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Bluebird CFO Leaves The Nest As Company Reveals Grim Cash Position

Pressure On For Approvals To Shore Up Financing

 
• By Mandy Jackson

Its Q4 earnings report was not the first time that bluebird mentioned selling priority review vouchers it has not received yet, but the PRV revenue is needed to fund operations beyond 2022.

Mountain Bluebird, Sialia currucoides
CFO Gina Consylman resigned, effective 3 April • Source: Alamy

Bluebird bio described its ability to fund operations beyond 2022 with its existing cash as “a going concern” in its fourth quarter 2021 earnings report, and its plan for funding operations into 2023 is risky because it depends on US Food and Drug Administration approval of two gene therapy programs whose action dates already were delayed to later this year.

The company said on 4 March in its Q4 and full year 2021 financial update – issued without the usual accompanying call – that its year-end cash balance was $442m, including $46m in restricted cash

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