Blueprint Medicines Corp Stock Price, News & Analysis

Blueprint Medicines Corporation (NASDAQ: BPMC) announced key milestones and goals for 2021. The company achieved four regulatory approvals in 2020, including breakthrough therapy designation for AYVAKIT for systemic mastocytosis. They aim to accelerate the global adoption of AYVAKIT and GAVRETO while advancing new therapies including BLU-263 and candidates for EGFR-driven non-small cell lung cancer. The company expects to maintain a self-sustaining financial profile, bolstered by existing cash and anticipated product revenues.

Blueprint Medicines Corporation (NASDAQ: BPMC) announced on January 5, 2021, that its Compensation Committee granted non-qualified stock options for 7,675 shares and 3,837 restricted stock units (RSUs) to three new employees, effective January 1, 2021. This is part of the 2020 Inducement Plan, designed to attract new talent. The options have an exercise price of $112.15 per share, the closing price on December 31, 2020, and will vest over four years, while the RSUs will vest over four annual increments. These actions reflect the company's strategy to enhance its workforce.

Blueprint Medicines Corporation (NASDAQ: BPMC) announced the submission of a supplemental new drug application (sNDA) for AYVAKIT™ (avapritinib) to the FDA, targeting adult patients with advanced systemic mastocytosis (SM). The application seeks priority review, potentially resulting in a six-month evaluation period. AYVAKIT is designed to inhibit D816V mutant KIT, the primary driver of systemic mastocytosis. The clinical data show promising response rates and overall survival benefits for patients. Blueprint Medicines aims to be the first to offer a precision therapy addressing this rare disease.

Blueprint Medicines Corporation (NASDAQ: BPMC) recently presented significant data at the 62nd American Society of Hematology Annual Meeting, focusing on systemic mastocytosis (SM). Their investigational therapy, AYVAKIT, is notable for achieving a 75% overall response rate and a 36% complete remission rate in advanced SM patients. The company plans to submit a supplemental new drug application to the FDA for AYVAKIT this month. Additionally, new diagnostic tools highlighted the urgent need for improved SM diagnosis, underscoring the severe impact of this rare disease on patient quality of life.

Blueprint Medicines Corporation (NASDAQ: BPMC) announced the granting of non-qualified stock options for 16,354 shares and 8,174 restricted stock units (RSUs) to eight new employees, effective December 1, 2020. This grant is part of the 2020 Inducement Plan, adhering to NASDAQ Listing Rule 5635(c)(4). The stock options have an exercise price of $105.65 per share, matching the closing price on the grant date. Vesting schedules for both options and RSUs are detailed, ensuring employee retention as they vest based on continued employment.

Blueprint Medicines Corporation (NASDAQ: BPMC) has received FDA approval for GAVRETO™ (pralsetinib), a targeted therapy for patients with RET-altered thyroid cancers. This accelerated approval includes adult and pediatric patients with advanced RET-mutant medullary thyroid cancer and RET fusion-positive thyroid cancer. GAVRETO is a once-daily oral therapy designed to selectively target RET alterations in various tumors. The approval is based on efficacy data from the Phase 1/2 ARROW trial, which showed a 60% overall response rate in RET-mutant MTC patients.

Blueprint Medicines Corporation (NASDAQ: BPMC) announced plans to present data on AYVAKIT™ (avapritinib) at the 62nd American Society of Hematology (ASH) Annual Meeting on December 6-7, 2020. These presentations illustrate the medical needs in systemic mastocytosis (SM) and the potential impact of AYVAKIT across various patient groups. AYVAKIT targets the D816V mutant KIT, a key driver of SM. The company emphasizes its commitment to improving SM diagnosis and treatment through collaborative efforts.

Blueprint Medicines Corporation (NASDAQ: BPMC) announced the grant of stock options and restricted stock units (RSUs) to five new employees effective November 1, 2020. The total includes 16,513 stock options and 8,255 RSUs, awarded under the 2020 Inducement Plan. The options have an exercise price of $102.28, matching the stock's closing price on October 31, 2020. Options and RSUs will vest incrementally over time, contingent on continued employment.

Blueprint Medicines Corporation (NASDAQ:BPMC) reported strong Q3 2020 financial results, achieving $745.1 million in total revenues. The net income surged to $634.0 million, or $11.16 per diluted share, compared to a net loss of $94.3 million in Q3 2019. Key product revenue included $6.1 million from AYVAKIT and $0.2 million from GAVRETO. The company expects significant growth with the upcoming supplemental NDA for AYVAKIT and the potential U.S. approval of GAVRETO for RET-altered thyroid cancers by February 2021, strengthening its market position.