Are you following the Bluebird Bio news? If you are not, it is time to get in the know and turn on your notifications for all the latest updates regarding this company. Because it is posed to reach new heights at any moment.
It is expected that the stocks of this company might be soaring to further heights as an advisory committee of the Food and Drug Administration (FDA) recommended two tests of this biotech company’s experimental gene therapies.
So you might have seen the stocks of the company going up and up only. For your information, the ticker ‘BLUE’ that you might have seen on the screens belongs to this particular company. So despite the overall market situation, the shareholders of this company are getting some highly required respite.
Essential Bluebird Bio News
This is a Cambridge, Massachusetts-based biotechnology company that is focused on developing gene therapies for severe genetic disorders and cancer. Previously, its only approved drug from European Union (EU) was Betigeglogene autotemcel which commonly goes by the name (Zynteglo).
To remind you, this is the world’s second most expensive drug in the world costing $1.8 million. With so much potential the company saw its shares going up but they had been on a steady decline until now. With the approval of two therapies, it is expected to return the lost confidence in its future from investors.
The other pipeline works of the company include LentiGlobin gene therapy for Sickle cell disease and the Cerebral Adrenoleukodystrophy. IT is also working to treat Acute Myeloid leukemia, Merkel-cell carcinoma, MAGEA4 solid tumors, and Diffuse large B-cell lymphoma.
Starting its journey as Genetix Pharmaceuticals in 1992 a brainchild of MIT faculty members Irving London and Philippe Leboulch, this biotechnology entity saw its shares soaring up to $178.29 in 2018 and after that, they were on an overall falling trend.
But with this news, the shares surged about 28.7% to 4.80 on Monday 14 June 2022. The stocks are on track for the largest percentage increase in the last eight years, as per data from Dow Jones Market Data. It is pertinent to know that the shares are down over 46% this year.
The jump in value is expected from the recommendation of the biotech’s gene therapies by the Food and Drug Administration. On June 9th the Cellular, Tissue, and Gene Therapies Advisory Committee of the FDA recommended elivadogene autotmcel or Eli-CEL gene therapy.
This therapy is applicable in the treatment of a disease that is linked to the X chromosome, the early active cerebral adrenoleukodystrophy. On Friday, the same governmental body recommended Betibeglogene autotemcel or beti-cel, this is a single-time therapy designed to treat the beta-thalassemia patients.
After the treatment, there will be no need for the red blood cell transfusions to the affected patients of the disease, who otherwise require it on a regular basis. The FDA is expected to make the official decision for beti-cel on the 19th of August and the date for Eli-CEL is the 16th of September this year.
With this great news, the people have started to take interest in the shares of the company and this is why the Bluebird Bio news is making rounds in the financial quarters across the markets. No matter where the price goes, the bluebird is expected to benefit immensely from these recommendations.