They are going after Apple because they are resistant to going along with the censorship/surveillance state.
OT: Stock and Investment Talk
- Thread starter RU-05
- Start date
They are going after Apple because they are resistant to going along with the censorship/surveillance state.
UNH was just brought up on halftime. A few of the panelists have owned it for some time but some have stops out of it if recent lows don't hold. Josh Brown was like see if the technicals turn and if it can hold the lows before getting in. Seems like they're not fully confident just like my slight negative skew.
Cyber attack, DOJ and expensive weight loss drugs are all issues that need to be dealt with. I think long term it's probably fine but short term it could potentially go through some pain which is why I didn't stick around long in it but we'll see if recent lows can hold or not.
FCX recommended on final trades on halftime today....commodities on a tear now he said.
+1
Like with most cases, the US gov will lose. The marketplace has plenty of competition. This is just politics.
I don't know how many people have noticed but Google Search has a new category "Interactions." The results will come from Reddit and other forums, review sites etc. I know that for years I would get good stuff by adding "reddit" to keywords. There's a lot of garbage on reddit but good stuff too
"Reddit is betting that data licensing could become a major source of revenue, and said in its filing that it’s entered “certain data licensing arrangements with an aggregate contract value of $203.0 million and terms ranging from two to three years.” This year, Reddit said it plans to recognize roughly $66.4 million in revenue as part of its data licensing deals.
Google has also entered into an expanded partnership with Reddit, allowing the search giant to obtain more access to Reddit data to train AI models and improve its products."
Nike beats holiday revenue estimates — but its China sales are slowing down
Nike is in the midst of a broad restructuring to cut costs by about $2 billion over the next three years as consumer demand remains uncertain.
Down6%Nike beats holiday revenue estimates — but its China sales are slowing down
Nike is in the midst of a broad restructuring to cut costs by about $2 billion over the next three years as consumer demand remains uncertain.www.cnbc.com
With cost of essentials still somewhat elevated I suppose is not surprising to find certain types of discretionary spending take a hit.
Just remember how they blocked the AT&T/WarnerMedia deal…took like two years to litigate…by the time it was over Netflix and other streaming services were light-years ahead.
Saw a headline Cathie Wood (not that I’ve ever given a hoot what she does but her name has come up here) bought a small amount, a few thousand shares, for a couple of her funds.
Interested to see how much of this enthusiasm lasts and how it does after the lockup period expires.
Also NKE down 8% at the open. A drop into the lower 80s could be interesting but also looks like 200WMA will be resistance. That would still give a nice return even if it attempts a failed retest in the future.
Last edited:
On the Tape? That’s enemy territory. I probably would have missed that one, thanks for the heads up.
Wood is an interesting name because she performed so well for a good stretch…..and has now underperformed for a good stretch. Was she just a byproduct of the market, did she just nail it with one stock, ie TSLA, or is there some real stock picking prowess there? I think it is more interesting if it is the latter and she starts hitting again but time will tell
I see it the same way, I talk about coaches. I don't care about short term performance. Consistency over a long period with faces changing (in this case market/economic conditions changing) is what shows actual ability vs a flash in the pan or dumb luck. I remember the comparisons of her to Buffet who has been doing it for decades in all kinds of market conditions including the crash where he took advantage of some banks. That's true ability and consistency over the long haul.
LOL! It came up on my YT feed. Dan was on the defensive and indirectly claiming he plays up his character on CNBC and isn’t really a permabear. HA! Worth the watch, just skip ahead when Dan goes on a rambling rant.
I’ve kind of felt he was just playing the permabear role, but it’s weird to play it across multiple platforms. I get CNBC wants multiple perspectives but his podcast persona is equally bearish. Lame if he’s faking. Lame if he is using faking as a cover.
My guess is he's using faking as a cover. He is permabear everywhere on anything he does. He also constantly talks about how 2000/dot.com crash scarred him.
