The recent approval of a new fifth-line drug by Bluebird bio, Inc. (BLUE) is a milestone in its development efforts in the fight against multiple myeloma. Its share price is hovering around $28.62, representing an increase of 18.07% compared with its 52-week low. Within intraday trading, shares of BLUE are trading at $30.07 and $28.49. A 52-week high and a low have been reached in the BLUE stock’s shares for the last 52 weeks, while the most recent trading session has witnessed an intraday change of -7.50%.
The FDA has approved the use of Abecma (CAR-T therapy), which was developed in partnership by bluebird in conjunction with Bristol-Myers Squibb Company (NYSE: BMY). BLUE stock dropped since the middle of last year because this occurred later than expected.
The FDA has now approved the medication as a fifth-line drug. In other words, it will only be used as a last resort. Thus, the commercial potential of Abecma is severely limited. The FDA approval contains remarks about possible severe adverse reactions, including cytokine release and toxicity to the nervous system. This means that doctors are likely only to prescribe Abecma as the last option.
Nevertheless, Abecma approval is welcome news. The drug is currently undergoing additional research to determine its use in treating multiple myeloma as a third-line treatment, and possibly earlier.
Primarily, it represents the adoption of CAR-T therapy with superb innovative potential, the bluebird CAR-T therapy. Current CAR-T treatments are accompanied by severe side effects, although this technology could treat many types of infectious diseases and oncologies. Multiple myeloma is the first disease for which CAR-T therapy is available on the market today. Besides, even a limited course of Abecma will still benefit Bluebird bio Inc. (BLUE)since the drug costs about $4020,000.