Feb. 19 Financial Quick Takes: bluebird's delayed BLA timeline, plus fundings for NeoTx, Scipher and EnClear
Shares of bluebird bio Inc. (NASDAQ:BLUE) dipped $7.77 to $80.45 Wednesday, lopping off about $430 million of the company's market cap, after the company extended the BLA timeline for LentiGlobin to treat β-thalassemia. The company now expects to complete its rolling BLA submission in 2H20 rather than this half for the gene therapy, which bluebird markets in Europe as Zynteglo. bluebird said it is discussing with FDA "information regarding various release assays" for the therapy. At least three analysts lowered their price targets on the news. bluebird also filed a shelf registration for a stock offering; the company had $1.2 billion in cash at Dec. 31, 2019.
Israel-based NeoTX Therapeutics Ltd. announced its $45 million series C round, but did not name its investors. The company is conducting a Phase Ib trial of naptumomab estafenatox in combination with Imfinzi durvalumab to treat solid tumors. Naptumomab estafenatox includes an antibody targeting oncofetal antigen 5T4 combined with a mutated staphylococcal enterotoxin A (SEA). NeoTX said it has raised more than $60 million to date...