Here's Why Everyone's So Excited About bluebird bio

Here's Why Everyone's So Excited About bluebird bio

Investors have seen bluebird bio's (NASDAQ: BLUE) share price skyrocket following impressive early-stage trial results for bb2121, a multiple myeloma gene therapy that's licensed to Celgene Corp. (NASDAQ: CELG). The excitement stems from a potential to leverage Celgene's dominant market position in multiple myeloma to turn bb2121 into a multibillion-dollar moneymaker. Here's how bluebird bio will benefit if that happens.

Celgene's been working with bluebird bio under a research collaboration since 2011, but it reworked its collaboration agreement in 2015 so that it includes bluebird bio's research on gene therapies that target BCMA, a protein commonly expressed on the surface of multiple myeloma cells.

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Source: Fool.com