Loading...
•
Sep 30, 2023
Bluebird Bio Q3 2023 Earnings Report
Reported financial results and highlighted operational progress with continued strong commercial launch for ZYNTEGLO® and SKYSONA®.
Key Takeaways
Bluebird Bio reported a net revenue of $12.4 million for Q3 2023, primarily driven by SKYSONA and ZYNTEGLO product revenue. The company's cash, cash equivalents, marketable securities, and restricted cash balance was approximately $227 million as of September 30, 2023. They anticipate full-year 2023 net cash burn to be in the range of $270-$300 million.
Continued strong commercial launch for ZYNTEGLO® and SKYSONA® with 22 patient starts across both programs to date.
Ended quarter with $227M in cash, cash equivalents, marketable securities and restricted cash.
Entered into advance agreement to sell priority review voucher, if granted, for $103 million.
Lovo-cel Biologics Licensing Application (BLA) review remains on track with a Prescription Drug User Fee Act (PDUFA) goal date of December 20, 2023.
Forward Guidance
Bluebird bio anticipates commercial launch of lovo-cel in early 2024, is on track to scale to 40-50 activated QTCs by the end of 2023, and anticipates 5-10 patient starts for SKYSONA this year.
Positive Outlook
- Commercial launch of lovo-cel anticipated in early 2024.
- Company is on track to scale to 40-50 activated QTCs by the end of 2023.
- SKYSONA continues to anticipate 5-10 patient starts this year as previously guided.
- Potential $103 million from the sale of a Rare Pediatric Disease Priority Review Voucher (PRV).
- FDA has set a PDUFA goal date for lovo-cel for December 20, 2023.
Challenges Ahead
- bluebird anticipates full-year 2023 net cash burn to be in the range of $270-$300 million
- Cash, cash equivalents and marketable securities including anticipated cash flows from operations, and excluding $53 million of restricted cash, will be sufficient to meet bluebird’s planned operating expenses and capital expenditure requirements into the second quarter of 2024.
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
Loading earnings performance data...
Loading earnings reaction data...