Bluebird ended 2021 with $442 million in restricted cash, cash and cash equivalents, and marketable securities. Obenshain also noted that the company plans to file for FDA approval of lovo-cel in treating sickle cell disease in early 2023.Ĭash isn't an immediate problem. Food and Drug Administration (FDA) for Bluebird's gene therapies in beta-thalassemia and cerebral adrenoleukodystrophy (CALD). CEO Andrew Obenshain even said in the company's fourth-quarter update, "2022 is set up to be a landmark year." He mentioned pending approval decisions from the U.S. Rumors of Bluebird's impending death might be exaggerated, though. However, Bluebird's warning about its ability to remain in business certainly rattled investors even more. It's not unusual for a stock to drop when a top executive, especially the CEO or CFO, unexpectedly leaves.
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