0001564590-21-008969 | 10-K | XBRL Viewer

2019 Reorganization and IPO and 2020 Shelf Registration (Tables)

12 Months Ended

Dec. 31, 2020

Summary of Number of Shares of Common Stock Issued to BBP LLC Unitholders in Reorganization

The number of shares of BridgeBio’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 BridgeBio'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

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Current assets:
Cash and cash equivalents	$ 356,082	$ 363,773
Short-term marketable securities	251,011	182,220
Receivable from a related party		2,845
Prepaid expenses and other current assets	35,731	19,784
Total current assets	642,824	568,622
Property and equipment, net	20,325	5,625
Operating lease right-of-use assets, net	16,508
Long-term marketable securities		31,144
Other assets	23,931	26,288
Total assets	703,588	631,679
Current liabilities:
Accounts payable	8,945	8,852
Accrued compensation and benefits	29,682	13,317
Accrued research and development liabilities	27,290	20,896
Accrued professional services	5,579	2,222
LEO call option liability	5,550	4,078
Build-to-suit lease obligation		8,000
Operating lease liabilities, current portion	3,795
Term loans, current portion	1,458
Other accrued liabilities	13,349	3,020
Total current liabilities	95,648	60,385
Term loans, net of current portion	92,421	91,791
2027 Notes, net	383,436
Operating lease liabilities, net of current portion	14,677
Other liabilities	9,520	3,527
Total liabilities	595,702	155,703
Commitments and contingencies (Note 9)
Redeemable convertible noncontrolling interests	1,630	2,243
Stockholders’ equity:
Undesignated preferred stock, $0.001 par value; 25,000,000 shares authorized; no shares issued and outstanding
Common stock, $0.001 par value; 500,000,000 shares authorized; 125,264,070 shares issued and 122,849,389 shares outstanding as of December 31, 2020, 123,658,287 shares issued and outstanding as of December 31, 2019	125	124
Treasury stock, at cost; 2,414,681 shares as of December 31, 2020, nil as of December 31, 2019	(75,000)
Additional paid-in capital	1,021,344	848,107
Accumulated other comprehensive income	192	254
Accumulated deficit	(888,755)	(440,031)
Total BridgeBio stockholders’ equity	57,906	408,454
Noncontrolling interests	48,350	65,279
Total stockholders’ equity	106,256	473,733
Total liabilities, redeemable convertible noncontrolling interests and stockholders’ equity	$ 703,588	$ 631,679

Consolidated Statements of Comprehensive Loss - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Statement Of Income And Comprehensive Income [Abstract]
Net loss	$ (505,488)	$ (288,585)	$ (169,451)
Other comprehensive income (loss):
Unrealized gain (loss) on available-for-sale securities	(62)	254
Comprehensive loss	(505,550)	(288,331)	(169,451)
Comprehensive loss attributable to redeemable convertible noncontrolling interests and noncontrolling interests	56,764	27,998	38,702
Comprehensive loss attributable to common stockholders of BridgeBio	$ (448,786)	$ (260,333)	$ (130,749)

- Definition

Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income (loss) and other comprehensive income (loss), attributable to noncontrolling interests. Excludes changes in equity resulting from investments by owners and distributions to owners.

+ References + Details

- Definition

Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income and other comprehensive income. Excludes changes in equity resulting from investments by owners and distributions to owners.

+ References + Details

- Definition

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

+ References

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+ Details

Equity Method and Other Investments in Equity Method Investees - Schedule of Amounts Related to Deconsolidation Accounting (Details) - USD ($) $ in Thousands		12 Months Ended
	Nov. 19, 2018	Dec. 31, 2018
Schedule Of Equity Method 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 Equity Method 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 - Additional Information (Details)						1 Months Ended					12 Months Ended
	Nov. 18, 2020 USD ($) Grantee shares	Jun. 02, 2020 shares	Apr. 22, 2020 USD ($) Grantee shares	Jun. 25, 2019 shares	Jun. 22, 2019 shares	Dec. 31, 2019 shares	Dec. 31, 2018 shares	May 31, 2018 shares	Dec. 31, 2017 USD ($) shares	Apr. 30, 2016	Dec. 31, 2020 USD ($) $ / shares shares	Dec. 31, 2019 USD ($) $ / shares shares	Dec. 31, 2018 USD ($) $ / shares	Nov. 13, 2019 shares
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock-based compensation \| $											$ 58,459,000	$ 21,374,000	$ 6,067,000
Eidos
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock-based compensation \| $											10,902,000	5,373,000	2,526,000
Intrinsic value of options exercised \| $											28,000,000.0	12,300,000	900,000
Fair value of shares vested \| $											$ 11,700,000	5,200,000	2,500,000
Weighted-average fair value of stock-based awards granted \| $ / shares											$ 28.95
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
Common shares reserved for future issuance											3,123,169
Stock-based compensation \| $											$ 1,000,000.0	$ 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
Weighted-average fair value of stock-based awards granted \| $ / shares											$ 10.48	$ 5.51
Maximum \| 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
2020 Stock and Equity Award Exchange Program
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Maximum potential milestone performance-based awards to be settled in shares \| $	$ 11,700,000		$ 183,400,000
Performance-based milestone awards \| $	$ 0		$ 17,400,000								$ 11,100,000
performance-based milestone awards compensation recognized \| $											$ 9,600,000	$ 0
2020 Stock and Equity Award Exchange Program \| Minimum
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Performance-based milestone awards period for recognition			8 months 12 days								10 months 24 days
2020 Stock and Equity Award Exchange Program \| Maximum
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Performance-based milestone awards period for recognition			1 year 8 months 12 days								2 years 10 months 24 days
Employee Stock Options
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Weighted-average fair value of stock-based awards granted \| $ / shares											$ 11.29	$ 7.81
Employee Stock Options \| 2020 Stock and Equity Award Exchange Program
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of options issued in exchange of subsidiary equity	70,436		1,268,110
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 of subsidiary						170,866					73,230	170,866
Share-based compensation (benefit) expense \| $											$ 0	$ 0	0
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
Restricted Stock Awards \| 2020 Stock and Equity Award Exchange Program
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of RSAs issued in exchange of subsidiary equity			50,145
Performance based milestone awards compensation expense settled with equity \| $											$ 2,000,000.0
Performance based milestone awards number of shares settled for compensation expense											73,248
Performance-Based RSAs \| 2020 Stock and Equity Award Exchange Program
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of Performance-Based RSAs issued in exchange of subsidiary equity			22,611
Performance-Based Stock Options \| 2020 Stock and Equity Award Exchange Program
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of Performance-Based stock options issued in exchange of subsidiary equity	10,772
Market Based Restricted Stock Units
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting period											3 years
Stock-based compensation \| $											$ 1,000,000.0	$ 2,300,000
Unvested shares of restricted stock outstanding						129,871					2,380	129,871
Shares forfeited											53,234
Award market capitalization value \| $											$ 5,000,000,000.0
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
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 \| Minimum \| BBP LLC
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting period											2 years
Management Incentive Units and Common Units \| Maximum \| BBP LLC
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting period											5 years
Employee Stock Options Valuation \| Eidos
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Weighted-average fair value of stock-based awards granted \| $ / shares												$ 22.86	$ 8.46
A&R 2019 Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Increase in common stock reserved for issuance		2,500,000
Percentage of increase in number of shares reserved and available for issuance in proportion to common stock outstanding				5.00%
Common shares reserved for future issuance											3,820,622
A&R 2019 Plan \| 2020 Stock and Equity Award Exchange Program
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of grantees \| Grantee	16		149
Number of shares issued in exchange of subsidiary equity	24,924		554,064
2019 Inducement Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Common shares reserved for future issuance											204,664
A&R 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 \| $											$ 15,600,000	$ 3,900,000
Unrecognized compensation cost \| $											$ 43,800,000
Unrecognized compensation cost, period for recognition											2 years 7 months 6 days
A&R 2019 Plan and 2019 Inducement Plan \| Restricted Stock Awards
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock-based compensation \| $											$ 10,700,000	$ 4,200,000
Unrecognized compensation cost, period for recognition											2 years 9 months 18 days
Unrecognized compensation cost \| $											$ 16,500,000
Unvested shares of restricted stock outstanding						5,603,452					3,364,366	5,603,452
A&R 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 \| $											$ 7,400,000	$ 200,000
Unrecognized compensation cost, period for recognition											3 years 2 months 12 days
Unrecognized compensation cost \| $											$ 32,800,000
Unvested shares of restricted stock outstanding						362,163					1,053,838	362,163
Shares forfeited											239,680
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]
Common shares reserved for future issuance								598,000			2,798,000
Vesting percentage								25.00%
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]
Common shares reserved for future issuance								143,520
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%
Eidos 2016 and 2018 Plans
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Unrecognized compensation cost, period for recognition											2 years 9 months 18 days
Unrecognized stock-based compensation cost related to unvested stock \| $											$ 24,900,000
Common Stock \| A&R 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										1,000,000

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Operating activities:
Net loss	$ (505,488)	$ (288,585)	$ (169,451)
Adjustments to reconcile net loss to net cash used in operating activities:
Stock-based compensation	58,459	21,374	6,067
Amortization of operating lease right-of-use assets	3,088
Gain on deconsolidation of PellePharm			(19,327)
Share in net loss of equity method investments		20,869	275
Change in fair value of LianBio Warrants	(3,338)
Fair value of equity method investment		(3,819)
Fair value of shares issued under license agreements	6,014	220	190
Accretion of 2027 Notes and term loans	17,737	1,509	783
Acquired in-process research and development assets	4,727	3,560	17,922
LEO call option expense	1,472	1,069	3,009
Change in fair value of Eidos financial instruments			1,146
Other noncash adjustments	2,681	1,131	252
Changes in operating assets and liabilities:
Receivable from a related party	2,845	(2,845)
Prepaid expenses and other current assets	(7,059)	(10,647)	(6,100)
Other assets	(2,146)	(16,929)	(843)
Accounts payable	(735)	(4,657)	16,700
Accrued compensation and benefits	8,589	9,270	3,396
Accrued research and development liabilities	6,170	11,981	5,785
Accrued professional services	2,407	1,450	454
Operating lease liabilities	(3,472)
Other accrued and other liabilities	8,335	1,462	3,099
Net cash used in operating activities	(399,714)	(253,587)	(136,643)
Investing activities
Purchases of marketable securities	(287,852)	(212,899)
Maturities of marketable securities	249,137
Payments of merger transaction costs	(6,907)
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
Proceeds from disposal of property and equipment	147
Purchases of property and equipment	(7,518)	(2,638)	(2,178)
Net cash used in investing activities	(52,993)	(217,253)	(21,036)
Financing activities
Proceeds from issuance of common stock in connection with the initial public offering of BridgeBio in 2019 and Eidos in 2018, net of underwriting discounts and commissions		366,237	95,536
Proceeds from issuance of 2027 Notes	550,000
Issuance costs and discounts associated with issuance of 2027 Notes	(13,039)
Purchase of capped calls	(49,280)
Repurchase of common stock	(75,000)
Proceeds from issuance of noncontrolling interest to Alexion		23,309
Proceeds from issuance of promissory notes			1,000
Proceeds from repayment of nonrecourse notes		179
Proceeds from term loans, net of issuance costs		36,939	56,438
Proceeds from at-the-market issuance of noncontrolling interest by Eidos	24,094	23,927
Proceeds from the issuance of redeemable convertible preferred units, net of issuance costs			334,998
Proceeds from issuance of redeemable convertible noncontrolling interests to third-party investors	2,000	1,500	58,430
Proceeds from repayment of the loans received by noncontrolling interest shareholder			37
MyoKardia distributions		(997)
Repurchase of noncontrolling interest	(5,000)	(55,011)	(44,234)
Repayment of term loans			(1,097)
Proceeds from BridgeBio common stock issuances under ESPP	1,205	921
Repurchase of shares to satisfy tax withholding	(714)
Proceeds from stock option exercises, net of repurchases	12,923	1,788	440
Net cash provided by financing activities	447,189	398,792	501,548
Net (decrease) increase in cash, cash equivalents and restricted cash	(5,518)	(72,048)	343,869
Cash, cash equivalents and restricted cash at beginning of period	364,197	436,245	92,376
Cash, cash equivalents and restricted cash at end of period	358,679	364,197	436,245
Supplemental Disclosures of Cash Flow Information:
Cash paid for interest	15,322	6,092	1,574
Supplemental Disclosures of Non-Cash Investing and Financing Information:
Deferred merger transaction costs included in accounts payable and accrued professional services	1,842
Tenant improvement paid by landlord		2,097
Transfers (from) to noncontrolling interest (Note 6)	12,034	(28,635)	21,596
Recognition of property and equipment previously classified in other assets	10,000
Non-cash contribution by a noncontrolling interest	4,727
Unpaid property and equipment	$ 1,101
Build-to-suit funding liability accrual (Note 13)		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
Fair value of redeemable convertible noncontrolling interest issued for acquired in-process research and development assets			$ 1,922

Leases - Schedule of Supplemental Information Related to Remaining Lease Term and Discount Rate (Details)	Dec. 31, 2020
Weighted-average remaining lease term (in years)
Operating leases	5 years 1 month 6 days
Finance lease	5 years 1 month 6 days
Weighted-average discount rate
Operating leases	6.24%
Finance lease	6.62%

Stock-Based Compensation - Schedule of Assumptions Used to Determine Fair Value of Stock Options and Stock Purchase Rights under ESPP (Details) - $ / shares	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Employee Stock Options
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Expected volatility, Minimum	36.30%	36.40%
Expected volatility, Maximum	46.40%	37.50%
Risk-free interest rate, Minimum	0.31%	1.69%
Risk-free interest rate, Maximum	1.50%	1.86%
Weighted-average fair value of stock-based awards granted	$ 11.29	$ 7.81
Minimum \| Employee Stock Options
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Expected term (in years)	5 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	6 years 29 days
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%
Expected volatility, Minimum	32.50%
Expected volatility, Maximum	47.60%
Risk-free interest rate		2.12%
Risk-free interest rate, Minimum	0.13%
Risk-free interest rate, Maximum	1.57%
Weighted-average fair value of stock-based awards granted	$ 10.48	$ 5.51
Employee Stock Purchase Plan \| Minimum
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Expected term (in years)	4 months 24 days
Employee Stock Purchase Plan \| Maximum
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Expected term (in years)	7 months 24 days

Voting Interest Model - Additional Information (Details) - USD ($)		1 Months Ended									12 Months Ended	30 Months Ended
	Oct. 05, 2020	Feb. 29, 2020	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, 2020	Aug. 02, 2019
Variable Interest Entity [Line Items]
Noncontrolling interests											$ 65,279,000	$ 48,350,000
Maximum aggregate offering price of stocks											$ 124,000	$ 125,000
Merger Agreement
Variable Interest Entity [Line Items]
Termination fee	$ 100,000,000.0
Variable Interest Entity, Primary Beneficiary \| Eidos
Variable Interest Entity [Line Items]
Convertible promissory note, principal amount									$ 10,000,000.0
Preferred stock, value									$ 4,000,000.0
Ownership percentage transferred to minority stockholder								10.00%
Noncontrolling interests								$ 1,000,000.0
Percentage of discount at redemption								30.00%
Variable Interest Entity, Primary Beneficiary \| Eidos
Variable Interest Entity [Line Items]
Investments										$ 1,000,000.0
Contributions							$ 11,200,000
Common stock, value				$ 26,400,000	$ 28,600,000	$ 17,000,000.0
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		448,755									385,613
Percentage of cash commission													3.00%
Net proceeds issued from offerings		$ 24,100,000									$ 23,900,000
Variable Interest Entity, Primary Beneficiary \| Eidos \| Market Sales Agreement \| Maximum
Variable Interest Entity [Line Items]
Maximum aggregate offering price of stocks													$ 100,000,000.0
Variable Interest Entity, Primary Beneficiary \| Eidos \| Common Stock
Variable Interest Entity [Line Items]
Shares issued			556,173
Eidos \| Merger Agreement
Variable Interest Entity [Line Items]
Right to receive of common stock	1.85
Cash per share in transaction	$ 73.26
Description of aggregate voting stock approval	approval of at least 66 and 2/3% of the aggregate voting stock (as defined in Section 203 of the Delaware General Corporation Law (the “DGCL”)) of Eidos that is not owned (as defined in Section 203 of the DGCL) by BridgeBio, Merger Sub, Merger Sub II or any of their respective affiliates or associates (as such terms are defined in Section 203 of the DGCL);
Minimum required voting stock percentage for approval	66.00%
Aggregate voting stock percentage	36.00%
Potential termination fee	$ 35,000,000.0
Eidos \| Maximum \| Merger Agreement
Variable Interest Entity [Line Items]
Cash consideration	175,000,000.0
Eidos \| Minimum \| Merger Agreement
Variable Interest Entity [Line Items]
Cash consideration	$ 0

Equity Method and Other Investments in Equity Method Investees

12 Months Ended

Dec. 31, 2020

Equity Method And Cost Method Investment [Abstract]

Equity Method and Other Investments in Equity Method Investees

7.	Equity Method and Other Investments in Equity Method Investees

LianBio

LianBio, a related party, is a clinical-stage biopharmaceutical company founded by Perceptive Advisors. LianBio is focused on sourcing the best opportunities and creating new therapeutic paradigms for first-in-class programs to bring the world’s leading science to China and major Asian markets. In October 2019, BBP LLC entered into an exclusivity agreement with LianBio, pursuant to which BBP LLC received equity in LianBio representing a 10% ownership interest, valued at approximately $3.8 million at the time of the transaction and recognized as license revenue for the year ended December 31, 2019 (see Note 11). The equity interest was issued in consideration for certain rights of first negotiation and rights of first offer granted by BBP LLC to LianBio 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. The amount of our 10% ownership interest was reduced to zero as of December 31, 2019 after recognizing our equity share in the net losses of LianBio for the year ended December 31, 2019. The carrying amount of the investment in LianBio in the consolidated balance sheets represents our maximum loss exposure related to its investment in LianBio. There have been no impairments related to the LianBio investment.

PellePharm

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. We did not recognize an impairment related to our PellePharm investment during the years ended December 31, 2020, 2019 and 2018.

Leases - Components of Lease Cost (Details) $ in Thousands	12 Months Ended
Leases - Components of Lease Cost (Details) $ in Thousands	Dec. 31, 2020 USD ($)
Leases [Abstract]
Straight line operating lease costs	$ 3,786
Interest on finance lease liability	9
Variable lease costs	832
Total lease cost	$ 4,627

Stock-Based Compensation - Summary of Fair Value of Employee Eidos Stock Options Granted (Details) - Eidos	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Expected term (in years)	6 years 21 days
Expected volatility	72.10%
Risk-free interest rate	0.52%
Employee Stock Options Valuation
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Expected term (in years)		6 years 25 days	6 years 29 days
Expected volatility		72.40%	72.00%
Risk-free interest rate		1.95%	2.87%

Income Taxes - Reconciliation of Unrecognized Tax Benefits (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Income Tax Disclosure [Abstract]
Balance at the beginning of the year	$ 7,604	$ 1,182
Additions (reductions) of prior year positions	(224)	2,913
Additions based on tax positions related to current year	5,144	3,509
Balance at the end of the year	$ 12,524	$ 7,604

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
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Expected term (in years)	1 year 6 months
Expected volatility, Minimum	48.00%	40.00%
Expected volatility, Maximum	49.00%	49.00%
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

Asset Acquisitions - Additional Information (Details) - USD ($)	1 Months Ended		12 Months Ended
	Jun. 30, 2018	Jan. 31, 2018	Dec. 31, 2018
Origin Biosciences, Inc.
Business Acquisition Equity Interests Issued Or Issuable [Line Items]
Asset acquisition cash payment	$ 1,000,000.0
Origin Biosciences, Inc. \| Maximum
Business Acquisition Equity Interests Issued Or Issuable [Line Items]
Assets acquisition required milestone payments			$ 18,800,000
Regulatory milestone payments			3,000,000.0
Sales milestone payments			17,000,000.0
Origin Biosciences, Inc. \| In Process Research and Development
Business Acquisition Equity Interests Issued Or Issuable [Line Items]
Fair value of assets acquired			1,000,000.0
QED Therapeutics, Inc
Business Acquisition Equity Interests Issued Or Issuable [Line Items]
Asset acquisition cash payment		$ 15,000,000.0
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
QED Therapeutics, Inc \| Maximum
Business Acquisition Equity Interests Issued Or Issuable [Line Items]
Regulatory milestone payments			60,000,000.0
Sales milestone payments			35,000,000.0
QED Therapeutics, Inc \| In Process Research and Development
Business Acquisition Equity Interests Issued Or Issuable [Line Items]
Fair value of assets acquired			$ 16,700,000

Leases - Schedule of Future Minimum Lease Payments for Noncancelable Operating Leases under ASC 840 (Details) $ in Thousands	Dec. 31, 2019 USD ($)
Leases [Abstract]
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

Income Taxes

12 Months Ended

Dec. 31, 2020

Income Tax Disclosure [Abstract]

Income Taxes

16.	Income Taxes

Upon the 2019 Reorganization, BridgeBio is subject to U.S. federal and state income taxes as a corporation. Prior to the 2019 Reorganization, which was 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,
	2020		2019		2018
	(in thousands)
Domestic	$	505,488	$	288,585	$	169,451
Foreign		—		—		—
Total loss before income taxes	$	505,488	$	288,585	$	169,451

There was no current or deferred income tax expense or benefit (domestic and foreign) for the years ended December 31, 2020, 2019 and 2018.

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

	Year ended December 31,
	2020				2019				2018
Tax at statutory federal rate		21.0		%		21.0		%		21.0		%
Change in valuation allowance		(25.0	)			(25.3	)			(20.2	)
Research and development credits		3.3				4.1				1.6
Stock-based compensation		1.0				—				—
Change in entity status		—				1.7				—
Nontaxable partnership income		—				(1.4	)			(1.2	)
Other		(0.3	)			(0.1	)			(1.2	)
Effective income tax rate		—		%		—		%		—		%

Significant components of our deferred tax assets and liabilities are as follows:

	December 31,
	2020			2019
	(in thousands)
Deferred tax assets:
Net operating loss carry-forwards	$	191,308		$	94,335
Amortization		7,427			5,196
Accruals and reserves		5,707			1,917
Stock-based compensation		5,471			1,820
Tax credits		37,964			18,443
Equity method investment		7,608			7,297
Lease liabilities		3,932			—
Other		613			210
Gross deferred tax assets		260,030			129,218
Less valuation allowance		(224,452	)		(128,928	)
Deferred tax assets, net of valuation allowance		35,578			290
Deferred tax liabilities:
Fixed assets		(221	)		(290	)
Right-of-use assets		(3,514	)		—
Debt		(32,938	)		—
Deferred tax liabilities		(36,673	)		(290	)
Net deferred tax assets (liabilities)	$	(1,095	)	$	—

As of December 31, 2020, we have net operating loss carryforwards available to reduce future taxable income, if any, for federal and state income tax purposes of approximately $852.5 million and $177.9 million, respectively. The federal net operating losses generated prior to 2018 amounting to $31.8 million will begin to expire in 2036, losses generated after 2018 amounting to $820.7 million will carry over indefinitely and would be subject to an 80% taxable income limitation in the year utilized. State net operating losses will generally begin to expire in 2036.

