive Master Fund”) and certain of its affiliated funds hold a majority of the outstanding voting securities. Perceptive Master Fund directly holds shares of our common stock representing a greater than 5% ownership interest. Perceptive Advisors LLC (“Perceptive Advisors,” and collectively with Perceptive Master Fund and its affiliated funds, “Perceptive”) serves as the investment manager to the Master Fund and may be deemed to beneficially own the securities directly held by Perceptive Master Fund. Mr. Joseph Edelman is the managing member of Perceptive Advisors and may be deemed to beneficially own the securities directly held by Perceptive Master Fund.

Pursuant to the License Agreement, QED granted to the licensee an exclusive, sublicensable license under the licensed patent rights and know-how to develop, manufacture and commercialize infigratinib for any and all human prophylactic and therapeutic uses in all cancer indications (including in combination with other therapies) in certain territories outside the United States. Under the License Agreement, QED received a nonrefundable upfront payment of $10.0 million and was granted certain equity rights in an affiliate of the licensee. Additionally, QED is entitled to receive payments from the licensee totaling an aggregate of up to $132.5 million upon the achievement of specified development and sales milestones and tiered royalties on net sales ranging from the low to mid teens.

In October 2019, our subsidiary, BBP LLC, concurrently entered into an exclusivity agreement with the above-mentioned licensee entity controlled by Perceptive, pursuant to which BBP LLC received equity in the entity representing a 10% ownership interest, valued at approximately $3.8 million at the time of the transaction. The equity interest was issued in consideration for certain rights of first negotiation and rights of first offer granted by BBP LLC to the entity with respect to specified transactions covering intellectual property rights owned or controlled by BBP LLC or its affiliates in certain territories outside the United States. Pursuant to the exclusivity agreement, BBP LLC also received warrant to purchase 10% of the then-fully diluted shares of one of the subsidiary of the above-mentioned licensee entity controlled by Perceptive upon achievement of certain contingent milestones.

We accounted for the license and exclusivity agreement as a single transaction under ASC 606 and identified the exclusive license as a distinct performance obligation since the third party can benefit from the license on its own by developing and commercializing the underlying product using its own resources. In addition, we will enter into clinical and commercial supply agreements for the licensed territory. The Company determined that the optional right to future products under these supply agreements is not considered to represent a material right.

During the year ended December 31, 2019, we recognized $13.8 million in license revenue comprising of $10.0 million in upfront payment received and the fair value of the ordinary shares received amounting to $3.8 million. We determined that the license was a right to use the intellectual property of QED and as of the effective date, we had provided all necessary information to the third party to benefit from the license and the license term. As of December 31, 2019, we also determined the contingent milestone related to our ability to exercise the warrant is not probable. As a result, we did not recognize any fair value of the warrant, which we considered to be immaterial, as revenue or record as an asset.

We consider the future potential development and sales milestones as well as the sales-based royalties to be variable consideration. We excluded the regulatory-based development and sales milestones from the transaction price because we determined such payments to be fully constrained under ASC 606 due to the inherent uncertainty in the achievement of such milestone payments and are highly susceptible to factors outside of our control. As the sales-based royalties are all related to the license of the IP, the Company will recognize revenue in the period when subsequent sales are made pursuant to the sales-based royalty exception under ASC 606-10-55-65. The Company will re-evaluate the transaction price in each reporting period and as uncertain events are resolved or other changes in circumstances occur.

Subsequent Events - Additional Information (Details) - Subsequent Event - Eidos - Market Sales Agreement $ in Millions	2 Months Ended
	Mar. 02, 2020 USD ($) shares
Subsequent Event [Line Items]
Issuance of common stock, net of underwriters discounts and issuance costs, shares \| shares	448,755
Net proceeds issued from offerings \| $	$ 23.8

Variable Interest Entities and Voting Interest Model

12 Months Ended

Dec. 31, 2019

Variable Interest Entities And Voting Interest Model [Abstract]

Variable Interest Entities and Voting Interest Model

6.	Variable Interest Entities and Voting Interest Model

The entities consolidated by BridgeBio are comprised of wholly-owned subsidiaries and partially-owned entities consolidated under the VOE model and VIEs for which BridgeBio is the primary beneficiary under the VIE model. The results of operations of the consolidated entities are included within the BridgeBio consolidated financial statements for the years ended December 31, 2019, 2018 and 2017.

Upon the Reorganization, BBP LLC became a wholly-owned subsidiary of the Corporation through the series of transactions described in Note 3. At that time, the consolidation assessment was updated on behalf of the Corporation with no changes in the BridgeBio group composition, other than the merger of BBP LLC and Merger Sub LLC as a result of the Reorganization described in Note 3.

As of December 31, 2019 and 2018, there were no significant restrictions on the VIE assets or liabilities except for the cash held by our VIEs presented below. For VIEs, BridgeBio calculates the maximum exposure to loss to be equal to the amount invested in the equity of the VIE and the amount of outstanding convertible notes.

Included within Note 2 is a list of partially-owned entities that were determined to be under BridgeBio’s control under the VIE model as of December 31, 2019 and December 31, 2018, with the exception of PellePharm as discussed in Note 8. At each reporting period, we reassess whether we have a majority voting interest for entities consolidated under the VOE model and whether we remain the primary beneficiary of the VIEs consolidated under the VIE model.

Eidos

Eidos is a clinical stage biopharmaceutical company focused on the development of BBP-265 to address the large and growing unmet need in diseases caused by transthyretin amyloidosis. In April 2016, we initially invested $1.0 million and determined that our investment in Eidos represented a variable interest. At that time, Eidos did not have sufficient resources to carry out its principal activities without additional financial support. BridgeBio was determined to be the primary beneficiary of Eidos as it controlled the activities that most significantly impacted Eidos’ economic performance, controlled the most significant decisions affecting Eidos through its representation within management and Eidos’ Board of Directors, and BridgeBio had a majority ownership interest.

In February 2018, BridgeBio entered into a note and warrant purchase agreement with Eidos, pursuant to which Eidos issued a convertible promissory note (the “Eidos Note”) with the principal amount of $10.0 million and a warrant to purchase a number of shares of preferred stock equal to $4.0 million at the price paid by investors in the next equity financing (the “Eidos Warrant”). In March 2018, BridgeBio transferred 10% or $1.0 million of its interests in the Eidos Note and the Eidos Warrant to the minority stockholder of Eidos. In March 2018, the Eidos Note was redeemed into shares of Series B redeemable convertible preferred stock of Eidos at a 30% discount to the price paid by other investors.

In March 2018, Eidos entered into the Eidos Series B Preferred Stock Purchase Agreement for issuance of shares of Eidos Series B redeemable convertible preferred stock in two closings. As part of the March 2018 closing, Eidos also issued a freestanding tranche liability related to the obligation of Eidos to issue additional shares and the right to request investors to purchase additional shares. The tranche liability was recorded at fair value and remeasured through the settlement date in May 2018. In May 2018, BridgeBio contributed $11.2 million into Eidos in exchange for shares of Series B redeemable convertible preferred stock.

In June 2018, Eidos completed its initial public offering. All redeemable convertible preferred stock of Eidos was converted into common stock at the closing of the Eidos IPO. As part of the Eidos IPO, BridgeBio purchased common stock of $17.0 million. The Eidos Warrant was also net exercised upon the completion of the Eidos IPO.

From the date of BridgeBio’s initial investment until June 22, 2018, the 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 it having sufficient equity at risk to finance its activities without additional subordinated financial support. From June 22, 2018 through December 31, 2019, 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 as of December 31, 2019 and 2018 and during the years then ended.

In May 2019, BridgeBio purchased 1,103,848 shares of Eidos common stock from an existing Eidos stockholder for $28.6 million in a private purchase transaction. In July 2019, BridgeBio purchased 882,353 shares of Eidos common stock from an existing Eidos investor for $26.4 million in a private purchase transaction. In September 2019, Eidos issued 556,173 shares of Eidos common stock to a third-party, which is futher described in Note 13.

On August 2, 2019, Eidos filed a 2019 Shelf with the SEC in relation to the registration of common stock, preferred stock, warrants and units of any combination thereof. Eidos also simultaneously entered into an Open Market Sale Agreement with the Sales Agent, to provide for the offering, issuance and sale by Eidos of up to an aggregate offering price of $100.0 million of its common stock from time to time in “at-the-market” offerings under the 2019 Shelf and subject to the limitations thereof. Eidos will pay to the Sales Agent cash commissions of up to 3.0 percent of the gross proceeds of sales of common stock under the 2019 Sales Agreement. Eidos has issued 385,613 shares under this offering and received $23.9 million of net proceeds as of December 31, 2019.

Consolidated VIEs

The entities identified as a “Controlled VIE” in Note 2 are VIEs for which BridgeBio was determined to be the primary beneficiary as of December 31, 2019 and 2018. For each entity, the initial investment was determined to represent a variable interest as, at that time, the entity did not have sufficient resources to carry out its principal activities without additional financial support. BridgeBio was determined to be the primary beneficiary of each entity as it controlled the activities that most significantly impact the entity’s economic performance and controlled the most significant decisions affecting the entity through its representation within management and the entity’s board of directors. BridgeBio also had a majority ownership interest in these entities as of December 31, 2019 and December 31, 2018.

ML Bio is a biopharmaceutical company focused on developing BBP-418, an orally administered ribitol replacement therapy, for the treatment of Limb Girdle Muscular Dystrophy type 2i. In July 2019, BridgeBio purchased shares of preferred stock of ML Bio for $7.0 million. Upon the initial investment, BridgeBio received a majority ownership interest in ML Bio and it was determined that ML Bio is a VIE and BridgeBio is the primary beneficiary. BridgeBio controlled the activities that most significantly impact ML Bio’s economic performance and, through its representation within management on ML Bio’s Board of Directors, also controlled the most significant decisions affecting ML Bio. BridgeBio has consolidated ML Bio under the VIE model since the initial investment date in July 2019 through December 31, 2019. Refer to Note 12 for additional details with respect to this transaction.

MoST is a biopharmaceutical company focused on developing BBP-561, a series of topical KLK5/7 inhibitors, for the treatment of Netherton Syndrome. BridgeBio made investments in MoST of $1.4 million, $1.2 million and $1.5 million in 2019, 2018 and 2017, respectively, in exchange for shares of redeemable convertible preferred stock.

Quartz is a biopharmaceutical company focused on the development of effective therapies for patients suffering from RAS-driven cancers. BridgeBio made investments in Quartz of $4.0 million in 2017 in exchange for shares of redeemable convertible preferred stock. Quartz issued convertible notes to BridgeBio in 2019 and 2018 totaling $0.4 million and $1.1 million, respectively, that are outstanding as of December 31, 2019.

Navire is a biopharmaceutical company advancing our BBP-398 discovery program for small molecule inhibitors of SHP2 for the potential treatment of cancers driven by hyperactive receptor tyrosine kinase, or MAPK signaling. BridgeBio made investments in Navire of $4.5 million, $6.8 million and $3.2 million in 2019, 2018 and 2017, respectively, in exchange for shares of redeemable convertible preferred stock.

CoA is a biopharmaceutical company focused on the development of BBP-671, an oral small molecule, for the treatment of Pantothenate Kinase Associated Neurodegeneration, or PKAN. BridgeBio made investments in CoA of $5.1 million $7.0 million and $1.5 million in 2019, 2018 and 2017, respectively, in exchange for shares of redeemable convertible preferred stock.

Dermecular is a biopharmaceutical company focused on the development of BBP-321, an oral S1P lyase inhibitor, for the treatment of Darier Disease and Hailey-Hailey Disease. BridgeBio made investments in Dermecular of $0.7 million and $4.5 million in 2018 and 2017, respectively, in exchange for shares of redeemable convertible preferred stock.

PTR is a biopharmaceutical company focused on developing BBP-589, an IV-administered recombinant collagen type VII, protein replacement therapy, for the treatment of recessive dystrophic epidermolysis bullosa. BridgeBio made investments in PTR of $7.0 million, $10.5 million and $3.0 million in 2019, 2018 and 2017, respectively, in exchange for shares of redeemable convertible preferred stock.

Adrenas is a biopharmaceutical company focused on developing BBP-631, an adeno-associated virus, gene transfer product candidate, for the treatment of congenital adrenal hyperplasia, caused by 21-hydroxylase deficiency. BridgeBio made investments in Adrenas of $21.6 million and $13.4 million in 2019 and 2018, respectively, in exchange for shares of redeemable convertible preferred stock.

QED is a biopharmaceutical company focused on developing infigratinib, an oral FGFR1-3 selective tyrosine kinase inhibitor, for the treatment of FGFR-driven cancers. BridgeBio made investments in QED of $100.0 million and $50.0 million in 2019 and 2018, respectively, in exchange for shares of redeemable convertible preferred stock.

Orfan is a biopharmaceutical company focused on developing BBP-711, a series of oral small molecule inhibitors of glycolate oxidase, for the treatment of primary hyperoxaluria and recurrent kidney stone disease. BridgeBio made investments in Orfan of $9.7 million and $3.0 million in 2019 and 2018, respectively, in exchange for shares of redeemable convertible preferred stock.

Ferro is a biopharmaceutical company focused on developing BBP-954 for irreversible inhibitors of glutathione peroxidase 4, for the treatment of solid and hematological cancers. BridgeBio made investments in Ferro of $7.0 million and $3.0 million in 2019 and 2018, respectively, in exchange for shares of redeemable convertible preferred stock.

Venthera is a biopharmaceutical company focused on developing BBP-681, a transdermal PI3K inhibitor, for the treatment of cutaneous venous and lymphatic malformations. BridgeBio made investments in Venthera of $4.5 million and $5.5 million in 2019 and 2018, respectively, in exchange for shares of redeemable convertible preferred stock.

Aspa is a biopharmaceutical company focused on developing BBP-812, an adeno-associated virus, gene transfer therapy, for the treatment of Canavan Disease. BridgeBio made investments in Aspa of $15.6 million and $8.0 million in 2019 and 2018, respectively, in exchange for shares of redeemable convertible preferred stock.

Origin is a biopharmaceutical company focused on developing BBP-870, an IV formulation of synthetic cyclic pyranopterin monophosphate for the treatment of molybdenum cofactor deficiency Type A. BridgeBio made investments in Origin of $24.0 million and $10.0 million in 2019 and 2018, respectively, in exchange for shares of redeemable convertible preferred stock.

Theras is a biopharmaceutical company focused on developing BBP-454, a preclinical development program for small molecule inhibitors of KRAS for the treatment of pan-mutant KRAS-driven cancers. BridgeBio made investments in Theras of $14.0 million and $5.0 million in 2019 and 2018, respectively, in exchange for shares of redeemable convertible preferred stock.

The following table provides the assets and liabilities for all consolidated VIEs as of December 31, 2019:

	Adrenas		Aspa		ML Bio		QED		Theras		All Other		Total
	(in thousands)
Assets:
Current assets:
Cash and cash equivalents	$	6,453	$	1,695	$	7,432	$	27,781	$	6,351	$	31,600	$	81,312
Prepaid expenses and other current assets		906		758		17		7,282		2,555		2,416		13,934
Total current assets		7,359		2,453		7,449		35,063		8,906		34,016		95,246
Property and equipment, net		3,189		274		98		281		3		325		4,170
Other assets		—		10,000		—		11,313		—		637		21,950
Total assets	$	10,548	$	12,727	$	7,547	$	46,657	$	8,909	$	34,978	$	121,366
Liabilities:
Current liabilities:
Accounts payable	$	526	$	219	$	19	$	1,443	$	23	$	1,341	$	3,571
Accrued compensation and benefits		923		156		67		3,396		243		3,352		8,137
Accrued research and development liabilities		757		567		—		8,931		212		5,293		15,760
Accrued professional services		83		280		7		435		4		363		1,172
Build-to-suit lease obligation		—		8,000		—		—		—		—		8,000
Other accrued liabilities		290		38		—		180		33		592		1,133
Total current liabilities		2,579		9,260		93		14,385		515		10,941		37,773
Other liabilities		951		—		—		161		—		24		1,136
Total liabilities	$	3,530	$	9,260	$	93	$	14,546	$	515	$	10,965	$	38,909

The following table provides the assets and liabilities for all consolidated VIEs as of December 31, 2018:

	Adrenas		Aspa		PTR		QED		Venthera		All Other		Total
	(in thousands)
Assets:
Current assets:
Cash and cash equivalents	$	3,046	$	4,259	$	6,934	$	8,630	$	2,913	$	6,713	$	32,495
Prepaid expenses and other current assets		665		1,722		28		3,240		—		321		5,976
Total current assets		3,711		5,981		6,962		11,870		2,913		7,034		38,471
Property and equipment, net		584		129		88		181		—		277		1,259
Other assets		7		—		41		—		—		28		76
Total assets	$	4,302	$	6,110	$	7,091	$	12,051	$	2,913	$	7,339	$	39,806
Liabilities:
Current liabilities:
Accounts payable	$	1,876	$	1,187	$	621	$	3,537	$	333	$	1,737	$	9,291
Accrued compensation and benefits		377		30		287		1,392		—		467		2,553
Accrued research and development liabilities		227		728		—		4,390		—		1,251		6,596
Other accrued liabilities		28		32		8		229		9		82		388
Total current liabilities		2,508		1,977		916		9,548		342		3,537		18,828
Other liabilities		—		—		—		150		—		29		179
Total liabilities	$	2,508	$	1,977	$	916	$	9,698	$	342	$	3,566	$	19,007

VIEs included in the “All Other” category of the above table are not significant individually for separate presentation as of the respective dates presented. Going forward, BridgeBio may not provide any further investment in certain of these VIEs.

