bluebird bio (BLUE) Looks to Have Cured First Sickle Cell Patient, Maxim Group Notes

Maxim Group analyst Jason McCarthy reiterated a Buy rating and $190 price target on bluebird bio (NASDAQ: BLUE) after the company reported new LentiGlobin data at the European Hematology Association Congress in Vienna this weekend.

Highlighted:

• The sickle cell disease (SCD) patient's (1204, HGB-205 trial) anti-sickling hemoglobin has risen to 45% at 6 months (31.6% at 4.5 months). Historically, >30% is needed to preclude serious adverse events in SCD patients. Is he cured? Two biomarkers suggest he might be.
• Patient 1204 has remained transfusion-free for 3 months and has not had any serious adverse events or hospitalizations (chronic transfusions and hospitalizations were required prior to LentiGlobin).
• Beta-thalassemia patients 1201 and 1202 (HGB-205 study) have remained transfusion-independent for 16 and 14 months, respectively. LentiGlobin is proving a durable gene therapy (so far).
• LentiGlobin U.S. trial in SCD, HGB-206: First patient has been infused.
• Conclusion: Gene therapy has arrived with LentiGlobin. These are orphan indications; thus, proof of concept can come with just a few patients. For beta-thalassemia and SCD, it is simple: Is the patient making the good hemoglobin? Is he transfusion-independent? Is he staying out of the hospital? Is this a durable treatment? We are seeing more and more evidence that the answers are all yes. bluebird may have the cure (not a treatment) for these genetic diseases. The question is: How far can they take this? How much is the cure for SCD worth? In our opinion, it could be quite a lot.

For an analyst ratings summary and ratings history on bluebird bio click here. For more ratings news on bluebird bio click here.

Shares of bluebird bio closed at $180.81 yesterday.

You May Also Be Interested In

• BLUEBIRD BIO, INC. (NASDAQ: BLUE) DEADLINE ALERT: Bernstein Liebhard LLP Reminds bluebird bio, Inc. Investors of Upcoming Deadline
• ImmunityBio (IBRX) Announces FDA Approval of ANKTIVA
• Texas Capital Bancshares (TCBI) PT Lowered to $74 at Keefe, Bruyette & Woods