As of December 31, 2020, we had federal research and development and orphan drug credit carryforwards of $41.0 million, which will expire beginning in 2037 if not utilized. As of December 31, 2020, we have California and other state research and development tax credit carryforwards of $6.3 million. The state research and development tax credits will expire at various dates while the California research and development tax credits will carry over indefinitely.

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. As a

result of the issuance of our 2027 Notes in 2020, it was determined that our existing deferred tax assets do not fully offset the deferred tax liabilities when reviewing the reversals of temporary differences. This resulted in a deferred tax liability of $1.1 million that was recognized for the year ended December 31, 2020. The valuation allowance increased by $95.5 million and $79.2 million for the years ended December 31, 2020 and 2019, respectively.

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,
	2020			2019
	(in thousands)
Balance at the beginning of the year	$	7,604		$	1,182
Additions (reductions) of prior year positions		(224	)		2,913
Additions based on tax positions related to current year		5,144			3,509
Balance at the end of the year	$	12,524		$	7,604

As of December 31, 2020 and 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 valuation allowance on our deferred tax assets.

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.

On March 27, 2020, the Coronavirus Aid, Relief and Economic Security Act (the “CARES Act”) was signed into law. The CARES Act includes income tax provisions relating to net operating loss carryback periods, alternative minimum tax credit refunds, modifications to the net interest deduction limitations and technical corrections to tax depreciation methods for qualified improvement property. The CARES Act also allowed for the deferral of employer payroll taxes, which we have done and the liability is accounted for in our consolidated financial statement. The provisions of the CARES Act did not have a material impact on our financial statements.

On June 29, 2020, the Governor of California signed Assembly Bill (“AB”) 85 suspending California net operating loss (“NOL”) utilization and imposing a cap on the amount of business incentive tax credits that companies can utilize, effective for tax years 2020, 2021 and 2022. AB 85 will not impact our income tax provisions as we are in taxable loss position.

On December 27, 2020, the Consolidated Appropriations Act of 2021 (“CAA”), a tax, funding and spending bill was signed into law. We have reviewed the legislation and we do not believe the CAA will materially impact our 2020 income tax provision.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References + Details

Fair Value Measurements - Schedule of Estimated Fair Value of Liability (Details) - LEO Call Option	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Minimum
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]
Expected term (in years)	1 year 3 months	8 months 1 day
Maximum
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]
Expected term (in years)	6 years 3 months	5 years 3 months
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	0.1	1.6
Discount Rate \| Maximum
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]
Measurement input	14.3	13.1
Expected Volatility \| Minimum
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]
Measurement input	80.0	60.0
Expected Volatility \| Maximum
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]
Measurement input	95.0	68.0
Risk-Free Interest Rate \| Minimum
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]
Measurement input	1.16	2.34
Risk-Free Interest Rate \| Maximum
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]
Measurement input	1.53	2.46

Leases - Schedule of Supplemental Cash Flow Information Related to Leases (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2020 USD ($)
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows for operating leases	$ 4,169
Operating cash flows for finance lease — cash paid for interest	9
Financing cash flows for finance lease — cash paid for principal	25
Right-of-use assets obtained in exchange of lease obligations
Operating leases	19,595
Finance lease	$ 1,726

Stock-Based Compensation

12 Months Ended

Dec. 31, 2020

Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]

Stock-Based Compensation

15.	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, 2020
	BridgeBio Equity Plan		Eidos Equity Plan		Other Subsidiaries Equity Plan		Total
	(in thousands)
Research and development	$	16,316	$	5,743	$	626	$	22,685
General and administrative		30,285		5,159		330		35,774
Total stock-based compensation	$	46,601	$	10,902	$	956	$	58,459

	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

Stock-Based Awards of BridgeBio

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. On June 2, 2020, our stockholders approved an amendment and restatement of the 2019 Plan (the “A&R 2019 Plan”) to, among other things, increase the number of shares of common stock reserved for issuance thereunder by 2,500,000 shares.

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, 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 BridgeBio or its Subsidiaries to accept employment and to provide them with a proprietary interest in BridgeBio, 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.

As of December 31, 2020, 3,820,622 shares and 204,664 shares were reserved for future issuances under the 2019 Plan and 2019 Inducement Plan, respectively.

2020 Stock and Equity Award Exchange Program (Exchange Program)

On April 22, 2020, we completed our 2020 Stock and Equity Award Exchange Program (the “Exchange Program”) for certain subsidiaries, which was an opportunity for eligible controlled entities’ employees and consultants to exchange their subsidiary equity (including common stock, vested and unvested stock options and restricted stock awards (RSAs)) for BridgeBio equity (including common stock, vested and unvested stock options and RSAs) and/or performance-based milestone awards tied to the achievement of certain development and regulatory milestones. The Exchange Program aligns our incentive compensation structure for employees and consultants across the BridgeBio group of companies to be consistent with the achievement of our overall corporate goals. In connection with the Exchange Program, we issued awards of BridgeBio equity under the 2019 A&R Plan to 149 grantees covering 554,064 shares of common stock, 1,268,110 stock options to purchase common stock, 50,145 shares of RSAs and 22,611 shares of performance-based RSAs. The exchange also included performance-based milestone awards of up to $183.4 million to be settled in shares of BridgeBio’s common stock in the future upon achievement of the milestones (collectively the “New Awards”). In consideration for all the subsidiaries’ shares tendered, BridgeBio increased its ownership in controlled entities included in the Exchange Program and the corresponding noncontrolling interest decreased.

On November 18, 2020, we completed a stock and equity award under our Exchange Program for a subsidiary. We issued awards of BridgeBio equity under the 2019 A&R Plan to 16 grantees covering 24,924 shares of common stock, 70,436 stock options to purchase common stock, and 10,772 shares of performance-based stock options to purchase common stock. The exchange also included performance-based milestone awards of up to $11.7 million to be settled in shares of BridgeBio’s common stock in the future upon achievement of the milestones.

We evaluated the exchange of the controlled entities’ outstanding common stock and equity awards for BridgeBio awards as a modification under ASC 718, Share Based Payments. Under ASC 718, a modification is a change in the terms or conditions of a stock-based compensation award. In assessing the accounting treatment, we consider the fair value, vesting conditions and classification as an equity or liability award of the controlled entity equity before the exchange, compared to the BridgeBio equity received as part of the exchange to determine whether modification accounting must be applied. When applying modification accounting, we considered the type of modification to determine the appropriate stock-based compensation cost to be recognized on April 22 and November 18, 2020, (each the “Modification Date”), and subsequent to the Modification Date.

We considered the total shares of common stock and equity awards, whether vested or unvested, held by each participant in each controlled entity as the unit of account. The controlled entity’s common stock and equity awards in each unit of account was exchanged for a combination of BridgeBio’s common stock, time-based vesting equity awards and/or performance-based milestone awards. Other than the exchange of the controlled entity equity awards for performance-based milestone awards, all other exchanged BridgeBio equity awards retained the original vesting conditions. As a result, there was no incremental stock-based compensation expense resulting from the exchange of time-based equity awards.

At the completion of the Exchange Program on April 22, 2020, we determined $17.4 million of the performance-based milestone awards is probable of achievement and represented the incremental stock-based compensation cost resulting from the modification of time-based equity awards to performance-based milestone awards. These performance-based milestone awards were to be recognized over a period ranging from 0.7 year to 1.7 years. There was no incremental stock-based compensation cost arising from the completion of the Exchange Program on November 18, 2020. Under ASC 718, we account for such performance-based milestone awards as a liability in “Accrued compensation and benefits” and in “Other liabilities” in the consolidated balance sheet due to the fixed milestone amount that will be converted into a variable number of shares of BridgeBio common stock to be granted upon the achievement date.

As of December 31, 2020, we determined that $11.1 million of the $17.4 million incremental stock-based compensation cost above remained probable of achievement and is being recognized over a period ranging from 0.9 year to 2.9 years. For the year ended December 31, 2020, we recognized $9.6 million of stock based compensation cost associated with performance based milestone awards that were determined to be probable as of December 31, 2020. We have recognized stock-based compensation expense of $2.0 million for the year ended December 31, 2020 for performance-based milestone awards that were achieved during the year and settled with 73,248 restricted stock awards due to achievement of regulatory milestones related to IND acceptance that were completed during the year ended December 31, 2020. There were no such compensation awards in the comparative periods in 2019.

Stock Option Grants of BridgeBio

The following table summarizes BridgeBio’s stock option activity under the Plans for the period through December 31, 2020:

	Options Outstanding			Weighted- Average Exercise Price per Option		Weighted- Average Remaining Contractual Life (years)		Aggregate Intrinsic Value
	(in thousands, except shares and per share amounts)
Outstanding as of December 31, 2019		4,626,777		$	20.10		9.6	$	70,348
Granted		2,575,143		$	30.56
Granted — Exchange Program		1,349,318		$	2.05
Exercised		(155,968	)	$	18.43
Exercised — Exchange Program		(481,837	)	$	1.74
Cancelled		(267,840	)	$	27.33
Cancelled — Exchange Program		(12,632	)	$	2.81
Outstanding as of December 31, 2020		6,778,112		$	23.83		8.8	$	320,473
Outstanding as of December 31, 2020 — Exchange Program		854,849		$	2.22		8.2	$	58,891
Exercisable as of December 31, 2020		1,736,585		$	21.22		8.4	$	86,644
Exercisable as of December 31, 2020 — Exchange Program		667,553		$	1.75		8.1	$	46,304

The options granted to employees and consultants are exercisable at the price of the BridgeBio’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 2020 and 2019 is calculated based on the difference between the exercise price and the current fair value the BridgeBio’s common stock.

During the year ended December 31, 2020 and 2019, we recognized stock-based compensation expense of $15.6 million and $3.9 million, respectively, related to stock options under the Plans. As of December 31, 2020, there was $43.8 million of total unrecognized compensation cost related to stock options under the Plans that is expected to be recognized over a weighted-average period of 2.6 years.

Restricted Stock Units (RSUs) of BridgeBio

The following table summarizes BridgeBio’s RSU activity under the Plans for the year ended December 31, 2020:

	Unvested Shares of RSUs Outstanding			Weighted- Average Grant Date Fair Value
Balance at December 31, 2019		362,163		$	31.98
Granted		1,054,676		$	34.18
Vested		(123,321	)	$	33.35
Cancelled		(239,680	)	$	31.16
Balance at December 31, 2020		1,053,838		$	34.21

The RSUs have a service condition and generally vest over a period of four years.

During the years ended December 31, 2020 and 2019, we recognized stock-based compensation expense of $7.4 million and $0.2 million, respectively, related to shares of RSUs under the Plans. As of December 31, 2020, there was $32.8 million of total unrecognized compensation cost related to RSUs under the Plans that is expected to be recognized over a weighted-average period of 3.2 years.

Restricted Stock Awards (RSAs) of BridgeBio

As disclosed in Note 14, upon the Reorganization, all unvested outstanding management incentive units and common units of BBP LLC were cancelled and converted into shares of BridgeBio’s RSAs.

The following table summarizes our RSA activity under the Plans for the year ended December 31, 2020:

	Unvested Shares of RSAs Outstanding			Weighted- Average Grant Date Fair Value
Balance at December 31, 2019		5,603,452		$	3.63
Granted — Exchange Program		50,145		$	0.18
Granted — Performance-based milestone awards		73,248		$	27.27
Vested		(2,362,479	)	$	3.09
Balance at December 31, 2020		3,364,366		$	4.47

During the years ended December 31, 2020 and 2019, we recognized stock-based compensation expense of $10.7 million and $4.2 million, respectively, related to RSAs under the Plans. As of December 31, 2020, there was $16.5 million of total unrecognized compensation cost related to RSAs under the Plans that is expected to be recognized over a weighted-average period of 2.8 years. The 3,364,366 and 5,603,452 unvested RSAs as of December 31, 2020 and 2019, respectively, are included as outstanding shares disclosed in the consolidated balance sheet as of December 31, 2020 and 2019 as the shares were actually issued but are subject to forfeiture per the terms of the awards.

Market-Based RSUs of BridgeBio

During the year ended December 31, 2019, the Board of Directors approved and granted market-based RSUs that were subject to continuous employment at the time of achievement of the market conditions. One such market-based RSU award includes a market condition based on the Total Shareholders’ Return (TSR) of BridgeBio’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. In connection with the separation of the grantee from BridgeBio in 2020, this particular market-based RSU representing 53,234 shares was forfeited and the previously recognized stock-based compensation expense, which was not material, was reversed. The other market-based RSU award includes a market condition based on BridgeBio’s market capitalization reaching $5.0 billion and vests immediately at 100% upon achievement of said market capitalization.

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.

The following table summarizes our market-based RSU activity under the Plans for the year ended December 31, 2020:

	Unvested Shares of Market-based RSUs Outstanding			Weighted- Average Grant Date Fair Value
Balance at December 31, 2019		129,871		$	28.98
Granted		2,380		$	34.81
Vested		(76,637	)	$	41.54
Cancelled		(53,234	)	$	10.90
Balance at December 31, 2020		2,380		$	34.81

For the year ended December 31, 2020 and 2019, we recognized stock-based compensation expense of $1.0 million and $2.3 million, respectively, related to market-based RSU awards. As of December 31, 2020, unrecognized compensation cost related to market-based RSUs under the Plans was immaterial.

2019 Employee Stock Purchase Plan (ESPP) of BridgeBio

On June 22, 2019, we adopted the 2019 ESPP, which became effective on June 25, 2019 and was amended and restated effective as of December 12, 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, 2020 and 2019, we recognized stock-based compensation expense of $1.0 million and $0.4 million, respectively, related to the ESPP. As of December 31, 2020, 3,123,169 shares were reserved for future issuance under the ESPP.

Valuation Assumptions

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, 2020, we used the following weighted-average assumptions in the Black-Scholes calculations:

	Year Ended December 31,
	2020				2019
	Stock Options		ESPP		Stock Options		ESPP
Expected term (in years)	5.00-6.08		0.40-0.65		5.00-6.08			0.40
Expected volatility	36.3%-46.4%		32.5%-47.6%		36.4%-37.5%			43.4	%
Risk-free interest rate	0.31%-1.50%		0.13%-1.57%		1.69%-1.86%			2.12	%
Dividend yield		—		—		—		—
Weighted-average fair value of stock-based awards granted	$	11.29	$	10.48	$	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 consultants. During 2019 and 2018, 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 consultants than a performance bonus or profit-sharing arrangement.

As described in Note 14, BBP LLC equity-based awards were cancelled and exchanged for shares of BridgeBio restricted common stock. For the years ended December 31, 2019 and 2018, equity-based compensation from BBP LLC equity-based awards was $3.4 million and $3.2 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 BridgeBio at the earliest period presented:

	Equivalent Shares of the Corporation's Restricted Common Stock
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 BridgeBio		(5,762,125	)
Converted into unvested restricted common stock of BridgeBio		(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 BridgeBio at the earliest period presented:

	Equivalent Shares of the Corporation's Restricted Common Stock			Weighted- Average Grant Date Fair Value
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 BridgeBio		(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
Expected term (in years)	1.50		0.75-1.50
Expected volatility	48.0%-49.0%		40.0%-49.0%
Risk-free interest rate	2.34%-2.56%		1.70%-2.56%
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, 2020, Eidos has reserved 2,798,000 shares of common stock for issuance under the 2018 Plan.

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. In connection with the Merger Agreement further discussed in Note 5, Eidos did not commence a new offering period on December 1, 2020.

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,
	2020			2019			2018
Expected term (in years)		0.50			0.50			0.48
Expected volatility		75.46	%		63.06	%		70.40	%
Risk-free interest rate		0.84	%		2.32	%		1.50	%
Dividend yield		—			—			—

Eidos Stock Options

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

									Weighted-
							Weighted-		Average
	Options						Average		Remaining		Aggregate
	Available for			Options			Exercise		Contractual		Intrinsic
	Grant			Outstanding			Option		Life (years)		Value
	(in thousands, except shares and per share amounts)
Outstanding as of December 31, 2019		1,935,054			1,335,755		$	16.91		8.77	$	54,071
Options granted		(685,017	)		685,017		$	46.39
Options exercised		—			(461,732	)	$	17.96
Options cancelled		23,762			(23,762	)	$	19.45
Outstanding as of December 31, 2020		1,273,799			1,535,278		$	29.71		8.46	$	156,399
Options exercisable as of December 31, 2020					371,768		$	18.73		7.86	$	41,954
Options vested and expected to vest as of December 31, 2020					1,535,278		$	29.71		8.46	$	156,399

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 $28.0 million, $12.3 million and $0.9 million for the years ended December 31, 2020, 2019 and 2018, respectively.

The total fair value of Eidos shares vested during the years ended December 31, 2020, 2019 and 2018 was $11.7 million, $5.2 million and $2.5 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 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 December 31,
	2020			2019			2018
Expected term (in years)		6.06			6.07			6.08
Expected volatility		72.1	%		72.4	%		72.0	%
Risk-free interest rate		0.52	%		1.95	%		2.87	%
Dividend yield	—			—			—

The weighted average fair value of stock-based awards granted to employees during the years ended December 31, 2020, 2019 and 2018 was $28.95 per share, $22.86 per share and $8.46 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, 2020 and 2019, 73,230 shares and 170,866 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, 2020, 2019 and 2018, Eidos recognized zero expense related to these awards.

Eidos Stock-Based Compensation

As of December 31, 2020, there was $24.9 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 2.8 years.

Noncontrolling Interests - Additional Information (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Noncontrolling Interest [Abstract]
Adjustments of carrying value of noncontrolling interest additional paid-in capital	$ (12.0)	$ 28.6	$ (21.6)

Commitments and Contingencies - Schedule of Potential Milestone Amounts and Accruals (Detail)
$ in Thousands

Dec. 31, 2020

USD ($)

Commitments And Contingencies Disclosure [Abstract]

Fixed Monetary Amount Settlement in Cash

$ 15,006

Fixed Monetary Amount Settlement in Stock

168,407

^[1]

Fixed Monetary Amount Settlement in Cash or stock at our sole discretion

84,030

Total Fixed Monetary Settlement Amount

267,443

Accrued Amount Settlement in Cash

367

^[2]

Accrued Amount Settlement in Stock

9,571

^[1],[2]

Accrued Amount Settlement in Cash or stock at our sole discretion

634

^[2]

Total Accrued Settlement Amount

$ 10,572

^[2]

[1]	Includes the performance-based milestone awards that were granted as part of the 2020 Stock and Equity Award Exchange Program (the “Exchange Program”) further discussed in Note 15.
[2]	Amount recorded for performance-based milestone awards that are probable of achievement.

