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Sep 30, 2024
Bluebird Bio Q3 2024 Earnings Report
Bluebird Bio reported third quarter results, highlighting continued commercial momentum and operational progress.
Key Takeaways
Bluebird Bio's Q3 2024 net revenue was $10.6 million. Patient starts more than doubled from Q2 to Q3. The company is focused on securing additional cash resources to extend its runway and reach cash flow break-even in the second half of 2025.
74 patient starts completed or scheduled to date in 2024 across bluebird’s commercial portfolio.
Third quarter 2024 net revenue was $10.6 million.
Anticipate at least $25 million of net revenue in the fourth quarter.
57 patient starts completed to date in 2024 (35 ZYNTEGLO, 17 LYFGENIA, 5 SKYSONA).
Forward Guidance
The Company anticipates net revenue of at least $25 million in the fourth quarter 2024 and quarterly cash flow break-even in the second half of 2025.
Positive Outlook
- Anticipate at least $25 million of net revenue in the fourth quarter
- Continued cost-saving initiatives
- Successfully renegotiating key contracts
- Continued collaborative engagement from Hercules
- Quarterly cash flow break-even in the second half of 2025, assuming it scales to approximately 40 drug product deliveries per quarter
Challenges Ahead
- Delays and challenges in bluebird’s commercialization and manufacturing of its products
- Internal and external costs required for bluebird’s ongoing and planned activities higher than expected
- Substantial doubt exists regarding bluebird’s ability to continue as a going concern
- The risk that additional funding may not be available on acceptable terms, or at all
Historical Earnings Impact
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Avg. Return Before/After Earnings
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