OCTOBER 05, 2020 / 12:00PM, BBIO.OQ - BridgeBio Pharma Inc and Eidos Therapeutics Inc Announce Merger
Agreement - Conference Call
CORPORATE PARTICIPANTS
Neil Kumar BridgeBio Pharma, Inc. - Co-Founder, CEO & Director
CONFERENCE CALL PARTICIPANTS
George Farmer BMO
Capital Markets Equity Research - Analyst
Gregory Allen Harrison BofA Merrill Lynch, Research Division - Research Analyst
Kyuwon Choi Goldman Sachs Group, Inc., Research Division - Equity Analyst
Rick Stephen Bienkowski SVB Leerink LLC, Research Division - Associate
Salim Qader Syed Mizuho Securities USA LLC, Research Division - MD, Senior Biotechnology Analyst of Equity Research & Head of Biotechnology
Research
Thomas Eugene Shrader BTIG, LLC, Research Division - MD & Healthcare Analyst
Tyler Martin Van Buren Piper Sandler & Co., Research Division - Principal & Senior Biotech Analyst
PRESENTATION
Operator
Ladies and gentlemen, thank you for standing by, and welcome to the BridgeBio Pharma conference call. (Operator Instructions) Please be advised that
todays conference is being recorded. (Operator Instructions)
I would now like to hand the conference over to your speaker today, Dr. Neil
Kumar, Founder and CEO. Please go ahead, sir.
Neil Kumar - BridgeBio Pharma, Inc. - Co-Founder, CEO & Director
Thank you so much, and thanks, everyone, for taking the time, especially amidst a very busy morning for biotech and biology news. As is typical, well be
making forward-looking statements today, and you can read through the details of those in the first 2 pages.
Ill be referring to the announcement
deck throughout, and well call out page numbers so that you can follow along. This call is set up to address the transaction highlighted on Page 4 of that document. BridgeBio will be acquiring all outstanding shares of Eidos Therapeutics for a
41% premium to the unaffected Eidos closing price this past Friday. The details of the deal are spelled out here on Page 4, and Im sure well be speaking with many of you about them throughout the course of the day.
What I wanted to spend my time with you on this morning, however, is not the structure of the deal, but rather why this deal is a good one, we believe, for
both Eidos and Bridge, and most importantly, for the patients and the physicians that we serve. Im going to move to Page 5 now. Very briefly, I believe and we believe that the time is right and the time is now for full investment in the
promise of Eidos, its great team and its compound acoramadis to ensure that no stone goes unturned in late-stage development, commercial development and the commercial launch of this product. And we believe that this full excavation of value for
patients and investors alike is most likely if Eidos operates as a private entity under BridgeBio. It once preserves ownership in the hands of the team that truly understands this molecule and its science and in many cases, has been with it since
its very beginnings, while placing it in a fully and without obstacle unencumbered ecosystem of innovation and development that will spare no effort or dollar to maximize the benefits of this compound.
Let me, on Slide 5, step back for a moment and revisit our better owner hypothesis. This is something weve talked about since the advent of Bridge,
which was very close to the advent of our work with Eidos. We passionately believe that operators that can connect early stage science how to target a well-described disease at its source to medicine and a development plan, and then again, to the
commercial landscape and the patient unmet need and physicians who might want to use the product should the data play out, that entity is best served in holding the drug all the way from early-stage discovery to the marketplace. And we believe that
the team of Eidos within the BridgeBio ecosystem is just such a best owner,
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