- 11 presentations across severe genetic diseases, immunotherapy and
gene editing programs to be presented at the
- Early data from patients treated under the amended study protocol in HGB-206 Phase 1 study in patients with severe sickle cell disease (SCD) suggest improved LentiGlobin drug product engraftment -
- Safety data observed in clinical study supports implementation of plerixafor mobilization in HGB-206 study protocol –
- Regenerative Medicine Advanced Therapy Designation granted by U.S.
- Orphan drug designation granted for anti-BCMA CAR T therapy bb21217 –
- Ended quarter with
- Company to hold conference call to discuss ASH abstracts and quarterly updates today,
“2017 has been a year focused on execution. In January, we outlined a
set of goals intended to bring us closer to our 2022 vision of becoming
the gene therapy products company,” said
- ASH PRESENTATIONS – Today, bluebird bio announced that the company will present clinical and pre-clinical data in 11 abstracts spanning the company’s research and development portfolio. Included among the presentations will be updated clinical data for the company’s clinical studies of LentiGlobin: Northstar (HGB-204) in patients with transfusion-dependent β-thalassemia (TDT), HGB-205 in patients with TDT or severe sickle cell disease (SCD), Northstar-2 (HGB-207) in patients with TDT and non-β0/β0 genotypes, and HGB-206 in patients with SCD. Updated data from the CRB-401 study of bb2121 anti-BCMA CAR T in patients with relapsed/refractory multiple myeloma will also be presented. The company will also present several preclinical and research posters.
- HGB-206 UPDATED CLINICAL DATA – In the ASH abstracts announced today, early results from 2 patients treated in the HGB-206 study using a modified protocol with LentiGlobin drug product (DP) manufactured under a refined manufacturing process demonstrate both higher DP vector copy number (VCN) and higher peripheral VCN after transplant. The toxicity profile observed was consistent with myeloablative conditioning with single-agent busulfan.
- HGB-206 PLERIXAFOR SAFETY DATA – Safety data exploring the use of plerixafor mobilization in 3 patients showed an acceptable safety profile and a larger cell dose yield is highlighted in an ASH abstract. HGB-206 continues to enroll, and patients will be treated under the amended study protocol with DP made from cells obtained through apheresis following plerixafor mobilization.
- NORTHSTAR (HGB-204) UPDATED CLINICAL DATA – ASH abstracts include updated results from the Phase 1/2 Northstar (HGB-204) study in patients with TDT using the original manufacturing process. The updated efficacy outcomes suggested that treatment with LentiGlobin drug product can potentially have a durable effect on eliminating or substantially reducing blood transfusions. Data also indicated that less favorable outcomes were seen in patients who had a low vector copy number (VCN). The safety profile continues to be consistent with autologous transplantation. No drug-product related adverse events (AEs) have been observed, and there is no evidence of clonal dominance.
- RMAT FOR LENTIGLOBIN IN SCD – In October, the
U.S. Food and Drug Administration( FDA) granted Regenerative Medicine Advanced Therapy Designation for LentiGlobin for the treatment of patients with severe SCD. Under this designation, the FDAwill work closely with bluebird bio to provide guidance on the future development of LentiGlobin, including providing advice on generating the evidence needed to support potential approval of the product candidate.
- INTERIM LENTI-D DATA IN NEJM – In October, bluebird bio
announced the publication in the
New England Journal of Medicineof interim clinical data on the initial 17 patients treated in the Starbeam study of Lenti-D drug product in cerebral adrenoleukodystrophy (CALD). These data were also presented at the Child Neurology Society(CNS) Annual Meeting. As of August 25, 2017, 15/17 patients (88%) in the initial study cohort remained free of major functional disabilities (MFDs) at 24 months, the primary endpoint of the trial. The safety profile of Lenti-D was consistent with myeloablative conditioning. No patients treated with Lenti-D had graft versus host disease (GvHD), and there was no graft rejection or clonal dominance. An expansion cohort of the Starbeam study is enrolling additional patients to enable the manufacture of Lenti-D in Europeand subsequent treatment of subjects in Europe. Findings from this study will, and to add to the overall clinical data package for potential future regulatory filings in the United Statesand Europe.
- FIRST PATIENT TREATED IN BB21217 STUDY - In September, bluebird
bio announced that the first patient was treated in CRB-402, the
company’s Phase 1 study of bb21217 in patients with
relapsed/refractory multiple myeloma. bb21217 is an anti-BCMA CAR T
product candidate manufactured in the presence of a PI3 kinase
inhibitor, designed to enrich for a more potent, longer-living T cell
subtype that in preclinical in vivo studies showed improved
anti-tumor activity. Subsequent to study initiation, in September
Celgeneexercised its option to exclusively license bb21217, resulting in a $15 millionoption exercise payment from Celgene. Also in September, the U.S. Food and Drug Administration( FDA) granted orphan drug designation for bb21217.
- CRB-401 ADVANCES TO EXPANSION COHORT – In September, bluebird bio announced that the first patient was treated in the expansion cohort of CRB-401, the company’s Phase 1 study of bb2121 anti-BCMA CAR T therapy in patients with relapsed/refractory multiple myeloma. Patients in the expansion cohort will be treated at a dose range of 150 to 450 x 106 CAR+ T cells and will be required to have prior exposure to a proteasome inhibitor, an immunomodulatory agent and daratumumab.
