Blueprint Medicines Corp

BPMC

Equity

ISIN US09627Y1091 / Valor 27670715

NASDAQ (2024-09-16)

USD 86.30-2.92%

Blueprint Medicines Corp
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About company

Blueprint Medicines Corp is a biopharmaceutical company focused on developing precision therapies for patients with genomically defined diseases. One of their key investigational products is Fidrisertib, an ALK2 inhibitor being developed for the treatment of Fibrodysplasia Ossificans Progressiva (FOP). In line with their commitment to precision medicine, Blueprint Medicines Corp entered into an exclusive worldwide license agreement with Clementia Pharmaceuticals to develop and commercialize Fidrisertib.

Summarized from source with an LLMView SourceSector: Technology

Revenue Growth

Blueprint Medicines Corp reported a significant increase in total revenues for the first quarter of 2024, reaching $96.1 million compared to $63.3 million in the same period of 2023. This growth was primarily driven by a substantial rise in product revenue, which more than doubled from $39.1 million to $92.5 million.

Net Income

For the first quarter of 2024, Blueprint Medicines Corp achieved a net income of $89.1 million, a remarkable turnaround from the net loss of $129.6 million reported in the first quarter of 2023. This positive shift was influenced by a significant debt extinguishment gain of $173.7 million.

Operating Expenses

Blueprint Medicines Corp's total cost and operating expenses for Q1 2024 were $174.9 million, a decrease from $187.5 million in Q1 2023. The reduction in research and development expenses, which fell from $112.1 million to $88.2 million, contributed to this decline.

Cash Position

As of March 31, 2024, Blueprint Medicines Corp reported cash, cash equivalents, and investments totaling $735.6 million, down from $767.2 million at the end of December 2023. The company's working capital also decreased from $593.5 million to $570.0 million over the same period.

Updated Guidance

Blueprint Medicines Corp has raised its full-year 2024 revenue guidance for AYVAKIT net product revenues to a range of $390 million to $410 million, reflecting strong performance and confidence in continued growth. This updated guidance underscores the company's positive outlook for the remainder of the year.

Summarized from source with an LLMView Source

Key figures

70.5%1Y

-16.2%3Y

6.54%5Y

Performance

50.5%1Y

54.8%3Y

54.2%5Y

Volatility