BLUE - Is There Any Hope for bluebird bio Stock?
The share price of bluebird bio (NASDAQ: BLUE) is down a staggering 70% over the past year. The company has encountered more roadblocks than expected on its path to find cures for sickle cell disease (SCD) and beta thalassemia. Worldwide, more than 300,000 babies are born with SCD and over 60,000 are born with beta thalassemia every year.
Patients with SCD have misshapen red blood cells, whereas beta thalassemia patients suffer from a lack of oxygen-carrying hemoglobin in their red blood cells. Patients with these conditions require frequent hospitalization to receive blood transfusions. The only current cure for SCD and beta thalassemia is a bone marrow transplant. Despite trying its best to finding a new cure for these conditions, I don't think it's likely that bluebird bio has the solution.
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Is There Any Hope for bluebird bio Stock?