Stock-Based Compensation - Summary of Restricted Stock Award Activity under Plans (Details) - 2019 Plan and 2019 Inducement Plan - Restricted Stock Awards	12 Months Ended
	Dec. 31, 2019 $ / shares shares
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Unvested Shares of Restricted Stock Outstanding, BBP LLC units converted into shares of unvested restricted stock of the Corporation \| shares	6,819,455
Unvested Shares of Restricted Stock Outstanding, Vested \| shares	(1,209,136)
Unvested Shares of Restricted Stock Outstanding, Cancelled \| shares	(6,867)
Unvested Shares of Restricted Stock Outstanding, Outstanding, Ending balance \| shares	5,603,452
Weighted-Average Grant Date Fair Value, BBP LLC units converted into shares of unvested restricted stock of the Corporation \| $ / shares	$ 3.38
Weighted-Average Grant Date Fair Value, Vested \| $ / shares	2.24
Weighted-Average Grant Date Fair Value, Cancelled \| $ / shares	7.27
Weighted-Average Grant Date Fair Value, Outstanding, Ending balance \| $ / shares	$ 3.63

Cash Equivalents and Marketable Securities - Additional Information (Details) - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2019
Cash And Cash Equivalents [Line Items]
Securities collateral by deposits percentage required by the accounting policy		102.00%
Securities collateral by deposits percentage maintained by a third-party custodian		102.00%
Money market funds	$ 395,800
Marketable securities	0
Realized gains or losses on available-for-sale securities	$ 0
Short-term marketable securities contractual maturities	8 months
Long-term marketable securities contractual maturities	16 months
U.S. Treasury Securities \| Maximum
Cash And Cash Equivalents [Line Items]
Received repurchase agreement		$ 0

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2019

Income Tax Disclosure [Abstract]

Components of Net Loss Before Income Taxes

The following table presents the components of net loss before income taxes:

	Year ended December 31,
	2019		2018		2017
	(in thousands)
Domestic	$	288,585	$	169,451	$	43,832
Foreign		—		—		—
Total loss before income taxes	$	288,585	$	169,451	$	43,832

Reconciliation of Statutory Federal Rate and Effective Tax Rate

The following table presents a reconciliation of the statutory federal rate and our effective tax rate:

	Year ended December 31,
	2019				2018				2017
Tax at statutory federal rate		21.0		%		21.0		%		34.0		%
State income taxes, net of federal benefit		—				—				—
Change in valuation allowance		(25.3	)			(20.2	)			(16.4	)
Research and development credits		4.1				1.6				0.8
Change in entity status		1.7				—				—
Nontaxable partnership income		(1.4	)			(1.2	)			(1.1	)
Other		(0.1	)			(1.2	)			(1.4	)
Impact of tax reform		—				—				(15.9	)
Effective income tax rate		—		%		—		%		—		%

Components of Deferred Tax Assets and Liabilities

Significant components of our deferred tax assets and liabilities as of December 31, 2019 and 2018 are as follows:

	2019			2018
	(in thousands)
Deferred tax assets:
Net operating loss carry-forwards	$	94,335		$	40,896
Amortization		5,196			4,424
Accruals and reserves		1,917			434
Stock-based compensation		1,820			268
Tax credits		18,443			3,728
Equity method investment		7,297			—
Other		210			23
Gross deferred tax assets		129,218			49,773
Less valuation allowance		(128,928	)		(49,755	)
Deferred tax assets, net of valuation allowance		290			18
Deferred tax liabilities:
Fixed assets		(290	)		(18	)
Deferred tax liabilities		(290	)		(18	)
Net deferred tax assets	$	—		$	—

Reconciliation of Unrecognized Tax Benefits

A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows:

	December 31,
	2019		2018
	(in thousands)
Balance at the beginning of the year	$	1,182	$	296
Additions (reductions) of prior year positions		2,913		(42	)
Additions based on tax positions related to current year		3,509		928
Balance at the end of the year	$	7,604	$	1,182

Noncontrolling Interests (Tables)

12 Months Ended

Dec. 31, 2019

Schedule of Noncontrolling Interests Balance

The following table provides a rollforward of the noncontrolling interests balance:

	Adrenas			Aspa			Eidos			PellePharm			PTR			Venthera			All Other			Total
	(in thousands)
Balance as of January 1, 2017	$	—		$	—		$	605		$	1,990		$	—		$	—		$	—		$	2,595
Issuance of noncontrolling interest		—			—			1,218			181			1			—			44			1,444
Transfers to (from) noncontrolling interest		—			—			2,157			2,272			2,242			—			2,298			8,969
Net loss attributable to noncontrolling interest		—			—			(3,214	)		(3,560	)		(2,016	)		—			(1,720	)		(10,510	)
Balance as of December 31, 2017		—			—			766			883			227			—			622			2,498
Issuance of noncontrolling interest		5			7			98,765			239			7			14			442			99,479
Net loss attributable to noncontrolling interest		(1,548	)		(416	)		(13,457	)		(4,541	)		(2,716	)		(612	)		(2,882	)		(26,172	)
Deconsolidation of PellePharm		—			—			—			688			—			—			—			688
Repurchase of redeemable noncontrolling interest		—			—			(44,234	)		—			—			—			—			(44,234	)
Transfers to (from) and conversion of noncontrolling interest:
Transfers to (from) noncontrolling interest		1,760			654			4,093			2,731			5,210			1,047			2,355			17,850
Conversion of redeemable convertible noncontrolling interest to noncontrolling interest		—			—			12,252			—			—			—			—			12,252
Balance as of December 31, 2018		217			245			58,185			—			2,728			449			537			62,361
Issuance (repurchase) of noncontrolling interest		15			17			(754	)		—			73			6			1,849			1,206
Transfers to (from) noncontrolling interest		2,324			1,342			16,004			—			2,245			777			4,140			26,832
Net loss attributable to noncontrolling interest		(1,860	)		(1,354	)		(13,713	)		—			(3,748	)		(1,092	)		(3,353	)		(25,120	)
Balance as of December 31, 2019	$	696		$	250		$	59,722		$	—		$	1,298		$	140		$	3,173		$	65,279

Redeemable Convertible Noncontrolling Interests

Schedule of Redeemable Convertible Noncontrolling Interests Balance

The following table provides a rollforward of the redeemable convertible noncontrolling interests balance:

	Orfan			QED			ML Bio			Eidos			PellePharm			Total
	(in thousands)
Balance as of January 1, 2017	$	—		$	—		$	—		$	6		$	1,514		$	1,520
Issuance of redeemable convertible noncontrolling interest		—			—			—			—			2,839			2,839
Net loss attributable to redeemable convertible noncontrolling interest		—			—			—			(27	)		(2,730	)		(2,757	)
Transfers to (from) redeemable convertible noncontrolling interest		—			—			—			26			(795	)		(769	)
Balance as of December 31, 2017		—			—			—			5			828			833
Issuance of redeemable convertible noncontrolling interest		187			1,735			—			51,012			9,429			62,363
Net loss attributable to redeemable convertible noncontrolling interest		(263	)		(4,675	)		—			(1,411	)		(6,181	)		(12,530	)
Deconsolidation of PellePharm		—			—			—			—			1,154			1,154
Transfers to (from) and conversion of noncontrolling interest:
Transfers to (from) redeemable convertible noncontrolling interest		84			3,054			—			(37,354	)		(5,230	)		(39,446	)
Conversion of redeemable convertible noncontrolling interest to noncontrolling interest		—			—			—			(12,252	)		—			(12,252	)
Balance as of December 31, 2018		8			114			—			—			—			122
Issuance of redeemable convertible noncontrolling interest		—			—			3,196			—			—			3,196
Net loss attributable to redeemable convertible noncontrolling interest		(120	)		(2,168	)		(590	)		—			—			(2,878	)
Transfers to (from) redeemable convertible noncontrolling interest		186			2,666			(1,049	)		—			—			1,803
Balance as of December 31, 2019	$	74		$	612		$	1,557		$	—		$	—		$	2,243

Stock-Based Compensation - Summary of Fair Value of Employee and Non-employee Eidos Stock Options Granted (Details) - Eidos	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Employee
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Expected term (in years)	6 years 26 days	6 years 29 days	5 years 9 months 29 days
Expected volatility	72.40%	72.00%	68.40%
Risk-free interest rate	1.95%	2.87%	2.27%
Non-Employee
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Expected term (in years)	6 years 1 month 2 days	9 years 2 months 12 days	9 years 7 months 28 days
Expected volatility	73.70%	73.90%	80.10%
Risk-free interest rate	2.49%	2.66%	2.41%

Organization and Description of Business - Additional Information (Details) - USD ($) $ / shares in Units, $ in Thousands		12 Months Ended
	Jul. 01, 2019	Dec. 31, 2019	Dec. 31, 2018
Organization And Description Of Business [Line Items]
Entity incorporation, state		DE
Entity date of incorporation		May 17, 2019
Net proceeds from IPO, after deducting underwriters’ discounts and commissions		$ 366,237	$ 95,536
Common Stock
Organization And Description Of Business [Line Items]
Net proceeds from IPO, after deducting underwriters’ discounts and commissions	$ 366,200
Underwriters' discounts and commissions	28,100
Deferred offering costs	$ 6,500
Initial Public Offering \| Common Stock
Organization And Description Of Business [Line Items]
Sale of stock, number of shares issued and sold	23,575,000
Sale of stock, public offering price per share	$ 17.00
Over-Allotment Option \| Common Stock
Organization And Description Of Business [Line Items]
Sale of stock, number of shares issued and sold	3,075,000

Document and Entity Information - USD ($)	12 Months Ended
Document and Entity Information - USD ($)	Dec. 31, 2019	Feb. 24, 2020	Jun. 28, 2019
Cover [Abstract]
Document Type	10-K
Amendment Flag	false
Document Period End Date	Dec. 31, 2019
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	FY
Trading Symbol	BBIO
Entity Registrant Name	BridgeBio Pharma, Inc.
Entity Central Index Key	0001743881
Current Fiscal Year End Date	--12-31
Entity Filer Category	Non-accelerated Filer
Entity Current Reporting Status	Yes
Entity Small Business	false
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
Entity Shell Company	false
Entity File Number	001-38959
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	84-1850815
Entity Address, Address Line One	421 Kipling Street
Entity Address, City or Town	Palo Alto
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	94301
City Area Code	(650)
Local Phone Number	391-9740
Entity Common Stock, Shares Outstanding		123,765,465
Document Annual Report	true
Document Transition Report	false
Entity Interactive Data Current	Yes
Title of 12(b) Security	Common Stock, par value $0.001 per share
Security Exchange Name	NASDAQ
Entity Well-known Seasoned Issuer	No
Entity Public Float			$ 0
Entity Voluntary Filers	No
Documents Incorporated by Reference	Specified portions of the registrant’s definitive Proxy Statement to be issued in conjunction with the registrant’s 2020 Annual Meeting of Stockholders, which is expected to be filed not later than 120 days after the registrant’s fiscal year ended December 31, 2019, are incorporated by reference into Part III of this Annual Report. Except as expressly incorporated by reference, the registrant’s Proxy Statement shall not be deemed to be a part of this Annual Report on Form 10‑K.

Fair Value Measurement (Tables)

12 Months Ended

Dec. 31, 2019

Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]

Financial Assets and Liabilities Measured at Fair Value on Recurring Basis

The following table presents information about our financial assets and liabilities that are measured at fair value on a recurring basis and indicates the fair value hierarchy of the valuation:

	December 31, 2019
	Total		Level 1		Level 2		Level 3
	(in thousands)
Assets
Cash equivalents:
Money market funds	$	248,736	$	248,736	$	—	$	—
Repurchase agreements		59,000		59,000		—		—
Total cash equivalents		307,736		307,736		—		—
Short-term marketable securities:
U.S. treasury notes		45,280		—		45,280		—
Commercial paper		65,626		—		65,626		—
Corporate debt securities		71,314		—		71,314		—
Total short-term marketable securities		182,220		—		182,220		—
Long-term marketable securities:
U.S. treasury notes		15,307		—		15,307		—
Corporate debt securities		15,837		—		15,837		—
Total long-term marketable securities		31,144		—		31,144		—
Total cash equivalents and marketable securities	$	521,100	$	307,736	$	213,364	$	—
Liabilities:
LEO call option liability	$	4,078	$	—	$	—		4,078
Embedded derivative		1,165		—		—		1,165
Total financial liabilities	$	5,243	$	—	$	—	$	5,243

	December 31, 2018
	Total		Level 1		Level 2		Level 3
	(in thousands)
Assets:
Money market funds	$	395,780	$	395,780	$	—	$	—
Liabilities:
LEO call option liability	$	3,009	$	—	$	—	$	3,009

LEO Call Option

Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]

Schedule of Estimated Fair Value of Liability

We estimated the fair value of the LEO Call Option by estimating the fair value of various clinical, regulatory, and sales milestones based on the estimated risk and probability of achievement of each milestone, and allocated the value using a Black-Scholes option pricing model with the following assumptions:

	December 31,
	2019		2018
Probability of milestone achievement	12.0%-84.0%		12.0%-84.0%
Discount rate	1.6%-13.1%		2.7%-11.0%
Expected term (in years)	0.67-5.25		0.58-4.38
Expected volatility	60.0%-68.0%		67.0%-79.0%
Risk-free interest rate	2.34%-2.46%		2.51%-2.78%
Dividend yield		—		—

Summary of Changes in Estimated Fair Value of Liability

The following table sets forth a summary of the changes in the estimated fair value of the LEO Call Option:

	Total
	(in thousands)
Balance as of January 1, 2018	$	—
Initial fair value upon execution of the LEO Agreement in November 2018		1,879
Change in fair value upon remeasurement recognized in other income (expense), net		1,130
Balance as of December 31, 2018		3,009
Change in fair value upon remeasurement recognized in other income (expense), net		1,069
Balance as of December 31, 2019	$	4,078

Asset Acquisitions

12 Months Ended

Dec. 31, 2019

Business Combinations [Abstract]

Asset Acquisitions

12.	Asset Acquisitions

ML Bio Asset Acquisition

As described in Note 6, as of July 2019, ML Bio was a variable interest entity. Based on the qualitative assessment performed under ASC 805 Business Combinations, we concluded that ML Bio was not considered to be a business and accounted for the initial July 2019 investment in ML Bio as an asset acquisition. The assets acquired, liabilities and noncontrolling interest assumed in the transaction were measured based on their fair values. We recognized a loss of $0.4 million in other income (expense), net. The loss was calculated as the sum of consideration paid of $7.0 million and fair value of noncontrolling interest issued of $4.0 million, less fair value of identifiable net assets acquired of $10.6 million.

The fair value of the IPR&D acquired of $1.0 million was charged to research and development expense as it had no alternative future use at the time of the acquisition. BridgeBio may be required to purchase additional shares of preferred stock of up to $24.5 million upon achievement of certain development milestones by ML Bio. The assembled workforce acquired of $0.2 million was amortized during the year ended December 31, 2019.

Retinagenix Asset Acquisition

In June 2019, Retinagenix, Inc. (“Retinagenix”) entered into a Unit Purchase and Sale Agreement with the owners of a biopharmaceutical entity to acquire 100% of the outstanding equity of the entity. Retinagenix accounted for the transaction as an asset acquisition as substantially all of the estimated fair value of the gross assets acquired were concentrated in a group of similar identified assets, IPR&D. The assets acquired and liabilities assumed in the transaction were measured based on their fair values.

The fair value of the IPR&D acquired was $0.5 million and was charged to research and development expense as it had no alternative future use at the time of the acquisition. If certain substantive milestones are met in the future, Retinagenix could be required to pay up to $7.0 million in regulatory milestone payments, $65.0 million in sales milestone payments, and pay royalties of up to low single-digit percentages on future net sales. Royalties may increase to up to mid-single-digit percentages in certain circumstances.

Origin Biosciences, Inc. (“Origin”) Asset Acquisition

In June 2018, Origin entered into an Asset Purchase Agreement with Alexion Pharma Holding Unlimited Company (“Alexion”) to acquire intellectually property rights, including patent rights, know-how, and contracts, related to the ALXN1101 molecule. As consideration, Origin made an upfront cash payment of $1.0 million. There were no material direct transaction costs related to the transaction.

Origin accounted for the transaction as an asset acquisition as substantially all of the estimated fair value of the gross assets acquired was concentrated in a single identified asset, IPR&D, thus satisfying the requirements of the screen test in ASU 2017-01. The assets acquired and liabilities assumed in the transaction were measured based on their fair values. The fair value of the IPR&D acquired was $1.0 million and was charged to research and development expense as it had no alternative future use at the time of the acquisition. If certain substantive milestones are met in the future, Origin could be required to pay up to $18.8 million if Origin receives a priority review voucher from the Food and Drug Administration, $3.0 million in regulatory milestone payments, $17.0 million in sales milestone payments, and pay royalties of up to low double-digit percentages on future net sales, if any.

QED Therapeutics, Inc. (“QED”) Asset Acquisition

In January 2018, QED entered into a License Agreement with Novartis International Pharmaceutical, Inc. (“Novartis”), pursuant to which QED acquired certain intellectual property rights, including patents and know-how, related to BBP-831 for the treatment of patients with FGFR-driven diseases. As consideration for the License Agreement, QED made an upfront cash payment of $15.0 million and issued 2,941,176 shares of QED Series A Preferred Stock to Novartis. There were no material direct transaction costs related to the transaction. The fair value of the QED Series A Preferred Stock was valued by a third-party specialist at $0.59 per share or a total fair value of shares issued of $1.7 million.

