BLUE - bluebird bio earnings show high cash burn as FDA turns LentiGlobin suspension into a hold

bluebird bio (BLUE) Q4 2020 results missed analyst estimates on both EPS and revenue.Revenue increased modestly quarter over quarter from $10M to $10M and the EPS loss narrowed to ($3.01) from ($4.04).Operating expenses for the quarter were $214.7M and $873.8M million for the year.R&D expenses fell quarter over quarter from $161.8M to $137.1Mbluebird also disclosed that the FDA has ordered a clinical hold on a previously announced voluntary suspension of trials for LentiGlobin for sickle cell disease due to an unexpected serious adverse reaction of acute myeloid leukemia in a patient.The company also says it has temporarily suspended marketing of Zynteglo, a gene therapy for transfusion-dependent beta-thalassaemia in Europe.The EMA has paused renewal of the Zynteglo's conditional marketing authorization as it investigates the therapy's risk-benefit profile and decides whether to add pharmacovigilance measures.bluebird bio shares are up 0.5% to $25.75 in postmarket trading.

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bluebird bio earnings show high cash burn as FDA turns LentiGlobin suspension into a hold