bluebird bio Inc (NASDAQ:BLUE) announced change in the board of directors. As per the reports, it filed Form 8-K that contained the detailed information about this sudden change. The first significant change came in the form of departure of company’s Treasury & Principal Officer and CFO James DeTore.
Insights of Matter
Last week, bluebird and DeTore signed a separation agreement, which stated the severance benefits that DeTore would receive after leaving his position at the company. According to the reports, he would continue to receive base salary for another 12 months. Additionally, if DeTore chooses to continue with the healthcare benefits that he was getting as company’s CFO, bluebird will pay employer’s contribution until next 12 months after his separation from the enterprise or till the date he becomes eligible for similar benefits through another employer, whichever is earlier.
After DeTore parts his way, he will be associated with bluebird as a consultant and his equity will vest until the expiring date of consulting agreement. It’s not the first time when a senior executive has decided to leave the company; however, bluebird seeks to ensure that everyone parts his way on a good note with the enterprise.
Meanwhile, bluebird announced that it would present clinical data on Lenti-D in CALD at the upcoming AAN 2016 Annual Meeting, which is to be held in Vancouver, Canada between April 15-21, 2016. It has the interim data from Phase 2/3 Starbeam Study for the treatment of cerebral adrenoleukodystrophy ready, and can present it in front of audience during the Clinical Trials plenary session at AAN annual meeting.
As per the reports, the Starbeam Study focuses on the safety and efficiency of investigational gene therapy in boys below 17 years of age and suffering with CALD. The entire senior management team is looking forward to this presentation and hopes that it will receive positive feedback from audience.
