Good morning, everyone, and welcome to another working week. We hope the weekend respite was refreshing and invigorating, because the oh-so familiar routine of online calls, meetings, and deadlines has predictably returned. But what can you do? The world, after all, keeps spinning. So why not give it a nudge with a delicious cup or three of stimulation? Our choice today is gingerbread spice. As always, please feel free to join us. Meanwhile, here are a few tidbits to digest, as well. We hope your day is productive and meaningful. And of course, do stay in touch. We enjoy your suggestions and feedback. …
Bluebird Bio (BLUE), 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, STAT tells us. 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. A cash shortfall is just the latest in a pileup of clinical, business, and regulatory crises that have buckled Bluebird. Bluebird’s market value has plunged to $350 million, even with two gene therapies under review by U.S. regulators. Revenue was just $3.7 million last year, leading to a net loss of $563 million.
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