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Stock-Based Compensation (Tables) | 6 Months Ended
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Jun. 30, 2022
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 June 30, 2022 |  |  | Six Months Ended June 30, 2022 |
|  | BridgeBio Equity Plan |  |  | Other Subsidiaries Equity Plan |  |  | Total |  |  | BridgeBio Equity Plan |  |  | Other Subsidiaries Equity Plan |  |  | Total |
|  | (in thousands) |
Research and development |  | $ | 14,194 |  |  | $ | 158 |  |  | $ | 14,352 |  |  | $ | 22,680 |  |  | $ | 229 |  |  | $ | 22,909 |
Selling, general and administrative |  |  | 13,951 |  |  |  | 2 |  |  |  | 13,953 |  |  |  | 28,474 |  |  |  | 31 |  |  |  | 28,505 |
Restructuring, impairment and related charges |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 1,172 |  |  |  | — |  |  |  | 1,172 |
Total stock-based compensation |  | $ | 28,145 |  |  | $ | 160 |  |  | $ | 28,305 |  |  | $ | 52,326 |  |  | $ | 260 |  |  | $ | 52,586 |
|  | Three Months Ended June 30, 2021 |  |  | Six Months Ended June 30, 2021 |
|  | BridgeBio Equity Plan |  |  | Other Subsidiaries Equity Plan |  |  | Total |  |  | BridgeBio Equity Plan |  |  | Other Subsidiaries Equity Plan |  |  | Total |
|  | (in thousands) |
Research and development |  | $ | 19,163 |  |  | $ | 121 |  |  | $ | 19,284 |  |  | $ | 40,463 |  |  | $ | 1,270 |  |  | $ | 41,733 |
Selling, general and administrative |  |  | 12,532 |  |  |  | 219 |  |  |  | 12,751 |  |  |  | 22,263 |  |  |  | 2,935 |  |  |  | 25,198 |
Total stock-based compensation |  | $ | 31,695 |  |  | $ | 340 |  |  | $ | 32,035 |  |  | $ | 62,726 |  |  | $ | 4,205 |  |  | $ | 66,931 |
Summary of Stock Option Activity | The following table summarizes BridgeBio’s stock option activity under the Plans for the six months ended June 30, 2022:
| Options Outstanding |  |  | Weighted- Average Exercise Price per Option |  |  | Weighted- Average Remaining Contractual Life (years) |  |  | Aggregate Intrinsic Value (in thousands) |
Outstanding as of December 31, 2021 |  |  |  |  | 12,141,756 |  |  |  |  |  |  |  |  |  |
Regular equity program |  | 9,493,258 |  |  |  |  |  | $ | 31.85 |  |  |  | 8.5 |  |  | $ | — |
Eidos Awards Exchange |  | 2,107,626 |  |  |  |  |  | $ | 16.14 |  |  |  | 6.9 |  |  | $ | 10,147 |
Exchange Program |  | 540,872 |  |  |  |  |  | $ | 2.46 |  |  |  | 7.0 |  |  | $ | 7,956 |
Granted |  |  |  |  |  |  |  |  |  |  |  |  |  |
Regular equity program |  |  |  |  | 1,468,894 |  |  | $ | 8.45 |  |  |  |  |  |  |
Exercised |  |  |  |  | (107,692 | ) |  |  |  |  |  |  |  |  |
Eidos Awards Exchange |  | (37,715 | ) |  |  |  |  | $ | 1.38 |  |  |  |  |  |  |
Exchange Program |  | (69,977 | ) |  |  |  |  | $ | 1.54 |  |  |  |  |  |  |
Cancelled |  |  |  |  | (833,848 | ) |  |  |  |  |  |  |  |  |
Regular equity program |  | (429,897 | ) |  |  |  |  | $ | 34.54 |  |  |  |  |  |  |
Eidos Awards Exchange |  | (389,338 | ) |  |  |  |  | $ | 23.07 |  |  |  |  |  |  |
Exchange Program |  | (14,613 | ) |  |  |  |  | $ | 3.49 |  |  |  |  |  |  |
Outstanding as of June 30, 2022 |  |  |  |  | 12,669,110 |  |  |  |  |  |  |  |  |  |
Regular equity program |  | 10,532,255 |  |  |  |  |  | $ | 28.47 |  |  |  | 8.2 |  |  | $ | 925 |
Eidos Awards Exchange |  | 1,680,573 |  |  |  |  |  | $ | 14.86 |  |  |  | 6.0 |  |  | $ | 2,936 |
Exchange Program |  | 456,282 |  |  |  |  |  | $ | 2.56 |  |  |  | 6.7 |  |  | $ | 3,294 |
Exercisable as of June 30, 2022 |  |  |  |  | 6,154,654 |  |  |  |  |  |  |  |  |  |
Regular equity program |  | 4,491,447 |  |  |  |  |  | $ | 26.18 |  |  |  | 7.3 |  |  | $ | — |
Eidos Awards Exchange |  | 1,241,614 |  |  |  |  |  | $ | 12.67 |  |  |  | 5.5 |  |  | $ | 2,788 |
Exchange Program |  | 421,593 |  |  |  |  |  | $ | 2.29 |  |  |  | 6.6 |  |  | $ | 3,106 |
Summary of Restricted Stock Units Activity | The following table summarizes BridgeBio’s RSU activity under the Plans for the six months ended June 30, 2022:
|  | Unvested Shares of RSUs Outstanding |  |  | Weighted- Average Grant Date Fair Value |
Balance as of December 31, 2021 |  |  | 3,537,719 |  |  | $ | 45.36 |
Granted |  |  | 4,390,492 |  |  | $ | 8.53 |
Vested |  |  | (732,587 | ) |  | $ | 21.95 |
Cancelled |  |  | (1,139,693 | ) |  | $ | 33.66 |
Balance as of June 30, 2022 |  |  | 6,055,931 |  |  | $ | 23.69 |
Summary of Restricted Stock Award Activity | The following table summarizes our RSA activity under the Plans for the six months ended June 30, 2022:
|  | Unvested Shares of RSAs Outstanding |  |  | Weighted- Average Grant Date Fair Value |
Balance as of December 31, 2021 |  |  | 1,789,943 |  |  | $ | 5.50 |
Vested — Regular equity program |  |  | (672,512 | ) |  | $ | 3.80 |
Cancelled — Regular equity program |  |  | (3,425 | ) |  | $ | 5.56 |
Balance as of June 30, 2022 |  |  | 1,114,006 |  |  | $ | 6.52 |
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 Purchase Rights | We used the Black-Scholes model to estimate the fair value of stock purchase rights under the ESPP. For the six months ended June 30, 2022, we used the following weighted-average assumptions in the Black-Scholes calculations:
Expected term (in years) |  | 0.50 |
Expected volatility | 52.04% - 191.67% |
Risk-free interest rate | 0.05% - 0.67% |
Dividend yield |  | — |
Weighted-average fair value of stock-based awards granted | $ | 6.72 |
Restricted Stock Awards |
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] |
Summary of Stock Based Compensation for Employees and Non Employees | For the three and six months ended June 30, 2022, we recognized stock-based compensation expense related to RSAs under the Plans as follows:
|  | Three Months Ended |  |  | Six Months Ended |
|  | June 30, 2022 |
|  | (in thousands) |
Exchange Program |  | $ | — |  |  | $ | — |
Other RSAs |  |  | 1,483 |  |  |  | 2,968 |
Total stock-based compensation expense |  | $ | 1,483 |  |  | $ | 2,968 |

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