Debt - Additional Information (Details)				1 Months Ended				12 Months Ended
Debt - Additional Information (Details)	Mar. 09, 2020 USD ($) TradingDay $ / shares shares	Mar. 04, 2020 USD ($) $ / shares shares	Nov. 13, 2019 USD ($)	Apr. 30, 2020 USD ($)	Jul. 31, 2019	Dec. 31, 2018 USD ($)	Jun. 30, 2018 USD ($)	Dec. 31, 2020 USD ($)	Dec. 31, 2019 USD ($)	Dec. 31, 2018 USD ($)	Dec. 15, 2020 USD ($)	Oct. 31, 2020 USD ($)	May 31, 2019 USD ($)
Debt Instrument [Line Items]
Purchase of capped calls								$ 49,280,000
Repurchase of common stock								75,000,000
Hercules Capital, Inc
Debt Instrument [Line Items]
Debt Instrument face amount						$ 20,000,000.0	$ 35,000,000.0			$ 20,000,000.0
Debt instrument maturity date extension				Nov. 01, 2023	Jan. 01, 2023
Term loan, end of term charge owe amount						$ 1,200,000	$ 2,200,000			$ 1,200,000
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, 2022	Jul. 01, 2021
Payment in kind, interest rate					83.33%
Debt instrument interest only extension date, one				Jan. 01, 2023
Debt instrument interest only extension date, two				Jul. 01, 2023
Debt instrument amended maturity extended date				May 01, 2024
Debt instrument, additional increase available in loan facilities				$ 125,000,000.0				100,000,000.0
Debt instrument, additional increase available in loan facilities no later than December 15, 2020				25,000,000.0							$ 25,000,000.0
Debt instrument, additional increase available in loan facilities no later than December 15, 2021				25,000,000.0
Debt instrument, additional increase available in loan facilities upon achievement of certain performance milestones				25,000,000.0
Debt instrument, additional increase available in loan facilities no later than December 15, 2022				50,000,000.0
Gains or losses on debt modification				$ 0
Interest expense								7,900,000	$ 8,300,000	$ 2,400,000
Amortization of debt discount								$ 1,300,000	$ 1,400,000	$ 500,000
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 \| Prime Rate
Debt Instrument [Line Items]
Interest rate				2.85%
Share Repurchase Transactions
Debt Instrument [Line Items]
Repurchase of common stock		$ 75,000,000.0
Stock repurchased during period, shares \| shares		2,414,681
Repurchase of common stock price per share \| $ / shares		$ 31.06
Maximum \| Silicon Valley Bank and Hercules Loan Agreement \| Eidos
Debt Instrument [Line Items]
Debt Instrument face amount			$ 55,000,000.0
Minimum \| Hercules Capital, Inc \| Payment in Kind
Debt Instrument [Line Items]
Cash payment interest					1.50%
2027 Notes
Debt Instrument [Line Items]
Debt Instrument face amount	$ 550,000,000.0							$ 550,000,000.0
Stated interest rate	2.50%							2.50%
Maturity year	2027
Proceeds from initial purchasers in note offering	$ 75,000,000.0
Debt instrument, frequency of interest payment	semiannually
Interest payable beginning date	Sep. 15, 2020
Description of payment terms of notes								The 2027 Notes are senior, unsecured obligations of BridgeBio and will accrue interest payable semiannually in arrears on March 15 and September 15 of each year, beginning on September 15, 2020, at a rate of 2.50% per year.
Proceeds from issuance of notes after deducting discount and offering expenses	$ 537,000,000.0
Purchase of capped calls	49,300,000
Repurchase of common stock	75,000,000.0
Denomination of the principal amount of debt in consideration conversion of the notes	$ 1,000
Debt instrument, convertible, threshold trading days \| TradingDay	20
Debt instrument, convertible, threshold consecutive trading days \| TradingDay	30
Debt instrument, convertible, threshold percentage of stock price trigger	130.00%
Number of consecutive trading day period (Measurement period) for conversion of notes	5 days
Number of business days in consideration of conversion of notes	5 days
Threshold percentage of stock price trigger in measurement period	98.00%
Conversion rate	23.4151
Initial conversion price per share \| $ / shares	$ 42.71
Number of shares converted \| shares	12,878,305
Debt instrument, convertible, if-converted value of notes in excess of principal amount								$ 365,800,000
Percentage of principal amount to be repurchased in fundamental change	100.00%
Minimum threshold percentage of aggregate principal by trustee or holders	25.00%
Debt issuance costs including initial purchasers discounts, legal and other professional fees	$ 13,000,000.0
Debt issuance costs allocated to equity component	4,100,000
Debt issuance costs allocated to liability component	$ 8,900,000							$ 8,160,000
Expected life of notes	7 years
Effective interest rate on liability component								8.80%
Debt instrument, principal outstanding								$ 550,000,000
Interest expense								26,802,000
Amortization of debt discount								14,877,000
Debt instrument, principal outstanding								$ 550,000,000
2027 Notes \| Maximum
Debt Instrument [Line Items]
Conversion rate	17,707,635
Capped Call Transactions
Debt Instrument [Line Items]
Purchase of capped calls		$ 49,300,000
Initial conversion price per share \| $ / shares		$ 42.71
Capped call transaction, cap price per share \| $ / shares		$ 62.12
Premium over last reported sale price percentage		100.00%
Number of shares convertible \| shares		12,878,305
Adjustments to additional paid in capital related to premium payments		$ (49,300,000)
Tranche I \| Hercules Capital, Inc
Debt Instrument [Line Items]
Debt Instrument face amount							$ 35,000,000.0
Stated interest rate				8.75%			9.35%	8.75%	8.85%
Debt instrument, frequency of interest payment				payable monthly			payable monthly		payable monthly
Maturity period							42 months
Maturity date							Jan. 01, 2022
Debt instrument, principal payments							$ 0
Tranche I \| Hercules Capital, Inc \| Prime Rate
Debt Instrument [Line Items]
Stated interest rate									8.85%
Interest rate				3.85%			4.35%		3.85%	9.85%
Tranche II \| Hercules Capital, Inc
Debt Instrument [Line Items]
Debt Instrument face amount						$ 20,000,000.0				$ 20,000,000.0
Stated interest rate				8.60%		9.10%		8.60%	8.60%	9.10%
Debt instrument, frequency of interest payment				payable monthly		payable monthly			payable monthly
Debt instrument, principal outstanding						$ 55,000,000.0				$ 55,000,000.0
Debt instrument maturity date extension						Jul. 01, 2022
Debt instrument, principal outstanding						$ 55,000,000.0				$ 55,000,000.0
Tranche II \| Hercules Capital, Inc \| Prime Rate
Debt Instrument [Line Items]
Stated interest rate						9.10%			8.60%	9.10%
Interest rate						3.35%			2.85%
Tranche III \| Hercules Capital, Inc
Debt Instrument [Line Items]
Debt Instrument face amount													$ 20,000,000.0
Stated interest rate				8.85%				8.85%	9.10%
Debt instrument, frequency of interest payment				payable monthly					payable monthly
Debt instrument, principal outstanding													75,000,000.0
Debt instrument, principal outstanding													$ 75,000,000.0
Tranche III \| Hercules Capital, Inc \| Prime Rate
Debt Instrument [Line Items]
Stated interest rate									9.10%
Interest rate				3.10%					3.10%
Tranche A Loan [Member] \| Silicon Valley Bank and Hercules Loan Agreement \| Eidos
Debt Instrument [Line Items]
Stated interest rate			8.50%
Maturity date			Oct. 02, 2023
Debt instrument, principal payments			$ 16,100,000
Debt instrument, principal outstanding								$ 16,900,000	$ 16,100,000
Debt instrument end date of available for drawn			Oct. 31, 2020
Debt instrument drawn amount			$ 17,500,000
Debt instrument end date of interest only payments			Nov. 01, 2021
Commitment fee			$ 300,000
Final payment charge percentage			5.95%
Discount on issuance of debt			$ 2,500,000
Embedded derivative liability			1,100,000
Final payment charge of debt due on maturity			1,000,000.0
Other debt issuance costs			100,000
Valuation assumptions, discount rate								12.60%	11.60%
Fair value of derivative liability								$ 1,300,000	$ 1,200,000
Debt instrument, principal outstanding								16,900,000	16,100,000
Unamortized debt discounts								1,600,000	2,400,000
Interest expense and amortization of debt discount								$ 2,300,000	$ 300,000
Tranche A Loan [Member] \| Silicon Valley Bank and Hercules Loan Agreement \| Eidos \| If conditions are met prior to November 13, 2021
Debt Instrument [Line Items]
Success fees amount payable			1,000,000.0
Tranche A Loan [Member] \| Silicon Valley Bank and Hercules Loan Agreement \| Eidos \| If conditions are met after November 19, 2021
Debt Instrument [Line Items]
Success fees amount payable			$ 2,000,000.0
Tranche A Loan [Member] \| Silicon Valley Bank and Hercules Loan Agreement \| Prime Rate \| Eidos
Debt Instrument [Line Items]
Interest rate			3.25%					8.50%
Tranche A Loan [Member] \| Maximum \| Silicon Valley Bank and Hercules Loan Agreement \| Eidos
Debt Instrument [Line Items]
Debt Instrument face amount			$ 17,500,000
Percentage of prepayment fee			2.50%
Tranche A Loan [Member] \| Minimum \| Silicon Valley Bank and Hercules Loan Agreement \| Eidos
Debt Instrument [Line Items]
Percentage of prepayment fee			0.75%
Tranche B Loan [Member] \| Silicon Valley Bank and Hercules Loan Agreement \| Eidos
Debt Instrument [Line Items]
Debt instrument end date of available for drawn			Oct. 31, 2020
Tranche B Loan [Member] \| Maximum \| Silicon Valley Bank and Hercules Loan Agreement \| Eidos
Debt Instrument [Line Items]
Debt Instrument face amount			$ 22,500,000
Debt instrument, amount available to be drawn												$ 22,500,000
Tranche C Loan [Member] \| Silicon Valley Bank and Hercules Loan Agreement \| Eidos
Debt Instrument [Line Items]
Debt instrument end date of available for drawn			Sep. 30, 2021
Tranche C Loan [Member] \| Maximum \| Silicon Valley Bank and Hercules Loan Agreement \| Eidos
Debt Instrument [Line Items]
Debt Instrument face amount			$ 15,000,000.0

Cash Equivalents and Marketable Securities - Additional Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	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%
Realized gains or losses on available-for-sale securities	$ 0
Short-term marketable securities contractual maturities	5 months	8 months
Long-term marketable securities contractual maturities		16 months
U.S. Treasury Notes \| Maximum
Cash And Cash Equivalents [Line Items]
Received repurchase agreement	$ 0

Out-licensing Agreements - Additional Information (Details) - USD ($)	1 Months Ended			12 Months Ended
	Aug. 31, 2020	Oct. 31, 2019	Sep. 30, 2019	Dec. 31, 2020	Dec. 31, 2019
Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]
Revenue recognized related to agreement				$ 8,249,000	$ 40,560,000
Upfront payment received					10,000,000.0
Fair value of ordinary shares received					3,800,000
Alexion License Agreements \| Eidos
Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]
Upfront nonrefundable payment received			$ 25,000,000.0
Regulatory milestone payment receivable subject to achievement of regulator milestones				30,000,000.0
Alexion Agreements \| Eidos
Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]
Upfront nonrefundable payment received			25,000,000.0
Revenue recognized related to agreement			$ 26,700,000
Alexion Agreements \| Eidos \| Common Stock
Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]
Shares issued			556,173
Shares issued, price per share			$ 44.95
Aggregate purchase price			$ 25,000,000.0
Excess of purchase price over the value of common stock shares			$ 1,700,000
Alexion Agreements \| Eidos \| Common Stock \| The Nasdaq Global Select Market
Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]
Shares issued, price per share			$ 41.91
Excess of purchase price over the value of common stock shares			$ 1,700,000
LianBio
Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]
Reimbursements for research and development expenses				2,800,000
LianBio \| License Agreement
Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]
Nonrefundable upfront payment receivable	$ 8,000,000.0
License Revenue
Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]
Revenue recognized related to agreement				8,000,000.0	$ 13,800,000
License Revenue \| Alexion Agreements \| Eidos
Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]
Revenue recognized related to agreement				200,000
License Revenue \| Clinical Supply Agreement
Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]
Revenue recognized related to agreement				200,000
Warrants \| Other Income (Expense) \| LianBio
Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]
Changes in fair value				3,300,000
Maximum \| Alexion License Agreements \| Eidos
Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]
Future potential regulatory milestones				$ 30,000,000.0
Maximum \| LianBio \| License Agreement
Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]
Future potential development and sales milestone payments yet to receive	$ 382,100,000
QED Therapeutics, Inc \| Entities Affiliated With Perceptive Life Sciences Master Fund Ltd
Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]
Upfront nonrefundable payment received		$ 10,000,000.0
Warrant to purchase percentage		10.00%
QED Therapeutics, Inc \| Entities Affiliated With Perceptive Life Sciences Master Fund Ltd \| Maximum
Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]
Future potential development and sales milestone payments yet to receive		$ 132,500,000

Stock-Based Compensation - Summary of Stock Based Compensation for Employees and Non Employees (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Employee And Non Employee Service Share Based Compensation [Line Items]
Total stock-based compensation	$ 58,459	$ 21,374	$ 6,067
BridgeBio Equity Plan
Employee And Non Employee Service Share Based Compensation [Line Items]
Total stock-based compensation	46,601	15,190	3,183
Eidos
Employee And Non Employee Service Share Based Compensation [Line Items]
Total stock-based compensation	10,902	5,373	2,526
Other Subsidiaries Equity Plan
Employee And Non Employee Service Share Based Compensation [Line Items]
Total stock-based compensation	956	811	358
Research and Development Expense
Employee And Non Employee Service Share Based Compensation [Line Items]
Total stock-based compensation	22,685	3,665	1,511
Research and Development Expense \| BridgeBio Equity Plan
Employee And Non Employee Service Share Based Compensation [Line Items]
Total stock-based compensation	16,316	986
Research and Development Expense \| Eidos
Employee And Non Employee Service Share Based Compensation [Line Items]
Total stock-based compensation	5,743	2,313	1,325
Research and Development Expense \| Other Subsidiaries Equity Plan
Employee And Non Employee Service Share Based Compensation [Line Items]
Total stock-based compensation	626	366	186
General and Administrative
Employee And Non Employee Service Share Based Compensation [Line Items]
Total stock-based compensation	35,774	17,709	4,556
General and Administrative \| BridgeBio Equity Plan
Employee And Non Employee Service Share Based Compensation [Line Items]
Total stock-based compensation	30,285	14,204	3,183
General and Administrative \| Eidos
Employee And Non Employee Service Share Based Compensation [Line Items]
Total stock-based compensation	5,159	3,060	1,201
General and Administrative \| Other Subsidiaries Equity Plan
Employee And Non Employee Service Share Based Compensation [Line Items]
Total stock-based compensation	$ 330	$ 445	$ 172

Debt

12 Months Ended

Dec. 31, 2020

Debt Disclosure [Abstract]

Debt

10.

Debt

2027 Notes

On March 9, 2020, BridgeBio issued an aggregate principal amount of $550.0 million of its 2.50% Convertible Senior Notes due 2027 (the “2027 Notes”), pursuant to an Indenture dated March 9, 2020 (the “Indenture”), between BridgeBio and U.S. Bank National Association, as trustee (the “Trustee”), in a private offering to qualified institutional buyers (the “2020 Note Offering”) pursuant to Rule 144A under the Securities Act. The 2027 Notes issued in the 2020 Note Offering include $75.0 million in aggregate principal amount of 2027 Notes sold to the initial purchasers (the “Initial Purchasers”) resulting from the exercise in full of their option to purchase additional 2027 Notes.

The 2027 Notes are senior, unsecured obligations of BridgeBio and will accrue interest payable semiannually in arrears on March 15 and September 15 of each year, beginning on September 15, 2020, at a rate of 2.50% per year. The 2027 Notes will mature on March 15, 2027, unless earlier converted or repurchased. Upon conversion, the 2027 Notes are convertible into cash, shares of BridgeBio’s common stock or a combination of cash and shares of BridgeBio’s common stock, at BridgeBio’s election.

BridgeBio received net proceeds from the 2020 Note Offering of approximately $537.0 million, after deducting the Initial Purchasers’ discount and offering expenses. BridgeBio used approximately $49.3 million of the net proceeds from the 2020 Note Offering to pay for the cost of the Capped Call Transactions described below, and approximately $75.0 million to pay for the repurchase of shares of its common stock described below. BridgeBio intends to use the remainder of the net proceeds from the 2020 Note Offering for working capital and other general corporate purposes, including for its commercial organization and launch preparations. BridgeBio may also use any remaining net proceeds to fund possible acquisitions of, or investments in, complementary businesses, products, services and technologies.

A holder of 2027 Notes may convert all or any portion of its 2027 Notes at its option at any time prior to the close of business on the business day immediately preceding December 15, 2026 in multiples of $1,000 only under the following circumstances:

•

During any calendar quarter commencing after the calendar quarter ending on June 30, 2020 (and only during such calendar quarter), if the last reported sale price of BridgeBio’s common stock for at least 20 trading days (whether or not consecutive) during a period of 30 consecutive trading days ending on, and including, the last trading day of the immediately preceding calendar quarter is greater than or equal to 130% of the conversion price on each applicable trading day;

•

During the five business day period after any five consecutive trading day period (the “measurement period”) in which the “trading price” (as defined in the Indenture) per $1,000 principal amount of 2027 Notes for each trading day of the measurement period was less than 98% of the product of the last reported sale price of BridgeBio’s common stock and the conversion rate on each such trading day; or,

•

Upon the occurrence of specified corporate events.

On or after December 15, 2026 until the close of business on the second scheduled trading day immediately preceding the maturity date, a holder may convert all or any portion of its 2027 Notes at any time, regardless of the foregoing.

The conversion rate will initially be 23.4151 shares of BridgeBio’s common stock per $1,000 principal amount of 2027 Notes (equivalent to an initial conversion price of approximately $42.71 per share of BridgeBio’s common stock, for a total of approximately 12,878,305 shares). Based on the closing price of our common stock on December 31, 2020, the if-converted value of the 2027 Notes exceeded its principal amount by approximately $365.8 million.

The conversion rate is subject to adjustment in some events, but will not be adjusted for any accrued and unpaid interest. In addition, following certain corporate events that occur prior to the maturity date, BridgeBio will, in certain circumstances, increase the conversion rate for a holder who elects to convert its 2027 Notes in connection with such a corporate event. The maximum number of shares issuable should there be an increase in the conversion rate is 17,707,635 shares of BridgeBio’s common stock.

BridgeBio may not redeem the 2027 Notes prior to the maturity date, and no sinking fund is provided for the 2027 Notes. If BridgeBio undergoes a fundamental change (as defined in the Indenture), holders may require BridgeBio to repurchase for cash all or any portion of their 2027 Notes at a fundamental change repurchase price equal to 100% of the principal amount of the 2027 Notes to be repurchased, plus any accrued and unpaid interest to, but excluding, the fundamental change repurchase date. The Indenture contains customary terms and covenants, including that upon certain events of default occurring and continuing, either the Trustee or the holders of not less than 25% in aggregate principal amount of the 2027 Notes then outstanding may declare the entire principal amount of all the Notes plus accrued special interest, if any, to be immediately due and payable. The 2027 Notes are BridgeBio’s general unsecured obligations and rank senior in right of payment to all of BridgeBio’s indebtedness that is expressly subordinated in right of payment to the 2027 Notes; equal in right of payment with all of BridgeBio’s liabilities that are not so subordinated; effectively junior to any of BridgeBio’s secured indebtedness to the extent of the value of the assets securing such indebtedness; and structurally junior to all indebtedness and other liabilities (including trade payables) of BridgeBio’s subsidiaries.

In accounting for the issuance of the 2027 Notes, we separately accounted for the liability and equity components of the 2027 Notes by allocating the proceeds between the liability component and the embedded conversion options, or equity component, due to BridgeBio’s ability to settle the 2027 Notes in cash, its common stock, or a combination of cash and common stock at BridgeBio’s option. The carrying amount of the liability component was calculated by measuring the fair value of a similar liability that does not have an associated convertible feature. The allocation was performed in a manner that reflected BridgeBio’s non-convertible debt borrowing rate for similar debt. The equity component of the 2027 Notes was recognized as a debt discount and represents the difference between the gross proceeds from the issuance of the 2027 Notes and the fair value of the liability of the 2027 Notes on the date of issuance. The equity component is not remeasured as long as it continues to meet the conditions for equity classification.

The outstanding 2027 Notes balances consisted of the following as of December 31, 2020:


	Amount
	(in thousands)
Liability component
Principal	$	550,000
Unamortized debt discount		(158,404	)
Unamortized debt issuance costs		(8,160	)
Net carrying amount	$	383,436
Equity component, net of issuance costs	$	169,173

In connection with the issuance of the 2027 Notes, BridgeBio incurred approximately $13.0 million of debt issuance costs, which primarily consisted of initial purchasers’ discounts and legal and other professional fees. We allocated these costs to the liability and equity components based on the allocation of the proceeds. The portion of these costs allocated to the equity component totaling approximately $4.1 million was recorded as a reduction to additional paid-in capital. The portion of these costs allocated to the liability component totaling approximately $8.9 million was recorded as a reduction in the carrying value of the debt on the consolidated balance sheet and is amortized to interest expense using the effective interest method over the expected life of the 2027 Notes or approximately their seven-year term. The effective interest rate on the liability component of the 2027 Notes for the period from the date of issuance through December 31, 2020 was 8.8%.

The following table sets forth the total interest expense recognized related to the 2027 Notes for the year ended December 31, 2020:


	Amount
	(in thousands)
Contractual interest expense	$	11,153
Amortization of debt discount		14,877
Amortization of debt issuance costs		772
Total interest and amortization expense	$	26,802

Future minimum payments under the 2027 Notes as of December 31, 2020, are as follows:

	Amount
	(in thousands)
Year ending December 31:
2021	$	13,750
2022		13,750
2023		13,750
2024		13,750
2025		13,750
Thereafter		570,625
Total future payments		639,375
Less amounts representing interest		(89,375	)
Total principal amount	$	550,000

Capped Call and Share Repurchase Transactions with Respect to the 2027 Notes

On March 4, 2020, concurrently with the pricing of the 2027 Notes, we entered into privately negotiated capped call transactions (the “Capped Call Transactions”) with certain financial institutions (the “Capped Call Counterparties”). We used approximately $49.3 million of the net proceeds from the 2020 Note Offering to pay for the cost of the Capped Call Transactions. The Capped Call Transactions are expected generally to reduce the potential dilution to BridgeBio’s common stock upon any conversion of 2027 Notes and/or offset any cash payments we are required to make in excess of the principal amount of converted Notes, as the case may be, with such reduction and/or offset subject to a cap initially equal to $62.12 (which represents a premium of 100% over the last reported sale price of BridgeBio’s common stock on March 4, 2020) and is subject to certain adjustments under the terms of the Capped Call Transactions. The Capped Calls cover 12,878,305 shares of our common stock (subject to anti-dilution and certain other adjustments), which is the same number of shares of common stock that initially underlie the 2027 Notes. The Capped Calls have an initial strike price of approximately $42.71 per share, which corresponds to the initial conversion price of the 2027 Notes. The Capped Call Transactions are separate transactions, entered into by us with the Capped Call Counterparties, and are not part of the terms of the 2027 Notes.

These Capped Call instruments meet the conditions outlined in ASC 815-40 to be classified in stockholders’ equity and are not subsequently remeasured as long as the conditions for equity classification continue to be met. We recorded a reduction to additional paid-in capital of approximately $49.3 million related to the premium payments for the Capped Call Transactions.

Additionally, we used approximately $75.0 million of the net proceeds from the 2020 Note Offering to repurchase 2,414,681 shares of our common stock concurrently with the closing of the 2020 Note Offering from certain of the Initial Purchasers in privately negotiated transactions. The agreed to purchase price per share of common stock in the Repurchases is equal to $31.06, which was the last reported sale price per share of our common stock on The Nasdaq Global Select Market (“Nasdaq”) on March 4, 2020. The shares repurchased are recorded as treasury stock.

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 and the maturity date for the entire facility was July 1, 2022. 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 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 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 BridgeBio’s IPO triggered certain provisions of the Second Amendment to the Loan and Security Agreement. BridgeBio 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 “Modified Amortization Date”) and the entire facility received a maturity date of January 1, 2023 (the “Modified Maturity Date”). The outstanding balance of the Amended Hercules Term Loan was to be repaid by BridgeBio monthly beginning on the Modified Amortization Date and extending through the Modified Maturity Date.

Under the Second Amendment to the Loan and Security Agreement, the interest rate for the 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.

In March 2020, we executed the Third Amendment to the Loan and Security Agreement primarily to allow us to issue our 2027 Notes and to enter into the Capped Call and Share Repurchase Transactions.

In April 2020, we entered into the Fourth Amendment to the Loan and Security Agreement (the “Amended Hercules Term Loan”), which among other things:

(1)

extended the interest-only period under the Loan and Security Agreement to July 1, 2022 (the “Amended Amortization Date” which may be further extended to January 1, 2023 and July 1, 2023, in each case, subject to certain conditions set forth in the Amended Hercules Term Loan);

(2)

extended the maturity date for the term loans under the Loan and Security Agreement to November 1, 2023 (the “Amended Maturity Date”, which may be further extended to May 1, 2024, subject to certain conditions set forth in the Amended Hercules Term Loan);

(3)

provided for an interest rate on the Tranche I equal to the greater of (x) a floating interest rate linked to the prime rate as reported in the Wall Street Journal plus 3.85% and (y) 8.75% (8.75% as of December 31, 2020), payable monthly;

(4)

provided for an interest rate on the Tranche II equal to the greater of (x) a floating interest rate linked to the prime rate as reported in the Wall Street Journal plus 2.85% and (y) 8.60% (8.60% as of December 31, 2020), payable monthly;

(5)

provided for an interest rate on the Tranche III equal to the greater of (x) a floating interest rate linked to the prime rate as reported in the Wall Street Journal plus 3.10% and (y) 8.85% (8.85% as of December 31, 2020), payable monthly; and

(6)

provided for, subject to Hercules’ approval in its sole and absolute discretion, an additional increase in available loan facilities aggregating to $125.0 million as follows: (a) an additional incremental loan in the amount of $25.0 million, available no later than December 15, 2020, (b) an additional incremental loan in the amount of $25.0 million, available no later than December 15, 2021, (c) an additional incremental loan following the achievement of certain performance milestones in the amount of $25.0 million, available no later than December 15, 2021 and (d) an additional $50.0 million discretionary incremental tranche, available no later than December 15, 2022.

The Amended Hercules Term Loan also provides us with more flexibility to consummate acquisitions and investments, incur additional debt, dispose of assets and repurchase and/or redeem stock, each subject to certain conditions set forth in the Amended Hercules Term Loan. There were no gains or losses arising from the amendment, which is considered a debt modification.

We did not draw the incremental loan of $25.0 million that was available until December 15, 2020. There have not been any additional draws on the $100.0 million additional available facilities as of December 31, 2020.

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 significant 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.

In January 2021, we executed the Fifth Amendment to the Loan and Security Agreement primarily to allow us to issue our 2029 Notes and to enter into the related capped call and share repurchase transactions, as discussed in Note 18.

During the years ended December 31, 2020, 2019 and 2018, we recognized interest expense related to the Amended Hercules Term Loan of $7.9 million, $8.3 million and $2.4 million, respectively, of which $1.3 million, $1.4 million and $0.5 million, respectively, relates to amortization of debt discount.

