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Fly News Breaks for April 19, 2017
BLUE
Apr 19, 2017 | 07:33 EDT
SunTrust analyst Edward Nash says that a short report on bluebird bio by Pluvias Securities relies on old news and doesn't break any new ground. According to Nash, the report claims that bluebird's B0/0 patients remain dependent on blood transfusions, but it's already known that such patients are difficult to treat, while non-bo/bo patients represent 66% of the total beta-thalassemia patient population. On SCD, the short report claims that bluebird didn't disclose that its treatment failed to help seven patients, but bluebird did disclose that information as early as 2015, and it is looking to improve its SCD treatment, Nash reports. Pluvias says that the results of the Phase II/III Starbeam Study may not support approval of bluebird's CALD treatment, and it contends that the company did not divulge adverse effects from the trial. But bluebird has not said that it would rely only on this trial, and it did announce the adverse effects, Nash stated. Finally, Pluvias says that the average relapse of patients receiving bluebird's CAR-T treatment was only eight weeks, but it "was comparing two different studies, and efficacy from the NIH study may not be the same as bluebird's study," Nash wrote. He keeps a Buy rating on bluebird.
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