Blueprint Medicines Corporation - BPMC STOCK NEWS

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.

Blueprint Medicines Corporation (NASDAQ: BPMC) will host a live conference call and webcast on October 29, 2020 at 8:30 a.m. ET to discuss its third-quarter 2020 financial results and provide a corporate update. Investors can access the call by dialing (855) 728-4793 domestically or (503) 343-6666 internationally, using conference ID 2995408. A webcast will be available post-call on the Blueprint Medicines website. The company specializes in precision therapies targeting genomically defined cancers, rare diseases, and cancer immunotherapy.

Blueprint Medicines Corporation (NASDAQ: BPMC) announced on October 2, 2020, that it granted non-qualified stock options and restricted stock units (RSUs) to five new employees, effective October 1, 2020. The total grants comprise 77,118 stock options and 38,557 RSUs, including a significant award to the new President of Research & Development, Fouad Namouni, M.D. The options have an exercise price of $93.93, aligning with the stock's closing price on the grant date. These grants are part of the 2020 Inducement Plan designed to attract new talent in alignment with NASDAQ listing rules.

Blueprint Medicines Corporation (NASDAQ: BPMC) announced that the European Commission has granted conditional marketing authorization for AYVAKYT® (avapritinib) to treat adults with unresectable or metastatic gastrointestinal stromal tumors (GIST) with the PDGFRA D842V mutation. This marks the first approved therapy in Europe targeting this specific mutation. AYVAKYT showed a remarkable 95% overall response rate in the NAVIGATOR trial. The company plans to launch the drug initially in Germany, with subsequent launches in other countries based on local reimbursement.

Blueprint Medicines Corporation (NASDAQ: BPMC) reported positive top-line results from Phase 1 EXPLORER and Phase 2 PATHFINDER trials of AYVAKIT™ (avapritinib) in advanced systemic mastocytosis (SM). The trials demonstrated significant reductions in mast cell burden and high overall response rates. AYVAKIT was well-tolerated, showing improved safety at a 200 mg once daily dose. Blueprint plans to submit a supplemental new drug application to the FDA in Q4 2020, aiming to provide a transformative treatment option for patients with advanced SM.

Blueprint Medicines Corporation (NASDAQ: BPMC) announced promising results from the ARROW clinical trial for GAVRETO™ (pralsetinib) in patients with RET-mutant medullary thyroid cancer. The trial demonstrated a 60% overall response rate in previously treated patients and 74% in treatment-naïve patients. The drug showed robust safety and tolerability, with most adverse events being Grade 1 or 2. GAVRETO is under FDA review for use in advanced RET-mutant MTC, further supported by the updated NCCN guidelines. The trial results were presented at the ESMO Virtual Congress 2020.

Blueprint Medicines Corporation (NASDAQ: BPMC) announced promising preclinical data for BLU-945, a precision therapy targeting osimertinib-resistant EGFR-mutated non-small cell lung cancer (NSCLC). The data, presented at the ESMO Virtual Congress 2020, show that BLU-945 effectively inhibited triple-mutant EGFR, demonstrating over 900-fold selectivity compared to wild-type EGFR and robust anti-tumor activity in various lung cancer models. Blueprint plans to initiate a Phase 1 trial in early 2021 and is actively pursuing additional candidates to address the urgent need for new therapies in this patient population.

Blueprint Medicines Corporation (NASDAQ:BPMC) will have its CEO, Jeff Albers, participate in a virtual fireside chat at the 18th Annual Morgan Stanley Global Healthcare Conference on September 16, 2020, at 12:30 p.m. ET. This event focuses on the company's advancements in precision therapies for genomically defined cancers and rare diseases. A live webcast of the presentation can be accessed through the Investors & Media section of their website, with a replay available for 30 days. Blueprint Medicines is known for its innovative approach to developing targeted therapies.