- NEW BOARD APPOINTMENT – In September,
Mary Lynne Hedley, Ph.D., was appointed to the Board of Directors. bluebird bio also announced that with Dr. Hedley’s appointment, John Maraganore, Ph.D., transitioned off the Board of Directors.
Third Quarter 2017 Financial Results
- Cash Position: Cash, cash equivalents and marketable securities
September 30, 2017were $1.1 billion, compared to $884.8 millionas of December 31, 2016, an increase of $257.8 million.
- Revenues: Total revenue was
$7.7 millionfor the third quarter of 2017 compared to $1.6 millionfor third quarter of 2016. The increase is attributable to the commencement of revenue recognition for the bb2121 license and manufacturing services under the company’s agreement with Celgeneand revenue recognized under bluebird bio’s out-licensing agreement with Novartis Pharma AG( Novartis). In August, Novartisreceived FDAapproval of KYMRIAH™ and as a result, the company expects to recognize royalty revenue beginning in the fourth quarter of 2017.
- R&D Expenses: Research and development expenses were
$61.5 millionfor the third quarter of 2017, compared to $64.0 millionfor the third quarter of 2016. The decrease in research and development expenses was attributable to decreased platform related expenses as a result of a one-time $15.0 millionupfront license payment expensed in the third quarter of 2016, partially offset by increased employee-related costs due to increased headcount to support overall growth, increased clinical trial costs, and increased facility related costs.
- G&A Expenses: General and administrative expenses were
$23.0 millionfor the third quarter of 2017, compared to $14.6 millionfor the third quarter of 2016. The increase in general and administrative expenses was attributable to increased employee-related costs due to increased headcount to support overall growth, increased commercial-related costs attributable to market research costs, increased facility-related expenses, and increased professional and consulting fees.
- Cost of License Revenue: Cost of license revenue was
$1.1 millionfor the third quarter of 2017. Cost of license revenue is composed of amounts payable to third party licensors in connection with amounts received under our out-license arrangement with Novartis.
- Net Loss: Net loss was
$78.8 millionfor the third quarter of 2017 compared to $77.0 millionfor the third quarter of 2016.
bluebird bio will host a live webcast at
About bluebird bio, Inc.
With its lentiviral-based gene therapies, T cell immunotherapy expertise and gene editing capabilities, bluebird bio has built an integrated product platform with broad potential application to severe genetic diseases and cancer. bluebird bio’s gene therapy clinical programs include its Lenti-D™ product candidate, currently in a Phase 2/3 study, called the Starbeam Study, for the treatment of cerebral adrenoleukodystrophy, and its LentiGlobin® BB305 product candidate, currently in three clinical studies for the treatment of transfusion-dependent β-thalassemia, also known as β-thalassemia major, and severe sickle cell disease. bluebird bio’s oncology pipeline is built upon the company’s leadership in lentiviral gene delivery and T cell engineering, with a focus on developing novel T cell-based immunotherapies, including chimeric antigen receptor (CAR T) and T cell receptor (TCR) therapies. bluebird bio’s lead oncology programs, bb2121 and bb21217, are anti-BCMA CAR T programs partnered with
bluebird bio has operations in
LentiGlobin and Lenti-D are trademarks of bluebird bio, Inc. All other trademarks are the property of their respective owners.
This release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding the Company’s financial condition and results of operations, as well as the advancement of, and anticipated development and regulatory milestones and plans related to the Company’s product candidates and clinical studies. Any forward-looking statements are based on management’s current expectations of future events and are subject to a number of risks and uncertainties that could cause actual results to differ materially and adversely from those set forth in or implied by such forward-looking statements. These risks and uncertainties include, but are not limited to, risks that the preliminary results from our clinical trials will not continue or be repeated in our ongoing clinical studies, the risk of cessation or delay of any of the ongoing or planned clinical studies and/or our development of our product candidates, the risk of a delay in the enrollment of patients in our clinical studies, the risks that the changes we have made in the LentiGlobin drug product manufacturing process or the HGB-206 clinical study protocol will not result in improved patient outcomes, risks that the current or planned clinical studies of the LentiGlobin drug product will be insufficient to support regulatory submissions or marketing approval in the
bluebird bio, Inc.
Condensed Consolidated Statements of Operations Data
(in thousands, except per share data)
|Three Months Ended
|Nine Months Ended
|Research and development||61,545||63,971||180,464||147,642|
|General and administrative||22,982||14,623||64,463||48,941|
|Cost of license revenue||1,100||—||1,520||—|
|Change in fair value of contingent consideration||(258)||1,098||205||3,515|
|Total operating expenses||85,369||79,692||246,652||200,098|
|Loss from operations||(77,658)||(78,140)||(215,393)||(195,495)|
|Interest (expense) income, net||(1,155)||937||(1,842)||2,871|
|Other (expense) income, net||8||—||(1,180)||(68)|
|Loss before income taxes||(78,805)||(77,203)||(218,415)||(192,692)|
|Income tax benefit||—||178||—||549|
|Net loss per share - basic and diluted:||$||(1.73)||$||(2.07)||$||(5.14)||$||(5.19)|
Weighted-average number of common shares used
in computing net loss per share - basic and diluted:
bluebird bio, Inc.
Condensed Consolidated Balance Sheets Data
|Cash, cash equivalents and marketable securities||$||1,142,630||$||884,830|
|Total stockholders' equity||1,141,318||869,440|
Source: bluebird bio, Inc.
Investors and Media:
bluebird bio, Inc.
Elizabeth Pingpank, 617-914-8736