Once high-flying Bluebird Bio sells itself to private equity after tough times for the gene therapy maker [CNBC]
bluebird bio, Inc. (BLUE)
Last bluebird bio, inc. earnings: 2/18 04:05 pm
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Source: CNBC
Bluebird makes three gene therapies: Zynteglo for beta thalassemia, Lyfgenia for sickle cell disease and Skysona for cerebral adrenoleukodystrophy. The entire gene therapy field is facing tough questions about whether these treatments can become successful businesses. Bluebird Bio will sell itself to private equity firms Carlyle and SK Capital for about $30 million, the company said Friday, marking the end of the Bluebird's fall from the one of the buzziest biotech firms to one that was on the cusp of running out of money. Bluebird's shareholders will receive $3 per share with the possibility of getting another $6.84 a share if Bluebird's gene therapies reach $600 million in sales in any 12-month period by the end of 2027. Bluebird shares closed at $7.04 on Thursday. They fell 40% on Friday after the company announced the sale. For more than thirty years, Bluebird has been at the forefront of creating one-time treatments that promised to cure genetic diseases. At one point, B
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