She has been in the industry for several decades with different fund groups. I don’t believe she has performed well over time. This post is a few years old and was originally from the Boglehead site. It’s an interesting read.
She has been a disaster. In close to 6 years, the ARKK fund is up 4% (during the same time the S&P is up over 80%) and that includes her hitting big with TSLA (which is up a 1,000% during that time). Most of her picks over the last 1/2 decade have been big losers.
EU launches probe into Meta, Apple and Alphabet under sweeping new tech law
The EU's probes into Apple, Alphabet and Meta are under the Digital Markets Act and focuses on the practices carried out by these tech giants on their services.
Apple’s green message bubbles draw wrath of US attorney general
RCS and green bubbles in iPhone-to-Android texts play role in Apple/DOJ battle
Apple’s green message bubbles draw wrath of US attorney general
RCS and green bubbles in iPhone-to-Android texts play role in Apple/DOJ battle.
arstechnica.com
Dept of Injustice doesn't like Apple's texts being more secure than Android
And Apple is no privacy hero either (they've been aiming to break client side encryption)
Airline industry an escalating disaster - bad time to fly imo.
nypost.com
www.mediaite.com
Airline CEOs request meeting with Boeing in wake of 737 MAX blowout: report
Major US airline CEOS have reportedly requested a meeting with Boeing’s board to express concerns over production problems following near-disastrous fuselage blowout.
nypost.com
‘A Complete Decapitation’: Three Top-Level Executives at Boeing Resign Amid Safety Concerns Following Alaska Airlines Blowout
CNN anchor John Berman called the triple resignation at Boeing "a complete decapitation" at the top executive level following a raft of security concerns.
www.mediaite.com
Last edited:
Ocugen now at 1.97 (hit a high of 2.08 earlier today). Tomorrow at 4pm it will meet NASDAQ compliance for 10 consecutive days above 1.00.
Back in NJ! For those still following BLUE:
SOMERVILLE, Mass.--(BUSINESS WIRE)--Mar. 26, 2024-- bluebird bio, Inc. (NASDAQ: BLUE) (“bluebird bio” or the “Company”) today reported fourth quarter and annual financial results and business highlights for the year ended December 31, 2023, including recent commercial and operational progress.
“In 2023, bluebird established a validated, commercial gene therapy strategy that brought ZYNTEGLO and SKYSONA to individuals living with beta-thalassemia and cerebral adrenoleukodystrophy. Building on that foundation, today we are positioned for robust commercial uptake of LYFGENIA for sickle cell disease, with a substantial QTC network in place, favorable Medicaid coverage being established, and demonstrated strong patient demand,” said Andrew Obenshain, chief executive officer, bluebird bio. “Our recent agreement with Hercules Capital meaningfully extends our cash runway, and further enables us to capitalize on our commercial head start and bring our transformative gene therapies to patients and their families. In 2024, we anticipate between 85 to 105 patient starts across our three FDA approved therapies, laying the foundation for strong revenue growth.”
RECENT COMPANY HIGHLIGHTS
Up to $175 million Debt Financing with Hercules Capital
On March 18, 2024, bluebird announced that it had entered into a five-year term loan facility with Hercules Capital. Under the terms of the agreement, the Company may draw up to $175 million, available in four tranches. The first tranche of $75 million was drawn at closing. The Company may draw upon two additional tranches of $25 million each, subject to satisfaction of certain conditions, including achievement of commercial milestones. The facility also provides for a fourth tranche of $50 million, available at the lender’s discretion.
Based on launch estimates and current business plans, and assuming three tranches totaling $125 million are executed, the transaction is projected to extend the Company’s cash runway through Q1 2026.
COMMERCIAL LAUNCH UPDATES
Strong patient uptake across portfolio
First LYFGENIA patient start imminent; multiple patients enrolled and preparing for treatment across QTC network.
Continued strong, linear growth for ZYNTEGLO with 7 patient starts since the beginning of 2024, in addition to 20 patient starts completed for ZYNTEGLO in 2023.