QED accounted for the transaction as an asset acquisition as substantially all of the estimated fair value of the gross assets acquired was concentrated in a single identified asset, IPR&D, thus satisfying the requirements of the screen test in ASU 2017-01. The assets acquired and liabilities assumed in the transaction were measured based on their fair values. The fair value of the IPR&D acquired was $16.7 million and was charged to research and development expense as it had no alternative future use at the time of the acquisition. If certain substantive milestones are met in the future, QED could be required to pay up to $60.0 million in regulatory milestone payments, $35.0 million in sales milestone payments, and pay royalties of up to low double-digit percentages on future net sales, if any.

Phoenix Tissue Repair, Inc. Asset Acquisition

In July 2017, PTR entered into the Contribution Agreement and Asset Purchase Agreement with Shire Human Genetic Therapies, Inc. and its subsidiary Lotus Tissue Repair, Inc. to acquire the right, title, and interest in certain intellectual property, research program assets, and contracts relating to recombinant human collagen type VII. As consideration, in 2017, PTR made an upfront cash payment of $1.5 million and issued 10,019,900 shares of PTR common stock valued at a nominal fair value at issuance. There were no material direct transaction costs related to the transaction.

PTR accounted for the transaction as an asset acquisition as substantially all of the estimated fair value of the gross assets acquired was concentrated in a single identified asset, IPR&D, thus satisfying the requirements of the screen test in ASU 2017-01. The assets acquired and liabilities assumed in the transaction were measured based on their fair values. The fair value of the IPR&D acquired was $1.5 million and was charged to research and development expense as it had no alternative future use at the time of the acquisition. If certain substantive milestones are met in the future, PTR could be required to pay up to $27.0 million in regulatory milestone payments, $60.0 million in sales milestone payments, and pay royalties of up to low single-digit percentages on future net sales, if any.

During the year ended December 31, 2019, PTR made a milestone payment of $2.0 million in connection with this agreement related to the Phase I initiation milestone being met. This amount was charged to research and development expense as the underlying in-process research and development asset has no alternative future use.

Stock-Based Compensation - Schedule of Assumptions Used to Determine Fair Value of Stock Options and Stock Purchase Rights under ESPP (Details)	12 Months Ended
	Dec. 31, 2019 $ / shares
Employee Stock Options
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Expected volatility	37.40%
Risk-free interest rate	1.84%
Weighted-average fair value of stock-based awards granted	$ 7.81
Minimum \| Employee Stock Options
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Expected term (in years)	5 years
Maximum \| Employee Stock Options
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Expected term (in years)	6 years 29 days
2019 Employee Stock Purchase Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Expected term (in years)	4 months 24 days
Expected volatility	43.40%
Risk-free interest rate	2.12%
Weighted-average fair value of stock-based awards granted	$ 5.51

Consolidated Balance Sheets (Parenthetical) - $ / shares	Dec. 31, 2019	Dec. 31, 2018
Statement Of Financial Position [Abstract]
Preferred stock, par value	$ 0.001	$ 0.001
Preferred stock, shares authorized	25,000,000	0
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value	$ 0.001	$ 0.001
Common stock, shares authorized	500,000,000	97,412,870
Common stock, shares issued	123,658,287	92,057,704
Common stock, shares outstanding	123,658,287	92,057,704

Condensed Consolidated Statements of Redeemable Convertible Noncontrolling Interests and Stockholders' Equity (Parenthetical) - Common Stock - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Conversion of promissory note share issued, price per share			$ 4.25
2.22 Per Share
Stock issuance costs			$ 0
Shares issued, price per share			$ 2.22
4.21 Per Share
Stock issuance costs			$ 818
Shares issued, price per share			$ 4.21
4.29 Per Share
Stock issuance costs		$ 0
Shares issued, price per share		$ 4.29
9.82 Per Share
Stock issuance costs		$ 541
Shares issued, price per share		$ 9.82
Initial Public Offering
Underwriter discounts and stock issuance costs	$ 34,538
Shares issued, price per share	$ 17.00

Stock-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2019

Share Based Compensation Arrangement By Share Based Payment Award [Line Items]

Summary of Stock Based Compensation for Employees and Non Employees

Under each of the legal entity’s equity plans, we recorded stock-based compensation in the following expense categories in our consolidated statements of operations for employees and non-employees:

	Year Ended December 31, 2019
	BridgeBio Equity Plan		Eidos Equity Plan		Other Subsidiaries Equity Plan		Total
	(in thousands)
Research and development	$	986	$	2,313	$	366	$	3,665
General and administrative		14,204		3,060		445		17,709
Total stock-based compensation	$	15,190	$	5,373	$	811	$	21,374

	Year Ended December 31, 2018
	BridgeBio Equity Plan		Eidos Equity Plan		Other Subsidiaries Equity Plan		Total
	(in thousands)
Research and development	$	—	$	1,325	$	186	$	1,511
General and administrative		3,183		1,201		172		4,556
Total stock-based compensation	$	3,183	$	2,526	$	358	$	6,067

	Year Ended December 31, 2017
	BridgeBio Equity Plan		Eidos Equity Plan		Other Subsidiaries Equity Plan		Total
	(in thousands)
Research and development	$	—	$	519	$	7	$	526
General and administrative		541		629		145		1,315
Total stock-based compensation	$	541	$	1,148	$	152	$	1,841

Summary of Stock Option Activity

The following table summarizes the Corporation’s stock option activity under the Plans for the period through December 31, 2019:

	Options Outstanding			Weighted- Average Exercise Price per Option		Weighted- Average Remaining Contractual Life (years)		Aggregate Intrinsic Value
	(in thousands, except share and per share amounts)
Outstanding as of December 31, 2018		—		$	—		—	$	—
Granted		4,651,091		$	20.09
Exercised		(949	)	$	17.00
Cancelled		(23,365	)	$	17.00
Outstanding as of December 31, 2019		4,626,777		$	20.10		9.6	$	70,348
Exercisable as of December 31, 2019		514,472		$	17.89		9.5	$	8,830

Summary of Restricted Stock Award Activity

The following table summarizes our RSA activity under the Plans for the period through December 31, 2019

	Unvested Shares of Restricted Stock Outstanding			Weighted- Average Grant Date Fair Value
Balance at December 31, 2018		—			—
BBP LLC units converted into shares of unvested restricted stock of the Corporation		6,819,455		$	3.38
Vested		(1,209,136	)	$	2.24
Cancelled		(6,867	)	$	7.27
Balance at December 31, 2019		5,603,452		$	3.63

Summary of Estimated Grant Date Fair Value of Each Equity Based Awards

The estimated grant-date fair value of each Common Unit and Management Incentive Unit award was calculated using the Black-Scholes option pricing model, based on assumptions as follows:

	Year Ended December 31,
	2019		2018		2017
Expected term (in years)	1.50		0.75-1.50		1.50
Expected volatility	48.0%-49.0%		40.0%-49.0%		45.0%
Risk-free interest rate	2.34%-2.56%		1.70%-2.56%		1.70%
Dividend yield		—		—		—

BBP LLC

Share Based Compensation Arrangement By Share Based Payment Award [Line Items]

Summary of Authorized Equity-Based Awards Activity

	Equivalent Shares of the Corporation's Restricted Common Stock
Balance as of January 1, 2017		5,850,264
Granted		4,073,919
Cancelled		(479,114	)
Balance as of December 31, 2017		9,445,069
Granted		550,677
Cancelled		(1,263	)
Balance as of December 31, 2018		9,994,483
Authorized and granted		2,587,939
Cancelled		(842	)
Converted into common stock of the Corporation		(5,762,125	)
Converted into unvested restricted common stock of the Corporation		(6,819,455	)
Balance as of December 31, 2019		—

Summary of Vested Equity-Based Awards Activity

	Equivalent Shares of the Corporation's Restricted Common Stock			Weighted- Average Grant Date Fair Value
Balance at January 1, 2017		1,495,037		$	0.31
Vested		1,316,657		$	0.36
Balance at December 31, 2017		2,811,694		$	0.34
Vested		1,827,623		$	0.62
Balance at December 31, 2018		4,639,317		$	0.45
Vested		1,122,808		$	2.10
Converted into common stock of the Corporation		(5,762,125	)	$	0.72
Balance at December 31, 2019		—		$	—

Eidos

Share Based Compensation Arrangement By Share Based Payment Award [Line Items]

Summary of Stock Option Activity

Activity under the Eidos equity incentive plans is set forth below:

							Weighted-		Weighted-
							Average		Average
	Options						Exercise		Remaining		Aggregate
	Available for			Options			Price per		Contractual		Intrinsic
	Grant			Outstanding			Option		Life (years)		Value
	(in thousands, except per share and per share data)
Outstanding as of December 31, 2018		747,057			1,329,762		$	8.55		9.40	$	6,928
Additional authorized		1,500,000			—		$	—
Options granted		(365,573	)		365,573		$	34.51
Options exercised		—			(306,010	)	$	3.30
Options cancelled		53,570			(53,570	)	$	7.24
Outstanding—December 31, 2019		1,935,054			1,335,755		$	16.91		8.77	$	54,071
Options exercisable—December 31, 2019					241,289		$	11.16		8.50	$	11,155
Options vested and expected to vest—December 31, 2019					1,335,755		$	16.91		8.77	$	54,071

Eidos | Employee Stock Options Valuation

Share Based Compensation Arrangement By Share Based Payment Award [Line Items]

Schedule of Assumptions Used to Determine Fair Value of Stock Option Granted

The fair value of employee and non-employee director of Eidos stock option awards was estimated at the date of grant using a Black-Scholes option-pricing model with the following assumptions:

	Year Ended						Year Ended						Year Ended
	December 31, 2019						December 31, 2018						December 31, 2017
	Employee			Non- employee			Employee			Non- employee			Employee			Non- employee
Expected term (in years)		6.07			6.09			6.08			9.20			5.83			9.66
Expected volatility		72.4	%		73.7	%		72.0	%		73.9	%		68.4	%		80.1	%
Risk-free interest rate		1.95	%		2.49	%		2.87	%		2.66	%		2.27	%		2.41	%
Dividend yield	—			—			—			—			—			—

2019 Plan and 2019 Inducement Plan

Share Based Compensation Arrangement By Share Based Payment Award [Line Items]

Summary of Authorized Equity-Based Awards Activity

The following table summarizes our authorized shares activity under the 2019 Plan and the 2019 Inducement Plans (the “Plans”):

	2019 Plan			2019 Inducement Plan
Balance as of December 31, 2018		—			—
Authorized		11,500,000			1,000,000
Granted — Stock options		(4,397,117	)		(253,974	)
Granted — Restricted stock units		(181,274	)		(180,889	)
Granted — Restricted stock awards		(6,819,455	)		—
Granted — Common stock		(2,682	)		(22,839	)
Granted — Market-based restricted stock units		(76,637	)		(53,234	)
Cancelled — Stock options		23,365			—
Cancelled — Restricted stock		6,867			—
Balance as of December 31, 2019		53,067			489,064

2019 Employee Stock Purchase Plan

Share Based Compensation Arrangement By Share Based Payment Award [Line Items]

Schedule of Assumptions Used to Determine Fair Value of Stock Option Granted

	Stock Options			ESPP
Expected term (in years)	5.00-6.08				0.40
Expected volatility		37.4	%		43.4	%
Risk-free interest rate		1.84	%		2.12	%
Dividend yield		—			—
Weighted-average fair value of stock-based awards granted	$	7.81		$	5.51

2018 Employee Stock Purchase Plan

Share Based Compensation Arrangement By Share Based Payment Award [Line Items]

Schedule of Assumptions Used to Determine Fair Value of Stock Option Granted

The fair value of the rights granted under the Eidos 2018 ESPP was calculated using the Black-Scholes option-pricing model with the following assumptions:

	Year Ended December 31,			Year Ended December 31,
	2019			2018
Expected term in years	0.50			0.48
Expected volatility		63.06	%		70.40	%
Risk-free interest rate		2.32	%		1.50	%
Dividend yield		0	%		0	%

Income Taxes

12 Months Ended

Dec. 31, 2019

Income Tax Disclosure [Abstract]

Income Taxes

17.	Income Taxes

BridgeBio is subject to U.S. federal and state income taxes as a corporation. Prior to the tax-free reorganization, BBP LLC was treated as a pass‑through entity for U.S. federal income tax purposes, and as such, was generally not subject to U.S. federal income tax at the entity level. Rather, the tax liability with respect to its taxable income was passed through to its unitholders.

The following table presents the components of net loss before income taxes:

	Year ended December 31,
	2019		2018		2017
	(in thousands)
Domestic	$	288,585	$	169,451	$	43,832
Foreign		—		—		—
Total loss before income taxes	$	288,585	$	169,451	$	43,832

There was no income tax expense (domestic and foreign) for the years ended December 31, 2019, 2018 and 2017.

The following table presents a reconciliation of the statutory federal rate and our effective tax rate:

	Year ended December 31,
	2019				2018				2017
Tax at statutory federal rate		21.0		%		21.0		%		34.0		%
State income taxes, net of federal benefit		—				—				—
Change in valuation allowance		(25.3	)			(20.2	)			(16.4	)
Research and development credits		4.1				1.6				0.8
Change in entity status		1.7				—				—
Nontaxable partnership income		(1.4	)			(1.2	)			(1.1	)
Other		(0.1	)			(1.2	)			(1.4	)
Impact of tax reform		—				—				(15.9	)
Effective income tax rate		—		%		—		%		—		%

Significant components of our deferred tax assets and liabilities as of December 31, 2019 and 2018 are as follows:

	2019			2018
	(in thousands)
Deferred tax assets:
Net operating loss carry-forwards	$	94,335		$	40,896
Amortization		5,196			4,424
Accruals and reserves		1,917			434
Stock-based compensation		1,820			268
Tax credits		18,443			3,728
Equity method investment		7,297			—
Other		210			23
Gross deferred tax assets		129,218			49,773
Less valuation allowance		(128,928	)		(49,755	)
Deferred tax assets, net of valuation allowance		290			18
Deferred tax liabilities:
Fixed assets		(290	)		(18	)
Deferred tax liabilities		(290	)		(18	)
Net deferred tax assets	$	—		$	—

As of December 31, 2019, we have net operating loss carryforwards available to reduce future taxable income, if any, for federal and California state income tax purposes of approximately $393.4 million and $160.0 million respectively. The federal net operating losses generated prior to 2018 will begin to expire in 2037, losses generated after 2018 will carryover indefinitely. State net operating losses will generally begin to expire in 2037.

As of December 31, 2019, we have federal research and development credit carryforwards of $17.6 million, which will expire beginning in 2037 if not utilized. As of December 31, 2019, we have state research and development tax credit carryforwards of $2.6 million. The state research and development tax credits will expire at various dates.

A valuation allowance is provided for deferred tax assets where the recoverability of the assets is uncertain. The determination to provide a valuation allowance is dependent upon the assessment of whether it is more likely than not that sufficient future taxable income will be generated to utilize the deferred tax assets. Based on the weight of the available evidence, which includes our historical operating losses and forecast of future losses, we provided a full valuation allowance against the deferred tax assets resulting from the tax loss and credits carried forward. The valuation allowance increased by $79.2 million for the year ended December 31, 2019.

Utilization of the net operating loss and credit carryforwards may be subject to a substantial annual limitation due to an ownership change limitation as provided by section 382 of the Internal Revenue Code of 1986, as amended, and similar state provisions. The annual limitation may result in the expiration of net operating losses and credits before utilization. In the event that we had a change of ownership, utilization of the net operating loss and tax credit carryforwards may be restricted.

A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows:

	December 31,
	2019		2018
	(in thousands)
Balance at the beginning of the year	$	1,182	$	296
Additions (reductions) of prior year positions		2,913		(42	)
Additions based on tax positions related to current year		3,509		928
Balance at the end of the year	$	7,604	$	1,182

As of December 31, 2019, we have not recorded interest and penalties associated with our unrecognized tax benefits. Our policy is to recognize interest and penalties related to income tax matters in income tax expense.

Our unrecognized gross tax benefits would not reduce the annual effective tax rate if recognized because we have recorded a full valuation allowance on our deferred tax assets. We do not foresee any material changes to the gross unrecognized tax benefit within the next twelve months.

We file federal and various income tax returns. We currently have no federal or state tax examinations in progress. All years are open for examination by federal and state authorities.

In December 2017, the United States government enacted comprehensive tax legislation commonly referred to as the Tax Cuts and Jobs Act (the “Tax Act”) and the new legislation contains several key provisions, including a reduction of the federal corporate income tax rate to 21% effective January 1, 2018. We are required to recognize the effect of the tax law changes in the period of enactment, such as remeasuring our United States deferred tax assets and liabilities as well as our valuation allowance against our net United States deferred tax assets. In December 2017, the U.S. Securities and Exchange Commission staff issued Staff Accounting Bulletin No. 118 (“SAB 118”), which allowed us to record provisional amounts during a measurement period not to extend beyond one year of the enactment date. During the fourth quarter of 2018, we completed our accounting for the Tax Act as summarized below.

Due to the change in the statutory tax rate from the Tax Act, we remeasured our federal deferred tax assets as of December 31, 2017 to reflect the reduced rate that will apply in future periods when these deferred taxes are settled or realized. The result was a decrease of $6.8 million to deferred tax assets. No adjustments were made to the provisional estimates recorded.

