Lawsuit filed in Investors in shares of bluebird bio Inc (NASDAQ: BLUE)

An investor, who purchased shares of bluebird bio Inc (NASDAQ: BLUE), filed a lawsuit over alleged violations of Federal Securities Laws by bluebird bio Inc.

Investors who purchased shares of bluebird bio Inc (NASDAQ: BLUE) have certain options and for certain investors are short and strict deadlines running. Deadline: April 13, 2021. NASDAQ: BLUE investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

bluebird is a biotechnology company that engages in researching, developing, and commercializing transformative gene therapies for severe genetic diseases and cancer. The Company's gene therapy programs include, among others, LentiGlobin (bb1111) for the treatment of sickle cell disease ("SCD").

In May 2020, in the midst of the COVID-19 pandemic, bluebird announced that the Company expected to submit a U.S. Biologics Licensing Application ("BLA") to the U.S. Food and Drug Administration ("FDA") for LentiGlobin for SCD in the second half of 2021.
On November 4, 2020, post-market, bluebird disclosed that it would no longer apply for FDA approval of its LentiGlobin product as a treatment for SCD in the second half of 2021 as expected. Instead, citing "feedback" from the FDA requiring the Company to provide additional data "to demonstrate drug product comparability" for LentiGlobin for SCD, "alongside COVID-19 related shifts and contract manufacturing organization COVID-19 impacts," bluebird adjusted its submission timing to late 2022.

Shares of bluebird bio Inc (NASDAQ: BLUE) declined from $59.32 per share on November 4, 2020, to $42.19 per share on November 24, 2020.

The plaintiff claims that between May 11, 2020 and November 4, 2020, the Defendants made false and/or misleading statements and/or failed to disclose that data supporting bluebird's BLA submission for LentiGlobin for SCD was insufficient to demonstrate drug product comparability, that Defendants downplayed the foreseeable impact of disruptions related to the COVID-19 pandemic on the Company's BLA submission schedule for LentiGlobin for SCD, particularly with respect to manufacturing, that as a result of all the foregoing, it was foreseeable that the Company would not submit the BLA for LentiGlobin for SCD in the second half of 2021, and that as a result, the Company's public statements were materially false and misleading at all relevant times.

Those who purchased shares of bluebird bio Inc (NASDAQ: BLUE) have certain options and should contact the Shareholders Foundation.

Media Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com

About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.

This release was published on openPR.