bluebird bio reported Q3 2024 net loss of $60.8 million, or $0.31 per share, compared to $87.2 million loss in Q3 2023. Total revenue was $10.6 million, down from $12.4 million year-over-year. The company ended the quarter with cash and cash equivalents of $70.7 million.Management expressed substantial doubt about the company's ability to continue as a going concern, projecting current cash will fund operations only into Q1 2025. The company initiated a restructuring in September 2024, reducing workforce by 25% to optimize costs. A material weakness in internal controls over financial reporting was also identified, leading to restatement of prior period financials.The company is working to secure additional financing while implementing cost-saving measures. Key focus areas include commercialization of approved therapies ZYNTEGLO, SKYSONA and LYFGENIA, though manufacturing challenges and complex reimbursement dynamics remain. The company secured up to $175 million in debt financing from Hercules Capital in March 2024, with $75 million drawn to date.

bluebird bio reported Q3 2024 net loss of $60.8 million, or $0.31 per share, compared to $87.2 million loss in Q3 2023. Total revenue was $10.6 million, down from $12.4 million year-over-year. The company ended the quarter with cash and cash equivalents of $70.7 million.Management expressed substantial doubt about the company's ability to continue as a going concern, projecting current cash will fund operations only into Q1 2025. The company initiated a restructuring in September 2024, reducing workforce by 25% to optimize costs. A material weakness in internal controls over financial reporting was also identified, leading to restatement of prior period financials.The company is working to secure additional financing while implementing cost-saving measures. Key focus areas include commercialization of approved therapies ZYNTEGLO, SKYSONA and LYFGENIA, though manufacturing challenges and complex reimbursement dynamics remain. The company secured up to $175 million in debt financing from Hercules Capital in March 2024, with $75 million drawn to date.