We determined the one-time transition tax would not be applicable given our facts and circumstances. The one-time transition tax would be based on total post-1986 foreign earnings and profits that were previously deferred from United States income tax. The applicable tax rate is based on the amount of those post-1986 earnings that is held in cash and other specified assets (the “cash position”). We did not have any foreign earnings and profits and thus we would not have any transition tax liability. Our position has not materially changed.

Variable Interest Entities and Voting Interest Model (Tables)

12 Months Ended

Dec. 31, 2019

Variable Interest Entities And Voting Interest Model [Abstract]

Summary of Assets and Liabilities for Consolidated VIEs

The following table provides the assets and liabilities for all consolidated VIEs as of December 31, 2019:

	Adrenas		Aspa		ML Bio		QED		Theras		All Other		Total
	(in thousands)
Assets:
Current assets:
Cash and cash equivalents	$	6,453	$	1,695	$	7,432	$	27,781	$	6,351	$	31,600	$	81,312
Prepaid expenses and other current assets		906		758		17		7,282		2,555		2,416		13,934
Total current assets		7,359		2,453		7,449		35,063		8,906		34,016		95,246
Property and equipment, net		3,189		274		98		281		3		325		4,170
Other assets		—		10,000		—		11,313		—		637		21,950
Total assets	$	10,548	$	12,727	$	7,547	$	46,657	$	8,909	$	34,978	$	121,366
Liabilities:
Current liabilities:
Accounts payable	$	526	$	219	$	19	$	1,443	$	23	$	1,341	$	3,571
Accrued compensation and benefits		923		156		67		3,396		243		3,352		8,137
Accrued research and development liabilities		757		567		—		8,931		212		5,293		15,760
Accrued professional services		83		280		7		435		4		363		1,172
Build-to-suit lease obligation		—		8,000		—		—		—		—		8,000
Other accrued liabilities		290		38		—		180		33		592		1,133
Total current liabilities		2,579		9,260		93		14,385		515		10,941		37,773
Other liabilities		951		—		—		161		—		24		1,136
Total liabilities	$	3,530	$	9,260	$	93	$	14,546	$	515	$	10,965	$	38,909

The following table provides the assets and liabilities for all consolidated VIEs as of December 31, 2018:

	Adrenas		Aspa		PTR		QED		Venthera		All Other		Total
	(in thousands)
Assets:
Current assets:
Cash and cash equivalents	$	3,046	$	4,259	$	6,934	$	8,630	$	2,913	$	6,713	$	32,495
Prepaid expenses and other current assets		665		1,722		28		3,240		—		321		5,976
Total current assets		3,711		5,981		6,962		11,870		2,913		7,034		38,471
Property and equipment, net		584		129		88		181		—		277		1,259
Other assets		7		—		41		—		—		28		76
Total assets	$	4,302	$	6,110	$	7,091	$	12,051	$	2,913	$	7,339	$	39,806
Liabilities:
Current liabilities:
Accounts payable	$	1,876	$	1,187	$	621	$	3,537	$	333	$	1,737	$	9,291
Accrued compensation and benefits		377		30		287		1,392		—		467		2,553
Accrued research and development liabilities		227		728		—		4,390		—		1,251		6,596
Other accrued liabilities		28		32		8		229		9		82		388
Total current liabilities		2,508		1,977		916		9,548		342		3,537		18,828
Other liabilities		—		—		—		150		—		29		179
Total liabilities	$	2,508	$	1,977	$	916	$	9,698	$	342	$	3,566	$	19,007

- Definition

Tabular disclosure of the significant judgments and assumptions made in determining whether a variable interest (as defined) held by the entity requires the variable interest entity (VIE) (as defined) to be consolidated and (or) disclose information about its involvement with the VIE, individually or in aggregate (as applicable); the nature of restrictions, if any, on the consolidated VIE's assets and on the settlement of its liabilities reported by an entity in its statement of financial position, including the carrying amounts of such assets and liabilities; the nature of, and changes in, the risks associated with involvement in the VIE; how involvement with the VIE affects the entity's financial position, financial performance, and cash flows; the lack of recourse if creditors (or beneficial interest holders) of the consolidated VIE have no recourse to the general credit of the primary beneficiary (if applicable); the terms of arrangements, giving consideration to both explicit arrangements and implicit variable interests, if any, that could require the entity to provide financial support to the VIE, including events or circumstances that could expose the entity to a loss; the methodology used by the entity for determining whether or not it is the primary beneficiary of the variable interest entity; the significant factors considered and judgments made in determining that the power to direct the activities of a VIE that most significantly impact the VIE's economic performance are shared (as defined); the carrying amounts and classification of assets and liabilities of the VIE included in the statement of financial position; the entity's maximum exposure to loss, if any, as a result of its involvement with the VIE, including how the maximum exposure is determined and significant sources of the entity's exposure to the VIE; a comparison of the carrying amounts of the assets and liabilities and the entity's maximum exposure to loss; information about any liquidity arrangements, guarantees, and (or) other commitments by third parties that may affect the fair value or risk of the entity's variable interest in the VIE; whether or not the entity has provided financial support or other support (explicitly or implicitly) to the VIE that it was not previously contractually required to provide or whether the entity intends to provide that support, including the type and amount of the support and the primary reasons for providing the support; and supplemental information the entity determines necessary to provide.

+ References + Details

Commitments and Contingencies

12 Months Ended

Dec. 31, 2019

Commitments And Contingencies Disclosure [Abstract]

Commitments and Contingencies

9.	Commitments and Contingencies

Operating Lease Commitments

We lease office space and laboratory facilities under noncancelable operating leases that have terms expiring through October 2026.

In March 2017, BridgeBio entered into a three-year agreement to rent 3,900 square feet of office space in Palo Alto, California. In May 2019, the lease was extended by three years through April 2023. The aggregate rent expense under the lease is $2.2 million.

In November 2017, Eidos entered into a five-year agreement to rent 4,659 square feet of office space in San Francisco, California. The aggregate rent expense under the lease was $1.7 million. In March 2019, Eidos entered into an amendment to the November 2017 lease and the amended lease commenced on August 2019. In connection with the amendment, Eidos leases 10,552 rentable square feet. The amended Eidos lease is for 87 months and has $6.4 million of future minimum lease payments.

In February 2018, QED entered into a thirty-seven-month agreement to rent 1,944 square feet of office space in San Francisco, California. The aggregate rent expense under the lease is $0.6 million. In October 2018, QED entered into a thirty-four-month agreement to rent 10,000 square feet of office space in San Francisco, California. The aggregate rent expense under the lease is $2.6 million.

In October 2019, Adrenas entered into a sixty-one-month agreement to rent 11,376 square feet of laboratory facility in Raleigh, North Carolina. The aggregate rent expense under the lease is $1.9 million.

We recognize rent expense on a straight-line basis over the noncancelable lease period and record the difference between cash payments and the recognition of rent expense as a deferred rent liability. Where leases contain escalation clauses, rent abatements and/or concessions, such as rent holidays and landlord or tenant incentives or allowances, we apply them in the determination of straight-line rent expense over the lease period.

As of December 31, 2019, future minimum lease payments for all noncancelable operating leases with remaining lease terms in excess of one year, are as follows:

	Amount
	(in thousands)
Year Ending December 31:
2020	$	2,811
2021		2,515
2022		1,812
2023		1,485
2024		1,272
Thereafter		1,816
Total future minimum lease payments	$	11,711

Total rent expense for the years ending December 31, 2019, 2018 and 2017 was $2.8 million, $1.5 million and $0.4 million, respectively.

Milestone Compensation Arrangements with Employees

We have performance-based milestone compensation arrangements with certain employees, whose vesting is contingent upon meeting various regulatory and development milestones, with fixed monetary amounts known at inception that can be settled in the form of cash or fully vested common stock of the Company at our sole election, upon achievement of each contingent milestones. As of December 31, 2019, the potential milestone compensation amount under these arrangements is up to $34.0 million. Under these arrangements, there was no compensation expense recognized or liability recorded for the year ended December 31, 2019 because the performance milestones are not considered probable of achievement.

Other Research and Development Agreements

We may also enter into contracts in the normal course of business with clinical research organizations for clinical trials, with contract manufacturing organizations for clinical supplies and with other vendors for preclinical studies, supplies and other services and products for operating purposes. These contracts generally provide for termination on notice, with the exception of potential termination charges related to one of our contract manufacturing agreements in the event that certain minimum purchase volumes are not met. As of December 31, 2019 and 2018, there were no amounts accrued related to termination charges for minimum purchase volumes not being met.

Indemnification

In the ordinary course of business, we may provide indemnifications of varying scope and terms to vendors, lessors, business partners, board members, officers and other parties with respect to certain matters, including, but not limited to, losses arising out of breach of such agreements, services to be provided by us, our negligence or willful misconduct, violations of law, or intellectual property infringement claims made by third parties. In addition, we have entered into indemnification agreements with directors and certain officers and employees that will require us, among other things, to indemnify them against certain liabilities that may arise by reason of their status or service as directors, officers or employees. No demands have been made upon the us to provide indemnification under such agreements, and thus, there are no claims that we are aware of that could have a material effect on our consolidated balance sheets, statements of operations and comprehensive loss, or statements of cash flows.

We also maintain director and officer insurance, which may cover certain liabilities arising from our obligation to indemnify our directors. To date, we have not incurred any material costs and have not accrued any liabilities in the consolidated financial statements as a result of these provisions.

Contingencies

From time to time, we may become involved in legal proceedings arising in the ordinary course of business. We are not currently a party to any material legal proceedings.

Net Loss Per Share

12 Months Ended

Dec. 31, 2019

Earnings Per Share [Abstract]

Net Loss Per Share

18.	Net Loss Per Share

Basic net loss per share is computed by dividing net loss by the weighted- average number of shares of common stock outstanding. Diluted net loss per share is computed by dividing net loss by the weighted-average number of shares of common stock outstanding, plus all additional common shares that would have been outstanding, assuming dilutive potential common shares had been issued for other dilutive securities. For the years ended December 31, 2019, 2018 and 2017, diluted and basic net loss per common share was identical since potential common shares were excluded from the calculation, as their effect was anti-dilutive.

The following common stock equivalents were excluded from the computation of diluted net loss per share, because including them would have been antidilutive:

	As of December 31,
	2019		2018		2017
Unvested RSAs		5,603,452		5,355,166		6,633,375
Unvested RSUs		362,163	—		—
Unvested market-based RSUs		129,871	—		—
Common stock options issued and outstanding		4,626,777	—		—
		10,722,263		5,355,166		6,633,375

PellePharm Investment

12 Months Ended

Dec. 31, 2019

Equity Method And Cost Method Investment [Abstract]

PellePharm Investment

8.	PellePharm Investment

PellePharm is a clinical-stage biopharmaceutical company developing BBP-009, a topical gel formulation of patidegib, a hedgehog inhibitor, for the treatment of Gorlin Syndrome and High-Frequency Basal Cell Carcinoma. In July 2015, BridgeBio made an initial investment of $4.5 million in PellePharm and in a series of transactions through December 2016, we increased our ownership interest to greater than 50%. BridgeBio determined that its initial investment in PellePharm represented a variable interest, but that BridgeBio was not the primary beneficiary until December 2016.

On November 19, 2018, PellePharm entered into the LEO Agreement, pursuant to which LEO was granted an exclusive, irrevocable option to acquire PellePharm. The LEO Call Option is exercisable by LEO on or before the occurrence of certain events relating to PellePharm’s clinical development programs and no later than July 30, 2021. We account for the LEO Call Option as a current liability in our consolidated financial statements because BridgeBio is obligated to sell its shares in PellePharm to LEO at a pre-determined price, if the option is exercised. We remeasure the LEO Call Option to fair value at each subsequent balance sheet date until the LEO Call Option is either exercised or expires.

The date the LEO Agreement was entered into was determined to be a VIE reconsideration event. Based on our assessment, BridgeBio concluded that PellePharm remains a VIE after the reconsideration event as it does not have sufficient equity at risk to finance its activities without additional subordinated financial support. However, based on changes to PellePharm’s governance structure and Board of Directors composition as a result of the LEO Agreement, BridgeBio is no longer the primary beneficiary as it no longer has the power over the key decisions that most significantly impact PellePharm’s economic performance. Accordingly, BridgeBio deconsolidated PellePharm on November 19, 2018. After the deconsolidation in November 2018, PellePharm is considered a related party of BridgeBio.

As a result of the deconsolidation of PellePharm in November 2018, BridgeBio recorded a gain of $19.3 million primarily related to the remeasurement of its common stock and preferred stock investment in PellePharm to its estimated fair value of $17.3 million. The gain is included in the accompanying consolidated statement of operations for the year ended December 31, 2018. We concluded that the deconsolidation of PellePharm did not qualify for presentation as discontinued operations.

The valuation technique used to measure the fair value of the retained investment in the PellePharm’s common stock and preferred stock is the PWERM, which was based on the expected proceeds from either the acquisition of PellePharm by LEO or LEO not exercising its option to acquire PellePharm during the option period. As of the deconsolidation date, BridgeBio holds 8.0% of the outstanding PellePharm common stock and 61.9% of the outstanding PellePharm preferred stock. BridgeBio also has continuing involvement and significant influence in PellePharm through its participation on the PellePharm Board of Directors. The carrying amount of BridgeBio’s investment in PellePharm in the consolidated balance sheets represents its maximum loss exposure related to its VIE investment in PellePharm.

As of the deconsolidation date, BridgeBio’s investment in PellePharm had a fair value of $17.3 million, which is comprised of $0.5 million in PellePharm common stock that is accounted for as an equity method investment and $16.8 million in PellePharm preferred stock that was accounted for as a cost method investment. Subsequent to the adoption of ASU No. 2016-01, we accounted for the investment in PellePharm preferred stock as an equity security without a readily determinable fair value.

The following represents the amounts related to the PellePharm deconsolidation accounting:

	Amount
	(in thousands)
Working capital (1) (excluding cash and cash equivalents)	$	6,134
Term loan		1,359
Property and equipment, net		(791	)
Carrying value of noncontrolling interest		(688	)
Carrying value of redeemable convertible noncontrolling interest		(1,154	)
Fair value of interest retained by BridgeBio		17,325
Gain on deconsolidation of PellePharm		(19,327	)
Decrease in cash and cash equivalents resulting from the deconsolidation of PellePharm	$	2,858

(1)	Working capital is defined as current assets less current liabilities.

After the deconsolidation of PellePharm in November 2018, BridgeBio accounted for its retained common stock investment as an equity method investment. BridgeBio’s common stock investment valued at $0.5 million upon deconsolidation was compared to BridgeBio’s percentage of underlying equity in net assets of PellePharm. BridgeBio concluded that there was no material basis difference.

For the year ended December 31, 2019 and for the period November 20 through December 31, 2018, BridgeBio’s share of PellePharm’s net losses amounted to $0.2 million and $0.3 million, respectively, based on its percentage of common stock ownership in PellePharm. As of December 31, 2019 and 2018, the aggregate carrying amount of our equity method investment in PellePharm is zero and $0.2 million, respectively. As of December 31, 2019 and 2018, the aggregate carrying amount of the equity security investment in PellePharm is zero and $16.8 million, respectively. After the equity method investment was reduced to zero during the three months ended March 31, 2019, BridgeBio has subsequently recorded its percentage of net losses consistent with its preferred stock ownership percentage of 61.9% until the equity security investment was also reduced to zero during the remaining period of 2019. The carrying amount of BridgeBio’s investment in PellePharm in the consolidated balance sheets represents its maximum loss exposure related to its VIE investment in PellePharm. The aggregate carrying amount of the PellePharm investment is presented as a separate line item in the consolidated balance sheets as of December 31, 2019 and 2018 as part of “Investments in nonconsolidated entities”. We did not recognize an impairment related to our PellePharm investment during the year ended December 31, 2019 and 2018.

Build-to-Suit Operating Lease

12 Months Ended

Dec. 31, 2019

Leases [Abstract]

Build-to-Suit Operating Lease

14.	Build-to-Suit Operating Lease

In December 2019, we entered into a manufacturing agreement to secure clinical and commercial scale manufacturing capacity for the manufacture of batches of active pharmaceutical ingredients for product candidates of certain subsidiaries of the Company. Unless terminated as allowed within the manufacturing agreement, the agreement will expire five (5) years from when qualified operations begin. Under the terms of the agreement, we are assigned a dedicated manufacturing suite for certain months in each calendar year for a one-time fee of $10.0 million, which will be applied to the buildout, commissioning, qualification, validation, equipping and exclusive use of the dedicated manufacturing suite.

We evaluated our involvement during the construction period and determined the scope of the tenant improvements within dedicated manufacturing suite including the building shells did not qualify as “normal tenant improvements” under ASC Topic 840, Leases. Accordingly, for accounting purposes, we will be the deemed owner of the dedicated manufacturing suite during the construction period and considered an embedded operating lease arrangement. We recorded the $10.0 million one-time fee in noncurrent asset. As of December 31, 2019, we paid $2.0 million of the $10.0 million one-time fee and the remaining $8.0 million payable is classified as build-to-suit lease obligation under current liabilities. Upon commencement of construction, we will re-classify such reservation fee under noncurrent asset to construction-in-progress under property and equipment.

