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Dec 31, 2019
Blueprint Medicines Q4 2019 Earnings Report
Blueprint Medicines reported Q4 2019 financial results, launched AYVAKIT, announced pralsetinib trial data, and completed a follow-on offering.
Key Takeaways
Blueprint Medicines reported fourth-quarter financial results with a collaboration revenue of $51.5 million. The company highlighted the FDA approval and launch of AYVAKIT, progress in pralsetinib development, and the completion of a follow-on offering, extending the cash runway into the second half of 2022.
Received FDA approval and launched AYVAKIT™ (avapritinib) for GIST.
Announced top-line ARROW trial data for pralsetinib in RET fusion-positive NSCLC and initiated rolling NDA.
Planned to present initial PIONEER trial data for avapritinib in indolent SM at AAAAI Annual Meeting.
Completed follow-on offering and raised approximately $308.2 million in estimated net proceeds, extending cash runway into 2H 2022.
Forward Guidance
Blueprint Medicines expects that its existing cash, cash equivalents and investments including the $308.2 million in estimated net proceeds from the January 2020 follow-on public offering, together with anticipated product revenues but excluding any additional potential option fees, milestone payments or other payments under its collaboration or license agreements, will be sufficient to enable it to fund its operating expenses and capital expenditure requirements into the second half of 2022.
Historical Earnings Impact
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