Is bluebird bio a Millionaire-Making Biotech?
Over the past 12 months, shares of bluebird bio (NASDAQ: BLUE) are down by 53.4% -- not exactly a performance pointing toward a millionaire-making stock, especially considering the S&P 500 is up by about 6% over the same period. Sure, bluebird's performance in 2019 isn't necessarily indicative of its future. After all, what matters in the stock market is what will happen tomorrow, not what happened yesterday. That said, turning ordinary investors into millionaires isn't an easy thing to do, even for many of the most successful companies. Here's why bluebird bio could have what it takes to do just that.
bluebird bio primarily targets rare diseases such as sickle cell disease (SCD), a condition that distorts the shape of red blood cells. The company seeks to develop treatments using a technique known as gene editing, which consists of replacing the genes responsible for certain conditions with their healthier versions. bluebird bio currently has just one product approved, Zynteglo, which was given the green light to be marketed in Europe in June. Zynteglo is a treatment for transfusion-dependent b-thalassemia (TDT), a genetic blood disorder that leads to a lack of red blood cells.
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Source Fool.com