Completed 2 patient starts for SKYSONA since the beginning of 2024, in addition to 6 patient starts completed for SKYSONA in 2023.
Validated access and reimbursement strategy is driving favorable coverage landscape
In the first quarter of 2024, bluebird signed its first Medicaid outcomes-based agreement for LYFGENIA with the state of Michigan.
In addition to the Medicaid outcomes-based agreement, bluebird has signed four outcomes-based agreements for LYFGENIA with national commercial payer organizations and published coverage policies cover more than 200 million U.S. lives.
Discussions are ongoing with more than 15 Medicaid agencies representing 80% of Medicaid-insured individuals with sickle cell disease in the U.S. and the Company is engaged with the Center for Medicare and Medicaid Innovation (CMMI) on its Cell and Gene Therapy Access Model demonstration.
Timely access to ZYNTEGLO and SKYSONA has continued, with zero ultimate denials for either therapy across both Medicaid and commercial payers.
Substantial QTC footprint established
bluebird has activated 62 QTCs for ZYNTEGLO (defined as a signed MSA); capitalizing on launch synergies, 49 centers are already receiving referrals for LYFGENIA.
Five centers are also activated to administer SKYSONA for patients with cerebral adrenoleukodystrophy (CALD).
The Company anticipates continued QTC network expansion across its portfolio in 2024.
LOVO-CEL CLINICAL TRIAL UPDATE
Enrollment is ongoing for the HGB-210 study evaluating lovo-cel for patients under the age of 12. The Company anticipates enrollment to be complete in Q4 2024.
2024 GUIDANCE
The Company anticipates 85 to 105 patient starts (cell collections) combined across all three of its FDA approved therapies (LYFGENIA, ZYNTEGLO, SKYSONA) in 2024. Consistent with previous quarters, bluebird plans to provide quarterly updates on patient starts for each of its therapies.
Gross-to-net discounts across all three products are expected to be in the range of 20% to 25% of gross revenue in 2024 and will fluctuate based on product and payer mix, and well as utilization of outcomes-based agreements for LYFGENIA and ZYNTEGLO.
Based on projected timelines from cell collection to infusion, the Company expects to recognize revenue from its first infusion of LYFGENIA in the third quarter of 2024.
FOURTH QUARTER AND ANNUAL FINANCIAL HIGHLIGHTS
Cash Position: The Company’s cash, cash equivalents and restricted cash balance was approximately $275 million, including restricted cash of approximately $53 million, as of December 31, 2023.
Based on launch trajectory and current business plans, bluebird expects its cash and cash equivalents excluding restricted cash and assuming three tranches totaling $125 million in proceeds from its term loan facility are executed, will be sufficient to meet bluebird’s planned operating expenses and capital expenditure requirements through Q1 2026.
In the fourth quarter of 2023, the Company entered into a factoring agreement which is accelerating cash collection related to patient starts across its portfolio of approved therapies.
Revenue, net: Total revenue, net was $7.8 million for the three months ended December 31, 2023, compared to $0.1 million for the three months ended December 31, 2022.
Total revenue, net was $29.5 million for the twelve months ended December 31, 2023, compared to $3.6 million for the twelve months ended December 31, 2022. The increase of $25.9 million was primarily due to SKYSONA and ZYNTEGLO product revenue.
For the year ended December 31, 2023, product revenues by therapy represent $16.7 million attributable to ZYNTEGLO and $12.4 million attributable to SKYSONA, with gross-to-net discounts of approximately 19% across both products.
On March 26, 2024, bluebird announced that it will restate its consolidated financial statements for 2022, and for the first three quarters of both 2022 and 2023 in its Annual Report on Form 10-K for the year ended December 31, 2023 (the “2023 Form 10-K"). The restatements relate to the identification of embedded leases and the treatment of non-lease components contained in lease agreements with contract manufacturers. As a result, the Company anticipates recording an increase in lease assets and lease liabilities, as well as an increase in non-cash interest expense in each restated period. The Company does not expect the restatement to result in any impact on its cash position or revenue. bluebird anticipates filing its 2023 Form 10-K, inclusive of the restatement no later than April 16, 2024.