Consolidated Statements of Operations - USD ($)
$ in Thousands

12 Months Ended

Dec. 31, 2019

Dec. 31, 2018

Dec. 31, 2017

Income Statement [Abstract]

License revenue

$ 40,560

Revenue from Contract with Customer, Product and Service [Extensible List]

us-gaap:LicenseMember

Operating expenses:

Cost of license revenue

$ 2,500

Research and development

209,947

$ 140,073

$ 30,556

General and administrative

94,353

43,587

13,302

Total operating expenses

306,800

183,660

43,858

Loss from operations

(266,240)

(183,660)

(43,858)

Other income (expense), net:

Interest income

8,915

2,004

Interest expense

(8,765)

(2,547)

(13)

Gain on deconsolidation of PellePharm

19,327

Loss from ML Bio asset acquisition

(416)

Share in net loss of equity method investments

(20,869)

(275)

Other expense

(1,210)

(4,300)

Total other income (expense), net

(22,345)

14,209

Net loss

(288,585)

(169,451)

(43,832)

Net loss attributable to redeemable convertible noncontrolling interests and noncontrolling interests

27,998

38,702

13,267

Net loss attributable to common stockholders of BridgeBio

$ (260,587)

$ (130,749)

$ (30,565)

Net loss per share, basic and diluted

$ (2.48)

$ (2.12)

$ (1.00)

Weighted-average shares used in computing net loss per share, basic and diluted

^[1]

105,099,089

61,767,414

30,598,983

[1]	The weighted-average shares used in computing net loss per share, basic and diluted were retroactively adjusted as a result of the Reorganization. See Note 3 to the consolidated financial statements for additional details.

Noncontrolling Interests - Additional Information (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Noncontrolling Interest [Abstract]
Adjustments of carrying value of noncontrolling interest additional paid-in capital	$ (28.6)	$ 21.6	$ (8.2)

Stock-Based Compensation - Summary of Stock Option Activity under Plans (Details) - 2019 Plan and 2019 Inducement Plan $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2019 USD ($) $ / shares shares
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Options Outstanding, Granted \| shares	4,651,091
Options Outstanding, Exercised \| shares	(949)
Options Outstanding, Cancelled \| shares	(23,365)
Options Outstanding, Outstanding, Ending balance \| shares	4,626,777
Options Outstanding, Exercisable \| shares	514,472
Weighted-Average Exercise Price per Option, Granted \| $ / shares	$ 20.09
Weighted-Average Exercise Price per Option, Exercised \| $ / shares	17.00
Weighted-Average Exercise Price per Option, Cancelled \| $ / shares	17.00
Weighted-Average Exercise Price per Option, Outstanding, Ending balance \| $ / shares	20.10
Weighted-Average Exercise Price per Option, Exercisable \| $ / shares	$ 17.89
Weighted-Average Remaining Contractual Life (years), Outstanding, Ending balance	9 years 7 months 6 days
Weighted-Average Remaining Contractual Life (years), Exercisable	9 years 6 months
Aggregate Intrinsic Value, Outstanding, Ending balance \| $	$ 70,348
Aggregate Intrinsic Value, Exercisable \| $	$ 8,830

License Revenue - Additional Information (Details) - USD ($)	1 Months Ended		12 Months Ended
	Oct. 31, 2019	Sep. 30, 2019	Dec. 31, 2019
License Revenue [Line Items]
Revenue recognized related to agreement			$ 40,560,000
Upfront payment received			10,000,000
Fair value of ordinary shares received			3,800,000
License Revenue
License Revenue [Line Items]
Revenue recognized related to agreement			13,800,000
QED Therapeutics, Inc \| Entities Affiliated with Perceptive Life Sciences Master Fund Ltd.
License Revenue [Line Items]
Upfront nonrefundable payment received	$ 10,000,000
BridgeBio Pharma, LLC \| Entities Affiliated with Perceptive Life Sciences Master Fund Ltd.
License Revenue [Line Items]
Ownership interest	10.00%
Equity method investment	$ 3,800,000
Warrant to purchase percentage	10.00%
Maximum \| QED Therapeutics, Inc \| Entities Affiliated with Perceptive Life Sciences Master Fund Ltd.
License Revenue [Line Items]
Payments received upon achievement of specified development and sales milestones and tiered royalties.	$ 132,500,000
Minimum \| QED Therapeutics, Inc \| Entities Affiliated with Perceptive Life Sciences Master Fund Ltd.
License Revenue [Line Items]
Ownership interest	5.00%
Eidos \| Alexion License Agreements
License Revenue [Line Items]
Upfront nonrefundable payment received		$ 25,000,000
Regulatory milestone payment receivable			30,000,000
Revenue recognized related to agreement			26,700,000
Eidos \| Alexion License Agreements \| Maximum
License Revenue [Line Items]
Future potential regulatory milestones			$ 30,000,000
Eidos \| Alexion License Agreements \| Common Stock \| The Nasdaq Global Select Market
License Revenue [Line Items]
Excess of purchase price over the value of common stock shares		$ 1,700,000
Eidos \| Alexion Agreements \| Common Stock
License Revenue [Line Items]
Issuance of common stock, net of underwriters discounts and issuance costs, shares			556,173
Shares issued, price per share			$ 44.95
Aggregate purchase price			$ 25,000,000
Eidos \| Alexion Agreements \| Common Stock \| The Nasdaq Global Select Market
License Revenue [Line Items]
Shares issued, price per share			$ 41.91
Excess of purchase price over the value of common stock shares			$ 1,700,000

License Agreements

12 Months Ended

Dec. 31, 2019

License Agreements [Abstract]

License Agreements

11.	License Agreements

Stanford License Agreement

In April 2016, Eidos entered into a license agreement with the Board of Trustees of the Leland Stanford Junior University (“Stanford University”) relating to Eidos’ drug discovery and development initiatives. Under this agreement, Eidos has been granted certain worldwide exclusive licenses to make, use and sell products that are covered by licensed patent rights. In March 2017, Eidos paid a license fee of $10,000, which was recorded as research and development expense during the year ended December 31, 2017, as the acquired assets did not have any alternative future use. Eidos may also be required to make future payments of up to approximately $1.0 million to Stanford University upon achievement of specific intellectual property, clinical and regulatory milestone events, and pay royalties of up to low single-digit percentages on future net sales, if any. In addition, Eidos is obligated to pay Stanford University a percentage of non-royalty revenue received by Eidos from its sublicensees, with the amount owed decreasing annually for three years based on when the applicable sublicense agreement is executed. During the years ended December 31, 2019, 2018 and 2017, Eidos recognized research and development expense of $0.2 million, $0.3 million and less than $0.1 million, respectively, in connection with this agreement.

Additionally, under the license agreement with Stanford University, we will pay Stanford University a portion of all nonroyalty sublicensing consideration attributable to the sublicense of the licensed compounds. The license agreement states that if this event occurred in the third year, 10% is payable to Stanford University. During the year ended in December 31, 2019, we recognized $2.5 million as a cost of license revenue upon execution of the Alexion license agreement (see Note 13).

The Regents of the University of California License Agreement

In September 2016, TheRas entered into a license agreement with The Regents of the University of California (“UCSF”) relating to TheRas’ drug discovery and development initiatives. Under this agreement, TheRas has been granted certain worldwide exclusive licenses to use the licensed compounds (the “UCSF License”). In connection with the UCSF License and subsequent amendments, we paid issuance fees totaling $0.3 million. In addition, under the terms of the UCSF License, we are required to pay to UCSF certain annual license maintenance fees unless we are selling or otherwise exploiting licensed products or services and paying royalties to UCSF on net sales for such licensed products or services. With respect to such royalty obligations, we agreed to pay UCSF low single-digit tiered royalties on annual net sales of licensed products and services, with a minimum royalty requirement of $0.1 million. Our obligation to pay royalties continues on a country-by-country basis until the expiration of all licensed patent rights covering licensed products in such country. In addition, we are obligated to make contingent milestone payments totaling up to $22.4 million upon the achievement of certain clinical or regulatory milestones. In the event that we sublicense the patent rights, UCSF is also entitled to receive a percentage of the sublicensing income received by us. During the years ended December 31, 2019, 2018 and 2017, TheRas recognized research and development expense of $0.4 million, $0.1 million and $0.2 million, respectively, in connection with this agreement.

Leidos Biomedical Research License and Cooperative Research and Development Agreements

In March 2017, TheRas entered into a cooperative research and development agreement (“Leidos CRADA”) with Leidos Biomedical Research, Inc. (“Leidos”). In December 2018, TheRas and Leidos entered into a license agreement (“Leidos License,” and together with the Leidos CRADA, the “Leidos Agreements”) under which TheRas has been granted certain worldwide exclusive licenses to use the licensed compounds. The Leidos Agreements are related to TheRas’ drug discovery and development initiatives. During the years ended December 31, 2019, 2018 and 2017, TheRas recognized research and development expenses of $1.9 million, $0.9 million and $0.4 million, respectively, in connection with the Leidos Agreements.

Other License and Collaboration Agreements

In addition to the agreements described above, we have also entered into other license and collaboration agreements with various institutions and business entities on terms similar to those described above, none of which are material individually or in the aggregate.

Noncontrolling Interests - Schedule of Noncontrolling Interests Balance (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Minority Interest [Line Items]
Noncontrolling interests, beginning balance	$ 62,361	$ 2,498	$ 2,595
Issuance (repurchase) of noncontrolling interest	1,206	55,245	1,444
Issuance of noncontrolling interest		99,479
Deconsolidation of PellePharm		688
Repurchase of redeemable noncontrolling interest		(44,234)
Transfers to (from) and conversion of noncontrolling interest:
Transfers to (from) noncontrolling interest	26,832	17,850	8,969
Conversion of redeemable convertible noncontrolling interest to noncontrolling interest		12,252
Net income (loss) attributable to noncontrolling interest	(25,120)	(26,172)	(10,510)
Noncontrolling interests, ending balance	65,279	62,361	2,498
Adrenas Therapeutics, Inc
Minority Interest [Line Items]
Noncontrolling interests, beginning balance	217
Issuance (repurchase) of noncontrolling interest	15
Issuance of noncontrolling interest		5
Transfers to (from) and conversion of noncontrolling interest:
Transfers to (from) noncontrolling interest	2,324	1,760
Net income (loss) attributable to noncontrolling interest	(1,860)	(1,548)
Noncontrolling interests, ending balance	696	217
Aspa
Minority Interest [Line Items]
Noncontrolling interests, beginning balance	245
Issuance (repurchase) of noncontrolling interest	17
Issuance of noncontrolling interest		7
Transfers to (from) and conversion of noncontrolling interest:
Transfers to (from) noncontrolling interest	1,342	654
Net income (loss) attributable to noncontrolling interest	(1,354)	(416)
Noncontrolling interests, ending balance	250	245
Eidos
Minority Interest [Line Items]
Noncontrolling interests, beginning balance	58,185	766	605
Issuance (repurchase) of noncontrolling interest	(754)		1,218
Issuance of noncontrolling interest		98,765
Repurchase of redeemable noncontrolling interest		(44,234)
Transfers to (from) and conversion of noncontrolling interest:
Transfers to (from) noncontrolling interest	16,004	4,093	2,157
Conversion of redeemable convertible noncontrolling interest to noncontrolling interest		12,252
Net income (loss) attributable to noncontrolling interest	(13,713)	(13,457)	(3,214)
Noncontrolling interests, ending balance	59,722	58,185	766
PellePharm, Inc
Minority Interest [Line Items]
Noncontrolling interests, beginning balance		883	1,990
Issuance (repurchase) of noncontrolling interest			181
Issuance of noncontrolling interest		239
Deconsolidation of PellePharm		688
Transfers to (from) and conversion of noncontrolling interest:
Transfers to (from) noncontrolling interest		2,731	2,272
Net income (loss) attributable to noncontrolling interest		(4,541)	(3,560)
Noncontrolling interests, ending balance			883
PTR
Minority Interest [Line Items]
Noncontrolling interests, beginning balance	2,728	227
Issuance (repurchase) of noncontrolling interest	73		1
Issuance of noncontrolling interest		7
Transfers to (from) and conversion of noncontrolling interest:
Transfers to (from) noncontrolling interest	2,245	5,210	2,242
Net income (loss) attributable to noncontrolling interest	(3,748)	(2,716)	(2,016)
Noncontrolling interests, ending balance	1,298	2,728	227
Venthera, Inc.
Minority Interest [Line Items]
Noncontrolling interests, beginning balance	449
Issuance (repurchase) of noncontrolling interest	6
Issuance of noncontrolling interest		14
Transfers to (from) and conversion of noncontrolling interest:
Transfers to (from) noncontrolling interest	777	1,047
Net income (loss) attributable to noncontrolling interest	(1,092)	(612)
Noncontrolling interests, ending balance	140	449
All Other
Minority Interest [Line Items]
Noncontrolling interests, beginning balance	537	622
Issuance (repurchase) of noncontrolling interest	1,849		44
Issuance of noncontrolling interest		442
Transfers to (from) and conversion of noncontrolling interest:
Transfers to (from) noncontrolling interest	4,140	2,355	2,298
Net income (loss) attributable to noncontrolling interest	(3,353)	(2,882)	(1,720)
Noncontrolling interests, ending balance	$ 3,173	$ 537	$ 622

Summary of Significant Accounting Policies (Policies)

12 Months Ended

Dec. 31, 2019

Accounting Policies [Abstract]

Basis of Presentation and Principles of Consolidation

The consolidated financial statements include the accounts of BridgeBio Pharma, Inc., its wholly owned subsidiaries and controlled entities, all of which are denominated in U.S. dollars. All intercompany balances and transactions have been eliminated in consolidation.

The consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States (“GAAP”)

and, in the opinion of management, reflect all adjustments, which include only normal recurring adjustments, necessary for a fair statement of our financial position, our results of operations and comprehensive loss, and our cash flows for the periods presented. The results of operations for the years ended December 31, 2019, 2018 and 2017 are not necessarily indicative of the results to be expected for the year ending December 31, 2020 or for any other future annual or interim period.

Factors Affecting Comparability

Our historical financial condition and results of operations for the periods presented may not be comparable, either between periods or going forward due to the factors described below.

Eidos Therapeutics, Inc. Transactions:

In February 2018, we entered into a note and warrant purchase agreement with Eidos pursuant to which Eidos issued a convertible promissory note, or the Eidos Note, with the principal amount of $10.0 million and a warrant to purchase a number of shares of preferred stock equal to $4.0 million at the price paid by investors in the next equity financing, or the Eidos Warrant. In March 2018, we transferred 10% or $1.0 million of our interest in the Eidos Note and the Eidos Warrant to a minority stockholder of Eidos. In March 2018, the Eidos Note was redeemed into shares of Series B redeemable convertible preferred stock of Eidos at a 30% discount to the price paid by other investors. In conjunction with these transactions, Eidos recognized a preferred stock warrant liability, tranche liability and an embedded derivative, which were recorded at fair value at inception and remeasured to fair value at each subsequent reporting date until the instruments were settled. For the year ended December 31, 2018, we recorded $1.3 million in other income (expense), net in the consolidated statements of operations related to these 2018 Eidos financing transactions. All of these Eidos financial instruments were settled during 2018.

In June 2018, Eidos completed its initial public offering, or the Eidos IPO. All redeemable convertible preferred stock of Eidos was converted into common stock at the closing of the Eidos IPO. As part of the Eidos IPO, we purchased common stock in the amount of $17.0 million. The Eidos Warrant was also net exercised upon the completion of the Eidos IPO. We previously determined that Eidos was a controlled VIE as of December 31, 2017 and through its initial public offering in June 2018, at which time we determined that Eidos is no longer a VIE. In May 2019, we purchased 1,103,848 shares of Eidos common stock from an existing Eidos stockholder for $28.6 million in a private purchase transaction. In July 2019, we purchased 882,353 shares of Eidos common stock from an existing Eidos investor for $26.4 million in a private purchase transaction. Subsequent to the Eidos IPO and through December 31, 2019, we held a majority voting interest in Eidos and consolidate Eidos under the VOE model.

PellePharm, Inc. Transactions:

PellePharm entered into a series of agreements, or the LEO Agreement, with LEO Pharma A/S, or LEO, in November 2018. As part of the LEO Agreement, we granted LEO an exclusive, irrevocable option, or the LEO Call Option, to acquire all of PellePharm’s shares held by us. The LEO Call Option is exercisable by LEO on or before the occurrence of certain events relating to PellePharm’s clinical development programs and no later than July 30, 2021. We account for the LEO Call Option as a current liability in our consolidated financial statements because we are obligated to sell our shares in PellePharm to LEO at a pre-determined price, if the option is exercised. The fair value of the LEO Call Option on issuance in November 2018 was $1.9 million and increased to $3.0 million as of December 31, 2018 and increased to $4.1 million as of December 31, 2019. The change in fair value of the LEO Call Option is recorded as part of other expense in our consolidated statements of operations. We remeasure the LEO Call Option to fair value at each subsequent balance sheet date until the LEO Call Option is either exercised or expires. We previously determined that we were the primary beneficiary of PellePharm, as of December 31, 2017 and through the date of execution of the LEO Agreement in November 2018. At the time of execution, we concluded that we are no longer the primary beneficiary of, and thus deconsolidated, PellePharm. Subsequent to the LEO Agreement, we account for our retained investment in common and preferred stock of PellePharm under the equity method and cost method, respectively. Upon adoption ASU 2016-01 in 2019 (see Recently Adopted Accounting Pronouncements), we concluded that our investment in preferred stock of PellePharm did not have a readily available fair value. As a result we started to measure the adjusted cost basis of our retained investment in PellePharm’s preferred stock at cost less impairment plus or minus observable price changes. Since our investment in common stock was reduced to zero during the first quarter of 2019 as a result of applying the equity method, we subsequently adjusted the cost basis of our preferred stock investment by recording our percentage of net losses consistent with our preferred stock ownership percentage of 61.9% until the adjusted cost basis was also reduced to zero during the remaining period of 2019.

