bluebird bio Initiates Restructuring Intended to Optimize Cost Structure and Enable Quarterly Cash Flow Break-Even in the Second Half of 2025
bluebird bio (Nasdaq: BLUE) announced a restructuring plan aimed at optimizing its cost structure and achieving quarterly cash flow break-even in the second half of 2025. The plan includes:
1. A 20% reduction in cash operating expenses, fully realized by Q3 2025
2. A 25% workforce reduction
3. A target of scaling to approximately 40 drug product deliveries per quarter
4. Obtaining additional cash resources to extend the company's cash runway
The company reported 41 patient starts year-to-date across its portfolio, up from 27 in mid-August, and anticipates approximately 40 patient starts in Q4 2024. bluebird will focus on the ongoing commercial launches of LYFGENIA, ZYNTEGLO, and SKYSONA while evaluating opportunities to increase its cash resources.
bluebird bio (Nasdaq: BLUE) ha annunciato un piano di ristrutturazione volto a ottimizzare la sua struttura di costi e raggiungere il pareggio di cassa trimestrale nella seconda metà del 2025. Il piano include:
1. Una riduzione del 20% delle spese operative in contante, completamente realizzata entro il terzo trimestre del 2025
2. Una riduzione del 25% della forza lavoro
3. Un obiettivo di scalare a circa 40 consegne di prodotti farmacologici per trimestre
4. Ottenere ulteriori risorse finanziarie per estendere la disponibilità di cassa dell'azienda
La società ha riportato 41 avvii di pazienti dall'inizio dell'anno nel suo portafoglio, in aumento rispetto ai 27 di metà agosto, e prevede circa 40 avvii di pazienti nel quarto trimestre del 2024. bluebird si concentrerà sui lanci commerciali in corso di LYFGENIA, ZYNTEGLO e SKYSONA, valutando nel contempo opportunità per aumentare le sue risorse finanziarie.
bluebird bio (Nasdaq: BLUE) anunció un plan de reestructuración destinado a optimizar su estructura de costos y alcanzar el equilibrio de flujo de caja trimestral en la segunda mitad de 2025. El plan incluye:
1. Una reducción del 20% en los gastos operativos en efectivo, completamente realizada para el tercer trimestre de 2025
2. Una reducción del 25% en la plantilla
3. Un objetivo de escalar a aproximadamente 40 entregas de productos farmacéuticos por trimestre
4. Obtener recursos en efectivo adicionales para extender la disponibilidad de liquidez de la empresa
La compañía reportó 41 inicios de pacientes hasta la fecha en su cartera, frente a 27 a mediados de agosto, y anticipa aproximadamente 40 inicios de pacientes en el cuarto trimestre de 2024. bluebird se centrará en los lanzamientos comerciales en curso de LYFGENIA, ZYNTEGLO y SKYSONA mientras evalúa oportunidades para aumentar sus recursos en efectivo.
bluebird bio (Nasdaq: BLUE)는 비용 구조를 최적화하고 2025년 하반기까지 분기별 현금 흐름 손익 분기점을 달성하기 위한 재구성 계획을 발표했습니다. 이 계획에는 다음이 포함됩니다:
1. 운영 경비를 20% 절감하며, 2025년 3분기까지 완전히 실현
2. 인력의 25% 감축
3. 분기당 약 40개의 의약품 배송 목표
4. 회사의 현금 유용성을 연장하기 위해 추가 자금 확보
회사는 현재까지 포트폴리오 전반에 걸쳐 41명의 환자가 시작되었으며, 이는 8월 중순의 27명에서 증가한 수치입니다. 2024년 4분기에는 약 40명의 환자가 시작될 것으로 예상하고 있습니다. bluebird는 LYFGENIA, ZYNTEGLO 및 SKYSONA의 상업적 출시를 지속적으로 집중하면서 자금 조달 기회를 평가할 것입니다.
bluebird bio (Nasdaq: BLUE) a annoncé un plan de restructuration visant à optimiser sa structure de coûts et à atteindre l'équilibre de trésorerie trimestriel dans la seconde moitié de 2025. Le plan comprend :
1. Une réduction de 20 % des dépenses opérationnelles en espèces, entièrement réalisée d'ici le troisième trimestre 2025
2. Une réduction de 25 % des effectifs
3. Un objectif de montée en puissance à environ 40 livraisons de produits pharmaceutiques par trimestre
4. L'obtention de ressources financières supplémentaires pour prolonger la durée de trésorerie de l'entreprise
L'entreprise a signalé 41 démarrages de patients depuis le début de l'année dans son portefeuille, contre 27 à la mi-août, et anticipe environ 40 démarrages de patients au quatrième trimestre 2024. bluebird se concentrera sur les lancements commerciaux en cours de LYFGENIA, ZYNTEGLO et SKYSONA tout en évaluant les opportunités d'augmenter ses ressources financières.
