BridgeBio (BBIO) late day buy of 2000 August $10/$17.50 call spreads while selling May $10 calls to open as a name lacking any other notable open interest. BBIO seeks to develop transformative medicines to treat patients who suffer from Mendelian diseases, which are diseases that arise from defects in a single gene, and cancers with clear genetic drivers. Its pipeline includes over 30 development programs. Acoramidis (also known as AG10 and BBP-265), a small molecule stabilizer of transthyretin, or TTR, is in an ongoing Phase 3 clinical trial for the treatment of TTR amyloidosis-cardiomyopathy, or ATTR-CM. Low-dose infigratinib (also known as BBP-831), a small molecule selective FGFR1-3 inhibitor is in an ongoing Phase 2 clinical trial for the treatment of achondroplasia in pediatric patients. BBIO has a market cap of $1.2B and trades 2X Cash with analyst forecasts for revenues to reach $575M by FY26. BBIO has 8 Phase 3 readouts over the coming 5 years, 5 of those readouts occurring in markets that are $1 billion or more in size. BBIO presented at the JPM Healthcare Conference this week and sees risk-adjusted $2B in revenues by 2030 and also would likely engage in M&A. For 2023, the 2 key catalyst readouts will be its ATTR-CM program as well as its achondroplasia program, the latter of which we expect in the first week of March, the former of which we expect early July. The ATTR cardiomyopathy market is already $3.1 billion large, growing at above a 65% CAGR. BBIO has the potential to be a comeback story in Biotech with these spreads targeting 100% upside in shares. BBIO short interest is high at 19% of the float.