Variable Interest Entities and Voting Interest Entities

BridgeBio consolidates those entities in which it has a direct or indirect controlling financial interest based on either the Variable Interest Entity (“VIE”) model or the Voting Interest Entity (“VOE”) model.

VIEs are entities that, by design, either (i) lack sufficient equity to permit the entity to finance its activities without additional subordinated financial support from other parties; or (ii) have equity investors that do not have the ability to make significant decisions relating to the entity’s operations through voting rights, or do not have the obligation to absorb the expected losses, or do not have the right to receive the residual returns of the entity.

The primary beneficiary of a VIE is required to consolidate the assets and liabilities of the VIE. The primary beneficiary is the party that has both (i) the power to direct the activities of the VIE that most significantly impact the VIE’s economic performance; and (ii) the obligation to absorb losses or the right to receive benefits from the VIE that could potentially be significant to the VIE through its interest in the VIE.

To assess whether BridgeBio has the power to direct the activities of a VIE that most significantly impact the VIE’s economic performance, BridgeBio considers all the facts and circumstances, including its role in establishing the VIE and its ongoing rights and responsibilities. This assessment includes identifying the activities that most significantly impact the VIE’s economic performance and identifying which party, if any, has power over those activities. In general, the parties that make the most significant decisions affecting the VIE (management and representation on the Board of Directors) and have the right to unilaterally remove those decision-makers are deemed to have the power to direct the activities of a VIE.

To assess whether BridgeBio has the obligation to absorb losses of the VIE or the right to receive benefits from the VIE that could potentially be significant to the VIE, BridgeBio considers all of its economic interests, which primarily include equity investments in preferred and common stock and issuance of notes that are convertible into preferred stock, that are deemed to be variable interests in the VIE. This assessment requires BridgeBio to apply judgment in determining whether these interests, in the aggregate, are considered potentially significant to the VIE. Factors considered in assessing the significance include: the design of the VIE, including its capitalization structure; subordination of interests; payment priority; relative share of interests held across various classes within the VIE’s capital structure; and the reasons why the interests are held by BridgeBio.

At the VIE’s inception, BridgeBio determines whether it is the primary beneficiary and if the VIE should be consolidated based on the facts and circumstances. BridgeBio then performs on-going reassessments of the VIE based on reconsideration events and reevaluates whether a change to the consolidation conclusion is required each reporting period. Refer to Note 6.

Entities that do not qualify as a VIE are assessed for consolidation under the VOE model. Under the VOE model, BridgeBio consolidates the entity if it determines that it, directly or indirectly, has greater than 50% of the voting shares and that other equity holders do not have substantive voting, participating or liquidation rights. Refer to Note 6.

We have either created or made investments in entities that are either wholly or partially-owned subsidiaries and VIEs. The following are the VIEs as of December 31, 2019 and 2018:

Variable Interest Entities	Relationship as of December 31, 2019	Date Control First Acquired	Ownership % as of December 31, 2019			Ownership % as of December 31, 2018
			(unaudited)
Fortify Therapeutics, Inc. (”Fortify”)	Controlled VIE	June 2018		99.7	%		100.0	%
Calcilytix Therapeutics, Inc. ("Calcilytix")	Controlled VIE	December 2018		98.9	%		100.0	%
Audition Therapeutics, Inc. ("Audition")	Controlled VIE	May 2019		64.5	%		—
Molecular Skin Therapeutics, Inc. (”MOST”)	Controlled VIE	July 2016		64.8	%		61.7	%
TheRas, Inc. (”Theras”)	Controlled VIE	August 2016		99.6	%		100.0	%
Quartz Therapeutics, Inc. (”Quartz”)	Controlled VIE	October 2016		89.0	%		89.0	%
PellePharm, Inc. (”PellePharm”)⁽¹⁾	VIE	December 2016		43.3	%		43.3	%
Navire Pharma, Inc. (”Navire”)	Controlled VIE	February 2017		78.6	%		78.8	%
CoA Therapeutics, Inc. (”CoA”)	Controlled VIE	February 2017		99.5	%		99.5	%
Dermecular Therapeutics, Inc. (”Dermecular”)	Controlled VIE	April 2017		87.6	%		87.6	%
Phoenix Tissue Repair, Inc. (”PTR”)	Controlled VIE	July 2017		65.5	%		56.7	%
QED Therapeutics, Inc. (”QED”)	Controlled VIE	January 2018		97.8	%		94.4	%
Adrenas Therapeutics, Inc. (”Adrenas”)	Controlled VIE	January 2018		90.1	%		90.1	%
Orfan Biotech, Inc. (”Orfan”)	Controlled VIE	January 2018		91.7	%		85.1	%
Ferro Therapeutics, Inc. (”Ferro”)	Controlled VIE	March 2018		90.9	%		89.4	%
Origin Biosciences, Inc. (”Origin”)	Controlled VIE	April 2018		99.6	%		100.0	%
Venthera, Inc. (”Venthera”)	Controlled VIE	April 2018		83.2	%		82.0	%
Aspa Therapeutics, Inc. (”Aspa”)	Controlled VIE	June 2018		91.0	%		92.5	%
ML Bio Solutions, Inc. (”ML Bio”)	Controlled VIE	July 2019		50.6	%		—

(1)

Subsequent to the execution of a series of agreements (the “LEO Agreement”) with LEO Pharma A/S and LEO Spiny Merger Sub, Inc. (“LEO”) in November 2018, BridgeBio determined that it is no longer the primary beneficiary of PellePharm, Inc. (“PellePharm”) and deconsolidated PellePharm. Refer to Note 8.

Not included in the above list is Eidos, which is a partially-owned subsidiary that we consolidate under the VOE model.

Equity Method and Other Investments in Equity Method Investees

We utilize the equity method to account for investments when we possess the ability to exercise significant influence, but not control, over the operating and financial decisions of the investee. Generally, the ability to exercise significant influence is presumed when the investor possesses more than 20% of the voting interests of the investee. This presumption may be overcome based on specific facts and circumstances that demonstrate that the ability to exercise significant influence is restricted. We apply the equity method to investments in common stock and to other investments in entities that have risk and reward characteristics that are substantially similar to an investment in the investee’s common stock.

In applying the equity method, we record the investment at cost unless the initial recognition is the result of the deconsolidation of a subsidiary, in which case it is recorded at fair value. We subsequently increase or decrease the carrying amount of the investment by our proportionate share of the net earnings or losses and other comprehensive income of the investee based on our percentage of common stock ownership during the respective reporting period. Payments to investees such as additional investments, loans and expenses incurred on behalf of investees, as well as payments from investees such as dividends, distributions and repayments of loans are recorded as adjustments to the carrying value of the investment. In the event that net losses of the investee reduce the carrying amount to zero, additional net losses may be recorded if we have other investment in the investee not accounted for under the equity method, have guaranteed obligations of the investee, or we are otherwise committed to provide further financial support for the investee.

We account for investments at fair value when we do not have significant influence over the investee. In the absence of readily available fair value, we measure the investment at cost less impairment plus or minus observable price changes, if any. We recognize income for any dividends declared from the distribution of the investee’s earnings.

As of December 31, 2019 and 2018, we have an equity method and equity security investments in PellePharm, which are presented in the consolidated financial statements as part of single line item titled “Investments in nonconsolidated entities.” The equity security investments in PellePharm are without a readily determinable fair value and is carried at cost less impairment plus or minus observable price changes. Refer to Note 8 for further discussion on the PellePharm investment. We have an equity method investment in another third party for ordinary shares representing 10% of the third party’s fully-diluted equity (see Note 13). The amount of the investment was reduced to zero as of December 31, 2019 after recognizing our equity share in the net losses on the investment for the year ended December 31, 2019.

Under the equity method of accounting, our investments are reviewed for indicators of impairment at each reporting period and are written down to fair value if there is evidence of a loss in value that is other-than-temporary. Factors that may be indicative of an impairment include a series of operating losses of an investee, the absence of an ability to recover the carrying amount of the investment, the inability of the investee to sustain an earnings capacity and a current fair value of an investment that is less than its carrying amount. Indicators that a decline in value may be other-than-temporary include the length of time and the extent to which the estimated fair value or market value has been below the carrying value, the financial condition and the near-term prospects of the investee, the intent and our ability to retain our investment in the investee for a period of time sufficient to allow for any anticipated recovery in market value and general market conditions. The estimation of fair value and whether an other-than-temporary impairment has occurred requires the application of significant judgment and future results may vary from current assumptions. No impairment charge was recognized during the years ended December 31, 2019 and 2018 related to our equity method investments.

Concentration of Credit Risk and Other Risks and Uncertainties

Financial instruments that subject us to significant concentrations of credit risk consist primarily of cash, cash equivalents and restricted cash. Our cash, cash equivalents and restricted cash are held in financial institutions in the United States. Amounts on deposit may at times exceed federally insured limits. Management believes that the financial institutions are financially sound and, accordingly, minimal credit risk exists with respect to the financial institutions.

We are subject to certain risks and uncertainties and we believe that changes in any of the following areas could have a material adverse effect on future financial position or results of operations: ability to obtain future financing; regulatory approval and market acceptance of, and reimbursement for, product candidates; performance of third-party clinical research organizations and manufacturers upon which we rely; development of sales channels; protection of our intellectual property; litigation or claims against us based on intellectual property, patent, product, regulatory or other factors; and our ability to attract and retain employees necessary to support our growth.

We are dependent on third-party manufacturers to supply products for research and development activities in our programs. In particular, we rely and expects to continue to rely on a small number of manufacturers to supply us with our requirements for the active pharmaceutical ingredients and formulated drugs related to these programs. These programs could be adversely affected by a significant interruption in the supply of active pharmaceutical ingredients and formulated drugs.

Restricted Cash

Under certain lease agreements and letters of credit, we have pledged cash and cash equivalents as collateral. As of December 31, 2019 and 2018, restricted cash related to such agreements was $0.4 million and $0.2 million, respectively and is classified in other assets in our consolidated balance sheets.

Cash Cash Equivalents and Investments

Cash, Cash Equivalents and Investments

We consider all highly liquid investments purchased with original maturities of 90 days or less from the purchase date to be cash equivalents. Cash equivalents consist primarily of amounts invested in money market instruments, such as money market funds and repurchase agreements collateralized with securities issued by the U.S. government or its agencies.

We invest in marketable securities, primarily corporate notes, government, government agency, and municipal bonds. We classify our marketable securities as available-for-sale securities and report them at fair value in cash equivalents or marketable securities on the consolidated balance sheets with related unrealized gains and losses included as a component of shareholders' equity. We classify our marketable securities as either short-term or long-term based on each instrument’s underlying contractual maturity date. The amortized cost of debt securities is adjusted for amortization of premiums and accretion of discounts to maturity, which is included in interest income on the consolidated statements of operations. Realized gains and losses and declines in value judged to be other-than-temporary, if any, on available-for-sale securities are included in other expense. The cost of securities sold is based on the specific identification method. Interest and dividends on securities classified as available-for-sale are included in interest income.

Our cash, cash equivalents, investments are exposed to credit risk in the event of default by the third parties that hold or issue such assets. Our cash, cash equivalents, investments are held by financial institutions that management believes are of high credit quality. Our investment policy limits investments to fixed income securities denominated and payable in U.S. dollars such as corporate bonds, corporate commercial paper, U.S. government obligations, and money market funds and places restrictions on maturities and concentrations by type and issuer.

The following table provides a reconciliation of cash, cash equivalents and restricted cash reported within the consolidated balance sheets that sum to the total of the amounts shown in the consolidated statements of cash flows:

	December 31,
	2019		2018		2017
	(in thousands)
Cash and cash equivalents	$	363,773	$	436,086	$	91,995
Restricted cash		424		159		381
Total cash, cash equivalents and restricted cash shown in the consolidated statements of cash flows	$	364,197	$	436,245	$	92,376

Fair Value Measurements

Assets and liabilities recorded at fair value on a recurring basis in the balance sheets are categorized based upon the level of judgment associated with the inputs used to measure their fair values. Fair value is defined as the exchange price that would be received for an asset or an exit price that would be paid to transfer a liability in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. Valuation techniques used to measure fair value must maximize the use of observable inputs and minimize the use of unobservable inputs. The authoritative guidance on fair value measurements establishes a three-tier fair value hierarchy for disclosure of fair value measurements as follows:

Level 1—Observable inputs such as unadjusted, quoted prices in active markets for identical assets or liabilities at the measurement date;

Level 2—Inputs (other than quoted prices included in Level 1) are either directly or indirectly observable for the asset or liability. These include quoted prices for similar assets or liabilities in active markets and quoted prices for identical or similar assets or liabilities in markets that are not active; and

Level 3—Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities.

To the extent that the valuation is based on models or inputs that are less observable or unobservable in the market, the determination of fair value requires more judgment. Accordingly, the degree of judgment we exercise in determining fair value is greatest for instruments categorized in Level 3. A financial instrument’s level within the fair value hierarchy is based on the lowest level of any input that is significant to the fair value measurement.

The carrying amounts reflected in the accompanying consolidated balance sheets for cash and cash equivalents, restricted cash, prepaid expenses and other current assets, accounts payable and accrued expenses approximate their fair values, due to their short-term nature.

Property and Equipment, net

Property and equipment are stated at cost, net of accumulated depreciation and amortization. Depreciation and amortization of property and equipment is calculated using the straight-line method over the estimated useful lives of the respective assets. Maintenance and repairs that do not improve or extend the life of the assets are expensed when incurred. Upon sale or retirement of assets, the cost and accumulated depreciation and amortization are removed from the consolidated balance sheet and any resulting gain or loss is reflected in the consolidated statement of operations in the period realized.

The estimated useful lives of our property and equipment are as follows:


Furniture and office equipment		3 - 5 years
Lab equipment		3 - 5 years
Leasehold improvements		Shorter of remaining lease term or estimated useful life

Depreciation and amortization expense were not material during the periods presented.

Asset Acquisitions

We measure and recognize asset acquisitions that are not deemed to be business combinations based on the cost to acquire the assets, which includes transaction costs. Goodwill is not recognized in asset acquisitions. In an asset acquisition, the cost allocated to acquire in-process research and development (“IPR&D”) with no alternative future use is charged to research and development expense at the acquisition date.

Impairment of Long-Lived Assets

Long-lived assets are reviewed for impairment annually or whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Recoverability is measured by comparison of the carrying amount of an asset group to the future net undiscounted cash flows that the assets are expected to generate. If the carrying amount of an asset group exceeds its estimated future cash flows, an impairment charge is recognized in the amount by which the carrying amount of the asset group exceeds the fair value of the asset group. There was no impairment of long-lived assets for any of the periods presented.

Segments

We determined that we operate in a single segment, which is the business of identifying and advancing transformative medicines to treat patients. We operate in one segment because our business offerings have similar economics and other characteristics, including the nature of products and manufacturing processes, types of customers, distribution methods and regulatory environment. We are comprehensively managed as one business segment by our Chief Executive Officer and his management team. All of our capitalized property and equipment is located in the United States. Revenue from license and collaborative arrangements are attributed to regions based on the headquarters of the partner. For the year ended December 31, 2019, approximately 66% of our revenue is from Alexion Pharmaceuticals with headquarters located in the United States and 34% with a third-party biotech company with headquarters located in Shanghai, China.

Use of Estimates

The preparation of consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements, and the reported amounts of expenses during the reporting period. Significant estimates and assumptions made in the accompanying consolidated financial statements include, but are not limited to, the fair value of the LEO Call Option liability, the valuation of our stock-based awards, accruals for certain employees’ performance-based milestones, accruals for research and development activities, accruals for contingent milestone payments in our license agreements and income tax uncertainties. We base our estimates on historical experience and on various other assumptions that are believed to be reasonable. Actual results may differ from those estimates or assumptions.

License Arrangements and Multiple-Element Arrangements

Revenue from non-refundable, up-front license or technology access payments under license arrangements that are not dependent on any future performance by us is recognized when such amounts are earned. If we have continuing obligations to perform under the arrangement, such fees are recognized over the estimated period of continuing performance obligation.

When we enter into license agreements, we assess whether the arrangements fall within the scope of Accounting Standards Codification (ASC) 808, Collaborative Arrangements (ASC 808) based on whether the arrangements involve joint operating activities and whether both parties have active participation in the arrangement and are exposed to significant risks and rewards. To the extent that the arrangement falls within the scope of ASC 808, we assess whether the payments between us and our partner fall within the scope of other accounting literature. If we conclude that payments from the partner to us represent consideration from a customer, such as license fees and contract research and development activities, we account for those payments within the scope of ASC 606, Revenue from Contracts with Customers. However, if we conclude that our partner is not a customer for certain activities and associated payments, such as for certain collaborative research, development, manufacturing and commercial activities, we present such payments as a reduction of research and development expense or general and administrative expense, based on where we present the underlying expense.

Revenue Recognition

For elements of those arrangements that we determine should be accounted for under ASC 606, we assess which activities in our license or collaboration agreements are performance obligations that should be accounted for separately and determine the transaction price of the arrangement, which includes the assessment of the probability of achievement of future milestones and other potential consideration. For arrangements that include multiple performance obligations, such as granting a license or performing contract research and development activities or participation on joint steering or other committees, we allocate upfront and milestone payments under a relative standalone selling price method. Accordingly, we develop assumptions that require judgment to determine the standalone selling price for each performance obligation identified in the contract. These key assumptions may include revenue forecasts, clinical development timelines and costs, discount rates and probabilities of clinical and regulatory success.

