Sept 24 (Reuters) - Bluebird bio will lay off

about 25% of its workforce, or 95 employees, the gene therapy

maker said on Tuesday, in a second major restructuring in two

years as the company focuses on launching its treatments amid a

cash crunch.

The company's shares rose 5% to 51 cents, a far cry from

about $150 they traded in 2018.

The latest restructuring will reduce by 20% its cash

operating expenses by the third quarter of 2025, the company

said.

Bluebird bio, which has been raising going concern doubts

for the past two years, had cut 30% of its jobs to save $160

million in costs in 2022.

CEO Andrew Obenshain said the latest restructuring would

help support the marketing of its three gene therapies,

including the recently approved sickle cell disease treatment,

Lyfgenia.

Lyfgenia, which has a serious safety warning about blood

cancer risk, is priced nearly $1 million higher than its rival

Casgevy from Vertex Pharmaceuticals ( VRTX ) and CRISPR

Therapeutics.

Lyfgenia's higher price could restrict access to the

treatment, analysts have said, with some of them saying that

bluebird would need to explore options such as a sale to launch

the therapies.

Massachusetts-based bluebird, which had 375 employees as of

June 2024, had a market value of about $95 million as of last

close.