bluebird bio Stock Soars on Unprecedented Blood Cancer Study Results

Shares of the clinical-stage biotech bluebird bio (NASDAQ: BLUE) rose by as much as 23.9% in pre-market trading today. The catalyst? The company reported that its CAR-T candidate, bb2121, produced "unprecedented responses" in patients with advanced forms of the deadly blood cancer known as multiple myeloma in a small, early-stage dose-escalation study.

Bluebird is co-developing bb2121 with Celgene Corp. (NASDAQ: CELG) as part of their broader gene therapy in oncology partnership. As a result, Celgene's shares are also up by 3.7% in pre-market in response to the duo's presentation at the American Society of Hematology Annual Meeting over the weekend, where these data were originally unveiled.

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Source: Fool.com