License Fees: For arrangements that include a grant of a license to our intellectual property, we consider whether the license grant is distinct from the other performance obligations included in the arrangement. Generally, we would conclude that the license is distinct if the customer is able to benefit from the license with the resources available to it. For licenses that are distinct, we recognize revenues from nonrefundable, upfront payments and other consideration allocated to the license when the license term has begun and we have provided all necessary information regarding the underlying intellectual property to the customer, which generally occurs at or near the inception of the arrangement.

Milestone Payments: We are required to include additional consideration in the transaction price when it is probable. We include milestone payments for research and development services in the transaction price when they are achieved. We include these milestone payments when they are achieved because there is considerable uncertainty in the research and development processes that trigger these payments under our agreements. Similarly, we include approval milestone payments in the transaction price once the product is approved by the applicable regulatory agency. We will recognize sales based milestone payments in the period we achieve the milestone under the sales-based royalty exception allowed under accounting rules. We recognize milestone payments that relate to an ongoing performance obligation over our period of performance. Conversely, we recognize in full those milestone payments that we earn based on our partners’ activities when our partner achieves the milestone event.

Research and Development Expenses

Research and development costs are expensed as incurred. Research and development expenses consist of salaries, benefits and other personnel related costs including stock-based compensation expense, laboratory supplies, preclinical studies, clinical trials and related clinical manufacturing costs, costs related to manufacturing preparations, fees paid to other entities to conduct certain research and development activities on our behalf and allocated facility and other related costs. Non-refundable advance payments for goods or services that will be used or rendered for future research and development activities are deferred and capitalized as prepaid expenses until the related goods are delivered or services are performed.

Accrued Research and Development Liabilities

We record accruals for estimated costs of research and development activities conducted by third-party service providers, which include the conduct of preclinical studies and clinical trials, and contract manufacturing activities. We record the estimated costs of research and development activities based upon the estimated amount of services provided but not yet invoiced, and include these costs in accrued research and development liabilities in the consolidated balance sheet and within research and development expense in the consolidated statements of operations. These costs are a significant component of our research and development expenses.

•

Examples of estimated research and development expenses that we accrue include:

•

fees paid to CROs in connection with preclinical and toxicology studies and clinical studies;

•

fees paid to investigative sites in connection with clinical studies;

•

fees paid to CMOs in connection with the production of product and clinical study materials; and

•

professional service fees for consulting and related services.

We base our expense accruals related to clinical studies on our estimates of the services received and efforts expended pursuant to contracts with multiple research institutions and CROs that conduct and manage clinical studies on our behalf. The financial terms of these agreements vary from contract to contract and may result in uneven payment flows. Payments under some of these contracts depend on factors, such as the successful enrollment of patients and the completion of clinical study milestones. Our service providers generally invoice us monthly in arrears for services performed. In accruing service fees, we estimate the time period over which services will be performed and the level of effort to be expended in each period. If we do not identify costs that we have begun to incur or if we underestimate or overestimate the level of services performed or the costs of these services, our actual expenses could differ from our estimates. We record advance payments to service providers as prepaid assets.

We record accruals for the estimated costs of our contract manufacturing activities performed by third parties. The financial terms of these agreements are subject to negotiation, vary from contract to contract and may result in uneven payment flows to our vendors. Payments under the contracts include upfront payments and milestone payments, which depend on factors such as the achievement of the completion of certain stages of the manufacturing process. For purposes of recognizing expense, we assess whether we consider the production process sufficiently defined to be considered the delivery of a good or the delivery of a service, where processes and yields are developing and less certain. If we consider the process to be the delivery of a good, we recognize expense when the drug product is delivered, or we otherwise bear risk of loss. If we consider the process to be the delivery of a service, we recognize expense based on our best estimates of the contract manufacturer’s progress towards completion of the stages in the contract. We base our estimates on the best information available at the time. However, additional information may become available to us which may allow us to make a more accurate estimate in future periods. In this event, we may be required to record adjustments to research and development expenses in future periods when the actual level of activity becomes more certain. Any increases or decreases in cost are generally considered to be changes in estimates and will be reflected in research and development expenses in the period identified.

Stock-Based Compensation

Stock-based compensation arrangements include stock option grants, restricted stock awards (RSA) and restricted stock units (RSU) awards under our equity incentive plans, as well as shares issued under our Employee Stock Purchase Plan (ESPP), through which employees may purchase our common stock at a discount to the market price.

We use the Black‑Scholes‑Merton option pricing model to estimate the fair value of options granted under our equity incentive plans and rights to acquire shares granted under our employee share purchase plan (“ESPP”). The Black‑Scholes‑Merton option valuation model requires the use of assumptions, including the expected term of the award and the expected share price volatility. The Company uses the “simplified” method to estimate the expected option term.

Stock-based compensation is measured at the grant date for all stock-based awards made to employees and non-employees based on the fair value of the awards. Compensation expense for purchases under the ESPP is recognized based on the fair value of the award on the date of offering. Stock-based compensation is recognized as expense on a straight-line basis over the requisite service period, which is generally the vesting period.

The estimated fair value of performance-contingent equity awards is expensed using an accelerated method over the term of the award once we have determined that it is probable that performance milestones will be achieved. Compensation expense for equity awards that contain performance conditions is based on the grant date fair value of the award. Compensation expense is recorded over the requisite service period based on management's best estimate as to whether it is probable that the shares awarded are expected to vest. We assess the probability of the performance milestones being met on a continuous basis. The grant date fair value of awards with a market condition is determined using a Monte Carlo valuation model and the compensation expense is recognized over the implied service period.

We have elected to recognize the actual forfeitures by reducing the stock-based compensation in the same period as the forfeitures occur. Stock-based compensation for awards made to non-employees was measured as per ASC 505-50 until we early adopted Accounting Standards Update (“ASU”) 2018-07 Compensation-Stock Compensation (Topic 718) on January 1, 2017. We remeasured our equity-classified non-employee awards for which a measurement date had not been established at their adoption date fair-value based measurement (January 1, 2017) and determined there was no cumulative-effect adjustment to opening accumulated deficit. Subsequent to the adoption of ASU 2018-07, we account for non-employee awards similar to employee awards.

BBP LLC had granted Management Incentive Units and Common Units to employees and non-employees. These awards generally had only a service condition and vest over a period of up to five years. The awards had accelerated vesting upon a fundamental transaction (a “Fundamental Transaction”) which is defined as (i) a merger, recapitalization or other business combination, (ii) a sale, transfer, exclusive license or disposition of the Company or (iii) a final liquidation, dissolution, winding-up or termination of the Company. The unvested outstanding management incentive units and common units of BBP LLC were exchanged for shares of the Corporation’s unvested restricted stock, subject to the same time-based vesting conditions as the original management incentive units and common units terms and conditions (see Note 3).

Stock-based compensation is recorded in research and development expense, and general and administrative expense based on the function of the applicable employee and non-employee.

Milestone Compensation Arrangements with Employees

We have performance-based milestone compensation arrangements with certain employees, whose vesting is contingent upon meeting various regulatory and development milestones, with fixed monetary amounts known at inception that can be settled in the form of cash or fully vested common stock of the Company at our sole election, upon achievement of each contingent milestones. Compensation expense arising from each milestone is recognized when the specific contingent milestone is probable of achievement and is measured at each reporting period. Under ASC 718, Compensation – Stock Compensation, we will classify the milestone compensation arrangements as liability-classified awards when it is probable of achievement because of the possible fixed monetary amounts settlement outcomes. The arrangements would also result in settlement with a variable number of shares based on the then-current stock price at grant date should we elect to settle in equity.

Amortization of Debt Issuance Costs

Debt issuance costs are amortized to interest expense over the estimated life of the related debt based on the effective interest method.

Income Taxes

Income taxes are accounted for under the asset and liability method. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax base and net operating loss and tax credit carryforwards. Deferred tax assets and liabilities are determined based upon the difference between the consolidated financial statement carrying amounts and the tax basis of assets and liabilities and are measured using the enacted tax rate expected to apply to taxable income in the years in which the differences are expected to be reversed. Deferred tax assets are reduced by a valuation allowance if it is more likely than not that some portion or all of the deferred tax asset will not be realized.

For U.S. federal income tax purposes, we are required to file separate U.S. federal income tax returns for the consolidated entities. We are required to assess stand-alone valuation allowances separately in each entity even though we consolidate their financial results in the consolidated financial statements. We continue to file combined state tax returns in most jurisdictions. As a result, we continue to assess the state portion of valuation allowance for those jurisdictions on a consolidated basis.

We evaluate our deferred tax assets regularly to determine whether adjustments to the valuation allowance are appropriate due to changes in facts or circumstances, such as changes in expected future pre-tax earnings, tax law, interactions with taxing authorities and developments in case law. In making this evaluation, we rely on our recent history of pre-tax earnings. Our material assumptions are our forecasts of future pre-tax earnings and the nature and timing of future deductions and income represented by the deferred tax assets and liabilities, all of which involve the exercise of significant judgment. Although we believe our estimates are reasonable, we are required to use significant judgment in determining the appropriate amount of valuation allowance recorded against deferred tax assets.

We recognize uncertain income tax positions at the largest amount that is more likely than not to be sustained upon audit by the relevant taxing authority. Changes in recognition or measurement are reflected in the period in which judgment occurs. Our policy is to recognize interest and penalties related to the underpayment of income taxes as a component of the provision for income taxes. To date, there have been no interest or penalties recorded in relation to unrecognized tax benefits.

LEO Call Option Liability

We have accounted for LEO Call Option as a current liability as we have the obligation to sell our PellePharm shares to LEO at a pre-determined price if the option is exercised. The LEO Call Option was recorded at fair value upon execution of the LEO Agreement. The LEO Call Option is subject to remeasurement to fair value at each balance sheet date until the LEO Call Option is either exercised or expires as it does not qualify for equity classification. Any change in the fair value of the LEO Call Option is recognized as a component of other income (expense), net in the consolidated statements of operations. Refer to Note 4 and Note 8 for further discussion.

Net Loss per Share

Basic net loss per share is calculated by dividing the net loss by the weighted-average number of shares of the Corporation’s common stock outstanding for the period, without consideration for potential dilutive shares of common stock, such as stock options, unvested restricted stock units and shares issuable under the employee stock purchase plan. Shares of common stock subject to repurchase are excluded from the weighted-average shares. Since we were in a loss position for all periods presented, basic net loss per share is the same as diluted net loss per share since the effects of potentially dilutive securities are antidilutive.

No adjustment for cumulative returns on BBP LLC’s redeemable convertible preferred units has been applied to the calculation of basic and diluted net loss per share, since such units were retroactively adjusted as if the Reorganization occurred at the beginning of the earliest period to be presented in our financial statements for the year ending December 31, 2019. See Note 3 to for additional details.

Emerging Growth Company Status

We are an emerging growth company, as defined in the Jumpstart Our Business Startups Act of 2012 (the “JOBS Act”). Under the JOBS Act, emerging growth companies can delay adopting new or revised accounting standards issued subsequent to the enactment of the JOBS Act until such time as those standards apply to private companies. We have elected to use this extended transition period for complying with new or revised accounting standards that have different effective dates for public and private companies until the earlier of the date that it (i) is no longer an emerging growth company or (ii) affirmatively and irrevocably opts out of the extended transition period provided in the JOBS Act. As a result, these consolidated financial statements may not be comparable to companies that comply with the new or revised accounting pronouncements as of public company effective dates.

As described in “Recently Adopted Accounting Pronouncements” below, we early adopted multiple accounting standards, as the JOBS Act does not preclude an emerging growth company from adopting a new or revised accounting standard earlier than the time that such standard applies to private companies. We expect to use the extended transition period for any other new or revised accounting standards during the period in which we remain an emerging growth company.

Recent Accounting Pronouncements

Recently Adopted Accounting Pronouncements

ASU 2015-17 Income Taxes (Topic 740). In November 2015, the FASB issued ASU 2015-17 Income Taxes (Topic 740): Balance Sheet Classification of Deferred Taxes (“ASU 2015-17”), which simplifies the presentation of deferred taxes in a classified balance sheet by eliminating the requirement to separate deferred income tax liabilities and assets into current and noncurrent amounts. Instead, ASU 2015-17 requires that all deferred tax liabilities and assets be shown as noncurrent in a classified balance sheet. ASU 2015-17 is effective for fiscal years beginning after December 15, 2017 and may be applied either prospectively or retrospectively to all periods presented. We adopted this guidance on January 1, 2018. There is no impact to the consolidated balance sheets as of December 31, 2019 and December 31, 2018 because of the full valuation allowance position taken for deferred taxes.

ASU 2016-01 Recognition and Measurement of Financial Assets and Financial Liabilities. In January 2016, the FASB issued ASU 2016-01, which changes how companies recognize, measure, present and make disclosures about certain financial assets and financial liabilities. Under this guidance, entities have to measure equity investments (except those accounted for under the equity method, those that result in consolidation of the investee and certain other investments) at fair value and recognize any changes in fair value in net income. Entities can elect a measurement alternative for equity investments that do not have readily determinable fair values and do not qualify for the practical expedient in ASC 820 to estimate fair value using the net asset value per share (or its equivalent). ASU 2016-01 does not change the guidance for recognizing and measuring investments in debt securities. For public business entities, ASU 2016-01 is effective for financial statements issued for fiscal years beginning after December 15, 2017, and interim periods therein. For all other entities, ASU 2016-01 is effective for financial statements issued for fiscal years beginning after December 15, 2018, and interim periods within fiscal years beginning after December 15, 2019. We adopted this guidance for our fiscal year ending December 31, 2019. The adoption of ASU 2016-01 impacts how we account for our equity investments that do not qualify for equity method of accounting, that is, any unrealized change in fair value of these investments is recognized in our consolidated statements of operations.

ASU 2016-09 Stock Compensation—Improvements to Employee Share-Based Payment Accounting. In March 2016, the FASB issued ASU 2016-09, Stock Compensation—Improvements to Employee Share-Based Payment Accounting (“ASU 2016-09”). ASU 2016-09 was issued to simplify accounting guidance by identifying, evaluating, and improving areas for which cost and complexity can be reduced while maintaining or improving the usefulness of the information provided to users of financial statements. The areas affected by ASU 2016-09 include accounting for income taxes, classification of excess tax benefits in the statement of cash flows, minimum statutory tax withholding requirements, and classification of employee taxes paid in the statement of cash flows when an employer withholds shares for tax-withholding purposes. In addition, under this guidance, an entity can make an accounting policy election to either estimate the number of awards that are expected to vest or account for forfeitures when they occur. ASU 2016-09 is effective for fiscal years beginning after December 15, 2017 and should be applied using a retrospective transition method to each period presented. Early adoption is permitted. Upon early adoption of this guidance on January 1, 2016, we changed our policy to account for forfeitures as they occur. The adoption of this guidance did not materially impact our consolidated financial statements.

ASU 2016-15 Statement of Cash Flows (Topic 230) Classification of Certain Cash Receipts and Cash Payments. In August 2016, the FASB issued ASU 2016-15, Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments (“ASU 2016-15”). The areas affected by ASU 2016-15 are debt prepayment and debt extinguishment costs, settlement of zero-coupon debt instruments or other debt instruments with coupon interest rates that are insignificant in relation to the effective interest rate of the borrowing, contingent consideration payments made after a business combination, proceeds from the settlement of insurance claims, proceeds from the settlement of corporate-owned life insurance policies (including bank-owned life insurance policies), distributions received from equity method investees, beneficial interests in securitization transactions and separately identifiable cash flows and application of the predominance principle. Specifically, under this guidance, cash payments for debt prepayment or debt extinguishment costs will be classified as cash outflows for financing activities. The amendments in ASU 2016-15 are effective for fiscal years beginning after December 15, 2018 and interim periods within fiscal years beginning after December 15, 2019. Early adoption is permitted, including adoption in an interim period. If an entity early adopts the amendments in an interim period, any adjustments should be reflected as of the beginning of the fiscal year that includes that interim period. The adoption of this guidance did not materially impact our consolidated financial statements.

ASU 2016-16 Income Taxes: Intra-Entity Transfers of Assets Other Than Inventory. In October 2016, the FASB issued ASU 2016-16, Income Taxes: Intra-Entity Transfers of Assets Other Than Inventory. ASU 2016-16 will require the tax effects of intercompany transactions, other than sales of inventory, to be recognized currently, eliminating an exception under current GAAP in which the tax effects of intra-entity asset transfer are deferred until the transferred asset is sold to a third party or otherwise recovered through use. For public business entities, the guidance is effective for annual periods beginning after December 15, 2017, and interim periods within those annual periods. For all other entities, the guidance is effective for annual periods beginning after December 15, 2018, and interim periods within annual periods beginning after December 15, 2019. Early adoption is permitted for all entities as of the beginning of a fiscal year for which neither the annual or interim (if applicable) financial statements have been issued. If an entity chooses to early adopt the amendments in the ASU, it must do so in the first interim period of its annual financial statements (if the entity issues interim financial statements). That is, an entity cannot adopt the amendments in the ASU in a later interim period and apply them as if they were in effect as of the beginning of the year. The adoption of this guidance did not materially impact our consolidated financial statements.

