bluebird bio Inc (BLUE) Q3 2024 Earnings Call Highlights: Navigating Revenue Challenges and ...

GuruFocus.com11-15

Total Revenue: $10.6 million in Q3, down from $16.1 million in Q2. Projected Q4 Revenue: At least $25 million expected. LYFGENIA Revenue: First revenue recognized following initial infusion. Gross to ...

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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nbluebird bio Inc (BLUE) Q3 2024 Earnings Call Highlights: Navigating Revenue Challenges and ...\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-11-15 15:07 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/bluebird-bio-inc-blue-q3-070731544.html><strong>GuruFocus.com</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Total Revenue: $10.6 million in Q3, down from $16.1 million in Q2.\nProjected Q4 Revenue: At least $25 million expected.\nLYFGENIA Revenue: First revenue recognized following initial infusion.\nGross to ...</p>\n\n<a href=\"https://finance.yahoo.com/news/bluebird-bio-inc-blue-q3-070731544.html\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BLUE","symbol_name":"bluebird bio Inc.","start_time":0,"source_url":"https://finance.yahoo.com/news/bluebird-bio-inc-blue-q3-070731544.html","article_id":"2483131425","we_media_id":null,"thumbnails":["https://s.yimg.com/uu/api/res/1.2/ZH_X.SiiElY1iai6Z2VcAQ--~B/aD00MDA7dz00MDA7YXBwaWQ9eXRhY2h5b24-/https://media.zenfs.com/en/us.finance.gurufocus/803545b50cd04a49c47e3de77d6dbda8"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2483131425","pubTimestamp":1731654451,"sourceInfo":{"source_id":"yahoofinance","name":"雅虎金融"},"weMediaInfo":null,"summary":"Total Revenue: $10.6 million in Q3, down from $16.1 million in Q2.Projected Q4 Revenue: At least $25 million expected.LYFGENIA Revenue: First revenue recognized following initial infusion.Gross to Net Discounts: Anticipated range of 20% to 25% for 2024.Cash on Hand: $118.7 million as of September 30, 2024, including $48 million in restricted cash.Cash Operating Expenses Reduction: 20% reduction anticipated by Q3 2025.Cash Flow Breakeven: Expected in the second half of 2025 with 40 drug product deliveries per quarter.GuruFocus has detected 5 Warning Signs with BLUE.bluebird bio Inc  has initiated steps to reduce cash operating expenses by 20% in Q3 2025, aiming for financial stability.Total revenue for the third quarter was $10.6 million, down from $16.1 million in Q2, reflecting variability in manufacturing timelines.Q: Are you seeing 100% manufacturing success rate, and how far out are you scheduling slots into 2025?A: Recollections are a natural part of the process, and sometimes we ","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":["earning"],"viewcount":null,"language":"en","relate_stocks":{"BLUE":"bluebird bio Inc."},"translate_title":"蓝鸟生物公司(BLUE)2024年第三季度收益看涨期权亮点：应对收入挑战和……","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"BLUE":1},"content_text":"Total Revenue: $10.6 million in Q3, down from $16.1 million in Q2.\nProjected Q4 Revenue: At least $25 million expected.\nLYFGENIA Revenue: First revenue recognized following initial infusion.\nGross to Net Discounts: Anticipated range of 20% to 25% for 2024.\nSG&A Expense: Consistent with prior-year period.\nR&D Expense: Down $36.1 million year-over-year.\nCash on Hand: $118.7 million as of September 30, 2024, including $48 million in restricted cash.\nCash Operating Expenses Reduction: 20% reduction anticipated by Q3 2025.\nCash Flow Breakeven: Expected in the second half of 2025 with 40 drug product deliveries per quarter.\n\n\nWarning! GuruFocus has detected 5 Warning Signs with BLUE.\n\nRelease Date: November 14, 2024\nFor the complete transcript of the earnings call, please refer to the full earnings call transcript.\n Positive Points \n\nbluebird bio Inc (NASDAQ:BLUE) more than doubled patient starts from 27 to 57 since the last quarter, indicating strong demand for their therapies.\nThe company has a robust qualified treatment center (QTC) network with over 70 centers, providing broad access to their therapies.\nbluebird bio Inc (NASDAQ:BLUE) has initiated steps to reduce cash operating expenses by 20% in Q3 2025, aiming for financial stability.