2023 Q1 Form 10-K Financial Statement

#000095017023004145 Filed on February 23, 2023

View on sec.gov

Income Statement

Concept 2023 Q1 2022 Q4 2022
Revenue $1.826M $1.870M $77.65M
YoY Change 7.79% -85.49% 11.38%
Cost Of Revenue $651.0K $647.0K $3.434M
YoY Change -51.71% -58.28% 25.56%
Gross Profit $1.175M $1.223M $74.21M
YoY Change 239.6% -89.21% 10.8%
Gross Profit Margin 64.35% 65.4% 95.58%
Selling, General & Admin $31.11M $31.86M $143.2M
YoY Change -28.84% -41.8% -25.5%
% of Gross Profit 2647.49% 2605.23% 192.94%
Research & Development $92.86M $90.90M $399.5M
YoY Change -13.74% -25.61% -11.43%
% of Gross Profit 7903.06% 7432.71% 538.26%
Depreciation & Amortization $1.633M $1.660M $6.771M
YoY Change -13.32% 8.78% 15.88%
% of Gross Profit 138.98% 135.73% 9.12%
Operating Expenses $124.0M $122.8M $542.7M
YoY Change -18.1% -30.62% -15.64%
Operating Profit -$126.2M -$121.5M -$512.2M
YoY Change -27.36% -26.61% -11.17%
Interest Expense $20.12M -$15.90M $80.44M
YoY Change -1.1% 6.33% 71.96%
% of Operating Profit
Other Income/Expense, Net -$16.57M $4.560M $27.55M
YoY Change -40.08% -83.88% -380.49%
Pretax Income -$142.7M -$140.6M -$485.1M
YoY Change -29.11% -7.69% -17.29%
Income Tax $0.00
% Of Pretax Income
Net Earnings -$142.7M -$137.6M -$484.7M
YoY Change -29.11% -6.51% -17.36%
Net Earnings / Revenue -7816.65% -7357.81% -624.17%
Basic Earnings Per Share -$0.92 -$3.26
Diluted Earnings Per Share -$0.92 -$0.92 -$3.26
COMMON SHARES
Basic Shares Outstanding 151.4M 149.5M 147.5M
Diluted Shares Outstanding 152.6M 147.5M

Balance Sheet

Concept 2023 Q1 2022 Q4 2022
SHORT-TERM ASSETS
Cash & Short-Term Investments $491.3M $471.9M $471.9M
YoY Change -26.81% -43.59% -43.59%
Cash & Equivalents $407.4M $376.7M $376.7M
Short-Term Investments $83.93M $95.23M $95.23M
Other Short-Term Assets $61.41M $76.93M $76.93M
YoY Change 36.45% 47.39% 47.39%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $552.7M $548.9M $548.9M
YoY Change -22.83% -38.25% -38.25%
LONG-TERM ASSETS
Property, Plant & Equipment $13.57M $14.57M $25.25M
YoY Change -21.05% -51.54% -45.08%
Goodwill
YoY Change
Intangibles $28.11M $28.71M
YoY Change -7.75% -36.1%
Long-Term Investments
YoY Change
Other Assets $20.77M $20.22M $20.22M
YoY Change -41.21% -38.77% -38.77%
Total Long-Term Assets $72.98M $74.18M $74.18M
YoY Change -24.7% -40.14% -40.14%
TOTAL ASSETS
Total Short-Term Assets $552.7M $548.9M $548.9M
Total Long-Term Assets $72.98M $74.18M $74.18M
Total Assets $625.7M $623.0M $623.0M
YoY Change -23.05% -38.48% -38.48%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $4.076M $11.56M $11.56M
YoY Change -59.67% -2.74% -2.74%
Accrued Expenses $85.85M $101.7M $101.7M
YoY Change -8.05% -17.23% -17.23%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $96.60M $121.4M $121.4M
YoY Change -6.64% -10.1% -10.1%
LONG-TERM LIABILITIES
Long-Term Debt $435.8M $431.0M $1.708B
YoY Change 0.38% 0.06% 0.15%
Other Long-Term Liabilities $17.50M $26.64M $38.92M
YoY Change -34.77% 20.73% 1.74%
Total Long-Term Liabilities $453.3M $457.6M $1.747B
YoY Change -1.67% 1.06% 0.19%
TOTAL LIABILITIES
Total Short-Term Liabilities $96.60M $121.4M $121.4M
Total Long-Term Liabilities $453.3M $457.6M $1.747B
Total Liabilities $1.839B $1.868B $1.878B
YoY Change -0.78% -0.55% -0.29%
SHAREHOLDERS EQUITY
Retained Earnings -$2.057B -$1.918B
YoY Change 25.96% 33.49%
Common Stock $1.107B $938.9M
YoY Change 27.55% 11.55%
Preferred Stock
YoY Change
Treasury Stock (at cost) $275.0M $275.0M
YoY Change 0.0% 0.0%
Treasury Stock Shares $6.192M $6.192M
Shareholders Equity -$1.226B -$1.255B -$1.255B
YoY Change
Total Liabilities & Shareholders Equity $625.7M $623.0M $623.0M
YoY Change -23.05% -38.48% -38.48%

Cashflow Statement

Concept 2023 Q1 2022 Q4 2022
OPERATING ACTIVITIES
Net Income -$142.7M -$137.6M -$484.7M
YoY Change -29.11% -6.51% -17.36%
Depreciation, Depletion And Amortization $1.633M $1.660M $6.771M
YoY Change -13.32% 8.78% 15.88%
Cash From Operating Activities -$144.3M -$93.24M -$419.5M
YoY Change -10.16% -30.36% -15.75%
INVESTING ACTIVITIES
Capital Expenditures $12.00K $801.0K $4.821M
YoY Change -98.6% -131.59% -63.6%
Acquisitions
YoY Change
