Blueprint Medicines Corp Stock Price, News & Analysis

Blueprint Medicines Corporation (NASDAQ: BPMC) will host a live conference call and webcast to report its first quarter financial results on May 4, 2023, at 8:00 a.m. ET. Investors can join by dialing 833-470-1428 or 929-526-1599 internationally, referencing conference ID 668091, or online via the company’s website. An archived version will be available two hours post-call for 30 days. The company specializes in precision therapies for cancer and blood disorders, focusing on genetic drivers. Blueprint Medicines offers approved treatments such as AYVAKIT® and GAVRETO® and is advancing several programs targeting various cancers. For further details, visit their official website.

Blueprint Medicines Corporation (Nasdaq: BPMC) announced its participation in two upcoming investor conferences. The first is the 22nd Annual Needham Healthcare Conference, taking place virtually on April 18, 2023, at 2:15 p.m. ET. The second is the Stifel 2023 Targeted Oncology Days, scheduled for April 25, 2023, at 11:30 a.m. ET. Webcasts of each presentation will be accessible on the company's website, with replays archived for 30 days post-event.

Blueprint Medicines focuses on inventing precision therapies for cancer and blood disorders, utilizing advanced molecular targeting and drug design since 2011. The company aims to deliver therapies that target genetic drivers in various types of cancer, including systemic mastocytosis and lung cancer, in the U.S. and Europe.

Blueprint Medicines Corporation (NASDAQ: BPMC) announced on April 5, 2023, the grant of non-qualified stock options for 5,933 shares and 2,965 restricted stock units (RSUs) to five new employees under its 2020 Inducement Plan, effective April 1, 2023. The options have an exercise price set at $44.99 per share, the closing price as of March 31, 2023. These stock options and RSUs are key components in attracting talent, aligning with Nasdaq Listing Rules. The options will vest 25% after the first year, with additional monthly vesting thereafter, while the RSUs will vest 25% annually. Blueprint Medicines focuses on genomically defined cancers and rare diseases, leveraging precision therapy innovations to meet patient needs globally.

Blueprint Medicines Corporation (NASDAQ: BPMC) announced the lifting of a partial clinical hold on its Phase 1/2 VELA trial for BLU-222 by the FDA as of March 28, 2023. This decision follows a previous hold on February 10, 2023 due to reports of visual adverse events in some patients. The company is now working with trial sites to resume patient enrollment, having updated adverse event monitoring protocols. Chief Medical Officer Becker Hewes expressed confidence in BLU-222's potential, emphasizing plans to present initial dose escalation data in the second quarter of 2023.

Blueprint Medicines Corporation (NASDAQ: BPMC) announced on March 7, 2023, the grant of non-qualified stock options for 11,462 shares and 5,730 restricted stock units (RSUs) to four new employees, effective March 1, 2023. This grant is part of the 2020 Inducement Plan, aimed at attracting talent. The stock options have an exercise price of $43.15, equivalent to the closing price on the grant date. Options will vest 25% after one year, followed by monthly vesting, while RSUs will vest 25% annually. The grants comply with Nasdaq Listing Rule 5635(c)(4).

Blueprint Medicines Corporation (NASDAQ: BPMC) announced positive results from the PIONEER trial of AYVAKIT (avapritinib) for indolent systemic mastocytosis (SM). The trial demonstrated significant improvements in total symptom scores and quality of life, with AYVAKIT achieving a 53.9% reduction in serum tryptase levels. The FDA has granted priority review for a supplemental new drug application, with a decision expected by May 22, 2023. AYVAKIT was well-tolerated, with most adverse events being mild to moderate. The company plans to expedite access to this treatment following regulatory discussions.

Blueprint Medicines Corporation (NASDAQ: BPMC) will regain global commercialization rights to GAVRETO® (pralsetinib) from Roche, effective February 22, 2024. This decision was made due to Roche's strategic reasons for discontinuing the partnership. Blueprint Medicines has benefited from approximately $1 billion in payments since the collaboration began in July 2020, but anticipates no change to its 2023 revenue guidance. The company aims to ensure a seamless transition for patient access and is focused on advancing GAVRETO while also launching AYVAKIT® (avapritinib) in 2023.

Blueprint Medicines reported total revenues of $204.0 million for 2022, with $111.0 million stemming from AYVAKIT/AYVAKYT. The company is on track for FDA approval of AYVAKIT for indolent systemic mastocytosis, with priority review granted and an action date set for May 22, 2023. AYVAKIT revenues are projected to reach $130 million to $140 million in 2023. R&D expenses decreased to $477.4 million for the year, while net loss improved to $(557.5 million). Cash reserves remain robust at $1,078.5 million.

Blueprint Medicines Corporation (NASDAQ: BPMC) announced a partial clinical hold on the Phase 1/2 VELA trial of its drug BLU-222, as notified by the FDA on February 8, 2023. This hold was due to visual adverse events observed in a few patients, though current participants continue their treatment. The visual AEs included light sensitivity and blurred vision, primarily Grade 1, with one Grade 3 instance. All adverse events were reversible. The company remains confident in the drug's benefit-risk profile and plans to amend the trial protocol. Initial dose escalation data is expected in the first half of 2023.