Blueprint Medicines (BPMC) 30 Jul 202020 Q2 Earnings call transcript

Company Profile

Participants

Kristin Hodous	Senior Manager, IR
Jeff Albers	CEO
Christy Rossi	Chief Commercial Officer
Mike Landsittel	CFO
Andy Boral	Chief Medical Officer
Peter Lawson	Barclays
Marc Frahm	Cowen and Company
David Lebowitz	Morgan Stanley
Reni Benjamin	JMP Securities
George Farmer	BMO Capital Markets
Arlinda Lee	Canaccord

Call transcript

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Operator

Ladies and gentlemen, thank you for standing-by. And welcome to the Blueprint Medicines Second Quarter 2020 Financial and Operating Results Conference Call. At this time, all participants are in a listen-only mode. After the speakers’ presentation, there will be a question-and-answer session. [Operator Instructions] I’d now like to hand the conference over to your speaker today, Kristin Hodous of Blueprint Medicines. ahead. go please you, Thank

Kristin Hodous

outlines Thank you, Medicines conference welcome Blueprint release, everyone. This discuss plan today. Good quarter XXXX morning, which press second a results we And topics financial we morning, to to issued Operator. the and call. operating

will the will as our website business our highlights; Dr. Officer, Chief Officer, Commercial can our provide the Chief Chief Blueprint be will be will Today, and the on we'll Officer, Jeff quarter well at and is Boral, slides Albers, Financial XXXX Andy update; Executive Mike available of Christy access Rossi, Officer You today Investors for Chief results; by our a on section as Medical Medicines commercial second Q&A. that financial call, our reviewing discuss our review going our also press release, to Landsittel, call the www.blueprintmedicines.com.

to on statements forward-looking that events those started, we everyone differ materially forward-looking implied statements would expressed include will a remind call from or make like by we statements. results conference could any Before I as or get most SEC Actual various quarterly XX-Q that other risks, uncertainties our those on the including forth report we the and SEC. the any of with Risk other section filed make of factors, with in form Factors result set and recent filings this

representing relied We to as forward-looking represents only date. as views any upon obligation this views of any our any should revise addition, update call made and not statements any disclaim In be on forward-looking as statements. specifically today or subsequent our of

Albers. Jeff our here's CEO, Now

Jeff Albers

we've fully the first be company. precision goals against quarter the medicine it for Blueprint has to given Medicines talked a shaping into provide integrated how year, Blueprint been year. XXXX Medicines. the I'm At half as And transformational of and certainly the Kristen, made a update an happy with Thanks, on morning we up evolved happened was about beginning everyone. what our achievements we for productive to good over

second progress Let strategic the me this highlight across year how focus. the three of sets up our going half of into us areas

AYVAKIT, First, establishing harness foundation will our now commercial for which [indiscernible]. we with

Second, pipeline to start-off significant strong for the I’ll and with discovery future U.S. XX prioritizing patients advance given exon medical the third, leveraging opportunities. platform AYVAKIT with a our of systemic mastocytosis mutant PDGFRA alpha treatment GIST. launch need,

with a discuss experience, Christy As patients. products moment, and and gained deliver to our nimble in a commercial along will it infrastructure critical we've highly effective built to team

the our exon capitalizing partners Our new experience on of the and strong XX PDGFRA early for capabilities the planned coming our Roche. U.S. We're outside which Genentech months, at for AYVAKIT we mutant us gives in the amplified our launch of the experience of have foundation a integrate AYVAKIT as also will

positive the received This on us achievement ago, decision this days of by few for of quarter. end marketing DXXXV authorization with PDGFRA alpha avapritinib treatment the sets our we application up final the for a Just patients opinion CHMP mutant GIST. a

expect additional commercial countries initiate in launch we first approved, Germany, is to with avapritinib Assuming European to follow. our

PATHFINDER mastocytosis. targeting commercial Part expect data Based of program. the starting medical an area EXPLORER opportunity with Earlier reported design significant the from the day this advanced Part X these data opened per once disease within systemic new largest indolent focus the is dose. of approach and potently initiated SM report set, PIONEER Later well. and patients we patients U.S., trial the opportunity of The to trials FDA from application represents finalized second from once readiness, across labeling with a on Part lay recommended treatment we've The the initial avapritinib plan encouraging need the Regulatory future stage our very for launch that mastocytosis. of Authorities. top quarter, of to year, of progress of X of which advance paradigm. the the XXX will new data, approximately in in this driver assessments systemic milligrams portfolio. we with our trial. pleased as today, with we selected announce avapritinib, strategic differentiated combined will the submission systemic single believe efforts our systemic include daily our foundation will And Additionally, combined mastocytosis for XX our great from mastocytosis the to SM commercial line drug the data XX Building in the as the We we're quarter, registration fourth milligram supplemental clinical in this support as input patients X response dose this recommended we at

