Discussion Forums > Working Towards a Cure
Bluebird Bio Releases Data on Current Gene Therapy Trials
Canadian_Family:
My broker called me today that share price declining as investors and funds are getting impatient about the trial results. Bluebird is planning to announce results in second half of 2016.
Note: I do not have a share position in Bluebird, but keep an eye on corporate development.
Sharmin:
That is very interesting Canadian Family. Hoping for the best!
Canadian_Family:
Excerpt from Motley Fool Article...
bluebird bio's shares plunged on Monday after investors got their first look at the company's presentation slides and didn't like what they saw. Traders sold off shares on the news that it would not be releasing updated clinical data on LentiGlobin BB305 until the next American Society of Hematology meeting in November. Investors had grown accustomed to seeing fresh data in June so the extended waiting period caused many to flee.
During its question-and-answer session with analysts, CEO Nick Leschly was asked about the rationale behind pulling back on its clinical-data reporting schedule. Leschly explained that its LentiGlobin trials have moved beyond the "proof of concept" phase and now they key clinical questions revolve around the therapy's durability. Judging the durability of LentiGlobin requires much more time to gather the clinical data, so the company felt that it didn't make sense to release partial data in June.
Andy Battaglia:
We live in an impatient world where people expect instant gratification. I feel that one unfortunate aspect of Bluebird's openness has been that people expect updates every other week. I don't know of any drug trial where updates are made until a phase of the trial is completed, yet it's expected that we will get weekly updates on gene therapy, which will take longer to perfect than most drugs. I think the investment community has become just as affected by the need for instant gratification as anyone else. It will be really sad if this new normal results in new drugs and therapies being given up on and not funded because it's not happening fast enough to appease the immature investors. And the more I read the pharma biz press, the more I compare them to sportswriters, whose main goal is to tear down athletes. I see the same phenomenon taking place with these biz writers, who act like vultures waiting to swoop in and pronounce failure on therapies and drugs that are still in trials.
Canadian_Family:
Ah Andy,
U are hitting the right cord. This market is brutal, I have seen impatient people loosing their shirts as they are looking for 'Fast Money'. This market does not work on performance rather than on news (people are short). Its unfortunate but true. Big whales at TSX and Wall Street manipulate small investors like vultures......
I don't even want to say anymore as I have seen enough over the years.
What's important for Blue is to ignore the shorts and keep on doing what they do. However, low share price does impact Blue's capacity to run smoothly. Financials do matter for R&D companies like Blue.
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