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It’s okay to feel BLUE: Beating expectations, bluebird bio ($BLUE) raised $101 million for a total valuation of $389 million. The Cambridge biotech is working on developing new gene therapies.

As Fierce Biotech notes, the successful outing comes as something of a thaw for investors wary of risky, capital-intensive life sciences bets.

“But since the beginning of the year there’s been a growing queue of biotechs lining up at the newly open IPO window, and bluebird’s news is bound to inspire more such offering,” wrote John Carroll.

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