Additional and populations. the measure will kinetics, supporting time the response trial the the and objective such submission cell serum tryptase, mast to including include duration as response, across updated safety and data results broader response readouts of burden

At future discovery broad mutant small share data scientific lung EGFR, highlighting Earlier in over as September, selectivity our as plans the present the this year. we to on for for mutant plan robust development to update kinase, bring potent This next ability triple non a therapy early clinic first-in-class to an preclinical for cancer. continues combines growth. address program of BLU-XXX the with well a new to BLU-XXX challenging Virtual of inhibition to triple into provide ESMO positive resistant candidate platform opportunities the our target wild Finally, continue nominated this cell type we EGFR profiles. platform year treatment product Congress

of nominate the the Importantly, the – year. of development first the end by three we candidates after new to hope triple program mutant EGFR just is our

the months these call half our an We turn the efforts. path now areas Medicines over you or on half of Blueprint second provide to precision milestones the on data we for the laid the commercial these that, foundation medicine Christy growth for as the and across continue the over with on And leading to to our regulatory look progress updating significant Christy. to Our world's into I'll become throughout year. forward and critical coming update second company.

Christy Rossi

an to on and the launch progress, quarter ongoing alpha And morning, share pralsetinib. of GIST. Jeff. our planned our half I'm Through been of we preparations thanks, PDGFRA sales commercial everyone. mutant full update Great, AYVAKIT the for exon first we on in that patient of of first XX have therapies address And global in delivering coming truly happy support the of our will good that and needs. XXXX, potential near-term the avapritinib the focused to establishing foundation in approvals the be multiple launches years. of on Europe, anticipated excited precision pralsetinib significant With are path portfolio a including U.S.,

our launch sales the goal. has towards by $X.X the AYVAKIT driven of against In launch $X.X been pleased start since quickly launch, centers we AYVAKIT our treatment excellence or first clinical in see our and not patient strategies. patient systemic essential on critical as suggesting exceed can world have have and access support, been that our that been are quarter, By see on in GIST net our launch to access We We ensured achieved also in and initial and course, of other remain hematology established studies. may broad refill second successful mastocytosis. journey strong stakeholders is just execution pralsetinib clinically than and million that patients million label. those strong duration for high treatment on or but in we quickly on generated with key Of that it and the education, appropriate. Blueprint prescribed to we step real oncology realizing focusing for this better our as long rates line individualized And clinical particularly with rapidly seen continue I've for

between noted lung last the team. community, setting. we efforts noticed new coming half QX of us our disease profiling fueled in Finally, prescribers This before GIST by the overlap community the the launch efforts we prescribing for now has encouraged our awareness our of with in continue to prepare And next add seasoned as enabled the and our I and quarter, has pralsetinib. chapter to evolution, launch. significant prescribers continued approximately anticipated this commercial trend breath that was to of advance field strong from and I see I've in upon

a As a clinical and inhibitor and to and responses, predictable once profile, RET deep including I’ve durable deliver our daily on patients, profile focusing safety shared before, differentiated manageable we best-in-class to dosing. plan

We started partnership I we the Genentech. with two more organizations. transformative we there will as colleagues engage not of community importance will recognizes be centers. the launching oncology top with confident a that patient And this and into collaboration, experienced a the to with healthcare power centered we our team about priority. excited was implement provider to in highly be this our launch to before across And could bring approach is our ability I whom for entered our

for While identify efforts, and opportunities working Blueprint Genentech integrate with will be driving are them to already we our extend launch and amplify to efforts. near-term

substantial to capabilities, of their diagnostic data team. For in example, and by leveraging addition the their experience

As product with differentiated our a is we foundational that well a profile focused of the amplified we strong the in a to and partner medicine prepare are a our from nimble single With positioned for year, for and second AYVAKIT. opportunity team infrastructure experience pralsetinib. launch a maximize by

and with thrilled execution commercial are preparation thus our We far.

discuss best-in-class like are precision multiple to financial it over on to to to now well We commercial patients. turn building organization to a I'd Mike our way deliver therapies effectively updates. to

