Blueprint Medicines Corp - BPMC STOCK NEWS

Blueprint Medicines Corporation (NASDAQ: BPMC) has announced the appointment of Kate Haviland as the new CEO, effective April 4, 2022, succeeding Jeff Albers, who will transition to Executive Chairman. The Board emphasized that this leadership change is a result of a long-term succession planning process aimed at ensuring continuity and strategic growth. Additionally, Christina Rossi has been promoted to COO, expanding her role in corporate affairs and portfolio strategy. Haviland has been with the company since 2016 and brings extensive experience in oncology and rare diseases.

Blueprint Medicines Corporation (NASDAQ: BPMC) has completed its acquisition of Lengo Therapeutics for $250 million in cash, with potential additional payments of $215 million based on regulatory and sales milestones. This acquisition includes LNG-451, an oral precision therapy aimed at treating non-small cell lung cancer (NSCLC) with EGFR exon 20 insertion mutations. The IND application for LNG-451 was submitted to the FDA in December 2021, with plans to advance into clinical trials in early 2022.

Blueprint Medicines Corporation (NASDAQ: BPMC) has appointed Daniella Beckman to its board of directors. With over 20 years of experience in corporate strategy and finance within the biopharmaceutical sector, Beckman aims to bolster the company’s strategic direction. CEO Jeff Albers highlighted her expertise as a valuable addition as the company seeks growth in precision therapies. Beckman's prior finance roles include positions at Tango Therapeutics and Idenix Pharmaceuticals, enhancing her capability to guide BPMC's future endeavors.

Blueprint Medicines Corporation (NASDAQ: BPMC) announced the granting of stock options and restricted stock units (RSUs) to thirteen new employees under its 2020 Inducement Plan, effective December 1, 2021. The grants included 39,862 stock options with an exercise price of $96.03 per share and 19,930 RSUs. These awards are to incentivize new hires as outlined by NASDAQ Listing Rule 5635(c)(4). The options will vest over four years, while the RSUs will vest over four years as well, contingent upon continued employment.

Blueprint Medicines Corporation (NASDAQ: BPMC) announced two significant Nature Medicine publications on the EXPLORER and PATHFINDER trials for AYVAKIT® (avapritinib), demonstrating its effectiveness in treating advanced systemic mastocytosis (SM). The studies included approximately 150 patients, showing a 75% overall response rate in both trials. AYVAKIT received FDA approval in June 2021. The data highlights improvements in patient symptoms and survival benefits, supporting Blueprint's commitment to advancing treatment for patients with this rare disorder.

Blueprint Medicines Corporation (NASDAQ: BPMC) has announced a definitive agreement to acquire Lengo Therapeutics for $250 million in cash, with potential additional payments of up to $215 million based on regulatory and sales milestones. This acquisition focuses on Lengo's LNG-451, a promising oral therapy for non-small cell lung cancer (NSCLC) with EGFR exon 20 insertion mutations. The deal is expected to close in Q4 2021, enhancing Blueprint's precision oncology portfolio while addressing significant medical needs for NSCLC patients.

Blueprint Medicines and Zai Lab have entered into an exclusive collaboration to develop BLU-945 and BLU-701 for EGFR-driven non-small cell lung cancer (NSCLC) in Greater China. This partnership aims to leverage Blueprint's innovation in precision therapies and Zai Lab's oncology expertise to address the significant medical needs in the region, where a high percentage of NSCLC patients have EGFR mutations. Blueprint will receive an upfront payment of $25 million and potential milestones totaling $590 million, with Zai Lab managing development costs.

Blueprint Medicines Corporation (NASDAQ: BPMC) announced on November 5, 2021 that it granted non-qualified stock options for 24,373 shares and 12,183 restricted stock units (RSUs) to new employees, effective November 1, 2021. This is part of the 2020 Inducement Plan aimed at incentivizing new hires per NASDAQ Rule 5635(c)(4). The options have an exercise price of $112.82, equal to the stock's closing price on the grant date. Vesting for options and RSUs will occur gradually over several years, contingent on continued employment.

Blueprint Medicines Corporation (NASDAQ:BPMC) reported a net loss of $117.2 million for Q3 2021, contrasting with a net income of $634 million in Q3 2020. Revenue reached $24.2 million, driven by $17.3 million from AYVAKIT, marking a 104% increase from Q2 2021. Collaboration revenues also contributed $6.9 million, while costs surged with R&D expenses at $84.4 million. The company anticipates total revenues for 2021 between $170-$180 million and is advancing clinical trials for its therapeutic candidates.