ARTICLE | Financial News

bluebird raises $600M on heels of ASH data

December 13, 2017 6:51 PM UTC

bluebird bio Inc. (NASDAQ:BLUE) raised $600 million late Tuesday through the sale of 3.2 million shares at $185 in a follow-on underwritten by Goldman Sachs, BofA Merrill Lynch, JPMorgan and Cowen. The price is an 8% discount to bluebird's close of $201.80 on Monday, when it proposed the offering after market hours.

bluebird gained $30.65 (18%) on Monday -- adding over $1.4 billion in market cap -- after presenting data at the American Society of Hematology meeting showing that chimeric antigen receptor (CAR) T cell therapy bb2121 led to an objective response rate (ORR) of 94% in the Phase I CRB-401 trial to treat relapsed or refractory multiple myeloma (see BioCentury Extra, Dec. 11)...