Mike Landsittel

release. detailed second financial results quarter this our Earlier reported Thanks, Christy. in press morning XXXX we

call, a quarter. few touch on the I'll financial today's from For highlights

inventory mentioned, As remained work the we off Cost expense were Christy pleased product to AYVAKIT we continue of sales net in pre-approval. second low million that as record quarter. $X.X of we sales to AYVAKIT of to

increased compensation by prior expenses the operating stock-based an compared It's total in Our increasing driven slightly to part expense. quarter.

our do compensation for light the R&D of expense non-cash billion with strongest in company. $X.X sharing our financial savings the the We portfolio. upfront pralsetinib we in with through ever for half expect are cost expense and profit of cash anticipate investment our systemic collaboration as growth mastocytosis over position offset a stabilized the we in collaboration, foreseeable including planned from to in increases With the in after that and been see Looking forward Roche, quarter-over-quarter arrangement continued as second stock-based payments future. global XXXX have increases Roche we discovery in

collaborations, Excluding to and from million from of our in $XX additional up anticipate the milestones revenues the of multiple upfront combination second the for XXXX a product from of we sales. payment potential half Roche,

million revenue our We our anticipated future opportunities an enhanced Clementia for Between value more in high in collaboration was we collaborations flexibility portfolio. and BLU-XXX revenues, across pathway in previously recognized now with a multiple financial QX, from July clear in that cash product independence $XX invest received to additional to our also XXXX. and as have

across progress We are with that, Operator. forward make age, you further and we're like call our company questions. of turn we I’d With and in the a size to portfolio. updates our a to now for sharing our unique position continue as looking for over to to operator

Operator

Instructions]. [Operator

first comes with from Goldman Your question Sachs. Salveen Richter

Unidentified Analyst

[Andrea] thanks X of us data PIONEER is is on you for timing question. one and and screening question. and this for just we the I on expectations first everyone, a follow-up Part taking have for My Jeff, Salveen might Hi, see enrollment patient remind may when for can for be the study then the

Jeff Albers

Sure.

at this lot involved this new are from the last that on to process. well is sites coming as about So X with a some continue now through as of Jeff. going see the initiated we've call and were screening talked quarter study that that On Part we then PIONEER, enthusiasm sites the

to readout as but how enroll and to also COVID next few timing weeks, guided reminder, site impact a the in We plan initiation over XXX of patients, and the to the want see not but out we plays just have that months. we coming not

on handle consistency to staying are sites which that the better off a have do going hold guidance. open. with providing We're So on

Unidentified Analyst

launch to actions pralsetinib? maybe then EU? for And just some about should expected hiring that in place Roche for guys been then have Just you in And of you and there? the have in can the think question progress been the team preparation then speak taking second Christy. maybe AYVAKIT the cadence for the how U.S. both it? Got we of How a the incorporating

Christy Rossi

Sure.

launch. in So the for focus fact, the was And with really U.S. EU. and portfolio mind. in is a AYVAKIT on has team, first place AYVAKIT I built in since said has team in U.S. as place that been question before, The in

launching the driving be and with our focused all been has will much are preparing pralsetinib. primary priority team launch on team that very and that for pralsetinib So along really

And and pralsetinib. team's focused really see education so currently launch been a disease that for promotion shifts to we're it's then and on going driving focus primary will upon profiling be

that with nimble countries market believe team because centers focused team a we place in very have an then team a small focus eventual have be we focused that And whom on with Europe, relationships, the number in that AYVAKIT team. of approval for target at anticipate launch. have driving near-term market treatment that we a effectively SM that And of that initial infrastructure we the we the foundational that the For is nimble launches, already can will will small and on Europe. prepare will

Jeff Albers

Christy, Roche. integration And the with was second part the

Christy Rossi

but Yes, amplify the sorry. so in helping their team, in an anticipate example. drive particularly Blueprint for our weeks targeted efforts, ways already driving will to therapies, Genentech said then And approval be we into for very pralsetinib to Oh, has which many I imminent Roche of and just it’s what Certainly be an collaboration the as leveraging we'll initial identification, to as identified involved the these the proximity leveraging announce launch data been of the power clearly due in of the come portfolio States really testing of patient around [indiscernible]. to efforts, United we've pralsetinib. and

So, but where responsibilities, can of think help identified and come through have number and details they of out specifics on on gate. really some they in the working we're us of roles still the ways a

Unidentified Analyst

Great, thanks so much.