Other Investing Activities $12.31M $18.77M $0.00
YoY Change -91.17% -22.89% -100.0%
Cash From Investing Activities $12.30M $17.96M $453.1M
YoY Change -91.13% -17.59% -325.64%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net -$4.852M
YoY Change -102.43%
Debt Paid & Issued, Net $0.00 $20.49M
YoY Change -83.49%
Cash From Financing Activities 150.2M 6.377M -13.13M
YoY Change -94005.63% -98.04% -101.78%
NET CHANGE
Cash From Operating Activities -144.3M -93.24M -419.5M
Cash From Investing Activities 12.30M 17.96M 453.1M
Cash From Financing Activities 150.2M 6.377M -13.13M
Net Change In Cash 18.23M -68.90M 20.52M
YoY Change -182.2% -132.3% -45.55%
FREE CASH FLOW
Cash From Operating Activities -$144.3M -$93.24M -$419.5M
Capital Expenditures $12.00K $801.0K $4.821M
Free Cash Flow -$144.3M -$94.04M -$424.3M
YoY Change -10.63% -28.41% -16.99%

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CY2021 bbio Fair Value Of Shares Issued Under License Agreements
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CY2020 bbio Increase Decrease Receivable From Licensing And Collaboration Agreements
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CY2021 us-gaap Increase Decrease In Due From Related Parties
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CY2021 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
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CY2021 bbio Increase Decrease In Accrued Research And Development Liabilities
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CY2021 bbio Proceeds From Sale Of Marketable Securities
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CY2020 bbio Proceeds From Sale Of Marketable Securities
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CY2020 bbio Proceeds From Consolidation Of Entities
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CY2021 us-gaap Payments To Acquire Intangible Assets
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CY2021 bbio Proceeds From Sale Of Priority Review Voucher Excluding Transaction Cost
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CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
396365000
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
358679000
CY2022 us-gaap Interest Paid Net
InterestPaidNet
54443000
CY2021 us-gaap Interest Paid Net
InterestPaidNet
29774000
CY2020 us-gaap Interest Paid Net
InterestPaidNet
15322000
CY2022 bbio Payment In Kind Interest Added To Principal Of Term Loan
PaymentInKindInterestAddedToPrincipalOfTermLoan
1763000
CY2021 bbio Payment In Kind Interest Added To Principal Of Term Loan
PaymentInKindInterestAddedToPrincipalOfTermLoan
0
CY2020 bbio Payment In Kind Interest Added To Principal Of Term Loan
PaymentInKindInterestAddedToPrincipalOfTermLoan
0
CY2022 bbio Deferred Merger Transaction Costs Included In Accounts Payable And Accrued Professional Services
DeferredMergerTransactionCostsIncludedInAccountsPayableAndAccruedProfessionalServices
0
CY2021 bbio Deferred Merger Transaction Costs Included In Accounts Payable And Accrued Professional Services
DeferredMergerTransactionCostsIncludedInAccountsPayableAndAccruedProfessionalServices
0
CY2020 bbio Deferred Merger Transaction Costs Included In Accounts Payable And Accrued Professional Services
DeferredMergerTransactionCostsIncludedInAccountsPayableAndAccruedProfessionalServices
1842000
CY2022 us-gaap Payments For Tenant Improvements
PaymentsForTenantImprovements
0
CY2021 us-gaap Payments For Tenant Improvements
PaymentsForTenantImprovements
2449000
CY2020 us-gaap Payments For Tenant Improvements
PaymentsForTenantImprovements
0
CY2022 bbio Noncash Or Part Noncash Investing Transfer From To Noncontrolling Interest
NoncashOrPartNoncashInvestingTransferFromToNoncontrollingInterest
-3512000
CY2021 bbio Noncash Or Part Noncash Investing Transfer From To Noncontrolling Interest
NoncashOrPartNoncashInvestingTransferFromToNoncontrollingInterest
-2124000
CY2020 bbio Noncash Or Part Noncash Investing Transfer From To Noncontrolling Interest
NoncashOrPartNoncashInvestingTransferFromToNoncontrollingInterest
12034000
CY2022 bbio Recognition Of Property And Equipment Previously Classified In Other Assets
