Blueprint Medicines Corp - BPMC STOCK NEWS

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.

Blueprint Medicines Corporation (NASDAQ: BPMC) has received FDA approval for GAVRETO™ (pralsetinib), targeting adult patients with metastatic RET fusion-positive non-small cell lung cancer (NSCLC). This approval was based on the ARROW clinical trial, demonstrating a 57% overall response rate in previously treated patients and 70% in treatment-naïve patients. GAVRETO is a once-daily oral therapy that could significantly enhance treatment options for this patient group. The product will be co-commercialized with Roche in the U.S., and rapid patient access is planned.

Blueprint Medicines Corporation (NASDAQ: BPMC) announced the grant of stock options and restricted stock units (RSUs) to five new employees on September 1, 2020. A total of 15,236 stock options and 7,617 RSUs were awarded under the 2020 Inducement Plan, which is designed for new hires. The options have an exercise price of $76.99 per share, matching the stock's closing price on the grant date. Vesting is set to occur over a period of four years, contingent on continued employment. This action reflects the company's commitment to attract talent in the precision medicine sector.

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.