Bluebird Bio (BLUE) Takes Off on Promising Drug Results

Shares of Cambridge, Massachusetts based Bluebird Bio, Inc. (BLUE) rocketed on Tuesday, against the backdrop of a mixed market on Wall Street. Bluebird's stock was up 72.39%, rising by $35.29 per share, to close at $84.28 on volume of 8,209,814 shares. It was Bluebird's highest close ever. On Monday night, the company announced that one of its drug therapies represents a major advance against a common blood disease.

Founded in 1992, Bluebird Bio, Inc. is a clinical-stage biotechnology company that develops next generation products based on the transformative potential of gene therapy to treat patients with severe genetic and orphan diseases.
It has two clinical-stage programs in development for childhood cerebral adrenoleukodystrophy and beta-thalassemia/sickle cell disease and a preclinical oncology program in the chimeric antigen receptor T cells field. In 2013, Bluebird had a net loss of -$25.32 million on revenues of $20.18 million. Bluebird has 87 employees and its stock trades on the NASDAQ.

On Monday night Bluebird announced that two patients with thalassemia/sickle cell disease have been able to forgo blood transfusions for at least five months after being treated with the company's LentiGlobin BB305 drug product. Included in a series of studies are the first subjects with the beta-0/beta-0 genotype of beta-thalassemia major treated with LentiGlobin BB305 drug product and the first subject with sickle cell disease treated with gene therapy.

"Beta-thalassemia major is a devastating disease that affects 40,000 newborn children globally every year, and the existing treatment options for these patients have significant side effects and limitations," said Alexis A. Thompson, M.D., M.P.H., professor of pediatrics at Northwestern University Feinberg School of Medicine, director of the Comprehensive Thalassemia Program at Ann & Robert H. Lurie Children's Hospital of Chicago and lead investigator of the Northstar Study, who presented the data in an oral presentation. "Data from the Northstar Study presented today further demonstrate the potential for a one-time gene therapy treatment to transform the lives of patients with beta-thalassemia major, including those with the most severe genotype of beta-thalassemia major, beta-0/beta-0, also known as Cooley's Anemia."

The data was presented at the 56th Annual Meeting of the American Society of Hematology (ASH) in San Francisco on Monday. Researchers at the annual meeting said that the two patients who underwent the gene therapy treatment are now experiencing "robust production of hemoglobin."

The stock is up more than 250% year-to-date, and more than 380% since its June, 2013, IPO price of $17 per share.

Other News About Bluebird Bio
Bluebird Bio Reports Fiscal Third Quarter 2014 Financial Results
Bluebird reported a net loss of $17.0 million, or $0.61 per share, for the 3 months.
Insider Trading Alert - BLUE, CHRW And BMY Traded By Insiders
The President and CEO at Bluebird Bio, sold 33,900 shares at $40.22.

Other Stocks in the News
Americans sour on McDonald's food, but are still sweet on the stock
Americans aren't lovin' McDonald's Corp. food, as its slogan would suggest.
Boeing Cuts 747 Production Again
On Tuesday, the company said it would cut production to 1.3 planes per month.

Published on Dec 10, 2014
By Kevin Mercadante

Copyrighted 2020. Content published with author's permission.

Posted in ...