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Sep 30, 2020
Blueprint Medicines Q3 2020 Earnings Report
Blueprint Medicines experienced significant growth with two approved precision therapies and near-term opportunities.
Key Takeaways
Blueprint Medicines reported strong Q3 2020 results, highlighted by total revenues of $745.1 million, including $6.3 million from product sales, and a net income of $634.0 million. The company launched GAVRETO in the U.S. and prepared to file a supplemental NDA for AYVAKIT. Ended Q3 with approximately $1.4 billion in cash.
Received FDA approval and launched GAVRETO™ for RET fusion-positive non-small cell lung cancer.
Announced top-line EXPLORER and PATHFINDER data for AVYAKITTM in advanced systemic mastocytosis; plan to submit supplemental NDA to FDA in Q4 2020.
Received European Commission approval of AYVAKYT® for PDGFRA D842V mutant gastrointestinal stromal tumors.
Ended Q3 2020 with approximately $1.4 billion in cash driven by the upfront payments from the Roche collaboration signed during the quarter.
Blueprint Medicines
Blueprint Medicines
Forward Guidance
Blueprint Medicines anticipates several key milestones, including submitting a supplemental NDA for avapritinib, obtaining U.S. approval of GAVRETO for RET-altered thyroid cancers, and initiating a global Phase 1 trial for BLU-945.
Positive Outlook
- Submit a supplemental new drug application to the FDA for avapritinib for the treatment of patients with advanced SM in the fourth quarter of 2020.
- Obtain U.S. approval of GAVRETO for RET-altered thyroid cancers in the first quarter of 2021.
- Initiate a global Phase 1 dose-escalation trial for BLU-945 in EGFR-mutated NSCLC in the first half of 2021.