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Stock-Based Compensation (Tables) | 9 Months Ended
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Sep. 30, 2021
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] |
Summary of Stock Based Compensation for Employees and Non Employees | Under each of the legal entity’s equity plans, we recorded stock-based compensation in the following expense categories in our condensed consolidated statements of operations for employees and non-employees:
|  | Three Months Ended September 30, 2021 |  |  | Nine Months Ended September 30, 2021 |
|  | BridgeBio Equity Plan |  |  | Other Subsidiaries Equity Plan |  |  | Total |  |  | BridgeBio Equity Plan |  |  | Other Subsidiaries Equity Plan |  |  | Total |
|  | (in thousands) |
Research and development |  | $ | 4,198 |  |  | $ | 610 |  |  | $ | 4,808 |  |  | $ | 44,661 |  |  | $ | 1,880 |  |  | $ | 46,541 |
Selling, general and administrative |  |  | 11,292 |  |  |  | 30 |  |  |  | 11,322 |  |  |  | 33,555 |  |  |  | 2,965 |  |  |  | 36,520 |
Total stock-based compensation |  | $ | 15,490 |  |  | $ | 640 |  |  | $ | 16,130 |  |  | $ | 78,216 |  |  | $ | 4,845 |  |  | $ | 83,061 |
|  | Three Months Ended September 30, 2020 |  |  | Nine Months Ended September 30, 2020 |  |
|  | BridgeBio Equity Plan |  |  | Eidos Equity Plan |  |  | Other Subsidiaries Equity Plan |  |  | Total |  |  | BridgeBio Equity Plan |  |  | Eidos Equity Plan |  |  | Other Subsidiaries Equity Plan |  |  | Total |  |
|  | (in thousands) |  |
Research and development |  | $ | 4,974 |  |  | $ | 1,648 |  |  | $ | 310 |  |  | $ | 6,932 |  |  | $ | 13,194 |  |  | $ | 4,011 |  |  | $ | 538 |  |  | $ | 17,743 |  |
General and administrative |  |  | 8,895 |  |  |  | 1,792 |  |  |  | 80 |  |  |  | 10,767 |  |  |  | 24,260 |  |  |  | 4,074 |  |  |  | 236 |  |  |  | 28,570 |  |
Total stock-based compensation |  | $ | 13,869 |  |  | $ | 3,440 |  |  | $ | 390 |  |  | $ | 17,699 |  |  | $ | 37,454 |  |  | $ | 8,085 |  |  | $ | 774 |  |  | $ | 46,313 |  |
Summary of Stock Option Activity | The following table summarizes BridgeBio’s stock option activity under the Plans for the nine months ended September 30, 2021:
| Options Outstanding |  |  | Weighted- Average Exercise Price per Option |  |  | Weighted- Average Remaining Contractual Life (years) |  |  | Aggregate Intrinsic Value (in thousands) |
Outstanding as of December 31, 2020 |  |  |  |  | 7,632,961 |  |  |  |  |  |  |  |  |  |
Regular equity program |  | 6,778,112 |  |  |  |  |  | $ | 23.83 |  |  |  | 8.8 |  |  |  | 320,473 |
Exchange Program |  | 854,849 |  |  |  |  |  | $ | 2.22 |  |  |  | 8.2 |  |  |  | 58,891 |
Granted |  |  |  |  | 3,830,863 |  |  |  |  |  |  |  |  |  |
Regular equity program |  | 1,054,191 |  |  |  |  |  | $ | 63.82 |  |  |  |  |  |  |
Eidos Awards Exchange |  | 2,776,672 |  |  |  |  |  | $ | 16.33 |  |  |  |  |  |  |
Exercised |  |  |  |  | (1,069,978 | ) |  |  |  |  |  |  |  |  |
Regular equity program |  | (292,143 | ) |  |  |  |  | $ | 19.93 |  |  |  |  |  |  |
Eidos Awards Exchange |  | (497,082 | ) |  |  |  |  | $ | 16.10 |  |  |  |  |  |  |
Exchange Program |  | (280,753 | ) |  |  |  |  | $ | 1.68 |  |  |  |  |  |  |
Cancelled |  |  |  |  | (222,579 | ) |  |  |  |  |  |  |  |  |
Regular equity program |  | (105,089 | ) |  |  |  |  | $ | 27.41 |  |  |  |  |  |  |
Eidos Awards Exchange |  | (113,320 | ) |  |  |  |  | $ | 20.17 |  |  |  |  |  |  |
