BridgeBio Climbs 4% On Strategic Investment From Blue Owl, CPP Investments

(RTTNews) - Stock of BridgeBio Pharma, Inc. (BBIO) gained 4 percent on Thursday after the company announced that it will receive strategic financing of up to $1.25 billion from Blue Owl Capital and Canada Pension Plan Investment Board, a subsidiary of CPPIB Credit Investments Inc.

Currently, BridgeBio's stock is moving up 4.19 percent to $38.46 over the previous close of $36.91 on a volume of 766,322. It had traded between $7.94 and $44.32 in the past 52-week period.

The proposed financing comprises of $500 million in cash from Blue Owl and CPP Investments. Additionally, Blue Owl will provide a credit facility of $450 million and additional incremental facilities of up to $300 million, the company stated.