Here's Why bluebird bio Fell 21.3% in August
Shares of bluebird bio (NASDAQ: BLUE) sank more than 21% last month, according to data provided by S&P Global Market Intelligence. The biopharma announced second-quarter 2019 operating results, and although there wasn't much for the clinical-stage company to report, investors are beginning to worry about the financial health of the business.
In the second quarter and first half of 2019, bluebird bio delivered operating losses of $202 million and $374 million, respectively. While the business exited June with $1.25 billion in cash and is preparing to launch its beta thalassemia drug Zynteglo in the European Union in 2020, analysts are beginning to doubt that will be enough to fix the company's financial trajectory in the near term.
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Source Fool.com