May 29, 2020

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Eye Catching Stock: Blueprint Medicines Corporation (NASDAQ:BPMC)

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Blueprint Medicines Corporation (NASDAQ:BPMC) changed -0.26% to recent value of $90.7. The stock transacted 291243 shares during most recent day however it has an average volume of 524.48K shares. It spotted trading -1.20% off 52-week high price. On the other end, the stock has been noted 103.47% away from the low price over the last 52-weeks.

Blueprint Medicines Corporation (NASDAQ:BPMC), a precision therapy company focused on genomically defined cancers, rare diseases and cancer immunotherapy, declared updated data from the ongoing, registration-enabling EXPLORER trial of avapritinib in patients with systemic mastocytosis (SM). The updated data showed a confirmed overall response rate (ORR) of 77 percent in advanced SM patients, as assessed by a central review committee of SM clinical experts. In addition, the data showed durable clinical activity across advanced, smoldering and indolent forms of SM, with patients on therapy up to 34 months and responses continuing to deepen over time. Avapritinib was generally well-tolerated, with most adverse events (AEs) reported by investigators as Grade 1 or 2. The results are being presented today in an oral presentation at the 24th Congress of the European Hematology Association (EHA) in Amsterdam, The Netherlands.

These updated data from the EXPLORER trial support Blueprint Medicines’ plans to submit a New Drug Application (NDA) to the U.S. Food and Drug Administration (FDA) for avapritinib for the treatment of advanced SM in the first quarter of 2020, subject to continued discussions with the FDA regarding the data required to support an NDA submission. Avapritinib has received FDA Breakthrough Therapy Designation for the treatment of patients with advanced SM, including the subtypes of aggressive SM (ASM), SM with an associated hematologic neoplasm (SM-AHN) and mast cell leukemia (MCL).

Dr. Deepti Radia, a hematologist and an investigator on the EXPLORER trial said “I believe that potently and selectively targeting KIT D816V, the disease driver in nearly all systemic mastocytosis patients, represents a promising therapeutic approach”. “These new data showed avapritinib led to profound reductions of objective mast cell burden and durable clinical responses across a broad patient population. In advanced systemic mastocytosis, I am particularly encouraged by the strong activity shown in patients with especially poor survival rates, such as those with mast cell leukemia or high-risk genotypes. These data further reinforce the broad potential of avapritinib to address important medical needs across the spectrum of the disease.”

Andy Boral, M.D., Ph.D., Chief Medical Officer at Blueprint Medicines said “These results highlight the promise of avapritinib, a potent and selective KIT D816V inhibitor, to be an important disease-modifying treatment in patients with systemic mastocytosis,”. “The updated data, including high confirmed response rates per central review, support our plans to submit a New Drug Application for advanced systemic mastocytosis in the first quarter of 2020. Avapritinib had strong activity in patients with indolent or smoldering systemic mastocytosis as well, providing further confidence in our approach for our ongoing registration-enabling PIONEER trial. By selectively targeting the common driver across all forms of systemic mastocytosis, avapritinib has the potential to address the spectrum of disease manifestations that significantly affect patients with different subtypes.”

BPMC earnings per share (EPS) expected to touch remained -37.60% for this year while earning per share for the next 5-years is expected to reach at 34.00%.

The company has 48.98M of outstanding shares and 47.68M shares were floated in the market. According to the most recent quarter its current ratio was 6.6 that represents company’s ability to meet its current financial obligations. The price moved ahead of 10.16% from the mean of 20 days, 13.27% from mean of 50 days SMA and performed 27.00% from mean of 200 days price. Company’s performance for the week was 2.72%, 17.49% for month and YTD performance remained 68.24%.

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