RARE Daily

Bluebird Bio Raises $120 Million in Public Offering of Common Stock

January 19, 2023

Bluebird Bio said it raised $120 million in a public offering to support the commercialization and manufacturing of its two approved gene therapies, Zynteglo and Skysona.

The company priced 20 million shares of its common stock at $6.00 per share, before deducting underwriting discounts and commissions. Bluebird also granted the underwriters a 30-day option to purchase up to an additional 3 million shares of its common stock at the public offering price, less underwriting discounts and commissions.

Bluebird will also use the proceeds from the stock offering to accelerate future commercialization activities for its gene therapy candidate, lovo-cel for sickle cell disease, if approved, and to fund working capital and other general corporate purposes.

The U.S. Food and Drug Administration approved Zynteglo in August 2022 for the treatment of beta-thalassemia in adult and pediatric patients requiring regular red blood cell transfusions. The agency approved Skysona in September for the treatment of early, active cerebral adrenoleukodystrophy. Both approvals came with Rare Pediatric Disease Priority Review vouchers, which Bluebird recently sold, one to Argenx for $102 million at the end of December, and one to Bristol Myers Squibb for $95 million in early January.

Author: Rare Daily Staff

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