Bluebird Bio to reduce workforce by 25% in restructuring

Following a review of its operations, Bluebird Bio announced that the company is implementing a restructuring intended to optimize the company’s cost structure and enable quarterly cash flow break-even in the second half of 2025. The restructuring is expected to result in a 20% reduction in cash operating expenses when fully realized in Q3 2025, compared to the prior reporting period. The initiative includes a reduction in the company’s workforce of approximately 25%. The company’s cash flow break-even target assumes scaling to approximately 40 drug product deliveries per quarter, realizing the 20% reduction in cash operating expenses, and obtaining additional cash resources to extend the Company’s cash runway. As part of the restructuring, bluebird plans to further sharpen its focus on the ongoing commercial launches of Lyfgenia, Zynteglo and Skysona to enable continued launch acceleration while the company evaluates opportunities to increase its cash resources. Year-to-date, there have been 41 patient starts across bluebird’s portfolio, up from 27 reported in mid-August. bluebird anticipates approximately 40 patient starts in Q4 2024.