ASU 2016-18 Statement of Cash Flows (Topic 230). In November 2016, the FASB issued ASU 2016-18 Statement of Cash Flows (Topic 230) Restricted Cash—a consensus of the FASB Emerging Issues Task Force (“ASU 2016-18”), which requires that amounts generally described as restricted cash and restricted cash equivalents should be included with cash and cash equivalents when reconciling the beginning-of-period and end-of-period total amounts shown in the statement of cash flows. ASU 2016-18 is effective for fiscal years beginning after December 15, 2018 and should be applied using a retrospective transition method to each period presented. Early adoption is permitted. We early adopted this guidance on January 1, 2017. The adoption of this guidance did not materially impact our consolidated financial statements.

ASU 2017-01 Business Combinations (Topic 805). In January 2017, the FASB issued ASU 2017-01, Business Combinations (Topic 805): Clarifying the Definition of a Business (“ASU 2017-01”). This ASU provides guidance to evaluate whether transactions should be accounted for as acquisitions (or disposals) of assets or businesses. If substantially all of the fair value of the gross assets acquired (or disposed of) is concentrated in a single asset or a group of similar assets, the assets acquired (or disposed of) are not considered a business. This guidance is effective for annual periods beginning after December 15, 2018, with early adoption permitted. We early adopted this guidance. As a result of applying this guidance, we accounted for our acquisition of PellePharm, Inc. in 2016 as an asset acquisition (see Note 8) and other asset acquisitions (see Note 12).

ASU 2017-09 Compensation—Stock Compensation (Topic 718). In May 2017, the FASB issued ASU 2017-09, Compensation—Stock Compensation (Topic 718): Scope of Modification Accounting (“ASU 2017-09”). This ASU provides guidance about which changes to the terms or conditions of a share-based payment award require an entity to apply modification accounting in Topic 718. The guidance is effective for annual and interim periods beginning after December 15, 2017, with early adoption permitted. We early adopted this guidance on January 1, 2016. The adoption of this guidance did not materially impact our consolidated financial statements.

ASU 2017-11 Earnings Per Share (Topic 260) Distinguishing Liabilities from Equity (Topic 480) Derivatives and Hedging (Topic 815). In July 2017, FASB issued a two-part ASU 2017-11, I. Accounting for Certain Financial Instruments with Down Round Features, and II. Replacement of the Indefinite Deferral for Mandatorily Redeemable Financial Instruments of Certain Nonpublic Entities and Certain Mandatorily Redeemable Noncontrolling Interests with a Scope Exception (“ASU 2017-11”). ASU 2017-11 amends guidance in ASC 260, Earnings Per Share , ASC 480, Distinguishing Liabilities from Equity, and ASC 815, Derivatives and Hedging. Part I of this ASU changes the classification analysis of certain equity-linked financial instruments (or embedded features) with down round features and clarifies existing disclosure requirements. Part II does not have an accounting effect. The standard is effective for fiscal years beginning after December 15, 2019 with early adoption permitted. We early adopted this guidance effective January 1, 2016. The adoption of this guidance did not materially impact our consolidated financial statements.

ASU 2018-07 Compensation-Stock Compensation (Topic 718). In June 2018, the FASB issued ASU No. 2018-07, Compensation-Stock Compensation (Topic 718): Improvements to Nonemployee Share-Based Payment Accounting (“ASU 2018-07”). ASU 2018-07 is intended to reduce the cost and complexity and to improve financial reporting for nonemployee share-based payments. The ASU expands the scope of Topic 718, (which currently only includes share-based payments to employees) to include share-based payments issued to non-employees for goods or services. Consequently, the accounting for share-based payments to non-employees and employees will be substantially aligned. The standard is effective for fiscal years beginning after December 15, 2019. Early adoption is permitted, but no earlier than a company’s adoption date of Topic 606. We early adopted this guidance effective January 1, 2017. The adoption of this guidance did not materially impact our consolidated financial statements.

Recently Issued Accounting Pronouncements Not Yet Adopted

ASU 2016-02 Leases (Topic 842). In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842) (“ASU 2016-02”), which, for operating leases, requires the lessee to recognize a right-of-use asset and a lease liability, initially measured at the present value of the lease payments, in its balance sheet. The guidance also requires a lessee to recognize single lease costs, calculated so that the cost of the lease is allocated over the lease term, generally on a straight-line basis. In July 2018, the FASB issued ASU 2018-10, Codification Improvements to Topic 842, Leases. Additionally, the FASB issued ASU 2018-11, Leases (Topic 842): Targeted Improvements, which offers a practical expedient for transitioning at the adoption date. ASU 2019-10, Financial Instruments — Credit Losses (Topic 326), Derivatives and Hedging (Topic 815), and Leases (Topic 842): Effective Dates, issued in November 2019, delayed the effective date of Topic 842 for companies like us to January 1, 2021 but early adoption is still permitted. We plan to adopt these ASUs on January 1, 2020 and we have chosen to use the practical expedient and recognize a cumulative-effect adjustment to the opening balance of the accumulated deficit. We also plan to apply other practical expedients provided by the standard. We have commenced the implementation of this new standard, including the identification of our lease population and the implementation of changes to our existing processes that will be required to implement the new lease standard. We believe that the most significant changes to the financial statements will relate to the recognition of right-of-use assets and offsetting lease liabilities in the consolidated balance sheet for operating leases. The impact on the consolidated balance sheet will be based on the population of operating leases at adoption, which we are still analyzing. However, we do not expect the standard to have a material impact on the consolidated statement of cash flows or the consolidated statement of operations.

ASU 2016-13 Financial Instruments - Credit Losses. In June 2016, the FASB issued ASU 2016-13, Financial Instruments - Credit Losses. This update requires immediate recognition of management’s estimates of current expected credit losses (“CECL”). Under the prior model, losses were recognized only as they were incurred. The new model is applicable to most financial assets and certain other instruments that are not measured at fair value through net income. The standard is effective for fiscal years beginning after December 15, 2019 for public entities. Early adoption is permitted. The delay in effective date for certain entities of ASU 2016-13 by the issuance of ASU 2019-10 in November 2019 does not apply to companies like us. We are currently assessing the impact of this update on our consolidated financial statements.

ASU 2018-13 Fair Value Measurement – Disclosure Framework (Topic 820). In August 2018, the FASB issued ASU 2018-13, Fair Value Measurement - Disclosure Framework (Topic 820) (“ASU 2018-13”). The updated guidance improves the disclosure requirements on fair value measurements and is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2019. Early adoption is permitted upon issuance of the standard for disclosures modified or removed with a delay of adoption of the additional disclosures until their effective date. We are currently assessing the impact of this update on our consolidated financial statements.

Organization and Description of Business

12 Months Ended

Dec. 31, 2019

Organization Consolidation And Presentation Of Financial Statements [Abstract]

Organization and Description of Business

1.	Organization and Description of Business

BridgeBio Pharma, Inc. (the “Corporation”) was formed as a Delaware corporation on May 17, 2019 for the purpose of completing an initial public offering of the Corporation’s common stock (the “IPO”) and related organizational transactions (the “Reorganization”) in order to carry on the business of BridgeBio Pharma LLC (“BBP LLC”). The Corporation, the reporting entity in these consolidated financial statements, and BBP LLC, the predecessor reporting entity before the completion of the Reorganization and the Corporation’s wholly-owned subsidiary after the completion of the Reorganization, are collectively referred to as BridgeBio.

Since inception, BridgeBio has either created wholly-owned subsidiaries or has made investments in certain controlled entities, including partially-owned subsidiaries for which BridgeBio has a majority voting interest and variable interest entities (“VIEs”) for which BridgeBio is the primary beneficiary (collectively, “we”, “our”, “us”). BridgeBio is headquartered in Palo Alto, California.

BridgeBio was established to identify and advance transformative medicines to treat patients who suffer from Mendelian diseases, which are diseases that arise from defects in a single gene, and cancers with clear genetic drivers. BridgeBio’s pipeline of programs spans early discovery to late-stage development.

Reorganization and Initial Public Offering

On July 1, 2019, the Corporation closed the IPO of its common stock. As part of the IPO, the Corporation issued and sold 23,575,000 shares of its common stock, which included 3,075,000 shares sold pursuant to the exercise of the underwriters’ over-allotment option, at a public offering price of $17.00 per share. The Corporation received net proceeds of approximately $366.2 million from the IPO, after deducting underwriters’ discounts and commissions of $28.1 million and offering costs of $6.5 million.

Upon the closing of the IPO on July 1, 2019, BridgeBio completed the Reorganization, whereby all unitholders of BBP LLC exchanged their units for shares of common stock of the Corporation, and BBP LLC became a wholly-owned subsidiary of the Corporation. Subsequent to the Reorganization, as the sole managing member, the Corporation operates and controls all of BBP LLC’s businesses and affairs. See Note 3 for additional details.

The results of operations and cash flows prior to the IPO closing on July 1, 2019 relate to BBP LLC, its subsidiaries and controlled entities. Subsequent to the IPO closing, the information relates to the Corporation, its subsidiaries and controlled entities. All share and per share amounts in these consolidated financial statements and related notes have been retroactively adjusted, where applicable, for all periods presented to give effect to the exchange ratio applied in connection with the Reorganization. See Note 3 for additional details.

Reorganization

12 Months Ended

Dec. 31, 2019

Reorganizations [Abstract]

Reorganization

3.	Reorganization

On June 13, 2019, the Corporation formed BridgeBio Pharma Merger Sub LLC (“Merger Sub LLC”), a Delaware limited liability company and direct wholly-owned subsidiary. The Reorganization was executed on July 1, 2019, immediately prior to completion of the IPO of the Corporation’s common stock. As part of the Reorganization, the existing ownership interest in BBP LLC held by all BBP LLC unitholders was transferred to Merger Sub LLC, and all outstanding units of BBP LLC were cancelled and exchanged for shares of common stock of the Corporation. Merger Sub LLC was then merged with and into BBP LLC, the surviving entity, which became a wholly-owned subsidiary of the Corporation. At the conclusion of the Reorganization, the Corporation became the reporting entity.

The number of shares of the Corporation’s common stock issued to BBP LLC unitholders in the Reorganization is shown in the below table by unit class:

BBP LLC unit class	Number of the Corporation's Shares Issued
Series D Preferred Units		30,459,426
Series C Preferred Units		31,992,709
Series B Preferred Units		17,794,455
Series A Preferred Units		4,918,881
Founder Units		2,252,916
Common Units		1,794,823
Management Incentive Units		10,786,757
Total shares issued		99,999,967

Included in the amounts above, the unvested outstanding management incentive units and common units of BBP LLC were exchanged for 6,819,455 shares of the Corporation’s unvested restricted stock, subject to the same time-based vesting conditions as the original management incentive units and common units terms and conditions. See Note 16 for additional details.

The Reorganization was accounted for as a reverse acquisition and recapitalization for financial reporting purposes. The assets and liabilities of the Corporation, the legal acquirer, were nominal and there were no material pre-combination activities. Therefore, BBP LLC, the legal acquiree, was determined to be the accounting acquirer. Accordingly, the historical financial statements of BBP LLC became the Corporation’s historical financial statements, including the comparative prior periods. All share and per share amounts in these consolidated financial statements and related notes have been retroactively adjusted, where applicable, for all periods presented. The shares of the Corporation’s common stock for periods prior to July 1, 2019 represent the outstanding BBP LLC units recalculated to give effect to the exchange ratio applied in connection with the Reorganization.

All BBP LLC units that were previously reported as temporary equity and were converted to common stock of the Corporation upon the execution of the Reorganization, have been reclassified to equity for all periods presented, as if the Reorganization occurred at the beginning of the earliest period presented in our financial statements for the year ending December 31, 2019, as follows:

	December 31, 2018
	As Reported			Adjustment			As Adjusted
	(in thousands)
Redeemable convertible preferred units	$	478,865		$	(478,865	)	$	—
Redeemable founder units		1,754			(1,754	)		—
Redeemable common units		1,619			(1,619	)		—
Management incentive units		3,221			(3,221	)		—
Redeemable convertible noncontrolling interests		122			—			122
Stockholders' equity (Members’ deficit):
Undesignated preferred stock		—			—			—
Common stock		—			92			92
Additional paid-in capital		—			494,231			494,231
Accumulated deficit		(170,580	)		(8,864	)		(179,444	)
Total BridgeBio stockholders' equity (Members' deficit)		(170,580	)		485,459			314,879
Noncontrolling interests		62,361			—			62,361
Total stockholders' equity (Members' deficit)	$	(108,219	)	$	485,459		$	377,240

	December 31, 2017
	As Reported			Adjustment			As Adjusted
	(in thousands)
Redeemable convertible preferred units	$	143,867		$	(143,867	)	$	—
Redeemable founder units		1,754			(1,754	)		—
Redeemable common units		1,431			(1,431	)		—
Management incentive units		226			(226	)		—
Redeemable convertible noncontrolling interests		833			—			833
Stockholders' equity (Members’ deficit):
Undesignated preferred stock		—			—			—
Common stock		—			51			51
Additional paid-in capital		—			134,495			134,495
Accumulated deficit		(61,427	)		12,732			(48,695	)
Total BridgeBio stockholders' equity (Members' deficit)		(61,427	)		147,278			85,851
Noncontrolling interests		2,498			—			2,498
Total stockholders' equity (Members' deficit)	$	(58,929	)	$	147,278		$	88,349

	December 31, 2016
	As Reported			Adjustment			As Adjusted
	(in thousands)
Redeemable convertible preferred units	$	31,280		$	(31,280	)	$	—
Redeemable founder units		1,124			(1,124	)		—
Redeemable common units		589			(589	)		—
Management incentive units		26			(26	)		—
Redeemable convertible noncontrolling interests		1,520			—			1,520
Stockholders' equity (Members’ deficit):
Undesignated preferred stock		—			—			—
Common stock		—			21			21
Additional paid-in capital		—			32,998			32,998
Accumulated deficit		(18,130	)		—			(18,130	)
Total BridgeBio stockholders' equity (Members' deficit)		(18,130	)		33,019			14,889
Noncontrolling interests		2,595			—			2,595
Total stockholders' equity (Members' deficit)	$	(15,535	)	$	33,019		$	17,484

Noncontrolling Interests - Schedule of Redeemable Convertible Noncontrolling Interests Balance (Details) - USD ($)
$ in Thousands

12 Months Ended

Dec. 31, 2019

Dec. 31, 2018

Dec. 31, 2017

Redeemable Noncontrolling Interest [Line Items]

Transfers to (from) and conversion ofnoncontrolling interest:

$ 122

Redeemable Convertible Noncontrolling Interests

2,243

$ 122

Redeemable Noncontrolling Interest [Line Items]

Issuance of redeemable convertible noncontrolling interest

^[1]

122

833

$ 1,520

3,196

62,363

2,839

Net loss attributable to redeemable convertible noncontrolling interest

(2,878)

(12,530)

(2,757)

Deconsolidation of PellePharm

1,154

Transfers to (from) and conversion ofnoncontrolling interest:

Temporary Equity, transfers to (from) and conversion of noncontrolling interest

1,803

(51,698)

(769)

Transfers to (from) redeemable convertible noncontrolling interest

(39,446)

Conversion of redeemable convertible noncontrolling interest to noncontrolling interest

(12,252)

Redeemable Convertible Noncontrolling Interests | Orfan Biotech, Inc

2,243

122

^[1]

833

^[1]

Redeemable Noncontrolling Interest [Line Items]

Issuance of redeemable convertible noncontrolling interest

187

Net loss attributable to redeemable convertible noncontrolling interest

(120)

(263)

Transfers to (from) and conversion ofnoncontrolling interest:

Temporary Equity, transfers to (from) and conversion of noncontrolling interest

186

Transfers to (from) redeemable convertible noncontrolling interest

Redeemable Convertible Noncontrolling Interests | QED Therapeutics, Inc

Redeemable Noncontrolling Interest [Line Items]

Issuance of redeemable convertible noncontrolling interest

114

1,735

Net loss attributable to redeemable convertible noncontrolling interest

(2,168)

(4,675)

Transfers to (from) and conversion ofnoncontrolling interest:

Temporary Equity, transfers to (from) and conversion of noncontrolling interest

2,666

Transfers to (from) redeemable convertible noncontrolling interest

3,054

Redeemable Convertible Noncontrolling Interests | ML Bio

612

114

Redeemable Noncontrolling Interest [Line Items]

Issuance of redeemable convertible noncontrolling interest

3,196

Net loss attributable to redeemable convertible noncontrolling interest

(590)

Transfers to (from) and conversion ofnoncontrolling interest:

Temporary Equity, transfers to (from) and conversion of noncontrolling interest

(1,049)

Redeemable Convertible Noncontrolling Interests | Eidos

$ 1,557

Redeemable Noncontrolling Interest [Line Items]

Issuance of redeemable convertible noncontrolling interest

51,012

Net loss attributable to redeemable convertible noncontrolling interest

(1,411)

(27)

Transfers to (from) and conversion ofnoncontrolling interest:

Temporary Equity, transfers to (from) and conversion of noncontrolling interest

Transfers to (from) redeemable convertible noncontrolling interest

(37,354)

Conversion of redeemable convertible noncontrolling interest to noncontrolling interest

(12,252)

Redeemable Convertible Noncontrolling Interests | PellePharm, Inc

Redeemable Noncontrolling Interest [Line Items]

Issuance of redeemable convertible noncontrolling interest

828

1,514

9,429

2,839

Net loss attributable to redeemable convertible noncontrolling interest

(6,181)

(2,730)

Deconsolidation of PellePharm

1,154

Transfers to (from) and conversion ofnoncontrolling interest:

Temporary Equity, transfers to (from) and conversion of noncontrolling interest

(795)

Transfers to (from) redeemable convertible noncontrolling interest

$ (5,230)