bluebird bio gets $102 million cash boost through sale of PRV
Massachusetts, USA-based gene therapy company bluebird bio (Nasdaq: BLUE) yesterday revealed that it has entered into a definitive agreement to sell a Rare Pediatric Disease Priority Review Voucher (PRV) for $102 million to Netherlands-based argenx (Euronext: ARGX), providing the company with a much-needed cash injection.
bluebird’s shares edged up 2.3% to $7.97 in after-hours trading, while argenx' US traded shares closed up 5.4% at $397.97.
argenx expects to redeem the PRV for a future marketing application for efgartigimod, its first-in-class neonatal Fc receptor (FcRn) blocker. Efgartigimod gained US regulatory approval in 2021 under the trade name Vyvgart for the treatment of generalized myasthenia gravis that can cause weakness throughout the body.
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