Just a few weeks after the FDA approved bluebird bio’s gene therapy for the treatment of beta-thalassemia, Zynteglo, the company announced yesterday that its chief strategy and financial officer Jason Cole will be leaving to pursue other career opportunities.
Cole was appointed as CFO earlier this year during what bluebird calls a “critical juncture for the company.” According to the recent press release, Cole led changes to help stabilize the Company’s financial position and strengthen its balance sheet.
With the recent approval, bluebird’s financial future is looking promising. A few weeks ago, Zynteglo’s price tag was revealed, coming in at $2.8 million for the gene therapy. But bluebird is going all in, announcing that it would reimburse payers up to 80% if they still needed infusions within the first two years of treatment.
In the most recent financial reports, bluebird’s CEO Andrew Obenshain said that “the second quarter marked significant progress for bluebird bio and a precedent-setting moment for the field of gene therapy,” reporting that the company ended the quarter with $218M in restricted cash, cash, and cash equivalents and marketable securities.
For now, Katherin Breedis will take over Cole’s financial responsibilities and step in as CFO, and Obenshain will manage any outstanding strategy, external affairs and operations. Cole’s last day as CFO will be October 14, 2022.