bluebird bio Announces Completion of its Restatement and filing of its 2023 Form 10-K and Q1 2024 Form 10-Q
bluebird bio (Nasdaq: BLUE) has completed the restatement of its financial statements for 2022 and the first three quarters of 2022 and 2023. The company has filed its 2023 Form 10-K and Q1 2024 Form 10-Q with the SEC. The restatement was related to the identification of leases and treatment of non-lease components in lease agreements. Importantly, the restatement had no impact on the company's cash position or revenue. However, bluebird bio is delayed in filing its Q2 2024 Form 10-Q and is working to complete this filing as quickly as possible.
bluebird bio (Nasdaq: BLUE) ha completato la rettifica dei suoi bilanci per il 2022 e i primi tre trimestri del 2022 e del 2023. L'azienda ha presentato il suo Modulo 10-K 2023 e il Modulo 10-Q Q1 2024 alla SEC. La rettifica è stata relativa all'identificazione dei contratti di locazione e al trattamento dei componenti non locativi nei contratti di locazione. È importante notare che la rettifica non ha avuto impatto sulla posizione finanziaria o sui ricavi dell'azienda. Tuttavia, bluebird bio è in ritardo nella presentazione del suo Modulo 10-Q Q2 2024 e sta lavorando per completare questa presentazione il più rapidamente possibile.
bluebird bio (Nasdaq: BLUE) ha completado la reexpresión de sus estados financieros para 2022 y los primeros tres trimestres de 2022 y 2023. La compañía ha presentado su Formulario 10-K 2023 y el Formulario 10-Q Q1 2024 ante la SEC. La reexpresión estuvo relacionada con la identificación de arrendamientos y el tratamiento de componentes no arrendados en los contratos de arrendamiento. Es importante destacar que la reexpresión no tuvo impacto en la posición de efectivo ni en los ingresos de la compañía. Sin embargo, bluebird bio está retrasada en la presentación de su Formulario 10-Q Q2 2024 y está trabajando para completar esta presentación lo más rápido posible.
bluebird bio (Nasdaq: BLUE)은 2022년 및 2022년과 2023년의 첫 세 분기 재무제표를 재작성 완료했습니다. 회사는 SEC에 2023년 10-K 양식과 2024년 1분기 10-Q 양식을 제출했습니다. 재작성은 임대 식별 및 임대 계약의 비임대 구성 요소 처리와 관련이 있었습니다. 중요하게도 재작성은 회사의 현금 위치나 수익에 영향을 미치지 않았습니다. 그러나 bluebird bio는 2024년 2분기 10-Q 양식 제출이 지연되었습니다, 그리고 가능한 빨리 이 제출을 완료하기 위해 노력하고 있습니다.
bluebird bio (Nasdaq: BLUE) a achevé la révision de ses états financiers pour 2022 et les trois premiers trimestres de 2022 et 2023. La société a déposé son formulaire 10-K 2023 et le formulaire 10-Q du premier trimestre 2024 auprès de la SEC. La révision était liée à l'identification des baux et au traitement des composantes non locatives dans les contrats de bail. Il est important de noter que la révision n'a eu aucun impact sur la position de trésorerie ou les revenus de l'entreprise. Cependant, bluebird bio est délayée dans le dépôt de son formulaire 10-Q du deuxième trimestre 2024 et travaille pour compléter ce dépôt le plus rapidement possible.
bluebird bio (Nasdaq: BLUE) hat die Neubewertung seiner Finanzberichte für 2022 sowie für die ersten drei Quartale von 2022 und 2023 abgeschlossen. Das Unternehmen hat sein Formular 10-K für 2023 und Q1 2024 Formular 10-Q bei der SEC eingereicht. Die Neubewertung bezog sich auf die Identifizierung von Mietverträgen und die Behandlung von nicht-mietlichen Komponenten in Mietverträgen. Wichtig ist, dass die Neubewertung keinen Einfluss auf die Liquidität oder Einnahmen des Unternehmens hatte. bluebird bio hat jedoch Verspätung bei der Einreichung seines Formulars 10-Q für das 2. Quartal 2024 und arbeitet daran, diese Einreichung so schnell wie möglich abzuschließen.