The term loans balance is as follows:

	December 31,
	2020		2019
	(in thousands)
Principal value of term loans	$	75,000	$	75,000
Debt issuance costs and debt accretion		1,936		679
Term loans, noncurrent	$	76,936	$	75,679

Future minimum payments of principal and estimated payments of interest on our outstanding variable rate borrowings as of December 31, 2020 are as follows:

	Amount
	(in thousands)
Year Ending December 31:
2021	$	6,644
2022		40,216
2023		47,146
Total future payments		94,006
Less amounts representing interest		(14,483	)
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, 2020, including the available Tranche B loan of up to $22.5 million that was available to be drawn until October 31, 2020.

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, 2020). 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.

In January 2021, Eidos entered into an amendment to the SVB and Hercules Loan Agreement primarily to allow Eidos to enter into the Merger Transactions (see Note 18). The amendment also requires Eidos to maintain a certain amount of cash and cash equivalents with SVB.

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, 2020 and 2019 based on a probability weighted valuation of certain event outcomes and discounted to the present value. The key valuation assumptions used as of December 31, 2020 and 2019 consist of the discount rate of 12.6% and 11.6%, respectively, 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 $1.3 million and $1.2 million as of December 31, 2020 and 2019 and was classified as part of “Other liabilities” on the consolidated balance sheets. There was immaterial change in the fair value of the derivative liability for the years ended December 31, 2020 and 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, 2020 and 2019, the net carrying value of the Tranche A loan was $16.9 million and $16.1 million, respectively. As of December 31, 2020 and 2019, there are unamortized debt discounts of $1.6 million and $2.4 million, respectively. Eidos recorded interest expense and amortization of the debt discount in the amount of $2.3 million and $0.3 million on the Tranche A loan for the years ended December 31, 2020 and 2019, respectively.

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, 2020:

	Amount
	(in thousands)
Year Ending December 31:
2021	$	2,961
2022		9,787
2023		8,622
Total future payments		21,370
Less amounts representing interest		(3,870	)
Total principal amount of term loan payments	$	17,500

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, 2020	Dec. 31, 2019	Dec. 31, 2018
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Expected term (in years)	6 months	6 months	5 months 23 days
Expected volatility	75.46%	63.06%	70.40%
Risk-free interest rate	0.84%	2.32%	1.50%

Cash Equivalents and Marketable Securities - Schedule of Cash Equivalent and Marketable Securities Classified as Available-for-Sale (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Cash And Cash Equivalents [Line Items]
Amortized Cost Basis Cash Equivalents		$ 307,736
Total cash equivalents		307,736
Amortized Cost Basis	$ 517,256	520,846
Unrealized Gains	196	254
Unrealized Losses	(4)
Estimated Fair Value	517,448	521,100
Money Market Funds
Cash And Cash Equivalents [Line Items]
Amortized Cost Basis Cash Equivalents	266,437	248,736
Total cash equivalents	266,437	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	250,819	182,081
Unrealized Gains	196	139
Unrealized Losses	(4)
Estimated Fair Value	251,011	182,220
Short-term Marketable Securities \| U.S. Treasury Bills
Cash And Cash Equivalents [Line Items]
Amortized Cost Basis	14,996
Unrealized Gains	3
Estimated Fair Value	14,999
Short-term Marketable Securities \| U.S. Treasury Notes
Cash And Cash Equivalents [Line Items]
Amortized Cost Basis	45,292	45,224
Unrealized Gains	100	56
Unrealized Losses	(1)
Estimated Fair Value	45,391	45,280
Short-term Marketable Securities \| Commercial Paper
Cash And Cash Equivalents [Line Items]
Amortized Cost Basis	144,851	65,626
Estimated Fair Value	144,851	65,626
Short-term Marketable Securities \| Corporate Debt Securities
Cash And Cash Equivalents [Line Items]
Amortized Cost Basis	45,680	71,231
Unrealized Gains	93	83
Unrealized Losses	(3)
Estimated Fair Value	$ 45,770	71,314
Long-term Marketable Securities
Cash And Cash Equivalents [Line Items]
Amortized Cost Basis		31,029
Unrealized Gains		115
Estimated Fair Value		31,144
Long-term Marketable Securities \| U.S. Treasury Notes
Cash And Cash Equivalents [Line Items]
Amortized Cost Basis		15,248
Unrealized Gains		59
Estimated 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
Estimated Fair Value		$ 15,837

Income Taxes - Additional Information (Details) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Operating Loss Carryforwards [Line Items]
Income tax expense, domestic	$ 0	$ 0	$ 0
Income tax expense, foreign	0	0	0
Deferred tax expense, domestic	0	0	0
Deferred tax expense, foreign	$ 0	0	$ 0
Net operating loss carryforwards, expiration year	2036
Federal Net Operating Losses	$ 820,700,000			$ 31,800,000
Percentage of taxable income limitation in utilization of operating loss carry forward	80.00%
Federal net operating losses, expiration year				2036
Deferred tax liability	$ 1,095,000
Increase in valuation allowance	95,500,000	79,200,000
Unrecognized tax benefits, income tax penalties and interest expense	0	$ 0
Federal
Operating Loss Carryforwards [Line Items]
Net operating loss carryforwards	852,500,000
Federal \| Research and Development and Orphan Drug
Operating Loss Carryforwards [Line Items]
Tax credit carryforwards	$ 41,000,000.0
Tax credit carryforward, expiration year	2037
State \| Research and Development
Operating Loss Carryforwards [Line Items]
Tax credit carryforwards	$ 6,300,000
State \| California
Operating Loss Carryforwards [Line Items]
Net operating loss carryforwards	$ 177,900,000

Voting Interest Model

12 Months Ended

Dec. 31, 2020

Voting Interest Model [Abstract]

Voting Interest Model

5.	Voting Interest Model - Eidos

Eidos is a clinical-stage biopharmaceutical company focused on the development of acoramidis (formerly AG10 or 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, 2020, 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, 2020, 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 further described in Note 11.

Eidos Shelf Registration

On August 2, 2019, Eidos filed a shelf registration statement on Form S-3 (the “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 (the “2019 Sales Agreement”) with the sales agents named therein (the “Sales Agents”), 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 Agents 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. Eidos issued 448,755 shares under this offering and received $24.1 million of net proceeds in February 2020. As a result of the completion of the Merger Transactions with Eidos on January 26, 2021, Eidos’ common stock ceased to trade on the Nasdaq Global Select Market prior to the opening of business on January 26, 2021, the 2019 Sales Agreement was terminated and the 2019 Shelf was deregistered with the SEC (see Note 18).

Merger Agreement with Eidos

On October 5, 2020, we entered into an Agreement and Plan of Merger (the “Merger Agreement”) with Eidos, Globe Merger Sub I, Inc. (“Merger Sub”) and Globe Merger Sub II, Inc. (“Merger Sub II”) (the two latter companies being our indirect wholly-owned subsidiaries), providing for, in a series of merger transactions (the “Merger Transactions”), the acquisition by us of all of the outstanding shares of common stock of Eidos (the “Eidos Common Stock”) other than shares of Eidos Common Stock that (i) are owned by Eidos as treasury stock, (ii) are owned by us and our subsidiaries and, in each case, not owned on behalf of third parties and (iii) are subject to an Eidos Restricted Share Award (as defined below). Under the Merger Agreement, the stockholders of Eidos will have the right to receive, at their election, either 1.85 shares of our common stock or $73.26 in cash per Eidos share in the transaction, subject to proration as necessary to ensure that the aggregate amount of cash consideration is no greater

than $175.0 million. In addition, immediately prior to the effective time of the merger of Merger Sub with and into Eidos (the “Effective Time”), (i) each option to purchase Eidos Common Stock (an “Eidos Option”) will be converted into an option, on the same terms and conditions applicable to such Eidos Option immediately prior to the Effective Time, to purchase a specified number of shares of BridgeBio common stock, calculated pursuant to the terms of the Merger Agreement, and (ii) each outstanding award of shares of Eidos Common Stock that is subject to forfeiture conditions (subject to certain exceptions) (each, an “Eidos Restricted Share Award”) will be converted into an award, on the same terms and conditions applicable to such Eidos Restricted Share Award immediately prior to the Effective Time, covering a number of whole restricted shares of BridgeBio common stock, calculated pursuant to the terms of the Merger Agreement, with any fractional shares being paid out to the holder of such Eidos Restricted Share Award in cash.

The Merger Transactions were subject to various closing conditions, including, but not limited to: (i) approval of the majority of the outstanding shares of Eidos Common Stock, (ii) approval of a majority of the shares of Eidos Common Stock held by stockholders other than (A) us and any person or entity controlling, controlled by or under common control with us (any such person, an “Affiliate”) (including Merger Sub and Merger Sub II), (B) any of our directors or officers or our Affiliates’ directors or officers (including Merger Sub and Merger Sub II) and (C) any director or officer of Eidos (other than members of the special committee of independent directors of Eidos (the “Eidos Special Committee”)); (iii) approval of at least 66 and 2/3% of the aggregate voting stock (as defined in Section 203 of the Delaware General Corporation Law (the “DGCL”)) of Eidos that is not owned (as defined in Section 203 of the DGCL) by BridgeBio, Merger Sub, Merger Sub II or any of their respective affiliates or associates (as such terms are defined in Section 203 of the DGCL); (iv) approval of the issuance of our common stock in connection with the Merger Transactions by at least a majority of the votes cast by the holders of shares of our common stock voting on the matter; (v) the absence of any statute, rule, order, decree or regulation prohibiting the Mergers; (vi) the approval for listing of the common stock issuable to the holders of Eidos Common Stock on Nasdaq; (vii) the SEC having declared effective our Form S-4 registration statement, which would contain our joint proxy statement/prospectus with Eidos in connection with the Merger Transactions; and (viii) subject to certain materiality exceptions, the accuracy of certain representations and warranties by us and Eidos contained in the Merger Agreement and the compliance by each party with the covenants contained in the Merger Agreement. In connection with the execution of the Merger Agreement, Eidos entered into voting agreements with members of our Board of Directors and KKR Genetic Disorder L.P., collectively owning approximately 36% of our outstanding common stock, pursuant to which they agreed, among other things, to vote their shares in favor of the issuance of our common stock in connection with the Merger Transactions.

The Merger Agreement included customary representations, warranties and covenants, including, but not limited to, covenants by us and Eidos to conduct our businesses in the ordinary course during the period between the execution of the Merger Agreement and consummation of the Merger Transactions and to refrain from taking certain actions specified in the Merger Agreement.

The Merger Agreement may be terminated, among other circumstances, (i) by either party if the Merger Transactions are not consummated by June 4, 2021, (ii) by Eidos if our Board of Directors changes its recommendation with respect to the issuance of shares of our common stock in connection with the Merger Transactions or (iii) by us if the Eidos board of directors or the Eidos Special Committee changes its recommendation with respect to the Merger Transactions. The Merger Agreement further provides that upon termination of the Merger Agreement under certain circumstances, Eidos must pay us a termination fee of $35.0 million, and upon termination of the Merger Agreement under certain circumstances, we must pay Eidos a termination fee of $100.0 million.

On January 26, 2021, we closed and completed the Merger Transactions (see Note 18).

Income Taxes - Reconciliation of Statutory Federal Rate and Effective Tax Rate (Details)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Income Tax Disclosure [Abstract]
Tax at statutory federal rate	21.00%	21.00%	21.00%
Change in valuation allowance	(25.00%)	(25.30%)	(20.20%)
Research and development credits	3.30%	4.10%	1.60%
Stock-based compensation	1.00%
Change in entity status		1.70%
Nontaxable partnership income		(1.40%)	(1.20%)
Other	(0.30%)	(0.10%)	(1.20%)

Stock-Based Compensation - Summary of Vested Equity-Based Awards Activity (Details) - Management Incentive Units and Common Units - BBP LLC - $ / shares	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Unvested Shares of Restricted Stock Outstanding, Beginning balance	4,639,317	2,811,694
Unvested Shares of Restricted Stock Outstanding, Vested	1,122,808	1,827,623
Unvested Shares of Restricted Stock Outstanding, BBP LLC units converted into shares of unvested restricted stock of BridgeBio	(5,762,125)
Unvested Shares of Restricted Stock Outstanding, Ending balance		4,639,317
Weighted-Average Grant Date Fair Value, Beginning balance	$ 0.45	$ 0.34
Weighted-Average Grant Date Fair Value, Vested	2.10	0.62
Weighted-Average Grant Date Fair Value, BBP LLC units converted into shares of unvested restricted stock of BridgeBio	$ 0.72
Weighted-Average Grant Date Fair Value, Ending balance		$ 0.45

Leases

12 Months Ended

Dec. 31, 2020

Leases [Abstract]

Leases

13. Leases

We have operating leases for our corporate headquarters, office spaces and a laboratory facility.

One of our office space leases has a finance lease component representing lessor provided furniture and office equipment wherein we have assessed that we have the right to obtain substantially all of the economic benefits from use of these assets throughout the term of the lease. The assets acquired under this finance lease included in “Property and equipment, net” in the consolidated balance sheet was immaterial as of December 31, 2020.

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

The components of lease cost for the year ended December 31, 2020 are as follows:

	Amount
	(in thousands)
Straight line operating lease costs	$	3,786
Interest on finance lease liability		9
Variable lease costs		832
Total lease cost	$	4,627

Supplemental cash flow information related to leases are as follows:

	Amount
	(in thousands)
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows for operating leases	$	4,169
Operating cash flows for finance lease — cash paid for interest		9
Financing cash flows for finance lease — cash paid for principal		25
Right-of-use assets obtained in exchange of lease obligations
Operating leases		19,595
Finance lease		1,726

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

	Amount
	(in thousands)
Weighted-average remaining lease term (in years)
Operating leases		5.1
Finance lease		5.1
Weighted-average discount rate
Operating leases		6.24	%
Finance lease		6.62	%

As of December 31, 2020, future minimum lease payments for our noncancelable operating and finance leases under ASC 842 are as follows:

	Operating Leases			Finance Lease
	(in thousands)
Year ending December 31:
2021	$	4,825		$	238
2022		4,291			420
2023		3,434			432
2024		3,231			445
2025		3,430			459
Thereafter		2,608			37
Total future minimum lease payments		21,819			2,031
Imputed interest		(3,347	)		(330	)
Total	$	18,472		$	1,701

Reported as of December 31, 2020
Operating lease liabilities, current portion	$	3,795
Operating lease liabilities, net of current portion		14,677
Total operating lease liabilities	$	18,472
Finance lease liability, current portion — Included in "Other accrued liabilities"				$	128
Finance lease liability, net of current portion — Included in "Other liabilities"					1,573
Total finance lease liability				$	1,701

As of December 31, 2020, we have operating leases for facilities that have not yet commenced, since we have not obtained the right to control the assets while the lessors perform the construction of necessary improvements, with aggregated undiscounted future payments of $6.0 million. These operating leases will commence throughout fiscal year 2021 and have lease terms ranging from five to twelve years and, therefore, we did not reflect these on the consolidated balance sheet as of December 31, 2020 and the tables above.

As of December 31, 2019, future minimum lease payments for our noncancelable operating leases under ASC 840 were 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 under ASC 840 for the years ending December 31, 2019 and 2018 was $2.8 million and $1.5 million, respectively.

Manufacturing Agreement

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 BridgeBio. Unless terminated as allowed within the manufacturing agreement, the agreement will expire five 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.

Prior to the adoption of ASC 842, we were deemed to be the owner, for accounting purposes, during the construction phase of the dedicated manufacturing suite because of our exposure to substantially all of the construction period risks and our other commitments under the arrangement. As of December 31, 2019, we recorded the $10.0 million one-time fee as a non-current asset and the remaining build-to-suit lease liability of $8.0 million within our consolidated balance sheets.

As of January 1, 2020, upon adoption of ASC 842, we derecognized the build-to-suit lease asset of $10.0 million as we do not control the dedicated manufacturing suite during the construction phase. Under the new lease guidance, we recorded a construction-in-progress asset of $10.0 million for the payments directly associated with the dedicated manufacturing suite as these payments are deemed to represent a non-lease component. The construction phase and readiness determination of the dedicated manufacturing suite is expected to be completed in early 2021. The remaining $4.0 million payable related to the dedicated manufacturing suite is recorded as part of “Other accrued liabilities” as of December 31, 2020.

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, 2020	Dec. 31, 2019	Dec. 31, 2018
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of diluted net loss per share	29,240,319	10,722,263	5,355,166
Unvested RSAs
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of diluted net loss per share	3,364,366	5,603,452	5,355,166
Unvested RSUs
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of diluted net loss per share	1,053,838	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	2,380	129,871
Unvested Performance-Based RSUs
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of diluted net loss per share	73,304
Unvested Performance-Based RSAs
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of diluted net loss per share	22,611
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	7,632,961	4,626,777
Estimated Shares Issuable Under Performance-Based Milestone Compensation Arrangements
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of diluted net loss per share	4,161,970
Estimated Shares Issuable Under the ESPP
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of diluted net loss per share	50,584
Assumed Conversion of 2027 Notes
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of diluted net loss per share	12,878,305

Noncontrolling Interests

12 Months Ended

Dec. 31, 2020

Noncontrolling Interest [Abstract]

Noncontrolling Interests

6.	Noncontrolling Interests

As of December 31, 2020 and 2019, 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 interests 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, 2020, 2019 and 2018, such adjustments in the aggregate amounts of $(12.0) million, $28.6 million and $(21.6) million, respectively, are recorded to additional paid-in capital. All such adjustments are disclosed within the “Transfers from (to) 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. The net exercise of the Eidos Warrants upon the Eidos IPO is presented as the issuance of noncontrolling interest in the consolidated statements of redeemable convertible noncontrolling interests and stockholders’ equity.

As of December 31, 2020 and 2019, the significant components of the noncontrolling interest balances pertain mainly to Eidos. Upon closing and completion of the Merger Transactions with Eidos on January 26, 2021 (see Note 18), Eidos became our wholly-owned subsidiary and the balance of the noncontrolling interest in Eidos was reduced to zero.

Stock-Based Compensation - Summary of Restricted Stock Award Activity under Plans (Details) - Restricted Stock Awards - A&R 2019 Plan and 2019 Inducement Plan	12 Months Ended
	Dec. 31, 2020 $ / shares shares
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Unvested Shares of Restricted Stock Outstanding, Beginning balance	5,603,452
Unvested Shares of Restricted Stock Outstanding, Granted	50,145
Granted — Performance-based milestone awards	73,248
Unvested Shares of Restricted Stock Outstanding, Vested	(2,362,479)
Unvested Shares of Restricted Stock Outstanding, Ending balance	3,364,366
Weighted-Average Grant Date Fair Value, Beginning balance \| $ / shares	$ 3.63
Weighted-Average Grant Date Fair Value, Granted ? Performance-based milestone awards \| $ / shares	27.27
Weighted-Average Grant Date Fair Value, Vested \| $ / shares	3.09
Weighted-Average Grant Date Fair Value, Ending balance \| $ / shares	$ 4.47
2020 Stock and Equity Award Exchange Program
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Weighted-Average Grant Date Fair Value, Granted	0.18

Commitments and Contingencies - Additional Information (Detail) - USD ($)	Dec. 31, 2020	Dec. 31, 2019
Commitments And Contingencies [Line Items]
Accrued termination charges	$ 0	$ 0
Maximum
Commitments And Contingencies [Line Items]
Potential milestone amount	$ 267,400,000

Summary of Significant Accounting Policies - Additional Information (Details)		12 Months Ended
	Jan. 01, 2020 USD ($)	Dec. 31, 2020 USD ($) Segment	Dec. 31, 2019 USD ($)	Dec. 31, 2018 USD ($)	Mar. 09, 2020
Summary Of Significant Accounting Policies [Line Items]
Percentage of voting interest of investee		20.00%
Impairment charge on equity and cost method investments		$ 0	$ 0	$ 0
Restricted cash		$ 2,600,000	$ 400,000
Cash, cash equivalents and restricted cash maturity period		90 days
Impairment of long-lived assets		$ 0
Number of operating segments \| Segment		1
Number of business segments \| Segment		1
Interest or penalties related to unrecognized tax benefits		$ 0
Aggregate market value of voting and non voting common equity held by non affiliates		700,000,000
Operating lease right-of-use assets		16,508,000
Operating lease liabilities		$ 18,472,000
ASU 2016-02
Summary Of Significant Accounting Policies [Line Items]
Operating lease right-of-use assets	$ 9,200,000
Operating lease liabilities	11,500,000
Deferred rent balance	2,300,000
Change in accounting principle, accounting standards update, adopted		true
Change in accounting principle, accounting standards update, adoption date		Jan. 01, 2020
Change in accounting principle, accounting standards update, immaterial effect		true
ASU 2016-02 \| Other Accrued Liabilities
Summary Of Significant Accounting Policies [Line Items]
New accounting pronouncement effect of adoption	8,000,000.0
ASU 2016-02 \| Build To Suit Lease Asset
Summary Of Significant Accounting Policies [Line Items]
New accounting pronouncement effect of adoption	(10,000,000.0)
ASU 2016-02 \| Construction in Progress
Summary Of Significant Accounting Policies [Line Items]
New accounting pronouncement effect of adoption	10,000,000.0
ASU 2016-02 \| Build To Suit Lease Liability
Summary Of Significant Accounting Policies [Line Items]
New accounting pronouncement effect of adoption	$ (8,000,000.0)
ASU 2016-13
Summary Of Significant Accounting Policies [Line Items]
Change in accounting principle, accounting standards update, adopted		true
Change in accounting principle, accounting standards update, immaterial effect		true
ASU 2018-13
Summary Of Significant Accounting Policies [Line Items]
Change in accounting principle, accounting standards update, adopted		true
Change in accounting principle, accounting standards update, immaterial effect		true
Accounting Standards Update 2018-15
Summary Of Significant Accounting Policies [Line Items]
Change in accounting principle, accounting standards update, adopted		true
Change in accounting principle, accounting standards update, adoption date		Jan. 01, 2020
Change in accounting principle, accounting standards update, immaterial effect		true
Change in accounting principle, accounting standards update, early adoption		true
ASU 2019-12
Summary Of Significant Accounting Policies [Line Items]
Change in accounting principle, accounting standards update, adopted		true
Change in accounting principle, accounting standards update, adoption date		Jan. 01, 2020
Change in accounting principle, accounting standards update, immaterial effect		true
Revenue Benchmark \| Geographical Risk
Summary Of Significant Accounting Policies [Line Items]
Percentage of concentration risk				0.00%
Revenue Benchmark \| Geographical Risk \| Shanghai, China
Summary Of Significant Accounting Policies [Line Items]
Percentage of concentration risk		97.00%
Revenue Benchmark \| Geographical Risk \| United States \| Alexion Pharmaceuticals
Summary Of Significant Accounting Policies [Line Items]
Percentage of concentration risk			66.00%
2027 Notes
Summary Of Significant Accounting Policies [Line Items]
Stated interest rate		2.50%			2.50%
Biotech Company \| Revenue Benchmark \| Geographical Risk \| Shanghai, China
Summary Of Significant Accounting Policies [Line Items]
Percentage of concentration risk			34.00%
Biotech Company \| Common Stock
Summary Of Significant Accounting Policies [Line Items]
Holding percentage of outstanding common stock		6.00%	10.00%
Minimum
Summary Of Significant Accounting Policies [Line Items]
Percentage of voting shares		50.00%
Maximum \| BBP LLC \| Management Incentive Units and Common Units
Summary Of Significant Accounting Policies [Line Items]
Stock awards, vesting period		5 years

