Blueprint Medicines Corporation - BPMC STOCK NEWS

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.

Blueprint Medicines Corporation (NASDAQ: BPMC) will host a live conference call and webcast on February 16, 2023, at 8:00 a.m. ET to announce its fourth quarter and full year 2022 financial results and provide a corporate update. Investors can participate by dialing 844-200-6205 (domestic) or 929-526-1599 (international) using conference ID 286085. The call will also be available for webcast on the company's website, with an archived version accessible for 30 days post-event. Blueprint Medicines focuses on innovative therapies for cancer and blood disorders, leveraging its molecular targeting and drug design expertise.

Blueprint Medicines Corporation (Nasdaq: BPMC) announced that as of February 1, 2023, its Compensation Committee has granted non-qualified stock options for 36,260 shares and restricted stock units (RSUs) for 18,119 shares to 24 new employees under the 2020 Inducement Plan. The options have an exercise price of $46.05, reflecting the stock's closing price on the grant date. Options vest 25% after one year, with additional monthly vesting thereafter, while RSUs follow a similar vesting schedule. The grants are in compliance with Nasdaq Listing Rules.

Blueprint Medicines (NASDAQ: BPMC) will present pivotal results from the PIONEER trial of AYVAKIT® (avapritinib) at the 2023 American Academy of Allergy, Asthma and Immunology (AAAAI) Annual Meeting in San Antonio, from February 24-27. The trial is the largest randomized controlled study in indolent systemic mastocytosis (SM) and highlights AYVAKIT's efficacy across key endpoints. Notably, two oral presentations will occur on February 26, showcasing significant clinical impacts. The FDA is reviewing a supplemental new drug application for AYVAKIT, with a decision expected by May 22, 2023.

Blueprint Medicines Corporation (NASDAQ: BPMC) announced that the FDA has accepted its supplemental new drug application for AYVAKIT® (avapritinib) to treat adults with indolent systemic mastocytosis (SM). The FDA granted priority review and set a PDUFA action date of May 22, 2023. The application is based on the PIONEER trial, the largest randomized study in indolent SM. AYVAKIT notably reduced patient-reported symptoms and demonstrated a well-tolerated safety profile. The company aims to redefine treatment for this rare disease, currently lacking approved therapies for non-advanced SM, thereby potentially transforming patient outcomes.

Blueprint Medicines Corporation (NASDAQ: BPMC) announced the appointment of John Tsai, M.D., to its board of directors. Tsai, with over 20 years in drug development, previously served as President, Global Drug Development, and Chief Medical Officer at Novartis AG. His experience includes the management of 160 projects and 500 clinical trials, leading to approvals of 15 new medicines. The company also announced the retirement of George D. Demetri from the board, who will join the Scientific Advisory Board, having been with Blueprint since December 2014.

Blueprint Medicines Corporation (NASDAQ: BPMC) anticipates achieving the high end of its 2022 revenue guidance, estimating between $180 million and $200 million. The company projects AYVAKIT product revenue between $108 million and $111 million. With potential FDA approval for AYVAKIT in indolent systemic mastocytosis expected mid-2023, the company aims for significant growth. Upcoming clinical catalysts include data releases across various cancer programs, with a focus on expanding treatment options and enhancing patient care.

Blueprint Medicines Corporation (Nasdaq: BPMC) announced the grant of non-qualified stock options for 23,604 shares and 11,800 restricted stock units (RSUs) to 16 new employees, effective December 1, 2022. This grant is part of the 2020 Inducement Plan, aimed at attracting new talent. The options have an exercise price of $47.49 per share, equivalent to the closing price on the grant date. Vesting schedules for the options and RSUs are outlined, requiring continued employment for vesting.