Following the ongoing trend in the pharmaceutical industry, bluebird bio orchestrated a restructuring that includes saving financially and cutting staff. The restructuring is designed to prolong the company’s budget as bluebird bio awaits decisions from the U.S. Food and Drug Administration (FDA).
Shares of bluebird bio fell in trading on March 7 after the company revealed its dire financial straits.
The U.S. Food and Drug Administration extended the review period for bluebird bio’s Biologics License Applications (BLA) for two of the company’s lentiviral vector gene therapies.
Shares of bluebird bio were down more than 24 percent after the company announced that the U.S. Food and Drug Administration placed a clinical hold on studies of the gene therapy elivaldogene autotemcel (eli-cel) for cerebral adrenoleukodystrophy (CALD).
In a countersuit, Cambridge, Mass.-based bluebird bio is hitting back at Roche-owned Spark Therapeutics over the use of the word “spark” in promotional campaigns involving the company’s “Be the Spark” campaign against sickle cell disease.
Med Ad News talked to Wendbush Securities analysts David Nierengarten, Laura Chico, and Liana Moussatos about various new drug approvals and other recent news updates in the industry.