Blueprint Medicines Q4 2023 Earnings Report
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.
Blueprint Medicines
Blueprint Medicines
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.