Bluebird falls after tempering forecast on patients starting its gene therapies

bluebird bio

14/08/2024 16:02

** Gene therapy maker bluebird bio's shares  BLUE.O  fall
15% to ~90 cents in morning trade
    ** BLUE cuts the overall forecast on patients starting on
co's gene therapy to about 85 in 2024 vs 85-105 given in May
    ** Adds started gene therapy in 27 patients to date in 2024
and that starts from sickle cell treatment Lyfgenia to
accelerate in H2
    ** Lyfgenia is expected to be co's largest gene therapy yet,
with an estimated 100,000 people affected by sickle cell disease
in U.S.
    ** Co also has 2 other gene therapies - Zynteglo for another
blood disorder beta-thalassemia and Skysona for a rare
neurological disorder called cerebral adrenoleukodystrophy
    ** Co reports $16.1 mln in Q2 rev. vs estimate of $24.3 mln
- LSEG data
    ** 4 of 12 brokerages rate the stock "buy" or higher, 6
"hold" and 2 "sell"; their median PT is $4
    ** Including session's loss, stock down 35% YTD

 (Reporting by Leroy Leo in Bengaluru)
 ((Leroy.Dsouza@thomsonreuters.com ; https://twitter.com/LeroyLeo7;))