\nThe company reported its first LYFGENIA revenue, marking a significant milestone in their commercial operations.\nThere have been zero ultimate denials for their therapies across both Medicaid and commercial payers, indicating strong reimbursement support.\n\n Negative Points \n\nTotal revenue for the third quarter was $10.6 million, down from $16.1 million in Q2, reflecting variability in manufacturing timelines.\nThe company anticipates a cash gap in the second quarter of 2025, requiring additional financing to extend their runway.\nThere is a need for a reverse stock split to regain compliance with Nasdaq's minimum bid price, indicating potential financial challenges.\nThe cost of goods remains higher than revenue, resulting in negative margins due to high fixed costs associated with manufacturing.\nbluebird bio Inc (NASDAQ:BLUE) faces variability in patient scheduling and manufacturing timelines, which can impact revenue recognition.\n\n Q & A Highlights \nQ: What are the dynamics around the administration of cells after delivery to treatment centers, and is there any dropout from cell manufacturing to administration? A: We still see 100% pull-through once we deliver cells to a patient being treated. There is variability in patient scheduling, but once we deliver the final drug product to the QTC, it's in their hands. We have seen 100% pull-through once delivered.\nQ: Are you seeing 100% manufacturing success rate, and how far out are you scheduling slots into 2025? A: Recollections are a natural part of the process, and sometimes we need to collect more than once for a patient. Nearly 100% of patients go on to eventual delivery. Patients are being scheduled one to two months out, and we have over 30 patients scheduled for 2025.\nQ: Regarding the 30 patients scheduled in 2025, are these mainly in the first quarter? What is the average cell collection cycle for LYFGENIA patients? A: The vast majority of the 30 patients are scheduled for Q1, with some in Q2. For LYFGENIA, 85% of patients in clinical trials completed in one or two cycles, and we anticipate similar results commercially.\nQ: What is your internal assumption on the conversion rate of scheduled new starts to actual cell collection? Are new starts for LYFGENIA concentrated in a few centers? A: The conversion rate is very high, essentially 100%, with rescheduling being the only variable. The start activity is well spread out among centers, with about 30 QTCs having initiated for one of our therapies.\nQ: Have you figured out how to accelerate the process from cell collection to completion of manufacturing and testing? A: We are seeing consistent timelines with some variability. For LYFGENIA, the first patient was delivered slightly less than the expected timeframe. We are pleased with the quality and timeliness of our manufacturing.\nQ: What drives your confidence in scaling to 40 product deliveries per quarter by the second half of 2025? A: We see strong demand for ZYNTEGLO and LYFGENIA, with expanded manufacturing capacity and a robust QTC network. Over 30 patients are already scheduled for next year, indicating strong market demand.\nQ: Can you speak to the shareholder vote against the reverse stock split and how many shares are authorized to be issued? A: We have about 35 million shares available to issue under current authority. The reverse stock split would increase the number of authorized shares on a relative basis, depending on the Board's decision.\nQ: What is driving the high cost of goods, and what levers can you pull to reduce expenses? A: High fixed costs are associated with manufacturing contracts and FTEs. We expect costs to decrease as volumes increase, with positive gross profit anticipated in 2025. LYFGENIA's suspension vector is lower cost than ZYNTEGLO's, which should help reduce expenses.\nFor the complete transcript of the earnings call, please refer to the full earnings call transcript.This article first appeared on \nGuruFocus.","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.2","shortVersion":"4.29.2","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2483131425"}