Bluebird Will Restate Its Financial Statements For 2022, And First Three Quarters Of 2022 And 2023 In Its Form 10K For 2023 Related To Identification Of Embedded Leases And The Treatment Of Non-Lease Components In Agreements With Contract Manufacturers
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Bluebird Bio, Inc. (BLUE) announced it will restate its financial statements for 2022 and the first three quarters of both 2022 and 2023 due to issues related to the identification of embedded leases and the treatment of non-lease components in agreements with contract manufacturers. This restatement will be reflected in its Form 10K for 2023.
March 26, 2024 | 11:09 am
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Bluebird Bio, Inc. (BLUE) will restate its financial statements for 2022 and the first three quarters of both 2022 and 2023 due to issues with embedded leases and non-lease components in contracts. This will be detailed in its 2023 Form 10K.
Financial restatements typically lead to negative investor sentiment as they may reflect issues with a company's financial management or internal controls. For Bluebird Bio, this restatement could raise concerns about the accuracy of past financial reports and potentially impact investor trust and stock price in the short term.
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