The financial results included in this press release represent the most current information available to the Company’s management. The Company expects that its actual results to be reported in its 2023 Form 10-K will not differ materially from the results included herein, however, these results are subject to change following the completion of the Company’s financial close procedures and the audit of its consolidated financial statements for the year ended December 31, 2023.
bluebird bio Reports Fourth Quarter and 2023 Annual Results and Highlights Operational Progress and 2024 Guidance
- Cash runway through Q1 2026 following announcement of a $175 million term loan facility with Hercules Capital -
- 9 patient starts to date in 2024 (7 ZYNTEGLO, 2 SKYSONA); 85 to 105 patient starts anticipated across the portfolio in 2024 -
- First government outcomes-based agreement for sickle cell disease signed with Michigan Medicaid -
- 62 qualified treatment centers (QTCs) activated -
- Full year 2023 revenue of $29.5 million with $7.8 million generated in the fourth quarter -
- Management to host conference call today, March 26, 2024 at 8:00 am ET -
- Cash runway through Q1 2026 following announcement of a $175 million term loan facility with Hercules Capital -
- 9 patient starts to date in 2024 (7 ZYNTEGLO, 2 SKYSONA); 85 to 105 patient starts anticipated across the portfolio in 2024 -
- First government outcomes-based agreement for sickle cell disease signed with Michigan Medicaid -
- 62 qualified treatment centers (QTCs) activated -
- Full year 2023 revenue of $29.5 million with $7.8 million generated in the fourth quarter -
- Management to host conference call today, March 26, 2024 at 8:00 am ET -
SOMERVILLE, Mass.--(BUSINESS WIRE)--Mar. 26, 2024-- bluebird bio, Inc. (NASDAQ: BLUE) (“bluebird bio” or the “Company”) today reported fourth quarter and annual financial results and business highlights for the year ended December 31, 2023, including recent commercial and operational progress.
“In 2023, bluebird established a validated, commercial gene therapy strategy that brought ZYNTEGLO and SKYSONA to individuals living with beta-thalassemia and cerebral adrenoleukodystrophy. Building on that foundation, today we are positioned for robust commercial uptake of LYFGENIA for sickle cell disease, with a substantial QTC network in place, favorable Medicaid coverage being established, and demonstrated strong patient demand,” said Andrew Obenshain, chief executive officer, bluebird bio. “Our recent agreement with Hercules Capital meaningfully extends our cash runway, and further enables us to capitalize on our commercial head start and bring our transformative gene therapies to patients and their families. In 2024, we anticipate between 85 to 105 patient starts across our three FDA approved therapies, laying the foundation for strong revenue growth.”
RECENT COMPANY HIGHLIGHTS
Up to $175 million Debt Financing with Hercules Capital
On March 18, 2024, bluebird announced that it had entered into a five-year term loan facility with Hercules Capital. Under the terms of the agreement, the Company may draw up to $175 million, available in four tranches. The first tranche of $75 million was drawn at closing. The Company may draw upon two additional tranches of $25 million each, subject to satisfaction of certain conditions, including achievement of commercial milestones. The facility also provides for a fourth tranche of $50 million, available at the lender’s discretion.
Based on launch estimates and current business plans, and assuming three tranches totaling $125 million are executed, the transaction is projected to extend the Company’s cash runway through Q1 2026.
COMMERCIAL LAUNCH UPDATES
Strong patient uptake across portfolio
First LYFGENIA patient start imminent; multiple patients enrolled and preparing for treatment across QTC network.
Continued strong, linear growth for ZYNTEGLO with 7 patient starts since the beginning of 2024, in addition to 20 patient starts completed for ZYNTEGLO in 2023.
