Bluebird Bio Stock Breaks Out to New Highs

Bluebird Bio, Inc. (BLUE bluebird bio Inc BLUE 131.95 +5.69%) shares have soared nearly 30% over the past two sessions following Gilead Sciences, Inc.’s (GILD

Gilead Sciences Inc GILD 83.18 -0.63%) acquisition of Kite Pharma, Inc. (KITE
Kite Pharma Inc KITE 178.02 +0.02% ). Both Kite Pharma and Bluebird Bio are developing CAR-T – or Chimeric Antigen Receptor Technology – cell therapies that redirect a patient’s T cell specificity to target certain antigens. Gilead’s buyout of Kite Pharma has underscored the growing interest in the technology.

Bluebird Bio’s bb2121 could become the CAR-T play of choice following Gilead’s acquisition of Kite Pharma. In addition to impressive early data, the clinical program has shown no dose-limiting toxicities and a 100% (n=18) objective response rate in relapsed/refractory multiple myeloma patients. Celgene Corporation (CELG Celgene Corp CELG 139.83 +0.65% ) – Bluebird’s clinical trial partner – believes that an approval could come as early as 2020, with peak sales falling into the blockbuster category. (See also: Bluebird’s Blood Disorder Drug Did Well in Trial.)
Bluebird Bio’s technical breakout following Gilead’s acquisition of Kite Pharma could point to more upside ahead. …read more

Read more here: Bluebird Bio Stock Breaks Out to New Highs

Category: BLUE, GILD, KITE, CELG

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