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Mar 31, 2021
Blueprint Medicines Q1 2021 Earnings Report
Blueprint Medicines reported financial results for Q1 2021 and provided a business update.
Key Takeaways
Blueprint Medicines reported total revenues of $21.6 million for the first quarter of 2021, including $7.1 million from AYVAKIT/AYVAKYT sales and $1.8 million from GAVRETO sales. The net loss for the quarter was $99.7 million, or $1.72 per share. The company's cash, cash equivalents, and investments totaled $1,430.1 million as of March 31, 2021.
AYVAKIT/AYVAKYT net product revenue was $7.1 million.
GAVRETO net product revenue was $1.8 million.
Collaboration revenue totaled $12.6 million.
Net loss was $99.7 million, or $1.72 per share.
Blueprint Medicines
Blueprint Medicines
Forward Guidance
The company expects to obtain regulatory approval from the FDA and launch AYVAKIT for the treatment of patients with advanced SM in Q2 2021. They also plan to present clinical data from the ARROW trial of pralsetinib at ASCO in Q2 2021 and initiate a global Phase 1 trial of BLU-945 in patients with treatment-resistant EGFR-driven NSCLC in Q2 2021.
Positive Outlook
- Obtain regulatory approval from the FDA and, if approved, launch AYVAKIT for the treatment of patients with advanced SM in the second quarter of 2021.
- Present clinical data from the ARROW trial of pralsetinib in patients with RET fusion‒positive non-small cell lung cancer and in patients with solid tumors at the 2021 American Society of Clinical Oncology (ASCO) Annual Meeting in the second quarter of 2021.
- Initiate a global Phase 1 trial of BLU-945 in patients with treatment-resistant EGFR-driven NSCLC in the second quarter of 2021.
- Complete enrollment of the registration-enabling Part 2 of the PIONEER trial of AYVAKIT in non-advanced SM in mid-2021.
- Initiate the Phase 2/3 HARBOR trial of BLU-263 in patients with non-advanced SM in mid-2021.
Challenges Ahead
- Delay of any current or planned clinical trials or the development of Blueprint Medicines’ current or future drug candidates
- The preclinical and clinical results for Blueprint Medicines’ drug candidates, which may not support further development of such drug candidates
- Actions of regulatory agencies, which may affect the initiation, timing and progress of clinical trials
- Blueprint Medicines’ success of current and future collaborations, partnerships or licensing arrangements.
- The impact of the COVID-19 pandemic to Blueprint Medicines’ business, operations, strategy, goals and anticipated milestones