RecognitionOfPropertyAndEquipmentPreviouslyClassifiedInOtherAssets
0
CY2021 bbio Recognition Of Property And Equipment Previously Classified In Other Assets
RecognitionOfPropertyAndEquipmentPreviouslyClassifiedInOtherAssets
0
CY2020 bbio Recognition Of Property And Equipment Previously Classified In Other Assets
RecognitionOfPropertyAndEquipmentPreviouslyClassifiedInOtherAssets
10000000
CY2022 bbio Noncash Or Part Noncash Contributions Made By Noncontrolling Interests
NoncashOrPartNoncashContributionsMadeByNoncontrollingInterests
0
CY2021 bbio Noncash Or Part Noncash Contributions Made By Noncontrolling Interests
NoncashOrPartNoncashContributionsMadeByNoncontrollingInterests
21600000
CY2020 bbio Noncash Or Part Noncash Contributions Made By Noncontrolling Interests
NoncashOrPartNoncashContributionsMadeByNoncontrollingInterests
4727000
CY2022 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
47000
CY2021 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
563000
CY2020 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
1101000
CY2022 bbio Recognized Intangible Asset Recorded In Other Accrued Liabilities And Other Long Term Liabilities
RecognizedIntangibleAssetRecordedInOtherAccruedLiabilitiesAndOtherLongTermLiabilities
11000000
CY2021 bbio Recognized Intangible Asset Recorded In Other Accrued Liabilities And Other Long Term Liabilities
RecognizedIntangibleAssetRecordedInOtherAccruedLiabilitiesAndOtherLongTermLiabilities
12500000
CY2020 bbio Recognized Intangible Asset Recorded In Other Accrued Liabilities And Other Long Term Liabilities
RecognizedIntangibleAssetRecordedInOtherAccruedLiabilitiesAndOtherLongTermLiabilities
0
CY2022 us-gaap Debt Issuance Costs Incurred During Noncash Or Partial Noncash Transaction
DebtIssuanceCostsIncurredDuringNoncashOrPartialNoncashTransaction
0
CY2021 us-gaap Debt Issuance Costs Incurred During Noncash Or Partial Noncash Transaction
DebtIssuanceCostsIncurredDuringNoncashOrPartialNoncashTransaction
1120000
CY2020 us-gaap Debt Issuance Costs Incurred During Noncash Or Partial Noncash Transaction
DebtIssuanceCostsIncurredDuringNoncashOrPartialNoncashTransaction
0
CY2022 bbio Net Non Cash Portion Of Repurchase Of Noncontrolling Interests
NetNonCashPortionOfRepurchaseOfNoncontrollingInterests
0
CY2021 bbio Net Non Cash Portion Of Repurchase Of Noncontrolling Interests
NetNonCashPortionOfRepurchaseOfNoncontrollingInterests
38168000
CY2020 bbio Net Non Cash Portion Of Repurchase Of Noncontrolling Interests
NetNonCashPortionOfRepurchaseOfNoncontrollingInterests
0
CY2022 bbio Direct Transaction Costs In Repurchase Of Noncontrolling Interest Recorded In Additional Paid In Capital Previously Classified In Prepaid Expenses And Other Current Assets
DirectTransactionCostsInRepurchaseOfNoncontrollingInterestRecordedInAdditionalPaidInCapitalPreviouslyClassifiedInPrepaidExpensesAndOtherCurrentAssets
0
CY2021 bbio Direct Transaction Costs In Repurchase Of Noncontrolling Interest Recorded In Additional Paid In Capital Previously Classified In Prepaid Expenses And Other Current Assets
DirectTransactionCostsInRepurchaseOfNoncontrollingInterestRecordedInAdditionalPaidInCapitalPreviouslyClassifiedInPrepaidExpensesAndOtherCurrentAssets
8749000
CY2020 bbio Direct Transaction Costs In Repurchase Of Noncontrolling Interest Recorded In Additional Paid In Capital Previously Classified In Prepaid Expenses And Other Current Assets
DirectTransactionCostsInRepurchaseOfNoncontrollingInterestRecordedInAdditionalPaidInCapitalPreviouslyClassifiedInPrepaidExpensesAndOtherCurrentAssets
0
CY2022Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
376689000
CY2021Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
393772000
CY2021Q4 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
177000
CY2020Q4 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
139000
CY2022Q4 us-gaap Restricted Cash And Cash Equivalents Noncurrent
RestrictedCashAndCashEquivalentsNoncurrent
2265000
CY2021Q4 us-gaap Restricted Cash And Cash Equivalents Noncurrent
RestrictedCashAndCashEquivalentsNoncurrent
2416000
CY2020Q4 us-gaap Restricted Cash And Cash Equivalents Noncurrent
