Blueprint Medicines shares surge on growth strategy and upbeat trial data

Investing.com — Shares of Blueprint Medicines (NASDAQ:) Corporation (NASDAQ:BPMC) climbed 17% as the company outlined its growth strategy for 2025, highlighting the potential of its systemic mastocytosis (SM) franchise and positive trial data for its new treatment, BLU-808.

Blueprint Medicines, based in Cambridge, Massachusetts, updated its peak revenue estimate for its SM franchise to $4 billion, driven by the successful launch of AYVAKIT (avapritinib) and revised prevalence estimates for SM. The company now aims to achieve $2 billion in annual revenues from AYVAKIT by 2030, a significant increase from its previous guidance.

The company’s shares rose following the announcement of results from a Phase 1 healthy volunteer study of BLU-808, which demonstrated a wide therapeutic window with rapid, robust, and sustained tryptase reductions exceeding 80%. These results support the potential of BLU-808 as a best-in-class treatment for a range of mast cell-driven diseases.

Blueprint Medicines CEO Kate Haviland commented on the company’s strong positioning, citing a number of commercial and clinical catalysts expected to deliver value to both patients and shareholders. The company’s integrated approach from research to commercialization is anticipated to drive operational efficiencies and a durable financial profile.

The company previously projected AYVAKIT product revenue of $475 to $480 million for the full year of 2024, representing a growth of more than 130% over 2023. The financial results for the fourth quarter and full-year 2024 are set to be reported in February 2025.

In addition to the SM franchise, Blueprint Medicines is focusing on advancing its pipeline, including the initiation of the Phase 3 HARBOR trial of elenestinib for indolent systemic mastocytosis and prioritizing investment in CDK targeted protein degraders for breast cancer and other solid tumors.

Stifel analyst Bradley Canino provided a positive outlook on the company’s prospects: “Outlook reinforces a bull thesis that the stock provides a positive risk/reward on a dual thesis.” The updated sales projections for AYVAKIT and the promising BLU-808 trial data are expected to be key drivers of Blueprint Medicines’ growth and investor confidence.

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