Bluebird bio's CVR Payout Seen as a Stretch -- Market Talk

Dow Jones2025-02-22

1224 ET - Bluebird bio's deal to be taken private will leave investors with a rich reward or a steep haircut, depending on sales of the company's gene therapies over the next three years. Analysts at William Blair think it will be the latter. Bluebird holders will get an initial $3 a share, 57% below Thursday's closing price, but contingent value rights that would be triggered by 12-month sales of $600 million would bring another $6.84 a share, for a 40% premium. William Blair says it currently models bluebird's sales reaching only $546.4 million in 2027, making the probability of achieving the CVR contingency low. Bluebird slide 39% to $4.29. (colin.kellaher@wsj.com)

(END) Dow Jones Newswires

February 21, 2025 12:24 ET (17:24 GMT)

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