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Bluebird bio Reports Results And Progress

Monday, August 10, 2015 5:14:00 AM PDT | VentureDeal
   Cambridge, Massachusetts  --  Biotechnology company bluebird bio (NASDAQ: BLUE) has reported financial results for the second quarter 2015 along with a company progress report.

Bluebird reported losing $51.8 million in the second quarter of 2015, compared to a $1.5 million net loss during the same period in 2014.

The company said it has received positive data from two patients with beta-thalassemia major and a single patient with severe sickle cell disease, who were treated with its LentiGlobin BB305 drug candidate.

All three cases remained transfusion-independent for varying periods of at least three months, with the beta-thalassemia major patients being independent for 14 and 16 months.

Bluebird said that it ended the second quarter with $936.4 million in cash and cash equivalents, which it forecasts to be sufficient to fund its operations through 2018.

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