Markets fear the worst as FDA takes time getting back to bluebird

A short delay to bluebird bio’s (Nasdaq: BLUE) US regulatory submission for lovo-cel (lovotibeglogene autotemcel) appears to have spooked investors, with shares in the company falling by a quarter.

Despite a  rocky road in recent quarters - including a painful restructuring and workforce reduction - bluebird is flying ahead with the launch of two gene therapies for rare diseases in the USA.

Both of these  gained regulatory approval late last year, but the progress of sickle cell disease therapy lovo-cel is seen by analysts as more important to the firm’s financial future.