Leases (Tables)

12 Months Ended

Dec. 31, 2020

Leases [Abstract]

Components of Lease Cost

The components of lease cost for the year ended December 31, 2020 are as follows:

	Amount
	(in thousands)
Straight line operating lease costs	$	3,786
Interest on finance lease liability		9
Variable lease costs		832
Total lease cost	$	4,627

Schedule of Supplemental Cash Flow Information Related to Leases

Supplemental cash flow information related to leases are as follows:

	Amount
	(in thousands)
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows for operating leases	$	4,169
Operating cash flows for finance lease — cash paid for interest		9
Financing cash flows for finance lease — cash paid for principal		25
Right-of-use assets obtained in exchange of lease obligations
Operating leases		19,595
Finance lease		1,726

Schedule of Supplemental Information Related to Remaining Lease Term and Discount Rate

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

	Amount
	(in thousands)
Weighted-average remaining lease term (in years)
Operating leases		5.1
Finance lease		5.1
Weighted-average discount rate
Operating leases		6.24	%
Finance lease		6.62	%

Schedule of Future Minimum Lease Payments for Noncancelable Operating and Finance Leases under ASC 842

As of December 31, 2020, future minimum lease payments for our noncancelable operating and finance leases under ASC 842 are as follows:

	Operating Leases			Finance Lease
	(in thousands)
Year ending December 31:
2021	$	4,825		$	238
2022		4,291			420
2023		3,434			432
2024		3,231			445
2025		3,430			459
Thereafter		2,608			37
Total future minimum lease payments		21,819			2,031
Imputed interest		(3,347	)		(330	)
Total	$	18,472		$	1,701

Reported as of December 31, 2020
Operating lease liabilities, current portion	$	3,795
Operating lease liabilities, net of current portion		14,677
Total operating lease liabilities	$	18,472
Finance lease liability, current portion — Included in "Other accrued liabilities"				$	128
Finance lease liability, net of current portion — Included in "Other liabilities"					1,573
Total finance lease liability				$	1,701

Schedule of Future Minimum Lease Payments for Noncancelable Operating Leases under ASC 840

As of December 31, 2019, future minimum lease payments for our noncancelable operating leases under ASC 840 were 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

Stock-Based Compensation - Summary of Activity Under Eidos Equity Incentive Plans (Details) - Eidos - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Beginning balance, Awards available for grant	1,935,054
Granted, Awards available for grant	(685,017)
Cancelled, Awards available for grant	23,762
Ending balance, Awards available for grant	1,273,799	1,935,054
Options Outstanding, Outstanding, Beginning balance	1,335,755
Options Outstanding, Granted	685,017
Options Outstanding, Exercised	(461,732)
Options Outstanding, Cancelled	(23,762)
Options Outstanding, Outstanding, Ending balance	1,535,278	1,335,755
Options Outstanding, Exercisable	371,768
Options Outstanding, Vested and expected to vest	1,535,278
Weighted-Average Exercise Price per Option, Outstanding, Beginning balance	$ 16.91
Weighted-Average Exercise Price per Option, Granted	46.39
Weighted-Average Exercise Price per Option, Exercised	17.96
Weighted-Average Exercise Price per Option, Cancelled	19.45
Weighted-Average Exercise Price per Option, Outstanding, Ending balance	29.71	$ 16.91
Weighted-Average Exercise Price per Option, Exercisable	18.73
Weighted-Average Exercise Price per Option, vested and expected to vest	$ 29.71
Weighted-Average Remaining Contractual Life (years), Outstanding, Ending balance	8 years 5 months 15 days	8 years 9 months 7 days
Weighted-Average Remaining Contractual Life (years), Exercisable	7 years 10 months 9 days
Weighted-Average Remaining Contractual Life (years), Options vested and expected to vest	8 years 5 months 15 days
Aggregate Intrinsic Value, Outstanding, Ending balance	$ 156,399	$ 54,071
Aggregate Intrinsic Value, Exercisable	41,954
Aggregate Intrinsic Value, Option vested and expected to vest	$ 156,399

Summary of Significant Accounting Policies - Summary of Estimated Useful Lives of our Property and Equipment (Details)	12 Months Ended
	Dec. 31, 2020
Furniture and office equipment \| Minimum
Property Plant And Equipment [Line Items]
Estimated Useful Life	3 years
Furniture and office equipment \| Maximum
Property Plant And Equipment [Line Items]
Estimated Useful Life	5 years
Laboratory And Machinery Equipment \| Minimum
Property Plant And Equipment [Line Items]
Estimated Useful Life	3 years
Laboratory And Machinery Equipment \| Maximum
Property Plant And Equipment [Line Items]
Estimated Useful Life	15 years
Leasehold Improvements
Property Plant And Equipment [Line Items]
Estimated Useful Life	Shorter of remaining lease term or estimated useful life of the related asset

Document and Entity Information - USD ($)	12 Months Ended
Document and Entity Information - USD ($)	Dec. 31, 2020	Feb. 19, 2021	Jun. 30, 2020
Cover [Abstract]
Document Type	10-K
Amendment Flag	false
Document Period End Date	Dec. 31, 2020
Document Fiscal Year Focus	2020
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	Large Accelerated Filer
Entity Current Reporting Status	Yes
Entity Small Business	false
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	true
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		148,956,329
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	Yes
Entity Public Float			$ 1,694.0
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 2021 Annual Meeting of Stockholders, which is expected to be filed not later than 120 days after the registrant’s fiscal year ended December 31, 2020, 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.

Equity Method and Other Investments in Equity Method Investees (Tables)

12 Months Ended

Dec. 31, 2020

Equity Method And Cost Method Investment [Abstract]

Schedule of Amounts Related to Deconsolidation Accounting

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.

In-licensing Agreements

12 Months Ended

Dec. 31, 2020

In Licensing Agreements [Abstract]

In-licensing Agreements

12.	In-licensing 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, 2020, 2019 and 2018, Eidos recognized research and development expense of zero, $0.2 million and $0.3 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 Eidos-Alexion License Agreement (see Note 11).

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, 2020, 2019 and 2018, TheRas recognized research and development expense of $0.1 million, $0.4 million and $0.1 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, 2020, 2019 and 2018, TheRas recognized research and development expenses of $2.3 million, $1.9 million and $0.9 million, respectively, in connection with the Leidos Agreements.

Foundation Medicine Diagnostics Agreement

In November 2018, QED and Foundation Medicine, Inc. entered into a diagnostics agreement relating to QED’s drug discovery and development initiatives. During the years ended December 31, 2020, 2019 and 2018, QED recognized research and development expenses of $4.8 million, $1.6 million and zero, respectively, in connection with this agreement.

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.

Stock-Based Compensation - Summary of Market-Based Restricted Stock Unit Activity (Details) - Market Based Restricted Stock Units	12 Months Ended
	Dec. 31, 2020 $ / shares shares
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Unvested Shares of Restricted Stock Outstanding, Beginning balance \| shares	129,871
Unvested Shares of Restricted Stock Outstanding, Granted \| shares	2,380
Unvested Shares of Restricted Stock Outstanding, Vested \| shares	(76,637)
Unvested Shares of Restricted Stock Outstanding, Cancelled \| shares	(53,234)
Unvested Shares of Restricted Stock Outstanding, Ending balance \| shares	2,380
Weighted-Average Grant Date Fair Value, Beginning balance \| $ / shares	$ 28.98
Weighted-Average Grant Date Fair Value, Granted \| $ / shares	34.81
Weighted-Average Grant Date Fair Value, Vested \| $ / shares	41.54
Weighted-Average Grant Date Fair Value, Cancelled \| $ / shares	10.90
Weighted-Average Grant Date Fair Value, Ending balance \| $ / shares	$ 34.81

Consolidated Balance Sheets (Parenthetical) - $ / shares	Dec. 31, 2020	Dec. 31, 2019
Statement Of Financial Position [Abstract]
Preferred stock, par value	$ 0.001	$ 0.001
Preferred stock, shares authorized	25,000,000	25,000,000
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	500,000,000
Common stock, shares issued	125,264,070	123,658,287
Common stock, shares outstanding	122,849,389	123,658,287
Treasury stock, shares	2,414,681	0

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
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
Stock issuance costs	$ 34,538
Shares issued, price per share	$ 17.00

Net Loss Per Share (Tables)

12 Months Ended

Dec. 31, 2020

Earnings Per Share [Abstract]

Schedule of Common Stock Equivalents were Excluded from Computation of Diluted Net Loss per Share

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,
	2020		2019		2018
Unvested RSAs		3,364,366		5,603,452		5,355,166
Unvested RSUs		1,053,838		362,163	—
Unvested market-based RSUs		2,380		129,871	—
Unvested performance-based RSUs		73,304	—		—
Unvested performance-based RSAs		22,611	—		—
Common stock options issued and outstanding		7,632,961		4,626,777	—
Estimated shares issuable under performance-based milestone compensation arrangements		4,161,970	—		—
Estimated shares issuable under the ESPP		50,584	—		—
Assumed conversion of 2027 Notes		12,878,305	—		—
		29,240,319		10,722,263		5,355,166

Net Loss Per Share

12 Months Ended

Dec. 31, 2020

Earnings Per Share [Abstract]

Net Loss Per Share

17.	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, 2020, 2019 and 2018, 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,
	2020		2019		2018
Unvested RSAs		3,364,366		5,603,452		5,355,166
Unvested RSUs		1,053,838		362,163	—
Unvested market-based RSUs		2,380		129,871	—
Unvested performance-based RSUs		73,304	—		—
Unvested performance-based RSAs		22,611	—		—
Common stock options issued and outstanding		7,632,961		4,626,777	—
Estimated shares issuable under performance-based milestone compensation arrangements		4,161,970	—		—
Estimated shares issuable under the ESPP		50,584	—		—
Assumed conversion of 2027 Notes		12,878,305	—		—
		29,240,319		10,722,263		5,355,166

Our 2027 Notes issued in March 2020 are convertible, based on the applicable conversion rate, into cash, shares of our common stock or a combination thereof, at our election. The impact of the assumed conversion to diluted net income per share would be computed using the treasury stock method.

As discussed in Notes 9 and 15, we have performance-based milestone compensation arrangements, 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 equity at our sole election, upon achievement of each contingent milestone. The common stock equivalents of such arrangements were estimated assuming the contingent milestones were achieved as of the reporting date and the arrangements were all settled in equity.

Debt (Tables)

12 Months Ended

Dec. 31, 2020

Hercules Capital, Inc

Debt Instrument [Line Items]

Schedule of Loans Balances

The term loans balance is as follows:

	December 31,
	2020		2019
	(in thousands)
Principal value of term loans	$	75,000	$	75,000
Debt issuance costs and debt accretion		1,936		679
Term loans, noncurrent	$	76,936	$	75,679

Schedule of Future Minimum Payments

Future minimum payments of principal and estimated payments of interest on our outstanding variable rate borrowings as of December 31, 2020 are as follows:

	Amount
	(in thousands)
Year Ending December 31:
2021	$	6,644
2022		40,216
2023		47,146
Total future payments		94,006
Less amounts representing interest		(14,483	)
Less final end of term payment		(4,523	)
Total principal amount of term loan payments	$	75,000

2027 Notes

Debt Instrument [Line Items]

Schedule of Loans Balances

The outstanding 2027 Notes balances consisted of the following as of December 31, 2020:


	Amount
	(in thousands)
Liability component
Principal	$	550,000
Unamortized debt discount		(158,404	)
Unamortized debt issuance costs		(8,160	)
Net carrying amount	$	383,436
Equity component, net of issuance costs	$	169,173

Schedule of Total Interest Expense Recognized Related to 2027 Notes

The following table sets forth the total interest expense recognized related to the 2027 Notes for the year ended December 31, 2020:


	Amount
	(in thousands)
Contractual interest expense	$	11,153
Amortization of debt discount		14,877
Amortization of debt issuance costs		772
Total interest and amortization expense	$	26,802

Schedule of Future Minimum Payments

Future minimum payments under the 2027 Notes as of December 31, 2020, are as follows:

	Amount
	(in thousands)
Year ending December 31:
2021	$	13,750
2022		13,750
2023		13,750
2024		13,750
2025		13,750
Thereafter		570,625
Total future payments		639,375
Less amounts representing interest		(89,375	)
Total principal amount	$	550,000

Tranche A Loan [Member] | Eidos

Debt Instrument [Line Items]

Schedule of 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, 2020:

	Amount
	(in thousands)
Year Ending December 31:
2021	$	2,961
2022		9,787
2023		8,622
Total future payments		21,370
Less amounts representing interest		(3,870	)
Total principal amount of term loan payments	$	17,500

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.22)
-URI http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 45
-Paragraph 1A
-URI http://asc.fasb.org/extlink&oid=119993939&loc=d3e28541-108399

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 6
-URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21506-112644

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
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+ Details

Commitments and Contingencies

12 Months Ended

Dec. 31, 2020

Commitments And Contingencies Disclosure [Abstract]

Commitments and Contingencies

9.Commitments and Contingencies

Milestone Compensation Arrangements

We have performance-based milestone compensation arrangements with certain employees and consultants, 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 equity as shown in the table below, upon achievement of each contingent milestone. We accrue such contingent compensation when the related milestone is probable of achievement and record in “Accrued compensation and benefits” for the current portion and in “Other liabilities” for the noncurrent portion in the consolidated balance sheet. The table below shows our commitment for the potential milestone amounts of up to $267.4 million and the accruals as of December 31, 2020 for milestones deemed probable of achievement. There were no such accruals as of December 31, 2019.


	Fixed Monetary Amount		Accrued Amount ⁽¹⁾
Settlement Type	(in thousands)
Cash	$	15,006	$	367
Stock ⁽²⁾		168,407		9,571
Cash or stock at our sole discretion		84,030		634
Total	$	267,443	$	10,572

(1)

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

(2)

Includes the performance-based milestone awards that were granted as part of the 2020 Stock and Equity Award Exchange Program (the “Exchange Program”) further discussed in Note 15.

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 potential termination charges. As of December 31, 2020 and 2019, there were no amounts accrued related to termination charges.

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 material demands have been made upon 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.

Subsequent Events

12 Months Ended

Dec. 31, 2020

Subsequent Events [Abstract]

Subsequent Events

18.	Subsequent Events

Closing and Completion of Merger Transactions with Eidos

On January 19, 2021, the stockholders of each of BridgeBio and Eidos voted to approve all proposals related to the Merger Transactions and on January 26, 2021, we closed and completed the Merger Transactions. The acquisition of the Eidos Common Stock was settled through cash payments of $21.3 million and issuance of approximately 26.1 million of our common stock. We also issued 2,776,672 stock options to purchase common stock of BridgeBio and 25,972 shares of BridgeBio RSUs to certain employees of Eidos in exchange for their then outstanding common stock options and RSUs under the Eidos 2016 Plan and the Eidos 2018 Plan.

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

We have incurred $8.7 million of deferred merger transaction costs that are included in “Other current assets” in our consolidated balance sheet as of December 31, 2020. Through the closing of the Merger Transactions on January 26, 2021, we have incurred estimated transaction costs aggregating to $78.2 million.

Issuance of 2029 Notes

On January 28, 2021, we issued an aggregate of $717.5 million principal amount of our 2.25% Convertible Senior Notes due 2029 (the “2029 Notes”), pursuant to an Indenture dated January 28, 2021 (the “2029 Notes Indenture”), between us and U.S. Bank National Association, as trustee (the “2029 Notes Trustee”), in a private offering to qualified institutional buyers (the “2021 Note Offering”) pursuant to Rule 144A under the Securities Act. The 2029 Notes issued in the 2021 Note Offering include $67.5 million aggregate principal amount of 2029 Notes sold to the initial purchasers in (the “2029 Notes Initial Purchasers”) pursuant to the exercise in part of the 2029 Notes Initial Purchasers’ option to purchase $97.5 million principal amount of additional 2029 Notes. On January 28, 2021, the 2029 Notes Initial Purchasers exercised the remaining portion of their option to purchase $30.0 million principal amount of additional 2029 Notes. The sale of those additional 2029 Notes closed on February 2, 2021.

The 2029 Notes will accrue interest payable semiannually in arrears on February 1 and August 1 of each year, beginning on August 1, 2021, at a rate of 2.25% per year. The 2029 Notes will mature on February 1, 2029, unless earlier converted, redeemed or repurchased. The 2029 Notes are convertible into cash, shares of BridgeBio’s common stock or a combination of cash and shares of BridgeBio’s common stock, at our election. The Notes are our general unsecured obligations and rank senior in right of payment to all of our indebtedness that is expressly subordinated in right of payment to the 2029 Notes; equal in right of payment with all of our liabilities that are not so subordinated, including our 2027 Notes; effectively junior to any of our secured indebtedness to the extent of the value of the assets securing such indebtedness; and structurally junior to all indebtedness and other liabilities (including trade payables) of our subsidiaries.

We received net proceeds from the 2021 Note Offering of approximately $731.7 million, after deducting the 2029 Notes Initial Purchasers’ discount and offering expenses. We used approximately $61.3 million of the net proceeds from the 2021 Note Offering to pay for the cost of the capped call transactions and approximately $50.0 million to pay for the repurchase of shares of its common stock in connection with the 2021 Note Offering. We intend to use the remainder of the net proceeds from the 2021 Note Offering for general corporate purposes, which may include research and development and clinical development costs to support the advancement of our drug candidates, including the continued growth of our commercial and medical affairs capabilities, the conduct of clinical trials and preclinical research and development activities; working capital; capital expenditures; repayment of outstanding indebtedness; general and administrative expenses; and other general corporate purposes.

The 2029 Notes Indenture contains customary terms and covenants, including that upon certain events of default occurring and continuing, either the 2029 Notes Trustee or the holders of not less than 25% in aggregate principal amount of the 2029 Notes then outstanding may declare the entire principal amount of all the 2029 Notes plus accrued special interest, if any, to be immediately due and payable.

Asset Acquisitions

12 Months Ended

Dec. 31, 2020

Business Combinations [Abstract]

Asset Acquisitions

8.Asset Acquisitions

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 for the year ended December 31, 2018 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 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 for the year ended December 31, 2018 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.

2019 Reorganization and IPO and 2020 Shelf Registration

12 Months Ended

Dec. 31, 2020

Reorganizations [Abstract]

2019 Reorganization and IPO and 2020 Shelf Registration

14.	2019 Reorganization and IPO and 2020 Shelf Registration

2019 Reorganization and IPO

On June 13, 2019, BridgeBio formed BridgeBio Pharma Merger Sub LLC (“Merger Sub LLC”), a Delaware limited liability company and direct wholly-owned subsidiary. The 2019 Reorganization was executed on July 1, 2019, immediately prior to completion of the IPO of BridgeBio’s common stock. As part of the 2019 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 BridgeBio. Merger Sub LLC was then merged with and into BBP LLC, the surviving entity, which became a wholly-owned subsidiary of BridgeBio. Subsequent to the 2019 Reorganization, as the sole managing member, BridgeBio operates and controls all of BBP LLC’s businesses and affairs.

The number of shares of BridgeBio’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 BridgeBio'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 BridgeBio’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 15 for additional details. At the conclusion of the 2019 Reorganization, BridgeBio became the reporting entity.

The 2019 Reorganization was accounted for as a reverse acquisition and recapitalization for financial reporting purposes. The assets and liabilities of BridgeBio, 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 BridgeBio’s historical financial statements, including the comparative prior periods. All share and per share amounts in these consolidated financial statements and related notes had been retroactively adjusted, where applicable, for all periods presented. The shares of BridgeBio’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 2019 Reorganization.

All BBP LLC units that were previously reported as temporary equity and were converted to common stock of BridgeBio upon the completion of the 2019 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. At that the time of the 2019 Reorganization, the consolidation assessment on all consolidated entities was updated on behalf of BridgeBio resulting in no change in the treatment of the consolidated entities.

On July 1, 2019, BridgeBio closed the IPO of its common stock. As part of the IPO, BridgeBio 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. BridgeBio 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.

2020 Shelf Registration

On July 7, 2020, we filed a shelf registration statement on Form S-3 (the “2020 Shelf”) with the SEC in relation to the registration of common stock, preferred stock, debt securities, warrants and units or any combination thereof. We also simultaneously entered into an Open Market Sale Agreement with Jefferies LLC and SVB Leerink LLC (collectively, the “Sales Agents”), to provide for the offering, issuance and sale by us of up to an aggregate of $350.0 million of our common stock from time to time in “at-the-market” offerings under the 2020 Shelf and subject to the limitations thereof (the “2020 Sales Agreement”). We will pay to the applicable Sales Agents cash commissions of up to 3.0 percent of the gross proceeds of sales of common stock under the 2020 Sales Agreement. We have not issued any shares or received any proceeds from this offering as of December 31, 2020.

Consolidated Statements of Operations - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Income Statement [Abstract]
License revenue	$ 8,249	$ 40,560
Revenue from Contract with Customer, Product and Service [Extensible List]	us-gaap:LicenseMember	us-gaap:LicenseMember	us-gaap:LicenseMember
Operating expenses:
Cost of license revenue		$ 2,500
Research and development	$ 337,047	209,947	$ 140,073
General and administrative	145,684	94,353	43,587
Total operating expenses	482,731	306,800	183,660
Loss from operations	(474,482)	(266,240)	(183,660)
Other income (expense), net:
Interest income	4,015	8,915	2,004
Interest expense	(36,655)	(8,765)	(2,547)
Gain on deconsolidation of PellePharm			19,327
Share in net loss of equity method investments		(20,869)	(275)
Other income (expense)	1,634	(1,626)	(4,300)
Total other income (expense), net	(31,006)	(22,345)	14,209
Net loss	(505,488)	(288,585)	(169,451)
Net loss attributable to redeemable convertible noncontrolling interests and noncontrolling interests	56,764	27,998	38,702
Net loss attributable to common stockholders of BridgeBio	$ (448,724)	$ (260,587)	$ (130,749)
Net loss per share, basic and diluted	$ (3.80)	$ (2.48)	$ (2.12)
Weighted-average shares used in computing net loss per share, basic and diluted	117,995,457	105,099,089	61,767,414

Debt - Schedule of Total Interest Expense Recognized Related to 2027 Notes (Details) - 2027 Notes $ in Thousands	12 Months Ended
	Dec. 31, 2020 USD ($)
Debt Instrument [Line Items]
Contractual interest expense	$ 11,153
Amortization of debt discount	14,877
Amortization of debt issuance costs	772
Total interest and amortization expense	$ 26,802

Stock-Based Compensation - Summary of Restricted Stock Units Activity (Details) - A&R 2019 Plan and 2019 Inducement Plan - Restricted Stock Units (RSUs)	12 Months Ended
	Dec. 31, 2020 $ / shares shares
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Unvested Shares of Restricted Stock Outstanding, Beginning balance \| shares	362,163
Unvested Shares of Restricted Stock Outstanding, Granted \| shares	1,054,676
Unvested Shares of Restricted Stock Outstanding, Vested \| shares	(123,321)
Unvested Shares of Restricted Stock Outstanding, Cancelled \| shares	(239,680)
Unvested Shares of Restricted Stock Outstanding, Ending balance \| shares	1,053,838
Weighted-Average Grant Date Fair Value, Beginning balance \| $ / shares	$ 31.98
Weighted-Average Grant Date Fair Value, Granted \| $ / shares	34.18
Weighted-Average Grant Date Fair Value, Vested \| $ / shares	33.35
Weighted-Average Grant Date Fair Value, Cancelled \| $ / shares	31.16
Weighted-Average Grant Date Fair Value, Ending balance \| $ / shares	$ 34.21

2019 Reorganization and IPO and 2020 Shelf Registration - 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

Out-licensing Agreements

12 Months Ended

Dec. 31, 2020

Out Licensing Agreements [Abstract]

Out-licensing Agreements

11.	Out-licensing Agreements

License Agreement Between QED and LianBio

In October 2019, our subsidiary, QED entered into an exclusive license agreement with a related party, LianBio (the “QED-LianBio License Agreement”). Pursuant to the QED-LianBio License Agreement, QED granted to LianBio 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 QED-LianBio License Agreement, QED received a nonrefundable upfront payment of $10.0 million and is entitled to receive development and sales milestones payments of up to $132.5 million and tiered royalties on net sales ranging from the low to mid-teens. In addition, QED also received warrants which entitles QED to purchase 10% of the then-fully diluted shares of one of the subsidiaries of LianBio upon achievement of certain contingent development milestones (the “LianBio Warrants”).