- Restatement completed and necessary filings submitted
- No impact on cash position or revenue from restatement
- Delay in filing Q2 2024 Form 10-Q
Insights
The completion of bluebird bio's restatement and filing of its 2023 Form 10-K and Q1 2024 Form 10-Q is a significant development for investors. While the restatement didn't impact cash or revenue, it's important to note that it involved lease identification and treatment of non-lease components. This suggests potential improvements in accounting practices and internal controls. The delay in filing Q2 2024 Form 10-Q is a minor concern, but the company's commitment to expeditious completion is reassuring. Investors should closely examine the restated financials for any material changes in the company's financial position or performance metrics. This event underscores the importance of robust financial reporting systems in biotech firms, where complex agreements are common.
The restatement and subsequent filings by bluebird bio carry significant legal implications. By addressing the accounting issues related to leases and non-lease components, the company has taken proactive steps to ensure compliance with SEC regulations. This action may help mitigate potential regulatory scrutiny or shareholder litigation risks. However, the delay in filing the Q2 2024 Form 10-Q could potentially lead to temporary non-compliance with Nasdaq listing requirements if not resolved promptly. Investors should monitor for any SEC comments or inquiries following these filings. The company's transparency in disclosing the restatement process and its impact (or lack thereof) on cash and revenue positions is a positive sign from a corporate governance perspective.
As previously disclosed, the restatement related to the identification of leases and the treatment of non-lease components contained in lease agreements. The restatement had no impact on the Company’s cash position or revenue.
As a result of the restatement, the Company is delayed in filing its Form 10-Q for the quarter ended June 30, 2024 (the “Q2 2024 Form 10-Q”) and is working expeditiously to complete this filing.
About bluebird bio, Inc.
bluebird bio is pursuing curative gene therapies to give patients and their families more bluebird days.
Founded in 2010, bluebird has been setting the standard for gene therapy for more than a decade—first as a scientific pioneer and now as a commercial leader. bluebird has an unrivaled track record in bringing the promise of gene therapy out of clinical studies and into the real-world setting, having secured FDA approvals for three therapies in under two years. Today, we are proving and scaling the commercial model for gene therapy and delivering innovative solutions for access to patients, providers, and payers.
With a dedicated focus on severe genetic diseases, bluebird has the largest and deepest ex-vivo gene therapy data set in the field, with industry-leading programs for sickle cell disease, β-thalassemia and cerebral adrenoleukodystrophy. We custom design each of our therapies to address the underlying cause of disease and have developed in-depth and effective analytical methods to understand the safety of our lentiviral vector technologies and drive the field of gene therapy forward.
bluebird continues to forge new paths as a standalone commercial gene therapy company, combining our real-world experience with a deep commitment to patient communities and a people-centric culture that attracts and grows a diverse flock of dedicated birds.
Forward-Looking Statements
This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. All statements that are not statements of historical facts are, or may be deemed to be, forward-looking statements, such as statements regarding the filing of the Company’s Q2 2024 Form 10-Q. Such forward-looking statements are based on historical performance and current expectations and projections about bluebird’s future goals, plans and objectives and involve inherent risks, assumptions and uncertainties, including internal or external factors that could delay, divert or change any of them in the next several years, that are difficult to predict, may be beyond bluebird’s control and could cause bluebird’s future goals, plans and objectives to differ materially from those expressed in, or implied by, the statements. No forward-looking statement can be guaranteed. Forward-looking statements in this press release should be evaluated together with the many risks and uncertainties that affect bluebird bio’s business, particularly those identified in the risk factors discussion in bluebird bio’s Annual Report on Form 10-K for the year ended December 31, 2023 and subsequent filings with the SEC. The forward-looking statements included in this document are made only as of the date of this document and except as otherwise required by applicable law, bluebird bio undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, changed circumstances or otherwise.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240913749595/en/
Investors:
Courtney O’Leary, 978-621-7347
coleary@bluebirdbio.com
Media:
Jess Rowlands, 857-299-6103
jess.rowlands@bluebirdbio.com
Source: bluebird bio, Inc.
FAQ
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