Why Bluebird Bio Stock Is Crashing Today

·2-min read
Why Bluebird Bio Stock Is Crashing Today

Shares of Bluebird Bio (NASDAQ: BLUE) were crashing 23.3% lower as of 12:18 p.m. EDT on Monday. Bluebird said that the U.S. Food and Drug Administration (FDA) has placed a phase 3 study featuring eli-cel (also known as Lenti-D) on clinical hold. The company also stated that it plans to focus only on the U.S. market with its severe genetic disease products and pull out of the European market.