On November 6, 2024, bluebird bio, Inc., a biotechnology company focused on gene therapies, announced the partial adjournment of its annual stockholders' meeting to solicit additional votes for Proposal 4, which involves a reverse stock split. The meeting, which took place on the same day, saw the approval of Proposals 1, 2, 5, 6, and 7, while Proposal 3 was not approved. The adjourned meeting is scheduled to reconvene on December 4, 2024, to address Proposal 4 exclusively. This proposal seeks to amend the company's certificate of incorporation to allow a reverse stock split at a ratio between 1-for-15 and 1-for-20, as determined by the board of directors. CEO Andrew Obenshain cited the risk of delisting from Nasdaq due to the current stock price and the need for additional capital to...Show More

On November 6, 2024, bluebird bio, Inc., a biotechnology company focused on gene therapies, announced the partial adjournment of its annual stockholders' meeting to solicit additional votes for Proposal 4, which involves a reverse stock split. The meeting, which took place on the same day, saw the approval of Proposals 1, 2, 5, 6, and 7, while Proposal 3 was not approved. The adjourned meeting is scheduled to reconvene on December 4, 2024, to address Proposal 4 exclusively. This proposal seeks to amend the company's certificate of incorporation to allow a reverse stock split at a ratio between 1-for-15 and 1-for-20, as determined by the board of directors. CEO Andrew Obenshain cited the risk of delisting from Nasdaq due to the current stock price and the need for additional capital to reach cash flow breakeven in the latter half of the next year. The board strongly encourages stockholders to vote in favor of the reverse stock split, which has received support from proxy advisory firms ISS and Glass Lewis. The company also announced a conference call to discuss third quarter 2024 results on November 14, 2024.