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Bluebird bio falls on worries over gene therapy's commercial success

(Reuters) - Bluebird bio slumped nearly 13% on Thursday on concerns over a limited patient pool for its newly approved $2.8 million gene therapy, which investors are hoping can...
Bluebird bio falls on worries over gene therapy's commercial success © Reuters.

(Reuters) - Bluebird bio slumped nearly 13% on Thursday on concerns over a limited patient pool for its newly approved $2.8 million gene therapy, which investors are hoping can help pull the small drugmaker out of a cash crunch.

Zynteglo - which was approved by the U.S. Food and Drug Administration on Wednesday for patients with beta-thalassemia requiring regular blood transfusions - is being priced at a record $2.8 million, making it the most expensive therapy to date.

Despite its price tag, analyst don't foresee the drug becoming a major revenue driver for the company as the addressable patient population is very small and not many patients may be willing to undergo this treatment.

"Don't expect blockbuster sales from Zynteglo," Oppenheimer Company analyst Mark Breidenbach said.

There are an estimated 1,500 beta-thalassemia patients who require regular transfusion in the United States.

Founded in 2010, bluebird has been riddled with challenges in the past few months, pulling Zynteglo from Europe in a dispute over pricing and cutting 30% of its workforce. In March, the company also flagged "going concern" doubts.

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01-05-2024 10:45:17 (UTC+7)

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 EUR/USD1.0658↑ Sell
 GBP/USD1.2475↑ Sell
 USD/JPY157.91↑ Buy
 AUD/USD0.6469Neutral
 USD/CAD1.3780↑ Buy
 EUR/JPY168.32↑ Buy
 EUR/CHF0.9808Neutral
 Gold2,295.80↑ Sell
 Silver26.677↑ Sell
 Copper4.5305↑ Buy
 Crude Oil WTI81.14↑ Sell
 Brent Oil85.62↑ Sell
 Natural Gas1.946↑ Sell
 US Coffee C213.73↑ Sell
 Euro Stoxx 504,920.55↑ Sell
 S&P 5005,035.69↑ Sell
 DAX17,921.95↑ Sell
 FTSE 1008,144.13Sell
 Hang Seng17,763.03↑ Sell
 Small Cap 20001,973.05↑ Sell
 IBEX 3510,854.40Neutral
 BASF49.155↑ Sell
 Bayer27.35↑ Sell
 Allianz266.60↑ Sell
 Adidas226.40↑ Sell
 Lufthansa6.714Neutral
 Siemens AG175.90↑ Sell
 Deutsche Bank AG15.010Neutral
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Cập nhật 01-05-2024 10:45:19
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Cập nhật lúc 10:45:15 01/05/2024
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