bluebird bio reported Q1 2024 total revenue of $18.6 million, up from $2.4 million in Q1 2023, driven primarily by ZYNTEGLO product sales. Net loss was $69.8 million compared to net income of $18.9 million in Q1 2023. Cost of product revenue increased to $25.9 million from $5.5 million last year.Selling, general and administrative expenses rose to $46.3 million from $37.5 million, mainly due to increased headcount and professional fees. Research and development expenses decreased to $25.1 million from $41.6 million, reflecting lower manufacturing costs as commercial production is now included in inventory and cost of goods sold.The company ended the quarter with $212.0 million in cash and cash equivalents. In March 2024, bluebird secured a $175 million term loan facility with Hercules Capital, with $75 million drawn at closing. Management expects current cash to fund operations into Q1 2025, though substantial doubt exists regarding the company's ability to continue as a going concern without additional funding.

bluebird bio reported Q1 2024 total revenue of $18.6 million, up from $2.4 million in Q1 2023, driven primarily by ZYNTEGLO product sales. Net loss was $69.8 million compared to net income of $18.9 million in Q1 2023. Cost of product revenue increased to $25.9 million from $5.5 million last year.Selling, general and administrative expenses rose to $46.3 million from $37.5 million, mainly due to increased headcount and professional fees. Research and development expenses decreased to $25.1 million from $41.6 million, reflecting lower manufacturing costs as commercial production is now included in inventory and cost of goods sold.The company ended the quarter with $212.0 million in cash and cash equivalents. In March 2024, bluebird secured a $175 million term loan facility with Hercules Capital, with $75 million drawn at closing. Management expects current cash to fund operations into Q1 2025, though substantial doubt exists regarding the company's ability to continue as a going concern without additional funding.