Cambridge, Massachusetts-based Bluebird Bio, a biotechnology company specializing in gene-based biologics and therapies, has announced a cost-cutting initiative following a review of its strategic priorities. The company is also considering other options to raise cash, including equity financings and selling any priority review vouchers it hopes to get with upcoming FDA approvals.
The restructuring will impact 30% of the Bluebird Bio workforce, approximately 360 employees.
According to company CEO Andrew Obenshain, "Today, we are taking decisive action to extend our cash runway and put bluebird in a stronger position to execute on our strategic priorities and ultimately bring potentially curative gene therapies to patients and their families. The decision to reduce our workforce in support of a more focused set of priorities was not taken lightly, and we are grateful to every bluebird who has helped to progress the field of gene therapy and championed our mission."
Change is coming. There will always be a tomorrow, no matter how much you may try to ignore it. There are no guarantees in life or promises for a bright future. Just because something bad hasn't happened yet, doesn't mean it won't. It can happen to anyone, anytime, anywhere. No one is guaranteed to wake up tomorrow and still have a job by evening. Are you now wondering, Am I Next?