JP Morgan Downgrades Gene Therapy Focused Bluebird Bio, Cites Limited Funding Options
On Thursday, Bluebird Bio Inc. (NASDAQ:BLUE) reported a third-quarter EPS loss of 31 cents, compared to a loss of 80 cents a year ago, beating the consensus loss of 36 cents.
The gene therapy company reported sales of $10.6 million, down from $12.39 million, missing the consensus of $18.1 million.
The company’s cash, cash equivalents, and restricted cash balance were approximately $118.7 million, which is expected to provide a cash runway into the first quarter of 2025.
Also Read: Worries Mount Over Cancer Risks in Bluebird Bio’s Gene Therapy
The company anticipates quarterly cash flow break-even in the second half of 2025, assuming it scales to approximately 40 drug product deliveries per quarter and obtains additional cash …
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