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bluebird bio Reports Second Quarter Financial Results and Provides Operational Update On track to complete planned business separation in 4Q 2021 ; each company launching with approximately 24 months of runway following separation - FDA has placed studies of elivaldogene autotemcel ( eli - cel , Lenti - D ™ ) for cerebral adrenoleukodystrophy ( CALD ) on clinical hold following safety report ; other SGD and oncology programs not impacted - Ended quarter with $ 942M in cash , cash equivalents , and marketable securities – Company to host conference call today , August 9 , 2021 at 8:00 am ET - Exhibit 99.1 CAMBRIDGE , Mass . - August 9 , 2021 - bluebird bio , Inc. ( NASDAQ : BLUE ) today reported financial results and business highlights for the second quarter ended June 30 , 2021 and provided operational updates , including the announcement that the U.S. Food and Drug Administration ( FDA ) placed a clinical hold on clinical studies of elivaldogene autotemcel ( eli - cel , Lenti - DTM ) gene therapy ( licensed as SKYSONATM in Europe ) for cerebral adrenoleukodystrophy ( CALD ) . - Severe genetic disease ( SGD ) business to scale back operations in Europe to focus on the U.S. market – - ABECMA generates strong performance in first quarter of U.S. launch - " I'm tremendously proud of what bluebird has accomplished this quarter both operationally and strategically to ready ourselves to launch both bluebird bio and 2seventy bio , " said Nick Leschly , chief bluebird . " Seven months after announcing our intent to split , and thanks to the incredibly hard work by our teams , we have created a solid foundation for both organizations . The ABECMA launch is exceeding expectations , the oncology INDs and severe genetic disease ( SGD ) biologics license application ( BLA ) filings are tracking for later this year , and we have established clear visions and leadership teams for each business . Importantly , we have made tough strategic decisions to reshape the overall cost structure to allow both companies to launch in a strong position to execute through important value - creating milestones . " ● BUSINESS SEPARATION In January 2021 , bluebird announced its intent to separate into two independent , publicly traded companies ( bluebird bio and 2seventy bio ) . The company expects the separation to be completed by the end of 2021 and to be tax - free to bluebird shareholders . ● ● Key members of the executive teams of both companies have been announced , effective upon completion of the planned separation . This includes Andrew Obenshain as CEO of bluebird and Nick Leschly as CEO of 2seventy . The full board of directors for both companies will be announced closer to the separation date . 2seventy has confidentially filed its Form 10 Registration Statement with the U.S. Securities and Exchange Commission ( SEC ) , in which it describes the planned tax - free spin - off of 2seventy as a publicly traded company . O bluebird plans to distribute 100 % of the outstanding shares of 2seventy common stock to bluebird's stockholders on a pro - rata basis . Based on current cash position and the expected $ 110M upfront payment upon closing of the National Resilience , Inc. strategic collaboration , the Company anticipates having a cash balance of approximately $ 900M at the time of separation . Together with existing and emerging sources of revenue , we expect our cash balance will be sufficient to fund approximately 24 months of operations for bluebird and 2seventy under current business plans .