Bridge Biotherapeutics recorded a lower limit on the 15th following the news that it failed in the Phase 2 clinical trial of a new drug for idiopathic pulmonary fibrosis.
Bridge Biotherapeutics fell by 29.91% compared to the previous day, recording a lower limit at 6,280 won as soon as the market opened on this day.
Bridge Biotherapeutics noted on the 14th that it did not observe significant improvement effects in clinical trials of its idiopathic pulmonary fibrosis treatment 'BBT-877'. Idiopathic pulmonary fibrosis is a refractory disease that causes the lungs to harden and lose function, potentially leading to death in severe cases. The global number of patients is estimated to be about 3 million, and the market for idiopathic pulmonary fibrosis treatments is projected to reach approximately 10 trillion won by 2030.
BBT-877 is a substance introduced by LigaChem Biosciences and is a 'first-in-class' treatment that inhibits autotaxin, a protein that causes pulmonary fibrosis.
Bridge Biotherapeutics stated, 'We will review individual patient data and reorganize our clinical development and business strategies.'