We accounted for the QED-LianBio License Agreement and the LianBio Exclusivity Agreement (see Note 7) as a single transaction under ASC 606 and identified the exclusive license as a distinct performance obligation since LianBio 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. We determined that the LianBio’s 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 valued at approximately $3.8 million. We determined that the license was a right to use the intellectual property of QED and as of December 31, 2019, we had provided all necessary information to LianBio to benefit from the license and the license term. As of December 31, 2019, we also determined the contingent development milestones related to our ability to exercise the LianBio Warrants are not probable. As a result, we did not recognize any fair value of the LianBio Warrants, which we considered to be immaterial, as license revenue or record as an asset. For the year ended December 31, 2020, certain contingent development milestones related to our ability to exercise the LianBio Warrants were achieved, and, as a result, we recognized changes in the fair value of the warrants of approximately $3.3 million in “Other income (expense)”.

We consider the future potential development milestone as well as the sales-based royalties to be variable consideration. The future potential milestone payments were not included in the transaction price as they were all determined to be fully constrained under ASC 606. We determined that the achievements of such development milestones are contingent upon success in future clinical trials and regulatory approvals, which are not within our control and are uncertain at this stage. We expect that the royalty arrangements and sales-based milestones will be recognized when the sales occur or the milestones are achieved pursuant to the sales-based royalty exception under ASC 606-10-55-65 because the license is the predominant item to which the royalties or sales-based milestones relate. We will re-evaluate the transaction price at each reporting period and as uncertain events are resolved or other changes in circumstances occur.

During the year ended December 31, 2020, we received reimbursements for research and development expenses incurred in 2019 amounting to $2.8 million from LianBio, in connection with the QED-LianBio License Agreement. This amount was recorded as reduction in research and development expenses for the year ended December 31, 2019.

License Agreement Between Navire and LianBio

In August 2020, our subsidiary, Navire Pharma, Inc. (“Navire”) entered into an exclusive license agreement with LianBio (the “Navire-LianBio License Agreement”). Pursuant to the Navire-LianBio License Agreement, Navire granted to LianBio an exclusive, sublicensable license under the licensed patent rights and know-how to develop, manufacture and commercialize SHP2 inhibitor BBP-398 (“BBP-398”), for tumors driven by RAS and receptor tyrosine kinase mutations. Under the terms of the Navire-LianBio License Agreement, LianBio will receive commercial rights in China and selected Asian markets and participate in clinical development activities for BBP-398. In consideration for the rights granted to LianBio, we received a nonrefundable $8.0 million upfront payment. We will also receive future development and sales milestone payments of up to $382.1 million, and tiered royalty payments from single-digit to low-teens on net sales of the product in licensed territories.

We accounted for the Navire-LianBio License Agreement under ASC 606 and identified the exclusive license as a distinct performance obligation since LianBio 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. We 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, 2020, we recognized $8.0 million in license revenue which comprised of the upfront payment. We determined that the license was a right to use the intellectual property of Navire and as of December 31, 2020, we had provided all necessary information to LianBio to benefit from the license and the license term.

License Agreements Between Eidos and Alexion

In September 2019, our subsidiary, Eidos, entered into an exclusive license agreement with Alexion Pharma International Operations Unlimited Company, a subsidiary of Alexion Pharmaceuticals, Inc. (together, “Alexion”) to develop, manufacture and commercialize in Japan the compound known as acoramidis (previously known as BBP-265 or AG10) and any of its various chemical forms and any pharmaceutical products containing acoramidis (the “Eidos-Alexion License Agreement”). Under the agreement, Eidos received an upfront nonrefundable payment of $25.0 million.

Eidos also entered into a stock purchase agreement with Alexion, under which Eidos sold to Alexion 556,173 shares of Eidos common stock 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 Eidos shares, determined based on the closing price of a share of Eidos’ common stock of $41.91 as reported on Nasdaq as of the date of execution, was $1.7 million and recognized in revenue as part of the upfront payment as discussed below.

Eidos is also eligible to receive $30.0 million in regulatory milestone payments subject to the achievement of regulatory milestones. Eidos will also receive royalty payments in the low-teens based on net sales of acoramidis 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 acoramidis in Japan, or upon the introduction of generic competition into market.

Eidos accounted for the 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 entered into a clinical supply agreement and will enter into a commercial supply agreement 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 recognized the $25.0 million upfront fee and $1.7 million premium paid for Eidos’ stock for a total upfront payment of $26.7 million in license revenue upon the effective date of the license agreement in September 2019. Eidos determined that the license was a right to use its intellectual property and as of the effective date, it 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 intellectual property rights, 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.

Eidos finalized the clinical supply agreement with Alexion on July 10, 2020, which was determined to be a separate performance obligation from the license. Eidos has billed $0.2 million to Alexion for the year ended December 31, 2020 and recognized such amount as license revenue from the clinical supply agreement. Direct costs for the year ended December 31, 2020 were immaterial.

Debt - Schedule of Term Loans Balance (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Debt Instrument [Line Items]
Net carrying amount	$ 92,421	$ 91,791
Hercules Term Loan
Debt Instrument [Line Items]
Principal value of term loans	75,000	75,000
Debt issuance costs and debt accretion	1,936	679
Net carrying amount	$ 76,936	$ 75,679

Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2020

Accounting Policies [Abstract]

Summary of Reconciliation of Cash, Cash Equivalents and Restricted Cash

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,
	2020		2019		2018
	(in thousands)
Cash and cash equivalents	$	356,082	$	363,773	$	436,086
Restricted cash — Included in "Prepaid expenses and other current assets"		139		—		—
Restricted cash — Included in "Other assets"		2,458		424		159
Total cash, cash equivalents and restricted cash shown in the consolidated statements of cash flows	$	358,679	$	364,197	$	436,245

Summary of Estimated Useful Lives of our Property and Equipment

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


Furniture and office equipment		3 - 5 years
Laboratory and machinery equipment		3 - 15 years
Leasehold improvements		Shorter of remaining lease term or estimated useful life of the related asset

Organization and Description of Business

12 Months Ended

Dec. 31, 2020

Organization Consolidation And Presentation Of Financial Statements [Abstract]

Organization and Description of Business

1.	Organization and Description of Business

BridgeBio Pharma, Inc. (“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.

On July 1, 2019, BridgeBio completed the 2019 Reorganization, whereby all unitholders of BridgeBio Pharma LLC (“BBP LLC”) exchanged their units for shares of common stock of BridgeBio, and BBP LLC became a wholly-owned subsidiary of BridgeBio, and closed the Initial Public Offering (“IPO”) of its common stock. 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”). Our consolidated financial statements include the accounts of our majority-owned subsidiary, Eidos Therapeutics, Inc. (“Eidos”), which completed an IPO in June 2018 and became our wholly-owned subsidiary in January 2021. BridgeBio is headquartered in Palo Alto, California.

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 BridgeBio, 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 the comparable periods presented to give effect to the exchange ratio applied in connection with the 2019 Reorganization.

Fair Value Measurements

12 Months Ended

Dec. 31, 2020

Fair Value Disclosures [Abstract]

Fair Value Measurements

3.	Fair Value Measurements

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, 2020
	Total		Level 1		Level 2		Level 3
	(in thousands)
Assets
Cash equivalents:
Money market funds	$	266,437	$	266,437	$	—	$	—
Short-term marketable securities:
U.S. treasury bills		14,999		—		14,999		—
U.S. treasury notes		45,391		—		45,391		—
Commercial paper		144,851		—		144,851
Corporate debt securities		45,770		—		45,770		—
Total short-term marketable securities		251,011		—		251,011		—
LianBio Warrants		3,338		—		—		3,338
Total financial assets	$	520,786	$	266,437	$	251,011	$	3,338
Liabilities:
LEO call option liability	$	5,550	$	—	$	—		5,550
Embedded derivative		1,340		—		—		1,340
Total financial liabilities	$	6,890	$	—	$	—	$	6,890

	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

There were no transfers between Level 1, Level 2 or Level 3 during the periods presented.

There are uncertainties on the fair value measurement of the instruments classified under Level 3 due to the use of unobservable inputs and interrelationships between these unobservable inputs, which could result in higher or lower fair value measurements.

Marketable Securities

The fair value of our marketable securities classified within Level 2 is based upon observable inputs that may include benchmark yields, reported trades, broker/dealer quotes, issuer spreads, two-sided markets, benchmark securities, bids, offers and reference data including market research publications.

LEO Call Option Liability

The valuation of the LEO Call Option (see Note 7) contains unobservable inputs that reflect management’s own assumptions for which there is little, if any, market activity at the measurement date. Accordingly, the LEO Call Option liability is remeasured to fair value on a recurring basis using unobservable inputs that are classified as Level 3 inputs.

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,
	2020		2019
Probability of milestone achievement	12.0%-84.0%		12.0%-84.0%
Discount rate	0.1%-14.3%		1.6%-13.1%
Expected term (in years)	1.25-6.25		0.67-5.25
Expected volatility	80.0%-95.0%		60.0%-68.0%
Risk-free interest rate	1.16%-1.53%		2.34%-2.46%
Dividend yield		—		—

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 as other expense		1,130
Balance as of December 31, 2018		3,009
Change in fair value upon remeasurement recognized as other expense		1,069
Balance as of December 31, 2019		4,078
Change in fair value upon remeasurement recognized as other expense		1,472
Balance as of December 31, 2020	$	5,550

2027 Notes

The fair value of the 2027 Notes (see Note 10), which differs from its carrying value, is determined by prices for the 2027 Notes observed in market trading. The market for trading of the 2027 Notes is not considered to be an active market and therefore the estimate of fair value is based on Level 2 inputs. As of December 31, 2020, the estimated fair value of the 2027 Notes, which have an aggregate face value of $550.0 million, was $997.9 million based on the market price on the last trading day for the period.

Term Loans

The fair value of our outstanding term loans (see Note 10) is estimated using the net present value of the payments, discounted at an interest rate that is consistent with a market interest rate, which is a Level 2 input. The estimated fair value of our outstanding term loans approximates the carrying amount, as the term loan bears a floating rate that approximates the market interest rate.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Debt - Schedule of Future Minimum Payments under 2027 Notes (Details) $ in Thousands	Dec. 31, 2020 USD ($)
2027 Notes and Interest on 2027 Notes
Debt Instrument [Line Items]
2021	$ 13,750
2022	13,750
2023	13,750
2024	13,750
2025	13,750
Thereafter	570,625
Total future payments	639,375
Interest on 2027 Notes
Debt Instrument [Line Items]
Total future payments	(89,375)
2027 Notes
Debt Instrument [Line Items]
Total future payments	$ 550,000

Fair Value Measurements - Summary of Changes in Estimated Fair Value of Liability (Details) - LEO Call Option - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Fair Value Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Beginning balance	$ 4,078	$ 3,009
Initial fair value of Liability			$ 1,879
Change in fair value upon remeasurement recognized as other expense	1,472	1,069	1,130
Ending balance	$ 5,550	$ 4,078	$ 3,009

Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2020

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, 2020
	Total		Level 1		Level 2		Level 3
	(in thousands)
Assets
Cash equivalents:
Money market funds	$	266,437	$	266,437	$	—	$	—
Short-term marketable securities:
U.S. treasury bills		14,999		—		14,999		—
U.S. treasury notes		45,391		—		45,391		—
Commercial paper		144,851		—		144,851
Corporate debt securities		45,770		—		45,770		—
Total short-term marketable securities		251,011		—		251,011		—
LianBio Warrants		3,338		—		—		3,338
Total financial assets	$	520,786	$	266,437	$	251,011	$	3,338
Liabilities:
LEO call option liability	$	5,550	$	—	$	—		5,550
Embedded derivative		1,340		—		—		1,340
Total financial liabilities	$	6,890	$	—	$	—	$	6,890

	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

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

	December 31,
	2020		2019
Probability of milestone achievement	12.0%-84.0%		12.0%-84.0%
Discount rate	0.1%-14.3%		1.6%-13.1%
Expected term (in years)	1.25-6.25		0.67-5.25
Expected volatility	80.0%-95.0%		60.0%-68.0%
Risk-free interest rate	1.16%-1.53%		2.34%-2.46%
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 as other expense		1,130
Balance as of December 31, 2018		3,009
Change in fair value upon remeasurement recognized as other expense		1,069
Balance as of December 31, 2019		4,078
Change in fair value upon remeasurement recognized as other expense		1,472
Balance as of December 31, 2020	$	5,550

Debt - Schedule of Outstanding 2027 Notes Balances (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Mar. 09, 2020	Dec. 31, 2019
Liability component
Net carrying amount	$ 92,421		$ 91,791
2027 Notes
Liability component
Principal	550,000
Unamortized debt discount	(158,404)
Unamortized debt issuance costs	(8,160)	$ (8,900)
Net carrying amount	383,436
Equity component, net of issuance costs	$ 169,173

Summary of Significant Accounting Policies (Policies)

12 Months Ended

Dec. 31, 2020

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. For consolidated entities where we own or are exposed to less than 100% of the economics, we record net loss attributable to noncontrolling interests in our consolidated statements of operations equal to the percentage of the economic or ownership interests retained in such entities by the respective noncontrolling parties.

In determining whether an entity is considered a controlled entity, we applied the VIE and Voting Interest Entity (“VOE”) models. We assess whether we are the primary beneficiary of a VIE based on our power to direct the activities of the VIE that most significantly impact the VIE’s economic performance and our obligation to absorb losses or the right to receive benefits from the VIE that could potentially be significant to the VIE. 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 has a controlling financial interest in the entity through its ownership of greater than 50% of the outstanding voting shares of the entity and that other equity holders do not have substantive voting, participating or liquidation rights. We assess whether we are the primary beneficiary of a VIE or whether we have a majority voting interest for entities consolidated under the VOE model at the inception of the arrangement and at each reporting date. Refer to Note 5.

The consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States (“U.S. 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, 2020, 2019 and 2018 are not necessarily indicative of the results to be expected for the year ending December 31, 2021 or for any other future annual or interim period.

Presentation Reclassifications

Certain reclassifications have been made to the consolidated balance sheet as of December 31, 2019. These reclassifications had no effect on net loss or cash flows as previously reported.

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 VIE model or the 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. We have determined that the consolidated VIEs, in which BridgeBio is the primary beneficiary, individually meets the definition of a business. There are no significant restrictions on the assets and liabilities of BridgeBio’s consolidated VIEs. BridgeBio then performs on-going reassessments of the VIE based on reconsideration events and reevaluates whether a change to the consolidation and disclosure conclusions are required each reporting period.

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 5.

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, 2020 and 2019, we have an equity method and equity security investments in PellePharm. The equity security investments in PellePharm are without a readily determinable fair value and are carried at cost less impairment plus or minus observable price changes. Refer to Note 7 for further discussion on the PellePharm investment. We have an equity method investment in LianBio for ordinary shares representing 6% and 10% of LianBio’s fully-diluted equity as of December 31, 2020 and 2019, respectively (see Note 7).

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, 2020, 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 contract 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.

In light of recent developments relating to the coronavirus (“COVID-19”) global pandemic, the focus of healthcare providers and hospitals on fighting the virus, and consistent with the U.S. Food and Drug Administration’s updated industry guidance for conducting clinical trials issued on March 18, 2020, we have experienced delays in or temporary suspension of the enrollment of patients in our subsidiaries’ ongoing clinical trials. We additionally may experience delays in certain ongoing key program activities, including commencement of planned clinical trials, as well as non-clinical experiments and investigational new drug application-enabling good laboratory practice toxicology studies. The exact timing of delays and their overall impact on our business are currently unknown, and we are monitoring the COVID-19 outbreak as it continues to rapidly evolve. We are continuing to actively monitor the situation and may take further precautionary and preemptive actions as may be required by federal, state or local authorities or that we determine are in the best interests of public health and safety and that of our patient community, employees, partners, suppliers and stockholders. We cannot predict the effects that such actions, or the impact of COVID-19 on global business operations and economic conditions, may have on our business or strategy, including the effects on our ongoing and planned clinical development activities and prospects, or on our financial and operating results.

Use Of Estimates

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 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, fair value of the liability component of our 2.50% convertible senior notes due 2027 (the “2027 Notes”, see Note 10), the fair value of the LEO call option liability (see Note 7), the fair value of the LianBio Warrants (see Note 11), the fair value of Eidos’ derivative liability (see Note 10), the present value of lease payments of our leases on the respective lease commencement dates, the valuation of our stock-based awards, accounting for stock-based award modifications, accruals for performance-based milestone compensation arrangements, accruals for research and development activities and accruals for contingent intellectual property, clinical, regulatory and sales milestones payments in our in-licensing agreements. 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.

Restricted Cash

Under certain lease agreements and letters of credit, we have pledged cash and cash equivalents as collateral. As of December 31, 2020 and 2019, restricted cash related to such agreements was $2.6 million and $0.4 million, respectively.

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.

	December 31,
	2020		2019		2018
	(in thousands)
Cash and cash equivalents	$	356,082	$	363,773	$	436,086
Restricted cash — Included in "Prepaid expenses and other current assets"		139		—		—
Restricted cash — Included in "Other assets"		2,458		424		159
Total cash, cash equivalents and restricted cash shown in the consolidated statements of cash flows	$	358,679	$	364,197	$	436,245

Fair Value Measurements

Assets and liabilities recorded at fair value on a recurring basis in the consolidated 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 are 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
Laboratory and machinery equipment		3 - 15 years
Leasehold improvements		Shorter of remaining lease term or estimated useful life of the related asset

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

Leases

Our lease portfolio includes leases for our headquarters, office spaces and laboratory facility. We determine if an arrangement is a lease at the inception of the contract. The asset component of our operating leases is recorded as “Operating lease right-of-use assets”, and the liability component is recorded as “Operating lease liabilities, current portion” and “Operating lease liabilities, net of current portion” in our consolidated balance sheet. The asset component of our finance leases are included in “Property and equipment, net”; and current and noncurrent finance lease liabilities are presented as part of “Other accrued liabilities” and “Other liabilities”, respectively, in our consolidated balance sheet. Assets under finance leases are depreciated in a manner similar to other property and equipment.

Right-of-use assets and lease liabilities are recognized based on the present value of lease payments over the lease term at the lease commencement date. The present value of lease payments is determined by using the interest rate implicit in the lease, if that rate is readily determinable; otherwise, we use an incremental borrowing rate based on the information available at lease commencement date in determining the present value of lease payments. Right-of-use assets are adjusted for incentives expected to be received. On the lease commencement date, we estimate and include in our lease payments any lease incentive amounts based on future events when (1) the events are within our control and (2) the event triggering the right to receive the incentive is deemed reasonably certain to occur. If the lease incentive received is greater or less than the amount recognized at lease commencement, we recognize the difference as an adjustment to right-of-use asset and/or lease liability, as applicable.

Right-of-use assets and lease liabilities are remeasured upon certain modifications to leases using the present value of remaining lease payments and estimated incremental borrowing rate upon lease modification. Operating lease cost is recognized on a straight-line basis over the lease term, and includes amounts related to short-term leases. For finance leases, we record interest expense on the lease liability in addition to amortizing the right-of-use asset, which is generally straight-line, over the shorter of the lease term or the useful life of the right-of-use asset. We recognize variable lease payments as operating expenses in the period in which the obligation for those payments is incurred. Variable lease payments primarily include common area maintenance, utilities, real estate taxes, insurance, and other operating costs that are passed on from the lessor in proportion to the space we lease.

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 are a single operating and reportable 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 the Chief Operating Decision Maker, which is our Chief Executive Officer. Substantially 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, 2020, approximately 97% of our revenue is from LianBio with headquarters located in Shanghai, China. 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 LianBio. We had no revenues for the year ended December 31, 2018.

Capped Call Transactions

In March 2020, in connection with the issuance of the 2027 Notes (see Note 10), BridgeBio entered into certain capped call transactions (the “Capped Call Transactions”). The Capped Call Transactions are expected generally to reduce the potential dilution to the holders of BridgeBio’s common stock upon any conversion of the 2027 Notes and/or offset any cash payments BridgeBio is required to make in excess of the principal amount of converted 2027 Notes, with such reduction and/or offset subject to a cap based on the cap price (see Note 10). The capped calls meet the conditions outlined in Accounting Standards Codification (“ASC”) 815-40, Derivatives and Hedging, to be classified in stockholders’ equity as a reduction to additional paid-in capital and are not subsequently remeasured as long as the conditions for equity classification continue to be met.

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. In accordance with ASC 835, Interest, we present debt issuance costs on the consolidated balance sheets as a direct deduction from the associated debt. A portion of debt issuance costs incurred in connection with the 2027 Notes issued in March 2020 was deemed to relate to the equity component and was recorded as a reduction to additional paid in capital and is not amortized to interest expense over the estimated life of the related debt. The 2027 Notes are more fully described in Note 10.

Treasury Stock

Repurchased treasury stock is recorded at cost, including any commissions and fees.

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 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 perform the following five steps: (i) identify the contract(s) with a customer; (ii) identify the performance obligations in the contract; (iii) determine the transaction price; (iv) allocate the transaction price to the performance obligations in the contract; and (v) recognize revenue when (or as) we satisfy our performance obligation. We apply the five-step model to contracts when it is probable that we will collect the consideration we are entitled to in exchange for the goods or services we transfers to the customer.

At inception of the arrangement, once it is determined to be within the scope of ASC 606, we assess the goods or services promised within each contract and then identify the performance obligations and assess whether each promised good or service is distinct. We then recognize as revenue the amount of the transaction price that is allocated to the respective performance obligation, on a relative standalone selling price basis, when (or as) the performance obligation is satisfied. As part of the accounting for these arrangements, 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 forecasted revenue or costs, development timelines, 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 license fees 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. For licenses that are bundled with other promises, we determine whether the combined performance obligation is satisfied over time or at a point in time. If the combined performance obligation is satisfied over time, we use judgment in determining the appropriate method of measuring progress for purposes of recognizing revenue from the up-front license fees. We evaluate the measure of progress each reporting period and, if necessary, adjust the measure of performance and related revenue recognition.

