BioCentury
ARTICLE | Deals

bluebird hopes tough choices today will keep core programs on track

May 12, 2020 2:04 AM UTC

To ensure it can meet its goal of launching four programs by 2022 amid the coronavirus crisis, bluebird has retooled its BCMA CAR T deal with Bristol Myers, opting for $200 million of cash now instead of future milestones and royalties. The biotech has also cut back on its R&D spending to provide hundreds of millions in runway, a move that includes pausing indefinitely a trial in high risk sickle cell disease patients.

Nick Leschly, the CEO of bluebird bio Inc. (NASDAQ:BLUE), will decline his salary for the next year, with other members of the senior management team forgoing 20% of their salaries. Leschly earned a base salary of $660,000 last year, according to an SEC filing...