Healthcare Stock in the Spotlight: bluebird bio, Inc.’s (NASDAQ: BLUE)

0
349
bluebird bio, Inc.,BLUE

On Friday bluebird bio, Inc.’s (NASDAQ: BLUE) has shown upward/downward moved of +2.74% and ended the last trade at $129.96. The trading volume was recorded to 672,320 shares as compared to average traded volume of 787,861 shares.

bluebird bio, Inc. (BLUE) recently stated financial results and business highlights for the third quarter ended September 30, 2018.

“The emerging data from our LentiGlobin program in SCD demonstrate the potential to rapidly produce high levels of anti-sickling HbAT87Q that we hope will fundamentally reduce sickling and hemolysis, thereby providing a meaningful raise in total hemoglobin and leading to a reduction in clinical events,” stated David Davidson, M.D., chief medical officer, bluebird bio. “We continue to have ongoing dialogue with the U.S. Food and Drug Administration (FDA), in the context of our Regenerative Medicine Advanced Therapy (RMAT) designation, and now plan to pursue an accelerated development path that may allow us to initially validate, and then leverage these clinically meaningful biomarkers to form the primary endpoint of a registration-enabling study for patients with a history of vaso-occlusive events (VOEs). We also plan to conduct future clinical investigation of LentiGlobin in patients with other SCD phenotypes, including those at risk of stroke.”

Third Quarter 2018 Financial Results

  • Cash Position: Cash, cash equivalents and marketable securities as of September 30, 2018 and December 31, 2017 were $2.0B and $1.6B, respectively. The raise in cash, cash equivalents and marketable securities is primarily related to the completion of a public offering of ordinary stock in July 2018, which raised net proceeds of about $600.6M, and the receipt of $100.0M from Regeneron made in connection with the company’s alliance with Regeneron which was entered into in August 2018. The overall raise in cash, cash equivalents and marketable securities was offset by $40.0M paid to Gritstone in connection with the company’s alliance with Gritstone, which was also entered into in August 2018, and cash used in operating activities.
  • Revenues: Total revenues were $11.5M for the three months ended September 30, 2018 contrast to $7.7M for the three months ended September 30, 2017. Total revenues were $35.3M for the nine months ended September 30, 2018 contrast to $31.3M for the nine months ended September 30, 2017. The raise in both periods was primarily attributable to raised manufacturing services under the company’s alliance contract with Celgene, offset by reduced license and royalty revenue.
  • R&D Expenses:Research and development expenses were $116.7M for the three months ended September 30, 2018 contrast to $61.5M for the three months ended September 30, 2017. Research and development expenses were $328.9M for the nine months ended September 30, 2018 contrast to $180.5M for the nine months ended September 30, 2017. The raise in both periods was driven by costs incurred to advance and expand the company’s pipeline and is attributable to raised clinical trial-related costs and manufacturing costs for development programs, raised laboratory expenses, raised employee-related costs Because of headcount growth, and raised license milestones and fees under the company’s planned alliance and license contracts.
  • G&A Expenses: General and administrative expenses were $44.5M for the three months ended September 30, 2018 contrast to $23.0M for the three months ended September 30, 2017. General and administrative expenses were $120.6M for the nine months ended September 30, 2018 contrast to $64.5M for the nine months ended September 30, 2017. The raise in both periods was attributable to raises in employee-related costs Because of raised headcount to support overall growth, commercial-readiness activities, and professional and consulting fees.
  • Net Loss: Net loss was $145.5M for the three months ended September 30, 2018 contrast to $78.8M for the three months ended September 30, 2017. Net loss was $406.6M for the nine months ended September 30, 2018 contrast to $218.4M for the nine months ended September 30, 2017.

 BLUE EPS growth ratio for the past five years was 17.50% while Sales growth for the past five years was 153.30%. Return on equity (ROE) was noted as -31.50% while return on investment (ROI) was -12.70%.

LEAVE A REPLY

Please enter your comment!
Please enter your name here