From None: 2024-11-15 07:53:00

JPMorgan analysts downgraded bluebird bio (NASDAQ:BLUE) to Underweight due to financial challenges and limited capital-raising options post third-quarter results. Loss per share was $0.31, missing revenue expectations at $10.6 million. Cash runway guidance revised to last until Q1 2025. Failure to secure shareholder votes for a reverse stock split hinders equity financing options.

Bluebird bio faces constraints in raising capital with limited shares available and a covenant requiring $75 million in financing by December 20. Negative gross margins overshadow milestones like first Lyfgenia infusion and patient start ramp-up. Analysts doubt the company’s ability to achieve positive cash flow by the second half of 2025 and reach 40 infusions per quarter.



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