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home / news releases / BLUE - Bluebird Bio confirms its plan for oncology unit spin-off in 4Q 2021

BLUE - Bluebird Bio confirms its plan for oncology unit spin-off in 4Q 2021

bluebird bio Inc.
Bluebird bio (BLUE) rises 4% in premarket as it confirms its plans to separate its oncology business into differentiated and independent publicly traded company by last quarter of this year. This spin out of Oncology Newco is anticipated to be tax- free to shareholders.The company will retain focus on severe genetic disease ((SGD)). Current President of the SGD business, Andrew Obenshain will take over as CEO of Bluebird bio after the spin-off.Nick Leschly, current Bluebird bio CEO, will lead Oncology Newco as CEO and Daniel Lynch will become the Chairman.Preliminary and unaudited cash, cash equivalents and marketable securities balance as of December 31, 2020 was ~$1.3B.

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Bluebird Bio confirms its plan for oncology unit spin-off in 4Q 2021
Stock Information
Company Name: bluebird bio Inc.
Stock Symbol: BLUE
Market: NASDAQ
Website: bluebirdbio.com
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