Biotechnology company bluebird bio (NASDAQ:BLUE) has announced that it will not be able to file its Quarterly Report on Form 10-Q for the first quarter of 2024 by the required deadline of May 15, 2024. The delay is attributed to the ongoing restatement of the firm's financial statements for the previous year and the first three quarters of both 2022 and 2023, which has also held up the filing of its Annual Report for 2023.
The company, known for its gene therapies, had previously disclosed issues necessitating the restatement of its financial results. This process has extended the timeline for completing the 2023 Annual Report on Form 10-K, which, in turn, has impacted the ability to finalize the latest quarterly report. The restatement is mandatory to correct the financial records for the year ended December 31, 2022, and subsequent quarterly periods.
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