Development and Regulatory Milestone Payments: At the inception of each arrangement that includes development and regulatory milestone payments, we evaluate whether the milestones are considered probable of being reached and estimate the amount to be included in the transaction price using the most likely amount method. 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. At the end of each subsequent reporting period, we re-evaluate the probability of achieving such development and regulatory milestones and any related constraint, and if necessary, adjust our estimate of the overall transaction price. Any such adjustments are recorded on a cumulative catch-up basis.

Sales-based Milestone Payments and Royalties: For arrangements that include sales-based royalties, including milestone payments based on the volume of sales, we will determine whether the license is deemed to be the predominant item to which the royalties or sales-based milestones relate and if such is the case, we will recognize revenue at the later of (i) when the related sales occur, or (ii) when the performance obligation to which some or all of the royalty has been allocated has been satisfied (or partially satisfied).

Product supply services: Arrangements that include a promise for the future supply of drug product for either clinical development or commercial supply at the licensee’s discretion are generally considered as options. We will assess if these options provide a material right to the licensee and if so, they are accounted for as separate performance obligations and recognized when the future goods or services related to the option are provided or the option expires.

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 trials;

•

fees paid to investigative sites in connection with clinical trials;

•

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

•

professional service fees for consulting and related services.

We base our expense accruals related to clinical trials on our estimates of the services received and efforts expended pursuant to contracts with multiple research institutions and CROs that conduct and manage clinical trials 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 trial 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 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. We use 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 equity awards that contain performance conditions 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-classified awards that contain performance conditions is measured based on the grant date fair value of the award. Compensation expense for liability-classified awards that contain performance conditions is initially measured based on the grant date fair value of the award and is remeasured at fair value at each reporting date until the date of settlement. 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.

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 BBP LLC or (iii) a final liquidation, dissolution, winding-up or termination of BBP LLC. The unvested outstanding management incentive units and common units of BBP LLC were exchanged for shares of BridgeBio’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 14).

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.

Accrued Milestone Compensation Arrangements

We have performance-based milestone compensation arrangements with certain employees and consultants, 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 (1) cash, (2) equity of BridgeBio, or (3) cash or equity of BridgeBio at our sole election, upon achievement of each contingent milestone. For arrangements that involve settlement by cash or equity of BridgeBio at our sole election, 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 achievement date of each contingent milestone should we elect to settle in equity.

We record accruals for the compensation expense arising from each development milestone when the specific contingent development milestone is probable of achievement and such accruals are measured at each reporting period. We estimate the probability of achieving such milestones based on the progression and expected outcome of the related clinical programs. We base our estimates on the best available information at that 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 milestone compensation expenses in future periods. Any increases or decreases in such expenses are generally considered to be changes in estimates and will be reflected in the period identified.

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 a consolidated U.S. federal income tax return for the consolidated entities which meet the requirements as prescribed by the consolidated regulations. Those entities that do not meet the threshold to be included in the consolidated filing continue to file separate U.S. federal income tax returns. 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 Notes 3 and 7 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 BridgeBio’s common stock outstanding for the period, without consideration for potential dilutive shares of common stock, such as such as stock options, unvested restricted stock units and awards and performance-based milestone compensation awards, shares issuable under the employee stock purchase plan and assumed conversion of our 2027 Notes. The common stock equivalents of performance-based milestone compensation arrangements are included as potentially dilutive shares only if the performance condition has been met as of the end of the reporting period. 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. See Note 14 to for additional details.

Emerging Growth Company (EGC) Status

We have ceased to be an EGC on December 31, 2020 because our aggregate worldwide market value of the voting and non-voting common equity held by non-affiliates as of June 30, 2020, our most recently completed second fiscal quarter, was greater than $700 million. Effective January 1, 2021, we will no longer be able to use the exemptions from certain reporting requirements available to EGCs.

Recent Accounting Pronouncements

Recently Adopted Accounting Pronouncements

ASU 2016-02 Leases (Topic 842). In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842) (“ASU 2016-02” or “ASC 842”), which 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 under operating leases, 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 non-public business entities to January 1, 2021 but early adoption is still permitted.

Effective January 1, 2020, we adopted ASC 842 using the optional transition method and applied the standard only to leases that existed at that date. Under the optional transition method, we do not need to restate the comparative periods in transition and will continue to present financial information and disclosures for periods before January 1, 2020 in accordance with ASC 840. As part of the ASC 842 adoption, we elected certain practical expedients outlined in the guidance. We have also chosen to apply the package of practical expedients for existing leases, which provides relief from reassessing: (i) whether a contract is or contains a lease, (ii) lease classification, and (iii) whether initial direct costs can be capitalized. Upon transition, we also elected to use hindsight with respect to determining the lease term and in assessing any impairment of right-of-use assets for existing leases. We have also made some accounting policy elections for post-transition to: (i) account for leases at the portfolio level, where applicable, (ii) allow us not to separate nonlease components from lease components, and instead to account for those as a single lease component for the asset class of operating lease right-of-use real estate assets, and (iii) elect not to recognize a right-of-use asset and a lease liability for all of our leases with a term of 12 months or less (“short-term leases”).

The adjustments due to the adoption of ASC 842 primarily related to the recognition of right-of-use assets of $9.2 million and lease liabilities of $11.5 million at January 1, 2020 for our operating leases. The lease liabilities were determined based on the present value of the remaining minimum lease payments. The right-of-use assets were determined based on the value of the lease liabilities, adjusted for the deferred rent balances of approximately $2.3 million. Upon adoption of ASC 842, we also (i) derecognized the build-to-suit lease asset of $10.0 million previously presented in other assets as of December 31, 2019, and recognized a construction-in-progress asset for the same amount, and (ii) derecognized the build-to-suit lease liability of $8.0 million as of December 31, 2019 and recognized a liability presented in other accrued liabilities (see Note 13). The adoption did not have a material impact on our accumulated deficit and on our consolidated statements of operations and cash flows.

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. 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 filers with the SEC that are not smaller reporting companies. The adoption of this guidance did not materially impact 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. The adoption of this guidance did not significantly impact our financial statement disclosures.

ASU 2018-15 – Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement. In August 2018, the FASB issued ASU 2018-15 – Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement. The guidance amends ASC 350-40, Intangibles - Goodwill and Other - Internal-Use Software. The ASU requires implementation costs incurred by customers in cloud computing arrangements to be deferred and recognized over the term of the arrangement, if these costs were capitalized by the customer in a software licensing arrangement. This guidance is effective for public business entities for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2019, with early adoption permitted. We adopted this guidance effective January 1, 2020. The adoption of this guidance did not materially impact our consolidated financial statements.

ASU No. 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes. In December 2019, the FASB issued ASU 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes, which is intended to simplify various aspects related to accounting for income taxes. ASU 2019-12 removes certain exceptions to the general principles in Topic 740 and also clarifies and amends existing guidance to improve consistent application. This guidance is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2020, with early adoption permitted. We early adopted ASU 2019-12 effective January 1, 2020 and the adoption did not materially impact our financial statements.

Recently Issued Accounting Pronouncements Not Yet Adopted

ASU 2020-01, Investments – Equity Securities (Topic 321), Investments – Equity Method and Joint Ventures (Topic 323), and Derivatives and Hedging (Topic 815) – Clarifying the Interactions between Topic 321, Topic 323, and Topic 815. In January 2020, the FASB issued ASU 2020-01, Investments – Equity Securities (Topic 321), Investments – Equity Method and Joint Ventures (Topic 323), and Derivatives and Hedging (Topic 815) – Clarifying the Interactions between Topic 321, Topic 323, and Topic 815. The guidance is based on a consensus of the Emerging Issues Task Force and is expected to increase comparability in accounting for these transactions. ASU 2020-01 amends ASU 2016-01, which made targeted improvements to accounting for financial instruments, including providing an entity the ability to measure certain equity securities without a readily determinable fair value at cost, less any impairment, plus or minus changes resulting from observable price changes in orderly transactions for the identical or a similar investment of the same issuer. Among other topics, the amendments in ASU 2020-01 clarify that an entity should consider observable transactions that require it to either apply or discontinue the equity method of accounting. For public business entities, the amendments in the ASU are effective for fiscal years beginning after December 31, 2020, and interim periods within those fiscal years. For all other entities, the amendments are effective for fiscal years beginning after December 15, 2021, and interim periods within those fiscal years. Early adoption is permitted. We are currently assessing the impact of this update on our consolidated financial statements.

ASU 2020-06, Debt – Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging – Contracts in Entity’s Own Equity (Subtopic 815-40): Accounting for Convertible Instruments and Contracts in an Entity’s Own Equity. In August 2020, the FASB issued ASU 2020-06, Debt - Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging - Contracts in Entity’s Own Equity (Subtopic 815-40): Accounting for Convertible Instruments and Contracts in an Entity’s Own Equity. The guidance simplifies the complexity associated with applying U.S. GAAP for certain financial instruments with characteristics of liabilities and equity. This ASU (1) simplifies the accounting for convertible debt instruments and convertible preferred stock by removing the existing guidance in ASC 470-20, Debt: Debt with Conversion and Other Options, that requires entities to account for beneficial conversion features and cash conversion features in equity, separately from the host convertible debt or preferred stock; (2) revises the scope exception from derivative accounting in ASC 815-40 for freestanding financial instruments and embedded features that are both indexed to the issuer’s own stock and classified in stockholders’ equity, by removing certain criteria required for equity classification; and (3) revises the guidance in ASC 260, Earnings Per Share, to require entities to calculate diluted earnings per share for convertible instruments by using the if-converted method. ASU 2020-06 is effective for fiscal years beginning after December 15, 2021, including interim periods within those fiscal years. Early adoption is permitted, but no earlier

than fiscal years beginning after December 15, 2020, including interim periods within those fiscal years. Adoption is either a modified retrospective method or a fully retrospective method of transition. We plan to early adopt ASU 2020-06 effective January 1, 2021, specifically with respect to the accounting for our 2027 Notes. We are currently in the process of determining the effect that the adoption will have on our consolidated financial statements.

ASU 2020-10, Codification Improvements. In October 2020, the FASB issued ASU 2020-10, Codification Improvements. The guidance contains improvements to the Codification by ensuring that all guidance that requires or provides an option for an entity to provide information in the notes to financial statements is codified in the Disclosure Section of the Codification. The guidance also contains Codifications that are varied in nature and may affect the application of the guidance in cases in which the original guidance may have been unclear. For public business entities, the amendments in the ASU are effective for fiscal years beginning after December 15, 2020. For all other entities, the amendments are effective for annual periods beginning after December 15, 2021, and interim periods within annual periods beginning after December 15, 2022. Early adoption is permitted. We do not expect the adoption of ASU 2020-10 to have a material impact on our consolidated financial statements.

Consolidated Statements of Redeemable Convertible Noncontrolling Interests and Stockholders' Equity - USD ($) $ in Thousands	Total	4.29 Per Share	9.82 Per Share	Initial Public Offering	Equity Compensation Plans	Employee Stock Purchase Plan	Satisfy Tax Withholding	Redeemable Convertible Noncontrolling Interests	Common Stock	Common Stock 4.29 Per Share	Common Stock 9.82 Per Share	Common Stock Initial Public Offering	Common Stock Equity Compensation Plans	Common Stock 2020 Stock and Equity Award Exchange Program	Common Stock Employee Stock Purchase Plan	Common Stock Satisfy Tax Withholding	Treasury Stock	Treasury Stock 4.29 Per Share	Treasury Stock 9.82 Per Share	Additional Paid-In Capital	Additional Paid-In Capital 4.29 Per Share	Additional Paid-In Capital 9.82 Per Share	Additional Paid-In Capital Initial Public Offering	Additional Paid-In Capital Equity Compensation Plans	Additional Paid-In Capital 2020 Stock and Equity Award Exchange Program	Additional Paid-In Capital Employee Stock Purchase Plan	Additional Paid-In Capital Satisfy Tax Withholding	Accumulated Other Comprehensive Income	Accumulated Deficit	Parent	Parent 4.29 Per Share	Parent 9.82 Per Share	Parent Initial Public Offering	Parent Equity Compensation Plans	Parent 2020 Stock and Equity Award Exchange Program	Parent Employee Stock Purchase Plan	Parent Satisfy Tax Withholding	Noncontrolling Interests	Noncontrolling Interests 2020 Stock and Equity Award Exchange Program
Beginning balance at Dec. 31, 2017	$ 88,349								$ 51											$ 134,495									$ (48,695)	$ 85,851								$ 2,498
Temporary equity, beginning balance at Dec. 31, 2017								$ 833
Beginning balance, shares at Dec. 31, 2017									51,314,794
Issuance of shares					$ 2								$ 2																					$ 2
Issuance of shares, shares													1,827,623
Stock-based compensation	3,181																			3,181										3,181
Issuance of common stock, net of underwriters discounts and issuance costs		$ 36,299	$ 298,699							$ 8	$ 31							$ 0	$ 0		$ 36,291	$ 298,668									$ 36,299	$ 298,699
Issuance of common stock, net of underwriters discounts and issuance costs, shares										8,455,861	30,459,426
Issuance (repurchase) of noncontrolling interest	55,245																																					55,245
Temporary Equity, issuance (repurchase) of noncontrolling interest								62,363
Transfers from (to) noncontrolling interest	51,698																			21,596										21,596								30,102
Temporary Equity, transfers from (to) noncontrolling interest								(51,698)
Deconsolidation of PellePharm	688																																					688
Temporary Equity, deconsolidation of PellePharm								1,154
Net loss	(156,921)																												(130,749)	(130,749)								(26,172)
Temporary Equity, net loss								(12,530)
Ending balance at Dec. 31, 2018	377,240								$ 92											494,231									(179,444)	314,879								62,361
Temporary equity, ending balance at Dec. 31, 2018								122
Ending balance, shares at Dec. 31, 2018									92,057,704
Issuance of shares					8	$ 921							$ 8													$ 921								8		$ 921
Issuance of shares, shares													7,961,866		63,717
Stock-based compensation	15,198																			15,198										15,198
Repayment of nonrecourse notes	179																			179										179
Issuance of common stock, net of underwriters discounts and issuance costs				$ 366,237								$ 24											$ 366,213										$ 366,237
Issuance of common stock, net of underwriters discounts and issuance costs, shares												23,575,000
Unrealized gain (loss) on available-for-sale securities	254																											$ 254		254
Issuance (repurchase) of noncontrolling interest	1,206																																					1,206
Temporary Equity, issuance (repurchase) of noncontrolling interest								3,196
Transfers from (to) noncontrolling interest	(1,803)																			(28,635)										(28,635)								26,832
Temporary Equity, transfers from (to) noncontrolling interest								1,803
Net loss	(285,707)																												(260,587)	(260,587)								(25,120)
Temporary Equity, net loss								(2,878)
Ending balance at Dec. 31, 2019	473,733								$ 124											848,107								254	(440,031)	408,454								65,279
Temporary equity, ending balance at Dec. 31, 2019	2,243							2,243
Ending balance, shares at Dec. 31, 2019									123,658,287
Issuance of shares	1,205				$ 3,711									$ 1						1,205				$ 3,711	$ 1,673					1,205				$ 3,711	$ 1,674				$ (1,674)
Issuance of shares, shares									49,696				919,502	655,719
Stock-based compensation	36,530																			36,530										36,530
Equity component of 2027 Notes, net of issuance costs and deferred tax liability	168,078																			168,078										168,078
Purchase of capped calls	(49,280)																			(49,280)										(49,280)
Repurchase of common stock	(75,000)																$ (75,000)													(75,000)
Repurchase of common stock, shares									(2,414,681)								2,414,681
Repurchase of common stock to satisfy tax withholding, value							$ (714)																				$ (714)										$ (714)
Repurchase of shares to satisfy tax withholding, shares																(19,134)
Unrealized gain (loss) on available-for-sale securities	(62)																											(62)		(62)
Issuance (repurchase) of noncontrolling interest	50,828																																					50,828
Temporary Equity, issuance (repurchase) of noncontrolling interest								2,102
Transfers from (to) noncontrolling interest	(1,843)																			12,034										12,034								(13,877)
Temporary Equity, transfers from (to) noncontrolling interest								1,843
Net loss	(500,930)																												(448,724)	(448,724)								(52,206)
Temporary Equity, net loss								(4,558)
Ending balance at Dec. 31, 2020	106,256								$ 125								$ (75,000)			$ 1,021,344								$ 192	$ (888,755)	$ 57,906								$ 48,350
Temporary equity, ending balance at Dec. 31, 2020	$ 1,630							$ 1,630
Ending balance, shares at Dec. 31, 2020									122,849,389								2,414,681

Summary of Significant Accounting Policies - Summary of Reconciliation of Cash, Cash Equivalents and Restricted Cash (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Cash And Cash Equivalents [Line Items]
Cash and cash equivalents	$ 356,082	$ 363,773	$ 436,086
Restricted cash	2,600	400
Total cash, cash equivalents and restricted cash shown in the consolidated statements of cash flows	358,679	364,197	436,245	$ 92,376
Prepaid Expenses and Other Current Assets
Cash And Cash Equivalents [Line Items]
Restricted cash	139
Other Assets
Cash And Cash Equivalents [Line Items]
Restricted cash	$ 2,458	$ 424	$ 159

Commitments and Contingencies (Tables)

12 Months Ended

Dec. 31, 2020

Commitments And Contingencies Disclosure [Abstract]

Schedule of Potential Milestone Amounts and Accruals

The table below shows our commitment for the potential milestone amounts of up to $267.4 million and the accruals as of December 31, 2020 for milestones deemed probable of achievement.


	Fixed Monetary Amount		Accrued Amount ⁽¹⁾
Settlement Type	(in thousands)
Cash	$	15,006	$	367
Stock ⁽²⁾		168,407		9,571
Cash or stock at our sole discretion		84,030		634
Total	$	267,443	$	10,572

(1)

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

(2)

Includes the performance-based milestone awards that were granted as part of the 2020 Stock and Equity Award Exchange Program (the “Exchange Program”) further discussed in Note 15.

Income Taxes - Components of Net Loss Before Income Taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Income Tax Disclosure [Abstract]
Domestic	$ 505,488	$ 288,585	$ 169,451
Total loss before income taxes	$ 505,488	$ 288,585	$ 169,451

Fair Value Measurements - Financial Assets and Liabilities Measured at Fair Value on Recurring Basis (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
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:
Total short-term marketable securities	$ 251,011	182,220
Long-term marketable securities:
Total long-term marketable securities		31,144
LianBio Warrants	3,338
Total financial assets	520,786	521,100
Liabilities:
LEO call option liability	5,550	4,078
Embedded derivative	1,340	1,165
Total financial liabilities	6,890	5,243
Recurring \| Repurchase Agreements
Cash equivalents:
Total cash equivalents		59,000
Recurring \| Level 1
Cash equivalents:
Total cash equivalents		307,736
Long-term marketable securities:
Total financial assets	266,437	307,736
Recurring \| Level 1 \| Repurchase Agreements
Cash equivalents:
Total cash equivalents		59,000
Recurring \| Level 2
Short-term marketable securities:
Total short-term marketable securities	251,011	182,220
Long-term marketable securities:
Total long-term marketable securities		31,144
Total financial assets	251,011	213,364
Recurring \| Level 3
Long-term marketable securities:
LianBio Warrants	3,338
Total financial assets	3,338
Liabilities:
LEO call option liability	5,550	4,078
Embedded derivative	1,340	1,165
Total financial liabilities	6,890	5,243
Recurring \| Money Market Funds
Cash equivalents:
Total cash equivalents	266,437	248,736
Recurring \| Money Market Funds \| Level 1
Cash equivalents:
Total cash equivalents	266,437	248,736
Recurring \| U.S. Treasury Bills
Short-term marketable securities:
Total short-term marketable securities	14,999
Recurring \| U.S. Treasury Bills \| Level 2
Short-term marketable securities:
Total short-term marketable securities	14,999
Recurring \| Commercial Paper
Short-term marketable securities:
Total short-term marketable securities	144,851	65,626
Recurring \| Commercial Paper \| Level 2
Short-term marketable securities:
Total short-term marketable securities	144,851	65,626
Recurring \| Corporate Debt Securities
Short-term marketable securities:
Total short-term marketable securities	45,770	71,314
Long-term marketable securities:
Total long-term marketable securities		15,837
Recurring \| Corporate Debt Securities \| Level 2
Short-term marketable securities:
Total short-term marketable securities	45,770	71,314
Long-term marketable securities:
Total long-term marketable securities		15,837
Recurring \| U.S. Treasury Notes
Short-term marketable securities:
Total short-term marketable securities	45,391	45,280
Long-term marketable securities:
Total long-term marketable securities		15,307
Recurring \| U.S. Treasury Notes \| Level 2
Short-term marketable securities:
Total short-term marketable securities	$ 45,391	45,280
Long-term marketable securities:
Total long-term marketable securities		$ 15,307

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
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
Granted, Equivalent Corporation's restricted common stock shares		550,677
Cancelled, Equivalent Corporation's restricted common stock shares	(842)	(1,263)
Ending balance, Equivalent Corporation's restricted common stock shares		9,994,483
Authorized and granted, Equivalent Corporation's restricted common stock shares	2,587,939
Converted into common stock of BridgeBio, Equivalent Corporation's restricted common stock shares	(5,762,125)
Converted into unvested restricted common stock of BridgeBio, Equivalent Corporation's restricted common stock shares	(6,819,455)

Leases - Additional Information (Details) - USD ($) $ in Thousands		1 Months Ended	12 Months Ended
	Jan. 01, 2020	Dec. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Lessee Lease Description [Line Items]
Operating lease, existence of option to extend			true
Finance lease, existence of option to extend			true
Total rent expense				$ 2,800	$ 1,500
One time fees asset non-current		$ 10,000		$ 10,000
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible List]		us-gaap:AssetsNoncurrent		us-gaap:AssetsNoncurrent
Build-to-suit lease liability		$ 8,000		$ 8,000
Remaining payable recorded as other accrued liabilities			$ 4,000
Manufacturing Agreement
Lessee Lease Description [Line Items]
Lease agreement expiration		5 years
Facilities
Lessee Lease Description [Line Items]
Operating lease, lease not yet commenced, undiscounted future payments			$ 6,000
Facilities \| Minimum
Lessee Lease Description [Line Items]
Operating lease, lease not yet commenced, term			5 years
Facilities \| Maximum
Lessee Lease Description [Line Items]
Operating lease, lease not yet commenced, term			12 years
Build To Suit Lease Asset \| ASU 2016-02
Lessee Lease Description [Line Items]
New accounting pronouncement effect of adoption	$ (10,000)
Construction in Progress \| ASU 2016-02
Lessee Lease Description [Line Items]
New accounting pronouncement effect of adoption	$ 10,000

Stock-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2020

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, 2020
	BridgeBio Equity Plan		Eidos Equity Plan		Other Subsidiaries Equity Plan		Total
	(in thousands)
Research and development	$	16,316	$	5,743	$	626	$	22,685
General and administrative		30,285		5,159		330		35,774
Total stock-based compensation	$	46,601	$	10,902	$	956	$	58,459

	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

Summary of Stock Option Activity

The following table summarizes BridgeBio’s stock option activity under the Plans for the period through December 31, 2020:

