BLUE held up in face of $34 offering
Good sign when doesn't tank. 34.74 +0.40
Was in a daily rounding top going into this offering.
bluebird bio Announces Pricing of Public Offering of Common Stock
6:58p ET July 8, 2014 (Business Wire) Print
bluebird bio, Inc. (Nasdaq: BLUE), a clinical-stage company committed to developing potentially transformative gene therapies for severe genetic and orphan diseases, today announced the pricing of an underwritten public offering of 3,000,000 shares of its common stock at a public offering price of $34.00 per share, before underwriting discounts. In addition, bluebird bio has granted the underwriters a 30-day option to purchase from it up to an additional 450,000 shares of common stock.
BofA Merrill Lynch, Cowen and Company and Citigroup are acting as joint book-running managers of the proposed offering. Wedbush PacGrow Life Sciences and SunTrust Robinson Humphrey are acting as co-managers. The offering is expected to close on or about July 14, 2014, subject to customary closing conditions.
bluebird bio anticipates the aggregate net proceeds from the offering will be approximately $95.6 million, after deducting the underwriting discount and estimated offering expenses payable by bluebird bio, but excluding any exercise of the underwriters' option. bluebird bio intends to use the net proceeds of this offering primarily to advance its clinical studies in CCALD (childhood cerebral adrenoleukodystrophy), beta-thalassemia major and sickle cell disease. The balance will be used for general and administrative expenses, potential future development programs, early-stage research and development and other general corporate purposes.
The shares are being offered by bluebird bio pursuant to an automatically effective shelf registration statement that was previously filed with the Securities and Exchange Commission (SEC). A preliminary prospectus supplement relating to and describing the terms of the offering was filed with the SEC on July 7, 2014. The final prospectus supplement relating to the offering will be filed with the SEC and will be available on the SEC's web site at www.sec.gov. When available, copies of the final prospectus supplement and the accompanying prospectus relating to these securities may also be obtained by contacting one of the following: BofA Merrill Lynch, 222 Broadway, New York, NY 10038, Attn: Prospectus Department, or via email, at dg.prospectus_requests@baml.com; Cowen and Company, LLC, c/o Broadridge Financial Services, 1155 Long Island Avenue, Edgewood, NY, 11717, Attn: Prospectus Department; or Citigroup, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, Tel: 800-831-9146, Email: prospectus@citi.com.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of, these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of such state or jurisdiction.
About bluebird bio, Inc.
bluebird bio is a clinical-stage company committed to developing potentially transformative gene therapies for severe genetic and orphan diseases. bluebird bio has two clinical-stage programs in development. The most advanced product candidate, Lenti-D, is in a recently-initiated phase 2/3 study, the Starbeam Study, for the treatment of childhood cerebral adrenoleukodystrophy (CCALD), a rare, hereditary neurological disorder affecting young boys. The next most advanced product candidate, LentiGlobin, is currently in two phase 1/2 studies, one in the US (the Northstar Study) and one in France (HGB-205), for the treatment of beta-thalassemia major. The phase 1/2 HGB-205 study also allows enrollment of patient(s) with sickle cell disease, and bluebird bio is planning a separate U.S. sickle cell disease trial (HGB-206).
bluebird bio also has an early-stage chimeric antigen receptor-modified T cell (CAR-T) program for oncology in collaboration with Celgene Corporation.
bluebird bio has operations in Cambridge, Massachusetts, Seattle, Washington and Paris, France.
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