Why Bluebird Bio Stock Is Sinking This Week
Shares of gene therapy company Bluebird Bio (NASDAQ: BLUE) fell by 10.7% through the first four full days of trading this week, according to data provided by S&P Global Market Intelligence. Bluebird's shares hit the skids last Tuesday immediately after the company provided a corporate update ahead of its presentation at the 40th Annual J.P. Morgan Health Care Conference.
The key issue concerning investors appears to be the biotech's financial health. With two potential regulatory approvals and commercial launches coming down the pike later this year, Bluebird's most recent cash, cash equivalents, and marketable securities balance of approximately $442 million probably won't be sufficient to meet its short-term financial needs.
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Source Fool.com