	Options Outstanding			Weighted- Average Exercise Price per Option		Weighted- Average Remaining Contractual Life (years)		Aggregate Intrinsic Value
	(in thousands, except shares and per share amounts)
Outstanding as of December 31, 2019		4,626,777		$	20.10		9.6	$	70,348
Granted		2,575,143		$	30.56
Granted — Exchange Program		1,349,318		$	2.05
Exercised		(155,968	)	$	18.43
Exercised — Exchange Program		(481,837	)	$	1.74
Cancelled		(267,840	)	$	27.33
Cancelled — Exchange Program		(12,632	)	$	2.81
Outstanding as of December 31, 2020		6,778,112		$	23.83		8.8	$	320,473
Outstanding as of December 31, 2020 — Exchange Program		854,849		$	2.22		8.2	$	58,891
Exercisable as of December 31, 2020		1,736,585		$	21.22		8.4	$	86,644
Exercisable as of December 31, 2020 — Exchange Program		667,553		$	1.75		8.1	$	46,304

Summary of Restricted Stock Units Activity

The following table summarizes BridgeBio’s RSU activity under the Plans for the year ended December 31, 2020:

	Unvested Shares of RSUs Outstanding			Weighted- Average Grant Date Fair Value
Balance at December 31, 2019		362,163		$	31.98
Granted		1,054,676		$	34.18
Vested		(123,321	)	$	33.35
Cancelled		(239,680	)	$	31.16
Balance at December 31, 2020		1,053,838		$	34.21

Summary of Restricted Stock Award Activity

	Unvested Shares of RSAs Outstanding			Weighted- Average Grant Date Fair Value
Balance at December 31, 2019		5,603,452		$	3.63
Granted — Exchange Program		50,145		$	0.18
Granted — Performance-based milestone awards		73,248		$	27.27
Vested		(2,362,479	)	$	3.09
Balance at December 31, 2020		3,364,366		$	4.47

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
Expected term (in years)	1.50		0.75-1.50
Expected volatility	48.0%-49.0%		40.0%-49.0%
Risk-free interest rate	2.34%-2.56%		1.70%-2.56%
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 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 BridgeBio		(5,762,125	)
Converted into unvested restricted common stock of BridgeBio		(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 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 BridgeBio		(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
	Options						Average		Remaining		Aggregate
	Available for			Options			Exercise		Contractual		Intrinsic
	Grant			Outstanding			Option		Life (years)		Value
	(in thousands, except shares and per share amounts)
Outstanding as of December 31, 2019		1,935,054			1,335,755		$	16.91		8.77	$	54,071
Options granted		(685,017	)		685,017		$	46.39
Options exercised		—			(461,732	)	$	17.96
Options cancelled		23,762			(23,762	)	$	19.45
Outstanding as of December 31, 2020		1,273,799			1,535,278		$	29.71		8.46	$	156,399
Options exercisable as of December 31, 2020					371,768		$	18.73		7.86	$	41,954
Options vested and expected to vest as of December 31, 2020					1,535,278		$	29.71		8.46	$	156,399

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 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 December 31,
	2020			2019			2018
Expected term (in years)		6.06			6.07			6.08
Expected volatility		72.1	%		72.4	%		72.0	%
Risk-free interest rate		0.52	%		1.95	%		2.87	%
Dividend yield	—			—			—

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

	Year Ended December 31,
	2020				2019
	Stock Options		ESPP		Stock Options		ESPP
Expected term (in years)	5.00-6.08		0.40-0.65		5.00-6.08			0.40
Expected volatility	36.3%-46.4%		32.5%-47.6%		36.4%-37.5%			43.4	%
Risk-free interest rate	0.31%-1.50%		0.13%-1.57%		1.69%-1.86%			2.12	%
Dividend yield		—		—		—		—
Weighted-average fair value of stock-based awards granted	$	11.29	$	10.48	$	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 Employee Stock Purchase Plan 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,
	2020			2019			2018
Expected term (in years)		0.50			0.50			0.48
Expected volatility		75.46	%		63.06	%		70.40	%
Risk-free interest rate		0.84	%		2.32	%		1.50	%
Dividend yield		—			—			—

Market Based Restricted Stock Units

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

Summary of Restricted Stock Units Activity

The following table summarizes our market-based RSU activity under the Plans for the year ended December 31, 2020:

	Unvested Shares of Market-based RSUs Outstanding			Weighted- Average Grant Date Fair Value
Balance at December 31, 2019		129,871		$	28.98
Granted		2,380		$	34.81
Vested		(76,637	)	$	41.54
Cancelled		(53,234	)	$	10.90
Balance at December 31, 2020		2,380		$	34.81

Equity Method and Other Investments in Equity Method Investees - Additional Information (Detail) - USD ($)		1 Months Ended		9 Months Ended	12 Months Ended			18 Months Ended
	Nov. 19, 2018	Oct. 31, 2019	Dec. 31, 2018	Dec. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2016	Mar. 31, 2019	Jul. 31, 2015
Schedule Of Equity Method Investments [Line Items]
Gain on deconsolidation of PellePharm							$ 19,327,000
Net loss						$ (20,869,000)	(275,000)
PellePharm, Inc
Schedule Of Equity Method Investments [Line Items]
Ownership interest, value			$ 200,000	$ 0		0	200,000		$ 0
Initial investment										$ 4,500,000
Gain on deconsolidation of PellePharm	$ 19,327,000
Estimated fair value of deconsolidated investment	$ 17,300,000
Net loss			300,000			200,000
Equity security investment			$ 16,800,000	$ 0		0	16,800,000
Preferred stock ownership percentage				61.90%
Impairment charges on investments					$ 0	$ 0	$ 0
PellePharm, Inc \| Common Stock
Schedule Of Equity Method Investments [Line Items]
Holding percentage of outstanding common stock	8.00%
PellePharm, Inc \| Common Stock \| Equity Method Investment
Schedule Of Equity Method Investments [Line Items]
Estimated fair value of deconsolidated investment	$ 500,000
PellePharm, Inc \| Preferred Stock
Schedule Of Equity Method Investments [Line Items]
Holding percentage of outstanding common stock	61.90%
Estimated fair value of investment	$ 16,800,000
Minimum \| PellePharm, Inc
Schedule Of Equity Method Investments [Line Items]
Ownership interest percentage								50.00%
Bridge Bio Pharma Limited Liability Company \| Entities Affiliated With Perceptive Life Sciences Master Fund Ltd
Schedule Of Equity Method Investments [Line Items]
Holding percentage of outstanding common stock		10.00%		10.00%		10.00%
Ownership interest, value		$ 3,800,000		$ 0		$ 0
Impairments related investment		$ 0

Debt - Schedule of Future Minimum Payments of Principal Term Loan Payments (Details) $ in Thousands	Dec. 31, 2020 USD ($)
Term loans, Interest on Term Loans and Final End of Term Payments of Hercules
Debt Instrument [Line Items]
2021	$ 6,644
2022	40,216
2023	47,146
Total future payments	94,006
Interest on Term Loans of Hercules
Debt Instrument [Line Items]
Total future payments	(14,483)
Final End of Term Payments of Hercules
Debt Instrument [Line Items]
Total future payments	(4,523)
Term loans of Hercules
Debt Instrument [Line Items]
Total future payments	75,000
Term loans, Interest on Term Loans of Silicon Valley Bank and Hercules \| Tranche A Loan [Member] \| Eidos
Debt Instrument [Line Items]
2021	2,961
2022	9,787
2023	8,622
Total future payments	21,370
Interest on Term Loans of Silicon Valley Bank and Hercules \| Tranche A Loan [Member] \| Eidos
Debt Instrument [Line Items]
Total future payments	(3,870)
Principal Value Of Silicon Valley Bank And Hercules Term Loan \| Tranche A Loan [Member] \| Eidos
Debt Instrument [Line Items]
Total future payments	$ 17,500

Summary of Significant Accounting Policies

12 Months Ended

Dec. 31, 2020

Accounting Policies [Abstract]

Summary of Significant Accounting Policies

2.	Summary of Significant Accounting Policies

Basis of Presentation and Principles of Consolidation

Presentation Reclassifications

Certain reclassifications have been made to the consolidated balance sheet as of December 31, 2019. These reclassifications had no effect on net loss or cash flows as previously reported.

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 VIE model or the VOE model.

Equity Method and Other Investments in Equity Method Investees

Concentration of Credit Risk and Other Risks and Uncertainties

Use of Estimates

Restricted Cash

Cash, Cash Equivalents and Investments

	December 31,
	2020		2019		2018
	(in thousands)
Cash and cash equivalents	$	356,082	$	363,773	$	436,086
Restricted cash — Included in "Prepaid expenses and other current assets"		139		—		—
Restricted cash — Included in "Other assets"		2,458		424		159
Total cash, cash equivalents and restricted cash shown in the consolidated statements of cash flows	$	358,679	$	364,197	$	436,245

Fair Value Measurements

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

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.

Property and Equipment, net

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


Furniture and office equipment		3 - 5 years
Laboratory and machinery equipment		3 - 15 years
Leasehold improvements		Shorter of remaining lease term or estimated useful life of the related asset

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

Leases

Asset Acquisitions

Impairment of Long-Lived Assets

Segments

Capped Call Transactions

Debt Issuance Costs

Treasury Stock

Repurchased treasury stock is recorded at cost, including any commissions and fees.

License Arrangements and Multiple-Element Arrangements

Revenue Recognition

Research and Development Expenses

Accrued Research and Development Liabilities

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

•

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

•

fees paid to investigative sites in connection with clinical trials;

•

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

•

professional service fees for consulting and related services.

Stock-Based Compensation

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

Accrued Milestone Compensation Arrangements

We have performance-based milestone compensation arrangements with certain employees and consultants, 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 (1) cash, (2) equity of BridgeBio, or (3) cash or equity of BridgeBio at our sole election, upon achievement of each contingent milestone. For arrangements that involve settlement by cash or equity of BridgeBio at our sole election, 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 achievement date of each contingent milestone should we elect to settle in equity.

Income Taxes

LEO Call Option Liability

Net Loss per Share

Emerging Growth Company (EGC) Status

Recently Adopted Accounting Pronouncements

Recently Issued Accounting Pronouncements Not Yet Adopted

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2020

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,
	2020		2019		2018
	(in thousands)
Domestic	$	505,488	$	288,585	$	169,451
Foreign		—		—		—
Total loss before income taxes	$	505,488	$	288,585	$	169,451

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,
	2020				2019				2018
Tax at statutory federal rate		21.0		%		21.0		%		21.0		%
Change in valuation allowance		(25.0	)			(25.3	)			(20.2	)
Research and development credits		3.3				4.1				1.6
Stock-based compensation		1.0				—				—
Change in entity status		—				1.7				—
Nontaxable partnership income		—				(1.4	)			(1.2	)
Other		(0.3	)			(0.1	)			(1.2	)
Effective income tax rate		—		%		—		%		—		%

Components of Deferred Tax Assets and Liabilities

Significant components of our deferred tax assets and liabilities are as follows:

	December 31,
	2020			2019
	(in thousands)
Deferred tax assets:
Net operating loss carry-forwards	$	191,308		$	94,335
Amortization		7,427			5,196
Accruals and reserves		5,707			1,917
Stock-based compensation		5,471			1,820
Tax credits		37,964			18,443
Equity method investment		7,608			7,297
Lease liabilities		3,932			—
Other		613			210
Gross deferred tax assets		260,030			129,218
Less valuation allowance		(224,452	)		(128,928	)
Deferred tax assets, net of valuation allowance		35,578			290
Deferred tax liabilities:
Fixed assets		(221	)		(290	)
Right-of-use assets		(3,514	)		—
Debt		(32,938	)		—
Deferred tax liabilities		(36,673	)		(290	)
Net deferred tax assets (liabilities)	$	(1,095	)	$	—

Reconciliation of Unrecognized Tax Benefits

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

	December 31,
	2020			2019
	(in thousands)
Balance at the beginning of the year	$	7,604		$	1,182
Additions (reductions) of prior year positions		(224	)		2,913
Additions based on tax positions related to current year		5,144			3,509
Balance at the end of the year	$	12,524		$	7,604

Leases - Schedule of Future Minimum Lease Payments for Noncancelable Operating and Finance Leases under ASC 842 (Details) $ in Thousands	Dec. 31, 2020 USD ($)
Leases [Abstract]
Operating leases, 2021	$ 4,825
Operating leases, 2022	4,291
Operating leases, 2023	3,434
Operating leases, 2024	3,231
Operating leases, 2025	3,430
Operating leases, Thereafter	2,608
Operating leases, Total future minimum lease payments	21,819
Operating leases, Imputed interest	(3,347)
Operating lease liabilities	18,472
Operating lease liabilities, current portion	3,795
Operating lease liabilities, net of current portion	14,677
Total operating lease liabilities	18,472
Finance lease, 2021	238
Finance lease, 2022	420
Finance lease, 2023	432
Finance lease, 2024	445
Finance lease, 2025	459
Finance lease, Thereafter	37
Finance lease, Total future minimum lease payments	2,031
Finance lease, Imputed interest	(330)
Finance lease, Total	1,701
Finance lease liability, current portion — Included in "Other accrued liabilities"	$ 128
Finance Lease, Liability, Current, Statement of Financial Position [Extensible List]	bbio:OtherAccruedLiabilitiesCurrentMember
Finance lease liability, net of current portion — Included in "Other liabilities"	$ 1,573
Finance Lease, Liability, Noncurrent, Statement of Financial Position [Extensible List]	us-gaap:OtherNoncurrentLiabilitiesMember
Total finance lease liability	$ 1,701

In-licensing Agreements - Additional Information (Details) - USD ($)	1 Months Ended		12 Months Ended
	Mar. 31, 2017	Sep. 30, 2016	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Aug. 31, 2016
Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]
Research and development expense			$ 337,047,000	$ 209,947,000	$ 140,073,000
Eidos Therapeutics, Inc \| Stanford License Agreement \| Leland Stanford Junior University
Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]
License fees	$ 10,000
Milestone payments						$ 1,000,000.0
Research and development expense			$ 0	200,000	300,000
License agreement of percentage			10.00%
Eidos Therapeutics, Inc \| Alexion Agreements \| Leland Stanford Junior University \| License Revenue
Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]
Cost of license revenue				2,500,000
TheRas, Inc \| The Regents Of The University Of California License Agreement \| Regents of University of California
Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]
Research and development expense			$ 100,000	400,000	100,000
License issuance fees		$ 300,000
Minimum royalty requirement		100,000
Contingent milestone payments		$ 22,400,000
TheRas, Inc \| Leidos Biomedical Research License and Cooperative Research and Development Agreements \| Leidos Biomedical Research, Inc
Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]
Research and development expense			2,300,000	1,900,000	900,000
QED Therapeutics, Inc \| Foundation Medicine Diagnostics Agreement \| Foundation Medicine, Inc
Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]
Research and development expense			$ 4,800,000	$ 1,600,000	$ 0

Cash Equivalents and Marketable Securities (Tables)

12 Months Ended

Dec. 31, 2020

Cash Equivalents And Marketable Securities [Abstract]

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

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

	December 31, 2020
	Amortized Cost Basis		Unrealized Gains		Unrealized Losses			Estimated Fair Value
	(in thousands)
Cash equivalents:
Money market funds	$	266,437	$	—	$	—		$	266,437
Short-term marketable securities:
U.S. treasury bills		14,996		3		—			14,999
U.S. treasury notes		45,292		100		(1	)		45,391
Commercial paper		144,851		—		—			144,851
Corporate debt securities		45,680		93		(3	)		45,770
Total short-term marketable securities		250,819		196		(4	)		251,011
Total cash equivalents and marketable securities	$	517,256	$	196	$	(4	)	$	517,448

	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

Cash Equivalents and Marketable Securities

12 Months Ended

Dec. 31, 2020

Cash Equivalents And Marketable Securities [Abstract]

Cash Equivalents and Marketable Securities

4.	Cash Equivalents and Marketable Securities

We invest in certain money market funds and 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, 2020
	Amortized Cost Basis		Unrealized Gains		Unrealized Losses			Estimated Fair Value
	(in thousands)
Cash equivalents:
Money market funds	$	266,437	$	—	$	—		$	266,437
Short-term marketable securities:
U.S. treasury bills		14,996		3		—			14,999
U.S. treasury notes		45,292		100		(1	)		45,391
Commercial paper		144,851		—		—			144,851
Corporate debt securities		45,680		93		(3	)		45,770
Total short-term marketable securities		250,819		196		(4	)		251,011
Total cash equivalents and marketable securities	$	517,256	$	196	$	(4	)	$	517,448

	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

There have been no significant realized gains or losses on available-for-sale securities for the periods presented. As of December 31, 2020, our short-term marketable securities have average contractual maturities of approximately five months. 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. We do not intend to sell our marketable securities and it is not more likely than not that we will be required to sell these securities before recovery of their amortized cost bases.

Fair Value Measurements - Additional Information (Details) - USD ($)	Dec. 31, 2020	Mar. 09, 2020	Dec. 31, 2019
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Fair value assets, transfers between Level 1, Level 2 or Level 3	$ 0		$ 0
Fair value liabilities, transfers between Level 1, Level 2 or Level 3	0		$ 0
2027 Notes
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Debt Instrument face amount	550,000,000.0	$ 550,000,000.0
Estimated fair value of notes payable	$ 997,900,000

Subsequent Events - Additional Information (Details) - USD ($) $ in Thousands			12 Months Ended
	Jan. 28, 2021	Jan. 26, 2021	Dec. 31, 2020
Subsequent Event [Line Items]
Purchase of capped calls			$ 49,280
Repurchase of common stock			75,000
Eidos \| Other Current Assets
Subsequent Event [Line Items]
Deferred merger transaction costs			$ 8,700
Subsequent Event \| 2029 Notes
Subsequent Event [Line Items]
Debt Instrument face amount	$ 717,500
Stated interest rate	2.25%
Proceeds from initial purchasers in note offering	$ 67,500
Debt instrument option to purchase additional notes	97,500
Proceeds from exercise of option to purchase additional notes	$ 30,000
Debt instrument issuance date	Jan. 28, 2021
Debt instrument, frequency of interest payment	semiannually
Interest payable beginning date	Aug. 01, 2021
Maturity date	Feb. 01, 2029
Description of payment terms of notes	The 2029 Notes will accrue interest payable semiannually in arrears on February 1 and August 1 of each year, beginning on August 1, 2021, at a rate of 2.25% per year. The 2029 Notes will mature on February 1, 2029, unless earlier converted, redeemed or repurchased.
Proceeds from issuance of notes after deducting discount and offering expenses	$ 731,700
Purchase of capped calls	61,300
Repurchase of common stock	$ 50,000
Minimum threshold percentage of aggregate principal by trustee or holders	25.00%
Subsequent Event \| Eidos
Subsequent Event [Line Items]
Merger transactions completion date		Jan. 26, 2021
Cash consideration paid		$ 21,300
Number of shares issued in exchange of subsidiary equity		26,100,000
Estimated transaction costs incurred		$ 78,200
Subsequent Event \| Eidos \| Eidos 2016 and 2018 Plans
Subsequent Event [Line Items]
Number of options issued in exchange of subsidiary equity		2,776,672
Number of RSUs issued in exchange of subsidiary equity		25,972

Stock-Based Compensation - Summary of Stock Option Activity under Plans (Details) - 2019 Plan and 2019 Inducement Plan - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Options Outstanding, Outstanding, Beginning balance	4,626,777
Options Outstanding, Granted	2,575,143
Options Outstanding, Exercised	(155,968)
Options Outstanding, Cancelled	(267,840)
Options Outstanding, Outstanding, Ending balance	6,778,112	4,626,777
Options Outstanding, Exercisable	1,736,585
Weighted-Average Exercise Price per Option, Outstanding, Beginning balance		$ 20.10
Weighted-Average Exercise Price per Option, Granted	$ 30.56
Weighted-Average Exercise Price per Option, Exercised	18.43
Weighted-Average Exercise Price per Option, Cancelled	27.33
Weighted-Average Exercise Price per Option, Outstanding, Ending balance	23.83
Weighted-Average Exercise Price per Option, Exercisable	$ 21.22
Weighted-Average Remaining Contractual Life (years), Outstanding, Ending balance	8 years 9 months 18 days	9 years 7 months 6 days
Weighted-Average Remaining Contractual Life (years), Exercisable	8 years 4 months 24 days
Aggregate Intrinsic Value, Outstanding, Ending balance	$ 320,473	$ 70,348
Aggregate Intrinsic Value, Exercisable	$ 86,644
2020 Stock and Equity Award Exchange Program
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Options Outstanding, Granted	1,349,318
Options Outstanding, Exercised	(481,837)
Options Outstanding, Cancelled	(12,632)
Options Outstanding, Outstanding, Ending balance	854,849
Options Outstanding, Exercisable	667,553
Weighted-Average Exercise Price per Option, Granted	$ 2.05
Weighted-Average Exercise Price per Option, Exercised	1.74
Weighted-Average Exercise Price per Option, Cancelled	2.81
Weighted-Average Exercise Price per Option, Outstanding, Ending balance	2.22
Weighted-Average Exercise Price per Option, Exercisable	$ 1.75
Weighted-Average Remaining Contractual Life (years), Outstanding, Ending balance	8 years 2 months 12 days
Weighted-Average Remaining Contractual Life (years), Exercisable	8 years 1 month 6 days
Aggregate Intrinsic Value, Outstanding, Ending balance	$ 58,891
Aggregate Intrinsic Value, Exercisable	$ 46,304

Income Taxes - Components of Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Deferred tax assets:
Net operating loss carry-forwards	$ 191,308	$ 94,335
Amortization	7,427	5,196
Accruals and reserves	5,707	1,917
Stock-based compensation	5,471	1,820
Tax credits	37,964	18,443
Equity method investment	7,608	7,297
Lease liabilities	3,932
Other	613	210
Gross deferred tax assets	260,030	129,218
Less valuation allowance	(224,452)	(128,928)
Deferred tax assets, net of valuation allowance	35,578	290
Deferred tax liabilities:
Fixed assets	(221)	(290)
Right-of-use assets	(3,514)
Debt	(32,938)
Deferred tax liabilities	(36,673)	$ (290)
Net deferred tax liabilities	$ (1,095)

2019 Reorganization and IPO and 2020 Shelf Registration - Additional Information (Details) - USD ($) $ / shares in Units, $ in Thousands			12 Months Ended
	Jul. 01, 2019	Jun. 13, 2019	Dec. 31, 2019	Dec. 31, 2018	Jul. 07, 2020
Reorganization And Initial Public Offering [Line Items]
Net proceeds from IPO, after deducting underwriters' discounts and commissions			$ 366,237	$ 95,536
Common Stock
Reorganization And Initial Public Offering [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
Reorganization And Initial Public Offering [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
Reorganization And Initial Public Offering [Line Items]
Sale of stock, number of shares issued and sold	3,075,000
At-the-Market Offerings \| Common Stock \| Maximum
Reorganization And Initial Public Offering [Line Items]
Common stock, value, issuable					$ 350,000
Percentage of cash commission					3.00%
BBP LLC
Reorganization And Initial Public Offering [Line Items]
Plan of reorganization, exchanged for number of shares		6,819,455