10 Worst Performing Biotech Stocks in 2024

2. BridgeBio Pharma, Inc. (NASDAQ:BBIO)

YTD Return: -35.13% 

BridgeBio Pharma, Inc. (NASDAQ:BBIO) is a commercial-stage biopharmaceutical company focused on developing transformative medicines for patients with genetic diseases and cancers. Its primary business involves discovering and testing treatments for rare genetic disorders and cancers with clear genetic drivers.

BridgeBio Pharma, Inc. (NASDAQ:BBIO)’s revenue boost from licensing agreements highlights its ability to monetize intellectual property and forge strategic partnerships. The company’s diverse pipeline of genetic disease treatments serves as a potential catalyst, with positive clinical trial results expected to impact its prospects. Additionally, in August 2024, BridgeBio formed GondolaBio, a joint venture focused on early-stage programs, securing $300 million in financing from investors to support drug development.

In Q2 2024, BridgeBio Pharma, Inc. (NASDAQ:BBIO) reported revenue of $2.2 million, a slight increase from $1.6 million in Q2 2023. While this revenue growth is minimal, the company improved its net loss to $73.5 million from $157.9 million, primarily due to a $126.3 million gain on the deconsolidation of a subsidiary.

As of June 30, 2024, BridgeBio had $587.2 million in cash and equivalents, up from $392.6 million at the end of 2023, mainly from net proceeds from a term loan and equity financings. However, the company’s total debt stood at $447.13 million, raising concerns about financial stability.

BridgeBio’s stock performance has struggled due to several factors, including inconsistent revenue growth, ongoing significant losses, high operating expenses—especially in R&D—and a substantial debt burden that pressures financial flexibility and increases risk. With a year-to-date decline of over 35%, BBIO is one of the worst performing biotech stocks on our list.