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Bluebird debuts, Vanda falls

Bluebird Bio (BLUE) soared as much as 92.2% before settling to an increase of 58.3% to 26.91 after increasing its IPO to 5.9 mil shares at $17 apiece, raising the amount of money it was expected to raise by 25% to $101 mil. The company has three rare-disease drugs in development, but no products on the market. Sarepta Therapeutics (SRPT) announced positive results for its phase two trial of eteplirsen, its treatment for Duchenne muscular dystrophy. Shares rose 4.3% to 39.78. Vanda Pharmaceuticals (VNDA) shares dropped 22.1% to 8.51 after analysts questioned the methodology of a late-stage trial on tasimelteon, which treats a rare sleep disorder in blind people.