bluebird bio this morning announced that the HGB-207 pivotal study evaluating LentiGlobin for treatment of beta-thalassemia has opened, and importantly stated that it will be incorporating the process improvements under the existing Investigational New Drug application, Piper Jaffray analyst Joshua Schimmer tells investors in a research note. The modifications will "meaningfully improve the success rate" of the product and essentially "cure" most beta-thal and sickle patients, the analyst contends. He points out that there was investor uncertainty as to whether the process improvements would require a new IND. The changes put LentiGlobin back on track to meet investors' initial high expectations, Schimmer writes. He reiterates an Overweight rating on bluebird with a $95 price target. The stock is up 5% to $55.65 in pre-market trading.