With its shares down by around 84% in the past year, it's a wonder that investors are still interested in Bluebird Bio (NASDAQ: BLUE) at all. It withdrew its beta thalassemia drug, Zynteglo, from the E.U. market over persistent pricing conflicts with regulators there in August 2021. And with minimal sales revenue after a mere two years on the market, its annual revenue has collapsed from upward of $250 million in 2020 to just over $3.6 million last year.
Now, the company hopes to get two drugs approved for sale in the U.S. before the end of 2022, but it faces a nasty cash crunch that could spell doom if it fails. Is this stock ripe for a turnaround or is it a trap for speculators? In my view, it's worth staying away from this company, and here's why.
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Source Fool.com