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Dec 31, 2023
Blueprint Medicines Q4 2023 Earnings Report
Blueprint Medicines reported Q4 2023 results, with AYVAKIT net product revenues reaching $71.0 million and full-year revenues of $204.2 million. The company anticipates significant growth in 2024, driven by the launch in ISM and expansion in the U.S. and Europe.
Key Takeaways
Blueprint Medicines reported Q4 2023 revenues of $72.0 million, including $71.0 million from AYVAKIT net product revenues. The company anticipates global AYVAKIT net product revenue of approximately $360 million to $390 million in 2024.
AYVAKIT net product revenues reached $71.0 million in Q4 2023.
The European Commission approved AYVAKYT as the first and only treatment for indolent systemic mastocytosis (ISM).
The company advanced the development of BLU-222 in combination with ribociclib and fulvestrant in patients with HR+/HER2- breast cancer.
Blueprint Medicines anticipates global AYVAKIT net product revenue of approximately $360 million to $390 million in 2024.
Forward Guidance
Blueprint Medicines anticipates approximately $360 million to $390 million in global AYVAKIT net product revenues for all approved indications in 2024. The midpoint of this range represents more than 80 percent year-over-year revenue growth, the majority of which is expected to be driven by ISM.
Positive Outlook
- Global AYVAKIT net product revenues are expected to be between $360 million and $390 million.
- Revenue growth is expected to be more than 80 percent year-over-year.
- ISM is expected to be the primary driver of revenue growth.
- Operating expenses and cash burn are expected to decline in 2024.
- Existing cash, cash equivalents, and investments, together with anticipated future product revenues, will maintain a durable capital position.
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