Here's Why Biotechs Fell On Monday

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  • Shares of several biotech companies were falling on Monday after bluebird bio Inc BLUE reported results from an ongoing clinical study.
  • Bluebird was down more 5 percent on Monday afternoon.

Several biotech stocks fell after bluebird bio reported results from an ongoing clinical study - HGB-205, which uses LentiGlobin® BB305 to treat beta-thalassemia major and severe sickle cell disease.

Professor Marina Cavazzana also provided an update on subject 1003. This subject/patient suffered from beta-thalassemia major, and was treated by Professor Cavazzana in 2007, using the first-generation HPV569 lentiviral vector.

According to a press release, “Following approximately seven years of transfusion independence, subject 1003 has recently required two blood transfusions after experiencing clinical symptoms of anemia. Importantly, both the expression of HbAT87Q and the vector copy number in peripheral blood leukocytes, a measure of the persistence of the gene therapy, have remained largely unchanged. The safety profile for both vectors is consistent with autologous transplantation, with no gene-therapy related serious adverse events.”

Other stocks that fell include:

  • Teva Pharmaceutical Industries Ltd (ADR) TEVA, down more than 1 percent
  • PTC Therapeutics, Inc. PTCT, down more than 16 percent
  • Radius Health Inc RDUS, down 8.5 percent
  • Juno Therapeutics Inc JUNO, down 1.8 percent
  • Agios Pharmaceuticals Inc AGIO, down almost 4 percent
  • Seattle Genetics, Inc. SGEN, down 1.8 percent

Disclosure: Javier Hasse holds no positions in any of the securities mentioned above.

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Posted In: BiotechHealth CareIntraday UpdateMoversGeneral
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