RestrictedCashAndCashEquivalentsNoncurrent
2458000
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
416884000
CY2020Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
356082000
CY2022Q4 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
37930000
CY2022Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
376689000
CY2021Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
393772000
CY2020Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
356082000
CY2020Q4 us-gaap Restricted Cash Current
RestrictedCashCurrent
139000
CY2022Q4 us-gaap Restricted Cash Current
RestrictedCashCurrent
37930000
CY2021Q4 us-gaap Restricted Cash Current
RestrictedCashCurrent
177000
CY2022Q4 us-gaap Restricted Cash Noncurrent
RestrictedCashNoncurrent
2265000
CY2021Q4 us-gaap Restricted Cash Noncurrent
RestrictedCashNoncurrent
2416000
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
396365000
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
358679000
CY2022 us-gaap Nature Of Operations
NatureOfOperations
<div style="text-indent:0.0%;display:flex;margin-top:12.0pt;justify-content:flex-start;align-items:baseline;margin-bottom:0.0pt;min-width:4.537%;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;text-indent:0;display:inline-flex;font-size:10.0pt;font-family:Times New Roman;justify-content:flex-start;min-width:4.537%;">1.</span><div style="display:inline;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">Organization and Description of Business </span></div></div><p style="text-indent:4.533%;font-size:10.0pt;margin-top:12.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">BridgeBio Pharma, Inc. or BridgeBio or the Company, is a commercial-stage biopharmaceutical company founded to discover, create, test and deliver transformative medicines to treat patients who suffer from genetic diseases and cancers with clear genetic drivers. BridgeBio's pipeline of development programs ranges from early science to advanced clinical trials. BridgeBio was founded in 2015 and its team of experienced drug discoverers, developers and innovators are committed to applying advances in genetic medicine to help patients as quickly as possible.</span><span style="color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"> </span></p><p style="text-indent:4.533%;font-size:10.0pt;margin-top:12.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">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, or VIEs for which BridgeBio is the primary beneficiary, or, collectively, we, our, or us. BridgeBio is headquartered in Palo Alto, California.</span></p>
CY2022 us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<p style="text-indent:0.0%;font-size:10.0pt;margin-top:18.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;font-style:italic;min-width:fit-content;">Reclassifications</span></p><p style="text-indent:4.533%;font-size:10.0pt;margin-top:12.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">Certain reclassifications have been made to the consolidated statements of cash flows for the year ended December 31, 2020 </span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">to conform to the current year’s presentation. These reclassifications had no net effect on cash flows from operating, investing and financing activities as previously reported.</span></p>
CY2022 bbio Minimum Required Percentage Of Voting Interests Of Investee To Exercise Significant Influence
MinimumRequiredPercentageOfVotingInterestsOfInvesteeToExerciseSignificantInfluence
0.20
CY2022 us-gaap Use Of Estimates
UseOfEstimates