Completed 2 patient starts for SKYSONA since the beginning of 2024, in addition to 6 patient starts completed for SKYSONA in 2023.
Validated access and reimbursement strategy is driving favorable coverage landscape
In the first quarter of 2024, bluebird signed its first Medicaid outcomes-based agreement for LYFGENIA with the state of Michigan.
In addition to the Medicaid outcomes-based agreement, bluebird has signed four outcomes-based agreements for LYFGENIA with national commercial payer organizations and published coverage policies cover more than 200 million U.S. lives.
Discussions are ongoing with more than 15 Medicaid agencies representing 80% of Medicaid-insured individuals with sickle cell disease in the U.S. and the Company is engaged with the Center for Medicare and Medicaid Innovation (CMMI) on its Cell and Gene Therapy Access Model demonstration.
Timely access to ZYNTEGLO and SKYSONA has continued, with zero ultimate denials for either therapy across both Medicaid and commercial payers.
Substantial QTC footprint established
bluebird has activated 62 QTCs for ZYNTEGLO (defined as a signed MSA); capitalizing on launch synergies, 49 centers are already receiving referrals for LYFGENIA.
Five centers are also activated to administer SKYSONA for patients with cerebral adrenoleukodystrophy (CALD).
The Company anticipates continued QTC network expansion across its portfolio in 2024.
LOVO-CEL CLINICAL TRIAL UPDATE
Enrollment is ongoing for the HGB-210 study evaluating lovo-cel for patients under the age of 12. The Company anticipates enrollment to be complete in Q4 2024.
2024 GUIDANCE
The Company anticipates 85 to 105 patient starts (cell collections) combined across all three of its FDA approved therapies (LYFGENIA, ZYNTEGLO, SKYSONA) in 2024. Consistent with previous quarters, bluebird plans to provide quarterly updates on patient starts for each of its therapies.
Gross-to-net discounts across all three products are expected to be in the range of 20% to 25% of gross revenue in 2024 and will fluctuate based on product and payer mix, and well as utilization of outcomes-based agreements for LYFGENIA and ZYNTEGLO.
Based on projected timelines from cell collection to infusion, the Company expects to recognize revenue from its first infusion of LYFGENIA in the third quarter of 2024.
FOURTH QUARTER AND ANNUAL FINANCIAL HIGHLIGHTS
Cash Position: The Company’s cash, cash equivalents and restricted cash balance was approximately $275 million, including restricted cash of approximately $53 million, as of December 31, 2023.
Based on launch trajectory and current business plans, bluebird expects its cash and cash equivalents excluding restricted cash and assuming three tranches totaling $125 million in proceeds from its term loan facility are executed, will be sufficient to meet bluebird’s planned operating expenses and capital expenditure requirements through Q1 2026.
In the fourth quarter of 2023, the Company entered into a factoring agreement which is accelerating cash collection related to patient starts across its portfolio of approved therapies.
Revenue, net: Total revenue, net was $7.8 million for the three months ended December 31, 2023, compared to $0.1 million for the three months ended December 31, 2022.
Total revenue, net was $29.5 million for the twelve months ended December 31, 2023, compared to $3.6 million for the twelve months ended December 31, 2022. The increase of $25.9 million was primarily due to SKYSONA and ZYNTEGLO product revenue.
For the year ended December 31, 2023, product revenues by therapy represent $16.7 million attributable to ZYNTEGLO and $12.4 million attributable to SKYSONA, with gross-to-net discounts of approximately 19% across both products.
On March 26, 2024, bluebird announced that it will restate its consolidated financial statements for 2022, and for the first three quarters of both 2022 and 2023 in its Annual Report on Form 10-K for the year ended December 31, 2023 (the “2023 Form 10-K"). The restatements relate to the identification of embedded leases and the treatment of non-lease components contained in lease agreements with contract manufacturers. As a result, the Company anticipates recording an increase in lease assets and lease liabilities, as well as an increase in non-cash interest expense in each restated period. The Company does not expect the restatement to result in any impact on its cash position or revenue. bluebird anticipates filing its 2023 Form 10-K, inclusive of the restatement no later than April 16, 2024.
