bluebird bio(BLUE)

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bluebird bio downgraded by Bank of America, shares tumble
Proactiveinvestors NA· 2024-11-15 17:38
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bluebird bio(BLUE) - 2024 Q3 - Earnings Call Transcript
2024-11-14 15:06
Financial Data and Key Metrics Changes - In Q3 2024, the company reported total revenue of $10.6 million, down from $16.1 million in Q2 2024, attributed to variations in manufacturing timelines [15][18] - The company anticipates a revenue rebound in Q4 2024 with net revenue of at least $25 million as more patients are infused [15][18] - As of September 30, 2024, the company had $118.7 million in cash on hand, including $48 million in restricted cash [17][19] Business Line Data and Key Metrics Changes - The company has more than doubled patient starts from 27 to 57 across its portfolio since the last earnings call [8][11] - A total of 74 patient starts have been completed or scheduled in 2024, with 57 completed and 17 scheduled for the remainder of the year [11][12] - The company has plans to double the manufacturing capacity for LYFGENIA in 2026 based on anticipated demand [12] Market Data and Key Metrics Changes - More than half of all states have affirmed coverage for LYFGENIA through preferred drug lists or published coverage criteria [13] - Nearly 50% of Medicaid-insured individuals with sickle cell disease in the U.S. live in states that have completed prior authorization approval for LYFGENIA [13] Company Strategy and Development Direction - The company aims for cash flow breakeven in the second half of 2025, contingent on securing additional cash resources and scaling to approximately 40 drug product deliveries per quarter [18][21] - The company is engaging with Hercules to secure adequate cash runway and extend financing options [19][20] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving cash flow breakeven in the second half of next year, supported by strong demand for therapies and a robust QTC network [21] - The company is optimistic about the sustained demand for its therapies, particularly LYFGENIA and ZYNTEGLO, as evidenced by patient scheduling and access approvals [12][46] Other Important Information - The company is currently seeking shareholder approval for a reverse stock split to regain compliance with NASDAQ's minimum bid price [20][49] - The company has implemented significant changes to optimize its cost structure, anticipating a 20% reduction in cash operating expenses by Q3 2025 [18] Q&A Session Summary Question: Revenue dynamics in Q3 - Management confirmed that there is still 100% pull-through once cells are delivered to treatment centers, although scheduling variability exists [24][25] Question: 2025 patient scheduling - Most of the 30 patients scheduled for 2025 are in Q1, with some extending into Q2 [32] Question: Cash gap strategy - The company is in regular contact with Hercules and is exploring renegotiating key contracts to address the cash gap [33] Question: Conversion rates for scheduled patients - The conversion rate from scheduled patients to actual starts is virtually 100%, with some rescheduling occurring [36] Question: Manufacturing timelines - Manufacturing timelines are generally consistent, with LYFGENIA taking 90 to 105 days for completion [40] Question: Confidence in scaling deliveries - Confidence in achieving 40 product deliveries per quarter is based on strong demand signals and an expanding QTC network [46] Question: Shareholder vote details - The company has about 194 million shares authorized, with a request for additional shares through a reverse stock split [49][50] Question: Dropout rates in patient scheduling - The company reported a higher-than-anticipated pull-through rate, with minimal dropouts observed [52]
Bluebird Bio (BLUE) Reports Q3 Loss, Lags Revenue Estimates
ZACKS· 2024-11-14 14:10
Bluebird Bio (BLUE) came out with a quarterly loss of $0.31 per share versus the Zacks Consensus Estimate of a loss of $0.38. This compares to loss of $0.66 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 18.42%. A quarter ago, it was expected that this biotechnology company would post a loss of $0.40 per share when it actually produced a loss of $0.42, delivering a surprise of -5%.Over the last four quarters, the company has ...
bluebird bio(BLUE) - 2024 Q3 - Quarterly Report
2024-11-14 12:06
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 __________________________________________________________________ FORM 10-Q __________________________________________________________________ (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Num ...
bluebird bio(BLUE) - 2024 Q3 - Quarterly Results
2024-11-14 12:01
Exhibit 99.1 bluebird bio Reports Third Quarter 2024 Results and Highlights Operational Progress and 2024 Guidance - 74 patient starts completed or scheduled to date in 2024 across bluebird's commercial portfolio - - Third quarter 2024 net revenue of $10.6 million reflects quarter-to-quarter fluctuations in drug product infusions; anticipate at least $25 million of net revenue in the fourth quarter - - Management to host conference call today, November 14, 2024 at 8:00 am ET - SOMERVILLE, Mass. – November 1 ...
After Plunging -22.76% in 4 Weeks, Here's Why the Trend Might Reverse for Bluebird (BLUE)
ZACKS· 2024-11-08 15:36
Bluebird Bio (BLUE) has been beaten down lately with too much selling pressure. While the stock has lost 22.8% over the past four weeks, there is light at the end of the tunnel as it is now in oversold territory and Wall Street analysts expect the company to report better earnings than they predicted earlier. Guide to Identifying Oversold Stocks We use Relative Strength Index (RSI), one of the most commonly used technical indicators, for spotting whether a stock is oversold. This is a momentum oscillator th ...
Bluebird Bio (BLUE) Stock Dips Amid Market Volatility
Gurufocus· 2024-10-08 19:53
Bluebird Bio (BLUE, Financial) experienced a significant drop in its stock price, declining by 5.67%. The shares are currently trading at $0.491, with a trading volume of 3.72 million shares, a turnover rate of 1.92%, and showing a price amplitude of 4.76%.The recent financial report indicates that Bluebird Bio generated $16.10 million in revenue, with a net loss of $81.39 million. The earnings per share (EPS) stand at -$0.42, and the gross profit is reported at -$12.85 million. The price-to-earnings (P/E) ...
Bluebird Bio (BLUE) Stock Surges 5.04% Amid Market Movements
Gurufocus· 2024-10-02 20:11
Bluebird Bio (BLUE, Financial) stock experienced a notable surge of 5.04% to $0.494 per share. The trading volume reached 6.47552 million shares, resulting in a turnover rate of 3.34% and a volatility of 8.69%.According to the latest financial report, Bluebird Bio posted a revenue of $16.10 million, a net loss of $81.39 million, an earnings per share (EPS) of -$0.42, and a gross profit of -$12.85 million. The company's price-to-earnings (P/E) ratio stands at -0.21.Among the ten institutions that rated the s ...
bluebird bio(BLUE) - 2024 Q2 - Quarterly Report
2024-09-27 20:23
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 __________________________________________________________________ FORM 10-Q __________________________________________________________________ (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: ...
bluebird bio(BLUE) - 2024 Q1 - Quarterly Report
2024-09-13 20:37
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 __________________________________________________________________ FORM 10-Q __________________________________________________________________ (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: ...