Blueprint Medicines Corporation - BPMC STOCK NEWS

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.

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.