Bluebird Bio ( (BLUE) ) has provided an update.
bluebird bio, Inc. has announced a restructuring plan aimed at reducing its cash operating expenses by around 20% by Q3 2025, following a thorough review of operations. This plan involves a workforce reduction of 25% and anticipates incurring charges related to severance and other termination costs. The move is part of a strategy to achieve quarterly cash flow break-even in the second half of 2025, with the company focusing on the commercial launches of its FDA-approved therapies. While the restructuring brings financial optimism, it’s based on assumptions subject to risks and uncertainties that could affect the company’s future results.
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