On May 29, 2024 bluebird bio, Inc. (Nasdaq: BLUE) reported that O. James Sterling, has been appointed chief financial officer (CFO), effective June 10, 2024. Mr. Sterling most recently served as chief financial officer of Renalytix plc, a diagnostics company focused on clinical management of kidney disease (Press release, bluebird bio, MAY 29, 2024, View Source [SID1234643779]).
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"We are thrilled to welcome James to bluebird bio. We are confident that his extensive experience in the healthcare sector and knowledge of the capital markets will position us well as we work to prove the commercial gene therapy model, and demonstrate progress on our path to profitability," said Andrew Obenshain, chief executive officer, bluebird bio.
"It is an honor to be joining bluebird bio, a company that has pioneered gene therapy development over the past decade, and today is at the forefront of gene therapy commercialization," said O. James Sterling. "I look forward to working alongside others in the flock to drive growth, realize value for shareholders, and most importantly, support bluebird in its mission to bring transformative gene therapies to patients and their families."
Mr. Sterling was previously managing partner at Renwick Capital LLC, and managing director at investment banks Brock Capital Group LLC and Aleutian Capital Group. He also serves as a board director for a fund managed by Star Mountain Capital. Mr. Sterling has experience as a management consultant at Booz Allen Hamilton. He received his B.A. from Boston University and an MBA from Columbia Business School.
Mr. Sterling succeeds Chris Krawtschuk, who joined bluebird bio as chief financial officer in 2022. The transition will be effective June 10, 2024.
"I’d like to thank Chris for his contributions to the company over the past two years. We are particularly appreciative of his leadership role in accelerating critical cash flow into the company, as well as the completion of two equity raises and a debt agreement, which significantly extended the Company’s cash runway and strengthened our financial position during his tenure," said Obenshain.
On March 26, 2024, bluebird announced that it will restate its consolidated financial statements for the first three quarters and full-year 2022, as well as the first three quarters of 2023. As a result, the Company’s Annual Report Form 10-K for 2023 and its Q1 2024 Form 10-Q have been delayed. The Company is continuing to work expeditiously to complete these filings. Consistent with previous updates, the restatement is not expected to impact the Company’s cash position or revenue. Mr. Sterling will transition to oversee the restatement process upon his start date.