<p style="text-indent:0.0%;font-size:10.0pt;margin-top:18.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;font-style:italic;min-width:fit-content;">Use of Estimates</span><span style="color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;font-style:italic;min-width:fit-content;"> </span></p><p style="text-indent:4.533%;font-size:10.0pt;margin-top:6.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">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:</span><span style="color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"> </span></p><div style="margin-left:4.528%;text-indent:0.0%;display:flex;margin-top:6.0pt;justify-content:flex-start;align-items:baseline;margin-bottom:0.0pt;min-width:4.537%;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;text-indent:0;display:inline-flex;font-size:10.0pt;font-family:Times New Roman;justify-content:flex-start;min-width:4.7521786492374725%;">•</span><div style="display:inline;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">accruals for research and development activities and contingent clinical, development, regulatory, and sales-based milestone payments in our in-licensing agreements and asset acquisitions, </span></div></div><div style="margin-left:4.528%;text-indent:0.0%;display:flex;margin-top:6.0pt;justify-content:flex-start;align-items:baseline;margin-bottom:0.0pt;min-width:4.537%;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;text-indent:0;display:inline-flex;font-size:10.0pt;font-family:Times New Roman;justify-content:flex-start;min-width:4.7521786492374725%;">•</span><div style="display:inline;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">accruals for performance-based milestone compensation arrangements, </span></div></div><div style="margin-left:4.528%;text-indent:0.0%;display:flex;margin-top:6.0pt;justify-content:flex-start;align-items:baseline;margin-bottom:0.0pt;min-width:4.537%;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;text-indent:0;display:inline-flex;font-size:10.0pt;font-family:Times New Roman;justify-content:flex-start;min-width:4.7521786492374725%;">•</span><div style="display:inline;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">determining and allocating the transaction price to performance obligations for transactions accounted for under ASC 606,</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;font-style:italic;min-width:fit-content;"> Revenue from Contracts with Customers</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">, </span></div></div><div style="margin-left:4.528%;text-indent:0.0%;display:flex;margin-top:6.0pt;justify-content:flex-start;align-items:baseline;margin-bottom:0.0pt;min-width:4.537%;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;text-indent:0;display:inline-flex;font-size:10.0pt;font-family:Times New Roman;justify-content:flex-start;min-width:4.7521786492374725%;">•</span><div style="display:inline;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">the expected recoverability and estimated useful lives of our long-lived assets, and</span></div></div><div style="margin-left:4.528%;text-indent:0.0%;display:flex;margin-top:6.0pt;justify-content:flex-start;align-items:baseline;margin-bottom:0.0pt;min-width:4.537%;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;text-indent:0;display:inline-flex;font-size:10.0pt;font-family:Times New Roman;justify-content:flex-start;min-width:4.7521786492374725%;">•</span><div style="display:inline;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">additional charges as a result of, or that are associated with, any restructuring initiative as well as impairment and related charges. </span></div></div><p style="text-indent:4.533%;font-size:10.0pt;margin-top:12.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">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.</span></p>
CY2022 bbio Cash Cash Equivalents And Restricted Cash Maturity Period
CashCashEquivalentsAndRestrictedCashMaturityPeriod
P90D
CY2020Q4 us-gaap Restricted Cash Noncurrent
RestrictedCashNoncurrent
2458000
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
416884000
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
396365000
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
358679000
CY2022 us-gaap Depreciation And Amortization
DepreciationAndAmortization
4100000
CY2021 us-gaap Depreciation And Amortization
DepreciationAndAmortization
3300000
CY2022 us-gaap Number Of Operating Segments
NumberOfOperatingSegments
1
CY2022 bbio Number Of Business Segments
NumberOfBusinessSegments
1
CY2022Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
0
CY2021Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
0
