bluebird proposes $600M follow-on after ASH gains

bluebird bio Inc. (NASDAQ:BLUE) jumped $30.65 (18%) to $201.80 on Monday, adding over $1.4 billion in market cap, after reporting updated data from the Phase I CRB-401 trial evaluating its chimeric antigen receptor (CAR) T cell therapy bb2121 in patients with relapsed or refractory multiple myeloma. Data were presented at the American Society of Hematology meeting in Atlanta.

After market close Monday, bluebird proposed to raise $600 million in a follow-on underwritten by Goldman Sachs, BofA Merrill Lynch, JPMorgan and Cowen...