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Mar 31, 2023
Bluebird Bio Q1 2023 Earnings Report
Reported financial results for Q1 2023 and highlighted operational progress.
Key Takeaways
Bluebird Bio reported a net income of $21.2 million for the first quarter of 2023, compared to a net loss of $122.2 million for the same period in 2022. The company's cash, cash equivalents, marketable securities, and restricted cash balance was approximately $364 million as of March 31, 2023. First commercial infusions were completed for both ZYNTEGLO® and SKYSONA®.
BLA for lovo-cel for sickle cell disease was submitted to the FDA.
First commercial infusions completed for both ZYNTEGLO® and SKYSONA®.
Ended the quarter with $364M in cash, cash equivalents, marketable securities and restricted cash.
Total revenue, net was $2.4 million.
Bluebird Bio
Bluebird Bio
Forward Guidance
Bluebird bio expects its cash, cash equivalents, restricted cash and marketable securities will be sufficient to meet bluebird’s planned operating expenses and capital expenditure requirements into the fourth quarter of 2024. Full-year 2023 cash burn is expected to be in the range of $270-$300 million.
Positive Outlook
- BLA acceptance of lovo-cel for SCD in Q2 2023.
- Commercial launch in early 2024, if approved.
- On track to scale to 40-50 qualified treatment centers by the end of 2023.
- Continue to anticipate 5-10 patient starts this year as previously guided.