bluebird bio (Nasdaq: BLUE) hat einen Restrukturierungsplan angekündigt, der darauf abzielt, die Kostenstruktur zu optimieren und im zweiten Halbjahr 2025 den vierteljährlichen Cashflow-Break-even zu erreichen. Der Plan umfasst:
1. Eine Reduzierung der operativen Kosten um 20%, die bis zum dritten Quartal 2025 vollständig umgesetzt wird
2. Eine Reduzierung der Belegschaft um 25%
3. Ein Ziel von etwa 40 Arzneimittelproduktionslieferungen pro Quartal
4. Die Beschaffung zusätzlicher Geldmittel zur Verlängerung der Liquidität des Unternehmens
Das Unternehmen meldete bis heute 41 Patientenstarts in seinem Portfolio, ein Anstieg von 27 Mitte August, und erwartet insgesamt etwa 40 Patientenstarts im vierten Quartal 2024. bluebird wird sich auf die laufenden kommerziellen Einführungen von LYFGENIA, ZYNTEGLO und SKYSONA konzentrieren und gleichzeitig Möglichkeiten zur Erhöhung seiner finanziellen Mittel prüfen.
- 20% reduction in cash operating expenses expected by Q3 2025
- 41 patient starts year-to-date, up from 27 in mid-August
- Anticipates approximately 40 patient starts in Q4 2024
- Focus on commercial launches of three FDA-approved therapies
- 25% workforce reduction
- Need for additional cash resources to extend cash runway
- Cash flow break-even not expected until second half of 2025
Insights
Actions intended to reduce cash operating expenses by approximately
Management team to host conference call today, September 24 at 8:00 am ET
“bluebird has set the standard for gene therapy for more than a decade, and we continue to lead the field in the commercial setting with three potentially transformative FDA-approved therapies,” said Andrew Obenshain, chief executive officer, bluebird bio. “Today we are taking decisive action designed to optimize our cost structure and position the company to attract the additional capital required to unlock the significant commercial opportunity before us. The decision to reduce our workforce in support of a more focused set of priorities was made following a detailed review of the needs and capabilities of our organization, and we are grateful to every bluebird who has helped realize our founding vision of making gene therapy a reality for patients and families impacted by severe genetic diseases.”
As part of the restructuring, bluebird plans to further sharpen its focus on the ongoing commercial launches of LYFGENIA, ZYNTEGLO and SKYSONA to enable continued launch acceleration while the Company evaluates opportunities to increase its cash resources. Year-to-date, there have been 41 patient starts across bluebird’s portfolio, up from 27 reported in mid-August. bluebird anticipates approximately 40 patient starts in Q4 2024.
Investor Conference Call Information
bluebird bio will host a call for analysts and investors today, September 24, 2024 at 8:00 am ET. To access the live conference call via telephone, please register at this link to receive a dial in number and unique PIN.
To access the live webcast of bluebird’s presentation, please visit the “Events & Presentations” page within the Investors & Media section of the bluebird website at http://investor.bluebirdbio.com. A replay of the webcast will be available on the bluebird website for 90 days following the event.
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.
For more information, visit bluebirdbio.com or follow us on social media at @bluebirdbio, LinkedIn, Instagram and YouTube.
bluebird bio Cautionary Statement Regarding 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 objectives and anticipated results of bluebird’s restructuring, including the Company’s ability to optimize its cost structure and enable cash flow break-even in the second half of 2025 and reduce cash operating expenses by approximately
View source version on businesswire.com: https://www.businesswire.com/news/home/20240924257891/en/
Investors:
Courtney O’Leary, 978-621-7347
coleary@bluebirdbio.com
or
Media:
Jess Rowlands, 857-299-6103
jess.rowlands@bluebirdbio.com
Source: bluebird bio, Inc.
FAQ
What is the main goal of bluebird bio's restructuring plan announced on September 24, 2024?
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