Bluebird shares skyrocket on promising gene therapy-blood disorder data
- Beta-thalassemia is one of the most common blood disorders. It is characterized by a reduction in hemoglobin and requires that patients take infusions.
- Data presented at the American Society of Hematology demonstrated a 100% cure rate of patients with beta-thalessemia who were transplanted with bluebird's LentiGlobin product.
- Thanks to this gene insertion therapy, patients gained sufficient hemoglobin production to reduce or eliminate the need for transfusions altogether. Bluebird stock has risen more than 6% since the data was announced.
Investment analysts continue to increase the target projection for the bluebird stock. Piper Jaffrey has increased its projection from $52 to $112, while Welbush Securities increased projections from $15 to $94. Other companies have also followed suit in increasing their valuation of the company.
The potential therapeutic value of bluebird's gene therapy product goes beyond the treatment of thalessemia-B; in fact, the platform could have utility in treating sickle cell anemia. Assuming that is the case, the potential market for LentiGlobin in the U.S. could be as high as $100 billion.