Bluebird shares fall on downbeat Q4 revenue, plans to restate past financials

bluebird bio

26/03/2024 12:56

** Shares of bluebird bio  BLUE.O  fall 12.5% to $1.19
premarket
    ** Co posts Q4 revenue of $7.8 mln, below analysts' avg
estimate of $16.7 mln - LSEG 
    ** BLUE also plans to restate its financial statements for
2022 and the first three quarters of last year due to accounting
errors related to some contract manufacturers
    ** Co says there was an estimated understatement of lease
assets and lease liabilities between $100 mln and $200 mln in
2022 and between $30 mln and $125 mln in each of the first three
quarters of 2022 and 2023
    ** Up to last close, stock down 1.5% YTD

 (Reporting by Puyaan Singh)
 ((Puyaan.Singh@thomsonreuters.com;))