This guidance excludes revenues from the anticipated Ayvakit indication expansion in indolent SM (ISM) in mid-2023.īlueprint Medicine also expects $40 million to $50 million (same as before) in collaboration revenues from existing collaborations for 2023. The Zacks Consensus Estimate for total revenues is currently pegged at $207.41 million. Selling, general and administrative expenses were $71 million, up 24.3% year over year, on account of higher costs related to the commercialization of Ayvakit/Ayvakyt (the brand name of Ayvakit in Europe), as well as increased compensation-related costs driven by improved headcount.īlueprint Medicines had cash, cash equivalents and investments worth $961.3 million as of Mar 31, 2023, as compared with $1078.5 million as of Dec 31, 2022.īlueprint Medicines now expects Ayvakit net product revenues for advanced systemic mastocytosis (SM) and gastrointestinal stromal tumors for 2023 in the range of $135-$145 million (earlier $130-$140 million). The primary driver of R&D expenses was increased compensation-related costs driven by improved headcount, along with increased costs related to early discovery efforts. Research and development (R&D) expenses were $112.1 million, down 8.7% from the year-ago figure. However, in February 2023, the company announced initiating the process of regaining development and commercialization rights for Gavreto from Roche. As a result, Blueprint Medicines’ current product revenues solely comprise sales from Ayvakit. The company only records the share of profit and loss for Gavreto in financial results and does not record any net product revenues from Gavreto sales. In July 2021, Blueprint Medicines transferred the responsibilities of booking the U.S. Blueprint Medicines is eligible to receive future milestone fees. In June 2018, the company inked a collaboration contract with CStone Pharmaceuticals to develop and commercialize its three clinical-stage candidates in Mainland China, Hong Kong, Macau and Taiwan, either as monotherapies or combo regimes. Sales of the drug grew 30% on a sequential basis and 63.9% on a year-over-year basis.Ĭollaboration revenues were $24.2 million, primarily generated from the agreements with CStone Pharmaceutical and Roche RHHBY. Net product revenues from Ayvakit sales were $39.1 million (including $34.9 million in the United States). The stock has gained 33.4% this year against the industry’s decline of 6.1%.īlueprint Medicines’ total revenues of $63.3 million comprised of net product revenues from Ayvakit (avapritinib) sales and collaboration revenues. Shares of Blueprint Medicines were up 12.6% on Thursday, following the announcement of the positive results. The company reported total revenues of $62.7 million in the year-ago quarter. Quarterly revenues of $63.3 million also surpassed both the Zacks Consensus Estimate and our estimate of $43 million and $40.7 million, respectively. The company reported a $1.79 per share loss in the year-ago quarter. Blueprint Medicines Corporation BPMC reported a loss of $2.15 per share for the first quarter of 2023, narrower than the Zacks Consensus Estimate of a loss of $2.66 as well as our estimate of a loss of $2.63 per share.
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