05:47 PM EDT, 09/10/2024 (MT Newswires) -- BridgeBio Pharma ( BBIO ) said late Tuesday that it will no longer be pursuing the development of BBP-631 for congenital adrenal hyperplasia, a genetic disease.

The topline results from a phase 1/2 study investigating BBP-631 did not meet the threshold to warrant additional capital investment. BridgeBio Chief Financial Officer Brian Stephenson said it be "reducing the gene therapy budget more than $50 [million]."

The decision is "consistent with our capital allocation principles, and reserving gene therapy for priority targets that we cannot treat any other way," he added.

The company said it is "actively seeking" partnership opportunities to support the future development of BBP-631 or next-generation gene therapies to treat CAH.

The advancements include the increase in endogenous cortisol production achieved in all patients in higher dose cohorts of BBP-631, a result seen for the "first time ever in CAH patients."

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