bluebird bio, Inc. (BLUE) saw its loss widen to $71.36 million, or $1.88 a share for the quarter ended Dec. 31, 2016. In the previous year period, the company reported a loss of $47.28 million, or $1.29 a share.
Revenue during the quarter grew 5.51 percent to $1.55 million from $1.47 million in the previous year period.
Operating loss for the quarter was $72.34 million, compared with an operating loss of $48.96 million in the previous year period.
"We ended 2016 with momentum to drive progress in 2017 and cash to fund the business well into 2019," said Nick Leschly, chief bluebird. "2017 is a critical year for bluebird, with data readouts across all four of our clinical programs, including proof-of-concept data on manufacturing improvements for LentiGlobin; proof-of-concept data for the changes to the HGB-206 study protocol; additional data from our anti-BCMA CAR T program, bb2121; and full data from the first 17 patients in the Starbeam study of Lenti-D. Execution will also be a key theme for 2017, with a focus on laying the groundwork for future MAA and BLA filings and engagement with payors."
Working capital increases sharply
bluebird bio, Inc. has recorded an increase in the working capital over the last year. It stood at $649.68 million as at Dec. 31, 2016, up 34.34 percent or $166.08 million from $483.60 million on Dec. 31, 2015. Current ratio was at 9.72 as on Dec. 31, 2016, down from 12.98 on Dec. 31, 2015.
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