24/7 Market News Snapshot 04 December, 2024 – bluebird bio, Inc. Common Stock (NASDAQ:BLUE)
DENVER, Colo., 04 December, 2024 (247marketnews.com) – (NASDAQ:BLUE) are discussed in this article.
bluebird bio, Inc. (NASDAQ:BLUE) has made notable strides in the market today, opening at $0.36 and experiencing a substantial rise of 22.45%, reaching $0.439 by mid-session. This impressive surge follows yesterday’s close of $0.358, signaling an increase in investor optimism and activity, as evidenced by a trading volume of 12.73 million shares. Analysts point to technical indicators that suggest a potential bullish continuation, as the stock breaks through key resistance levels.
Concurrently, bluebird bio has strengthened its commitment to patient access by entering into an outcomes-based agreement with the Center for Medicare and Medicaid Innovation for its gene therapy, LYFGENIA. This innovative initiative is expected to enhance access for Medicaid beneficiaries, targeting those aged 12 and older who have experienced vaso-occlusive events. Tom Klima, Chief Commercial & Operating Officer, highlighted the significance of timely and equitable access to gene therapy, stating the company’s excitement about partnering with state Medicaid agencies through the Cell and Gene Therapy Access Model.
This agreement reflects bluebird’s leadership in implementing transformative, outcomes-based arrangements, thereby facilitating broader coverage for LYFGENIA. Presently, more than half of U.S. states acknowledge LYFGENIA on their Preferred Drug Lists or through specific coverage policies, helping a considerable number of Medicaid-insured individuals.
The enrollment phase of the program will last six years, accompanied by a five-year follow-up period to monitor performance outcomes. Through this model, bluebird bio aims to alleviate barriers faced by states in implementing their own agreements. With its data-driven approach and focus on risk-sharing, bluebird bio is affirming its position at the forefront of innovative gene therapy solutions that significantly enhance patient care.
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