Bluebird Revises Business Priorities And Secures Upfront Cash From Bristol
The company is deferring investment in a US commercial team and prioritizing R&D activities, but it outlined an accelerated path to approval for LentiGlobin in sickle cell disease.
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The path of spin-offs from loss-making biotech companies with weak investment propositions seems clouded with examples that often resulted in an appointment with the liquidator.
Public Company Edition: Moderna leveraged its all-time high stock price to raise $1.34bn on the same day it reported data from a Phase I trial of its COVID-19 vaccine. Several other companies also took advantage of biopharma’s rising value.
The US FDA took issue with the CMC portion of the BLA for the BCMA-targeted therapy idecabtagene vicleucel for multiple myeloma. An approval is tied to a $9 CVR for Celgene shareholders.