Healthcare Stock within Traders Concentration: Blueprint Medicines Corporation (NASDAQ: BPMC)


On Friday, Blueprint Medicines Corporation (NASDAQ: BPMC) has shown upward/downward move of -2.54% and ended the last trade at $67.92. The shares recorded a trading volume 290,777 shares as compared to its average volume of 323,164 shares. The company has 43.89M shares outstanding and market value of 2.981B.

Blueprint Medicines Corporation (BPMC) recently stated financial results and provided a business update for the second quarter ended June 30, 2018.

Clinical Programs:

Avapritinib: Gastrointestinal Stromal Tumors (GIST)

  • In June 2018, Blueprint Medicines reported the dosing of the first patient in its Phase 3 VOYAGER clinical trial, which will evaluate the safety and efficacy of avapritinib contrast to regorafenib in patients with third- or fourth-line advanced GIST.
  • In June 2018, Blueprint Medicines presented data from a retrospective natural history study of patients with advanced PDGFRα D842V-driven GIST at the 2018 American Society of Clinical Oncology (ASCO) Yearly Meeting. The data confirmed that patients with advanced PDGFRα D842V-driven GIST are unlikely to respond to presently accessible tyrosine kinase inhibitors (TKIs), illustrating the high unmet need for new therapies in this patient population with a short survival rate.
  • Blueprint Medicines continues to evaluate avapritinib in its Phase 1 NAVIGATOR clinical trial and anticipates presenting updated data across multiple patient populations, including PDGFRA-driven GIST, third-line or later GIST and second-line GIST, in the second half of 2018. Additionally, based on data from this trial, the Company plans to submit a new drug application (NDA) to the U.S. Food and Drug Administration (FDA) for avapritinib for the treatment of patients with PDGFRA-driven GIST and fourth-line KIT-driven GIST in the first half of 2019.

Second Quarter Financial Results:

  • Cash Position: As of June 30, 2018, cash, cash equivalents and investments were $616.7M, as contrast to $673.4Mas of December 31, 2017. This decrease was primarily related to cash used in operating activities, partially offset by the $40.0M upfront payment received in connection with Blueprint Medicines entering into the alliance with CStone Pharmaceuticals and the $10.0M milestone payment received from Roche.
  • Alliance Revenues: Alliance revenues were $41.4Mfor the second quarter of 2018, as contrast to $5.9M for the second quarter of 2017. This raise was primarily Because of revenue recognized under the alliance contract with CStone Pharmaceuticals.
  • R&D Expenses: Research and development expenses were $58.6Mfor the second quarter of 2018, as contrast to $33.3M for the second quarter of 2017. This raise was primarily attributable to raised clinical and manufacturing expenses associated with advancing avapritinib, BLU-554 and BLU-667 further through clinical trials and raised personnel-related expenses. Research and development expenses included $4.3M in stock-based compensation expenses for the second quarter of 2018.
  • G&A Expenses: General and administrative expenses were $12.3Mfor the second quarter of 2018, as contrast to $6.8M for the second quarter of 2017. This raise was primarily attributable to raised personnel-related expenses and raised professional fees, including pre-commercial planning activities. General and administrative expenses included $3.5M in stock-based compensation expenses for the second quarter of 2018.
  • Net Loss: Net loss was $27.0Mthe second quarter of 2018, or a net loss per share of $0.62, as contrast to a net loss of $33.4M for the second quarter of 2017, or a net loss per share of $0.86.

Financial Guidance:

Based on its current plans, Blueprint Medicines expects that its existing cash, cash equivalents and investments, not including any potential option fees and milestone payments under its existing collaborations with Roche and CStone Pharmaceuticals, will be sufficient to enable it to fund its operating expenses and capital expenditure requirements into the second half of 2020.

BPMC is recorded at 3.35 and the relative strength index of the stock stands 43.39. The stock price is going above to its 52 week low with 18.25% and lagging behind from its 52 week high with -37.69%. Analyst recommendation for this stock stands at 1.40.