Exchange Program |  | (4,170 | ) |  |  |  |  | $ | 3.09 |  |  |  |  |  |  |
Outstanding as of September 30, 2021 |  |  |  |  | 10,171,267 |  |  |  |  |  |  |  |  |  |
Regular equity program |  | 7,435,071 |  |  |  |  |  | $ | 29.60 |  |  |  | 8.3 |  |  | $ | 146,291 |
Eidos Awards Exchange |  | 2,166,270 |  |  |  |  |  | $ | 16.18 |  |  |  | 7.1 |  |  | $ | 66,554 |
Exchange Program |  | 569,926 |  |  |  |  |  | $ | 2.48 |  |  |  | 7.4 |  |  | $ | 25,299 |
Exercisable as of September 30, 2021 |  |  |  |  | 4,486,617 |  |  |  |  |  |  |  |  |  |
Regular equity program |  | 2,889,270 |  |  |  |  |  | $ | 23.73 |  |  |  | 8.0 |  |  | $ | 68,522 |
Eidos Awards Exchange |  | 1,102,497 |  |  |  |  |  | $ | 12.22 |  |  |  | 6.2 |  |  | $ | 38,200 |
Exchange Program |  | 494,850 |  |  |  |  |  | $ | 2.03 |  |  |  | 7.4 |  |  | $ | 22,190 |
Summary of Restricted Stock Units Activity | The following table summarizes BridgeBio’s RSU activity under the Plans for the nine months ended September 30, 2021:
|  | Unvested Shares of RSUs Outstanding |  |  | Weighted- Average Grant Date Fair Value |
Balance as of December 31, 2020 |  |  | 1,053,838 |  |  | $ | 34.21 |
Granted |  |  | 1,148,597 |  |  | $ | 65.25 |
Vested |  |  | (377,499 | ) |  | $ | 44.01 |
Cancelled |  |  | (179,555 | ) |  | $ | 53.21 |
Balance as of September 30, 2021 |  |  | 1,645,381 |  |  | $ | 51.55 |
Summary of Restricted Stock Award Activity | The following table summarizes our RSA activity under the Plans for the nine months ended September 30, 2021:
|  | Unvested Shares of RSAs Outstanding |  |  | Weighted- Average Grant Date Fair Value |
Balance as of December 31, 2020 |  |  | 3,364,366 |  |  | $ | 4.47 |
Granted — Exchange Program |  |  | 382,122 |  |  | $ | 61.31 |
Vested — Exchange Program |  |  | (382,122 | ) |  | $ | 61.31 |
Vested — Regular equity program |  |  | (1,231,043 | ) |  | $ | 3.16 |
Cancelled — Regular equity program |  |  | (5,150 | ) |  | $ | 7.27 |
Balance as of September 30, 2021 |  |  | 2,128,173 |  |  | $ | 5.22 |
2019 Employee Stock Purchase Plan |
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] |
Schedule of Assumptions Used to Determine Fair Value of Stock Option Granted | We used the Black-Scholes model to estimate the fair value of stock options and stock purchase rights under the ESPP. For the nine months ended September 30, 2021, we used the following weighted-average assumptions in the Black-Scholes calculations:
| Nine Months Ended September 30, 2021 |
| Stock Options |  |  | ESPP |
Expected term (in years) | 6.00-6.02 |  |  |  | 0.50 |
Expected volatility | 51.43%-51.97% |  |  | 47.61% - 52.04% |
Risk-free interest rate | 0.63%-1.09% |  |  | 0.05% - 0.13% |
Dividend yield |  | — |  |  |  | — |
Weighted-average fair value of stock-based awards granted | $ | 31.03 |  |  | $ | 16.29 |
Restricted Stock Awards |
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] |
Summary of Stock Based Compensation for Employees and Non Employees | During the three and nine months ended September 30, 2021, we recognized stock-based compensation expense related to RSAs under the Plans as follows:
|  | Three Months Ended |  |  | Nine Months Ended |
|  | September 30, 2021 |
|  | (in thousands) |
Exchange Program |  | $ | — |  |  | $ | 23,427 |
Other RSAs |  |  | 1,486 |  |  |  | 4,754 |
Total stock-based compensation expense |  | $ | 1,486 |  |  | $ | 28,181 |

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