Billionaire Andreas Halvorsen’s Top 15 Long-Term Stock Picks

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

Number of Hedge Fund Holders: 46

Viking Global’s Stake: $639.6 million 

BridgeBio Pharma, Inc. (NASDAQ:BBIO) is a biotechnology company designing transformative medicines for patients with genetic diseases and cancers with clear genetic drivers. The following reasons highlight the company’s strength as an investment target. The first thing that makes Bridgebio Pharma a worthwhile investment is its exceptional financial growth in the third quarter of 2024. For instance, the company reported to have ended the quarter with $406 million in cash, cash equivalents, and short-term restricted cash. It anticipates receiving a $500 million milestone payment under a royalty funding agreement upon Food and Drug Association (FDA) approval of acoramidis, as well as $105 million in aggregate regulatory milestone payments upon approval of acoramidis in European and Japanese territories. Moreover, the company has secured up to $1.25 billion of capital from Blue Owl and CPP investments to accelerate the development and launch of genetic medicines.

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