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bluebird bio | 8-K: Current report

SEC announcement ·  Jan 8 00:00
Summary by Moomoo AI
On January 8, 2024, bluebird bio, Inc., a biotechnology company specializing in gene therapies, reported a preliminary unaudited cash, cash equivalents, and marketable securities balance of approximately $275 million as of December 31, 2023. This figure includes restricted cash of about $53 million. The announcement was made in a press release furnished as Exhibit 99.1 to the company's Current Report on Form 8-K filed with the SEC. The financial information is subject to the completion of financial closing procedures and has not been audited or reviewed by the company's independent registered public accounting firm. Additionally, bluebird bio plans to present a corporate update at the J.P. Morgan Healthcare Conference on January 9, 2024, with details provided in Exhibit 99.2. The company's cash position is expected to...Show More
On January 8, 2024, bluebird bio, Inc., a biotechnology company specializing in gene therapies, reported a preliminary unaudited cash, cash equivalents, and marketable securities balance of approximately $275 million as of December 31, 2023. This figure includes restricted cash of about $53 million. The announcement was made in a press release furnished as Exhibit 99.1 to the company's Current Report on Form 8-K filed with the SEC. The financial information is subject to the completion of financial closing procedures and has not been audited or reviewed by the company's independent registered public accounting firm. Additionally, bluebird bio plans to present a corporate update at the J.P. Morgan Healthcare Conference on January 9, 2024, with details provided in Exhibit 99.2. The company's cash position is expected to fund operations into the first quarter of 2025, supporting the launches of its gene therapies for sickle cell disease, beta-thalassemia, and cerebral adrenoleukodystrophy. bluebird bio has also entered into an accounts receivable factoring agreement to accelerate cash collection from its approved therapies. The company's CEO, Andrew Obenshain, highlighted the commercial progress and anticipated patient starts for their therapies in 2024, with the first patient start for LYFGENIA expected in Q1 2024. The company has established agreements with payers covering approximately 200 million U.S. lives and is in discussions with Medicaid agencies. The forward-looking statements in the report are subject to risks and uncertainties, including the company's ability to continue as a going concern.

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