Gene therapy maker bluebird to restate 2022 financials after accounting error (updated)

bluebird bio

26/03/2024 11:14

(Adds details on error and annual report filing in paragraphs
3-4)
       March 26 (Reuters) - Gene therapy maker bluebird bio
 BLUE.O  said on Tuesday it plans to restate its financial
statements for 2022 and for each of the first three quarters of
2022 and 2023 following accounting errors.
    The company has also identified "material weakness in its
internal control over financial reporting", it said.
    The errors related to accounting of certain arrangements
with some contract manufacturing organizations, according to
bluebird.
    The company said it will require additional time to prepare
and review its financial statements and other disclosures before
filing its Form 10-K annual report for 2023 with the U.S.
Securities and Exchange Commission.

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