CY2022 us-gaap Equity Securities Fv Ni Realized Gain Loss
EquitySecuritiesFvNiRealizedGainLoss
3731000
CY2021 us-gaap Equity Securities Fv Ni Realized Gain Loss
EquitySecuritiesFvNiRealizedGainLoss
2206000
CY2022 us-gaap Equity Securities Fv Ni Unrealized Loss
EquitySecuritiesFvNiUnrealizedLoss
11953000
CY2021 us-gaap Equity Securities Fv Ni Unrealized Loss
EquitySecuritiesFvNiUnrealizedLoss
40830000
CY2022 bbio Net Gains Losses Included In Other Income Expense Net
NetGainsLossesIncludedInOtherIncomeExpenseNet
-8222000
CY2021 bbio Net Gains Losses Included In Other Income Expense Net
NetGainsLossesIncludedInOtherIncomeExpenseNet
29914000
CY2022Q4 bbio Fair Value Assets Transfers Between Level One Level Two Or Level Three Amount
FairValueAssetsTransfersBetweenLevelOneLevelTwoOrLevelThreeAmount
0
CY2021Q4 bbio Fair Value Assets Transfers Between Level One Level Two Or Level Three Amount
FairValueAssetsTransfersBetweenLevelOneLevelTwoOrLevelThreeAmount
0
CY2021Q4 bbio Fair Value Liabilities Transfers Between Level One Level Two Or Level Three Amount
FairValueLiabilitiesTransfersBetweenLevelOneLevelTwoOrLevelThreeAmount
0
CY2022Q4 bbio Fair Value Liabilities Transfers Between Level One Level Two Or Level Three Amount
FairValueLiabilitiesTransfersBetweenLevelOneLevelTwoOrLevelThreeAmount
0
CY2022 bbio Gain From Conversion Of Equity Method Investment To Investment In Equity Securities
GainFromConversionOfEquityMethodInvestmentToInvestmentInEquitySecurities
0
CY2021 bbio Gain From Conversion Of Equity Method Investment To Investment In Equity Securities
GainFromConversionOfEquityMethodInvestmentToInvestmentInEquitySecurities
68538000
CY2021Q1 bbio Leo Call Option Liability Current
LEOCallOptionLiabilityCurrent
0
CY2021 bbio Call Option Expense Income
CallOptionExpenseIncome
-5600000
CY2022Q4 bbio Estimated Fair Value Of Outstanding Term Loan
EstimatedFairValueOfOutstandingTermLoan
377200000
CY2021 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
2600000
CY2022Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Rolling Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseRollingYearTwo
2400000
CY2022Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Rolling Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseRollingYearThree
2400000
CY2022Q4 us-gaap Cash Equivalents At Carrying Value
CashEquivalentsAtCarryingValue
362062000
CY2022Q4 bbio Cash Equivalents Unrealized Gains
CashEquivalentsUnrealizedGains
0
CY2022Q4 bbio Cash Equivalents Unrealized Losses
CashEquivalentsUnrealizedLosses
-54000
CY2022Q4 us-gaap Cash And Cash Equivalents Fair Value Disclosure
CashAndCashEquivalentsFairValueDisclosure
362008000
CY2022Q4 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
413916000
CY2022Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
0
CY2022Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
328000
CY2022Q4 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
413588000
CY2021Q4 us-gaap Cash Equivalents At Carrying Value
CashEquivalentsAtCarryingValue
233103000
CY2021Q4 bbio Cash Equivalents Unrealized Gains
CashEquivalentsUnrealizedGains
0
CY2021Q4 bbio Cash Equivalents Unrealized Losses
CashEquivalentsUnrealizedLosses
-2000
CY2021Q4 us-gaap Cash And Cash Equivalents Fair Value Disclosure
CashAndCashEquivalentsFairValueDisclosure
233101000
CY2021Q4 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
626976000
CY2021Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
2000
CY2021Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
134000
CY2021Q4 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
626844000
CY2022 us-gaap Debt Securities Available For Sale Realized Gain Loss
DebtSecuritiesAvailableForSaleRealizedGainLoss
0
CY2022 bbio Short Term Marketable Securities Contractual Maturities
ShortTermMarketableSecuritiesContractualMaturities
P6M
CY2021 bbio Short Term Marketable Securities Contractual Maturities
ShortTermMarketableSecuritiesContractualMaturities
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CY2022 bbio Adjustments Of Carrying Value Of Noncontrolling Interest Additional Paid In Capital
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