Bluebird Bio, the troubled developer of gene therapies, has warned that cash is running short, creating “substantial doubt” about its ability to remain in business after this year.
The company ended 2021 with $397 million to fund operations, but said its projected cash burn for this year is expected to be “less than” $400 million.
“Our expectation to generate operating losses and negative operating cash flows in the future and the need for additional funding to support our planned operations raise substantial doubt regarding our ability to continue as a going concern,” Bluebird said in its annual report filed Friday with the Securities and Exchange Commission.
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