The financial results included in this press release represent the most current information available to the Company’s management. The Company expects that its actual results to be reported in its 2023 Form 10-K will not differ materially from the results included herein, however, these results are subject to change following the completion of the Company’s financial close procedures and the audit of its consolidated financial statements for the year ended December 31, 2023.
Culp was the first name that popped into my head after the Calhoun announcement because of the miraculous turnaround he executed at GE and I hope it's a big NO. Another gigantic turnaround isn't needed at this stage in life, stay on with GE lol.
www.cnbc.com
'We need someone to fix Boeing.' Here's who could replace Calhoun as the troubled plane maker's CEO
Boeing's next CEO must handle the company's safety crisis and quality problems as well as growing competition from Airbus and Chinese manufacturers.
Thanks for the tip. Bought some BLUE this morning at 1.12 (it’s at 1.20 at the moment).
They are giving good guidance for FY2024, so I assume BLUE will have a bounce. However, they haven't fulfilled their commercial promises in the past. Definitely a short-term trade for now.
I actually lost money on that trade somehow.
But props to a great recommendation.
Are you staying in? This sounds to me like it's ready for a serious give back. What's the catalyst moving fwd?
Not to make this political, but Trump's stock is surging upon transition from spac to a Trump company.
One of those weird things where the stock surges upon transition, despite it being well known the transition was coming.
I rode that wave on NKLA a few years ago.
Wolfspeed in the news re: its $5B manufacturing facility in NC. Getting a bit of a pop today....
https://www.businesswire.com/news/home/20240326668100/en/Wolfspeed-Tops-Out-World’s-Largest-Most-Advanced-Silicon-Carbide-Facility-Alongside-Senator-Thom-Tillis-Key-Officials
For context, this new facility represents the largest economic development investment in the history of NC. The 200 mm SiC wafers produced at the new facility will be sold to other chip manufacturers as well as supply Wolfspeed's own chip manufacturing facility in Mohawk Valley NY. WOLF will be a recipient of $$$ via the Federal CHIPS and Science Act.
https://www.businesswire.com/news/home/20240326668100/en/Wolfspeed-Tops-Out-World’s-Largest-Most-Advanced-Silicon-Carbide-Facility-Alongside-Senator-Thom-Tillis-Key-Officials
For context, this new facility represents the largest economic development investment in the history of NC. The 200 mm SiC wafers produced at the new facility will be sold to other chip manufacturers as well as supply Wolfspeed's own chip manufacturing facility in Mohawk Valley NY. WOLF will be a recipient of $$$ via the Federal CHIPS and Science Act.
Last edited:
FYI - Tom Lee still pushing hard the small cap narrative for 2024. 50% upside.
The funniest thing I’ve seen lately was someone predicting Bitcoin at $48 million per “coin” in about 30-40 years. The math doesn’t work without severe and persistent inflation over that period of time.
Ha. Why $48 and not just $50?
I can certainly see a bunch more upside for BTC, but any price target is pure speculation, especially 30 years out. Silly to even talk about it.
Some great stories out there about holders that redeemed the spac shares for $10-10.50 . Guess maybe they didn’t understand how a spac works
GE took a little breather and had a small pullback in the last handful of days but back on the move again the last couple days. I'm not one who gives too much of a hoot about analysts calls but WFC kept its overweight rating on it and raised the PT to 200 from 177. That's the vicinity (190s-low200s) I'm looking to sell some of my highest priced shares. This anticipation for the GEV spinoff has really created a frenzy for GE Aerospace. I think GEHC went up like 50% after its spinoff and investors might have similar expectations but considering the run, you'd think a lot of that is priced in already.
General Electric stock target raised to $200 by Wells Fargo By Investing.com
General Electric stock target raised to $200 by Wells Fargo
www.investing.com
