Blueprint Medicines Corp Stock Price, News & Analysis

Blueprint Medicines Corporation (NASDAQ: BPMC) announced the appointment of Fouad Namouni, M.D., as President, Research & Development, effective September 1, 2020. Dr. Namouni will lead a unified research and development organization, enhancing product development and overseeing global registration. His extensive experience includes leadership roles at Bristol-Myers Squibb, where he managed cancer immunotherapy programs. CEO Jeff Albers expressed confidence in Dr. Namouni's ability to broaden the company’s R&D vision and accelerate the development of key programs like avapritinib and pralsetinib.

Blueprint Medicines Corporation (NASDAQ: BPMC) announced on August 4, 2020, that it granted stock options for 14,514 shares and 7,255 restricted stock units (RSUs) to six new employees on August 1, 2020, under the 2020 Inducement Plan. The options have an exercise price of $73.18, equal to the closing stock price on July 31, 2020. These equity awards are part of a strategy to attract talent as per NASDAQ Listing Rule 5635(c)(4). The grant details include vesting schedules contingent on continued employment.

Blueprint Medicines Corporation (NASDAQ:BPMC) reported second-quarter 2020 financial results, achieving $8.3 million in revenues, including $5.7 million from AYVAKIT sales. Key highlights included a 60% response rate for avapritinib in systemic mastocytosis and a recent global collaboration with Roche for pralsetinib. The company's net loss widened to $123.5 million, with substantial R&D and SG&A expense increases. As of June 30, 2020, cash and cash equivalents reached $650.3 million, bolstered by a $308.4 million offering in January. Blueprint expects sufficient capital for self-sustainability.

Blueprint Medicines Corporation (NASDAQ: BPMC) announced that the European Medicines Agency's CHMP has recommended conditional marketing authorization for avapritinib for treating adults with unresectable or metastatic gastrointestinal stromal tumors (GIST) with the PDGFRA D842V mutation. A final decision from the European Commission is expected by the end of September 2020. If approved, avapritinib would be the first treatment in the EU for this indication. The drug has shown significant clinical activity and safety in trials, emphasizing its potential to transform treatment for affected patients.

Blueprint Medicines Corporation (NASDAQ: BPMC) will host a live conference call on July 30, 2020, at 8:30 a.m. ET to discuss its second quarter 2020 financial results and provide a corporate update. Investors can join the call by dialing (855) 728-4793 for domestic calls or (503) 343-6666 for international calls, using conference ID 2769677. A webcast will also be available on their website and archived for 30 days afterward.

Blueprint Medicines Corporation (NASDAQ: BPMC) announced a global collaboration with Roche and Genentech to co-develop and commercialize pralsetinib, a precision therapy targeting RET-altered cancers, including non-small cell lung cancer and thyroid cancers. Under the agreement, Blueprint Medicines will receive $775 million upfront, consisting of $675 million in cash and a $100 million equity investment. The partnership aims to expand pralsetinib's development across multiple settings, leveraging Roche's global reach to expedite commercialization. This collaboration is expected to strengthen Blueprint Medicines' financial position and support the advancement of its drug pipeline.

CAMBRIDGE, Mass., July 2, 2020 /PRNewswire/ -- Blueprint Medicines Corporation (NASDAQ: BPMC) announced stock options and restricted stock units (RSUs) granted to 13 new employees under its 2020 Inducement Plan, effective July 1, 2020. A total of 30,778 stock options and 15,388 RSUs were awarded, aimed at attracting talent. The options have an exercise price of $79.02, equal to the stock's closing price on the grant date. Vesting schedules for both options and RSUs are set to reward employees for continued employment.

Blueprint Medicines Corporation (NASDAQ: BPMC) announced on July 1, 2020 the submission of a New Drug Application (NDA) to the FDA for pralsetinib, targeting advanced RET mutant medullary thyroid cancer and RET fusion-positive thyroid cancers. This investigational therapy selectively inhibits RET mutations and fusions. The NDA was submitted under the FDA's Real-Time Oncology Review pilot program, aimed at expediting access to safe treatments. Pralsetinib has shown potent efficacy in preclinical studies, and the company is working with the FDA for timely approval.

Blueprint Medicines Corporation (NASDAQ: BPMC) announced in a press release on June 29, 2020 that The Lancet Oncology published results from the NAVIGATOR trial. The clinical data reveals a remarkable overall survival rate and tolerable safety profile for AYVAKIT™ (avapritinib) in patients with advanced PDGFRA D842V mutant gastrointestinal stromal tumor (GIST). The study reported an 88% overall response rate and 70% duration of response at 12 months. AYVAKIT is now the FDA's standard care for this specific mutation.