Gene therapy maker bluebird to restate 2022 financials after accounting error

By Thomson Reuters Mar 26, 2024 | 6:33 AM

(Reuters) – Gene therapy maker bluebird bio said on Tuesday it plans to restate its financial statements for 2022 and for each of the first three quarters of 2022 and 2023 following accounting errors.

The company has also identified “material weakness in its internal control over financial reporting”, it said.

The errors related to accounting of certain arrangements with some contract manufacturing organizations, according to bluebird.

The company said it will require additional time to prepare and review its financial statements and other disclosures before filing its Form 10-K annual report for 2023 with the U.S. Securities and Exchange Commission.

(Reporting by Leroy Leo in Bengaluru; Editing by Shounak Dasgupta)