PR Newswire
CAMBRIDGE, Mass., May 3, 2017
CAMBRIDGE, Mass., May 3, 2017 /PRNewswire/ -- Blueprint Medicines Corporation (NASDAQ: BPMC), a leader in discovering and developing targeted kinase medicines for patients with genomically defined diseases, today reported financial results and provided a business update for the first quarter ended March 31, 2017.
"In the first quarter of 2017, we expanded our clinical-stage portfolio of drug candidates with the dosing of the first patient in our Phase 1 trial of BLU-667, a selective RET inhibitor that addresses both primary and predicted resistance mutations, while also progressing our ongoing Phase 1 trials of BLU-554 and BLU-285," said Jeff Albers, Chief Executive Officer of Blueprint Medicines. "Our recent financing in April further strengthened our balance sheet, and we believe that we are well positioned to continue advancing our robust pipeline, including three clinical-stage drug candidates and multiple discovery programs, through important milestones. We look forward to presenting updated Phase 1 data for BLU-285 in GIST and systemic mastocytosis and BLU-554 in hepatocellular carcinoma later this year, which will help inform and guide our future development efforts for these programs."
Clinical Programs:
BLU-285: Gastrointestinal Stromal Tumors
BLU-285: Systemic Mastocytosis
BLU-285: Recent Scientific Presentations
BLU-554: Hepatocellular Carcinoma
BLU-667: Non-Small Cell Lung Cancer (NSCLC), Medullary Thyroid Carcinoma (MTC) and other advanced solid tumors with RET alterations
Corporate Highlights:
First Quarter 2017 Financial Results:
Financial Guidance:
Based on its current plans, Blueprint Medicines expects its existing cash, cash equivalents and investments, including the net proceeds from its April 2017 offering, but excluding any potential option fees and milestone payments under its existing collaborations, will be sufficient to enable it to fund its operating expenses and capital expenditure requirements into the second half of 2019.
Conference Call Information
Blueprint Medicines will host a live conference call and webcast today at 8:30 a.m. ET. The conference call may be accessed by dialing 855-728-4793 (domestic) or 503-343-6666 (international) and referring to conference ID 5771361. A webcast of the conference call will also be available in the Investors section of Blueprint Medicines' website at http://ir.blueprintmedicines.com. The archived webcast will be available on Blueprint Medicines' website approximately two hours after the conference call and will be available for 30 days following the call.
About Blueprint Medicines
Blueprint Medicines is developing a new generation of targeted and potent kinase medicines to improve the lives of patients with genomically defined diseases. Its approach is rooted in a deep understanding of the genetic blueprint of cancer and other diseases driven by the abnormal activation of kinases. Blueprint Medicines is advancing four programs in clinical development for subsets of patients with gastrointestinal stromal tumors, hepatocellular carcinoma, systemic mastocytosis, non-small cell lung cancer, medullary thyroid cancer and other advanced solid tumors, as well as multiple programs in research and preclinical development. For more information, please visit www.blueprintmedicines.com.
Cautionary Note Regarding Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, as amended, including, without limitation, statements regarding plans and timelines for the clinical development of BLU-285, BLU-554 and BLU-667; the timing of updated clinical data for Blueprint Medicines' Phase 1 clinical trials for BLU-285 and BLU-554; expectations regarding Blueprint Medicines' existing cash, cash equivalents and investments; and Blueprint Medicines' strategy, business plans and focus. The words "may," "will," "could," "would," "should," "expect," "plan," "anticipate," "intend," "believe," "estimate," "predict," "project," "potential," "continue," "target" and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Any forward-looking statements in this press release are based on management's current expectations and beliefs and are subject to a number of risks, uncertainties and important factors that may cause actual events or results to differ materially from those expressed or implied by any forward-looking statements contained in this press release, including, without limitation, risks and uncertainties related to the delay of any current or planned clinical trials or the development of Blueprint Medicines' drug candidates, including BLU-285, BLU-554 and BLU-667; Blueprint Medicines' advancement of multiple early-stage efforts; Blueprint Medicines' ability to successfully demonstrate the efficacy and safety of its drug product candidates; the preclinical and clinical results for Blueprint Medicines' drug product candidates, which may not support further development of such drug product candidates; and actions of regulatory agencies, which may affect the initiation, timing and progress of clinical trials; Blueprint Medicines' ability to develop and commercialize companion diagnostic tests for its current and future drug candidates, including companion diagnostic tests for BLU-554 with Ventana Medical Systems, Inc. and for BLU-285 with QIAGEN Manchester Limited; and the success of Blueprint Medicines' rare genetic disease collaboration with Alexion Pharma Holding and its cancer immunotherapy collaboration with F. Hoffmann-La Roche Ltd and Hoffmann-La Roche Inc. These and other risks and uncertainties are described in greater detail in the section entitled "Risk Factors" in Blueprint Medicines' Annual Report on Form 10-K for the year ended December 31, 2016, as filed with the Securities and Exchange Commission (SEC) on March 9, 2017, and other filings that Blueprint Medicines may make with the SEC in the future. Any forward-looking statements contained in this press release represent Blueprint Medicines' views only as of the date hereof and should not be relied upon as representing its views as of any subsequent date. Blueprint Medicines explicitly disclaims any obligation to update any forward-looking statements.
Blueprint Medicines Corporation | ||||||||
Selected Condensed Consolidated Balance Sheet Data | ||||||||
(in thousands) | ||||||||
(unaudited) | ||||||||
| ||||||||
| | | | | | | ||
| | March 31, | | December 31, | ||||
| | 2017 | | 2016 | ||||
Cash, cash equivalents and investments | | $ | 236,325 | | $ | 268,218 | ||
Unbilled accounts receivable | | | 2,826 | | | 3,577 | ||
Working capital (1) | | | 188,199 | | | 191,913 | ||
Total assets | | | 252,648 | | | 282,795 | ||
Deferred revenue | | | 44,220 | | | 47,235 | ||
Term loan payable | | | 3,246 | | | 4,069 | ||
Lease incentive obligation | | | 3,226 | | | 3,370 | ||
Total stockholders' equity | | | 188,222 | | | 213,078 | ||
| | | | | | | ||
(1) Blueprint Medicines defines working capital as current assets less current liabilities. | ||||||||
| | | | | | | | |
Blueprint Medicines Corporation | ||||||
Condensed Consolidated Statements of Operations Data | ||||||
(in thousands, except per share data) | ||||||
(unaudited) | ||||||
| ||||||
| | | | | | |
| | Three Months Ended | ||||
| | March 31, | ||||
| | 2017 | | 2016 | ||
Collaboration revenue | | $ | 5,840 | | $ | 6,856 |
Operating expenses: | | | | | | |
Research and development | | | 28,487 | | | 17,635 |
General and administrative | | | 5,683 | | | 4,646 |
Total operating expenses | | | 34,170 | | | 22,281 |
Other income (expense): | | | | | | |
Other income (expense), net | | | 425 | | | 61 |
Interest expense | | | (72) | | | (140) |
Total other income (expense) | | | 353 | | | (79) |
Net loss | | $ | (27,977) | | $ | (15,504) |
Net loss per share applicable to common stockholders — basic and diluted | | $ | (0.84) Werbung Mehr Nachrichten zur Medicines Aktie kostenlos abonnieren
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