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Bluebird Shares Plunge on Waning Effect of Old Gene Therapy

Bluebird Bio (BLUE - Get Report) shares fell 13% to $74.69 Monday afternoon -- the stock's lowest price this year -- after the company said a patient treated with a first-generation version of its gene therapy suffered a relapse seven years later.

The patient with beta-thalassemia, a rare blood disorder, required two blood transfusions because of clinical symptoms of anemia, Bluebird said. This patient was treated in 2007 with a precursor version of the company's gene therapy...