Operator

question Lawson Peter from next with comes line Barclays. of Your the

Peter Lawson

for my thanks. questions. Hi, taking Thanks

space. RET the on Just

of great you're hearing molecule [indiscernible] the point regarding CR Just and prolongation what versus hearing? what mixed so from messages, kind when were it’s hearing physicians understand rates they better like of to and you're glucose

Jeff Albers

historically seeing start we're and rates, Christy that to is think data Andy and to activity, does the that and encouraged of it something we've way want I'll recently very and have in they're then as the most consistent response community over to put they'll adverse predictable the in a particularly on side that unusual therapies. with with comfortable can Yes, you that the the effects by response for that comments profile may opening going what encouraged at they're hear manage by -- impact ready [ready] other then positions we want and Jeff, are notable Andy more deep going out CR how responses We how And this more consistency event that in. what noted And longer is an translate safety the term. that durable see treat. And know ASCO. to -- physicians -- very at into and are which, out his is much aired they're more to push that,

So, but academic there's with obviously profile we at the [immunity] very a differences when think sites pralsetinib. versus we the overall, have promising look sites, we

Peter Lawson

Thanks. you. Got

Andy Boral

We've and think community our in other repeatedly a now talked back of to both comes bit kind a of I done and characteristic lot a distinguishing and investigators in we theory, as you QX. more

and other a things antibiotics, having to use we antiemetics, so advantage. like that about that is of care, just I for think real medications not the general that about patients worry the hardest thing [QT] the often need restricts supportive prolongations just

Peter Lawson

And best dynamics, which on at and color is RET/Raf-X, Great, look launch and here just the and thank what ERK then proxies what takes are versus other or and the the the puts those we that launches? the are you.

Jeff Albers

Christy, that? do take you want to

Christy Rossi

Sure.

I are of are those None perfect, helpful. So, right. analogs them think of all

sort and of certainly of and think a I identification. are testing patient driver, the many just often that interested I is think So acceleration

in two et is broadly. But therapy. recent of RET shifted other has of of historically think each a those It's of piece tend And similar more We'd towards the number accelerated practices. lung space look the terms so, -- and availability is the on really potentially players utilization right. has testing see a in certainly with that And helpful regard, dynamic more by expect ramp this testing ramp of launches agents the that having obviously to become if mutation, with market very launches you slightly frequency really of driven space I different that stages at practices you in targeted of therapy those effective of the testing cetera. the drive

excited -- to are that as and Jeff said available out hopefully you having forward pralsetinib we enthusiastic about looking soon. there with getting So really and relatively

Peter Lawson

thanks. Great, Great.

Operator

of comes Frahm line question Cowen Marc next and from Your with the Company.

Marc Frahm

Maybe a past things an that. thanks dose the like up questions. follow for the about question a my Jeff – kind to Jeff IFM taking on you just the about Hi, talked patients waiting select in you past of backlog earlier trial. in were and as of

to online, seen bolus little reluctance would into even come of you have have a kind pandemic? already the bit sites, patients to activated clinic in come the from expected the they a of you've you seeing from as or patients sites have like As of you coming

Jeff Albers

Yes, so this Jeff Albers.

too reminded say, different mean think that of than is And broad is I to find the sort Nebraska. that U.S. if think early every versus I often I that's Europe. I unique, site I'm Massachusetts then

there clearly that with the that therapy, that focused really we're what our provides time patients of is a being mastocytosis that you upside not like and we're but So demand systemic only really long about in for on as a opportunities staying underlies push that continued seeing period biggest treated is think targeted meaningful on. avapritinib. And, and identified, is,

I site-by-site. that see that then out, as intact, that we thesis completely play So think is

I be there's variability. some think to going

and We it patients often going how we manage we're come that. have site when sites by investigational that backlogs is definitely in have varies are And how to seeing.

lining to there notwithstanding like specific the continue in. to up will and through it's we're to these inappropriate is work know pandemic, that's guidance. already that So see demand patients feel to we we seeing just a and provide need why we patients We come enrolled,

will the about think XX to enroll patients, these you sites a play out with enough that when that going XX need there's we're that high medical to -- but sites. how So exactly even pandemic, that

I going be think variability. to Andy? there's

Andy Boral

I well, think you framed it Jeff.

patients when As just we threatening it a moving target we really at matter okay. versus and of It's to just it setting centers the comfortable not have but country. of in investigators, a in care health -- people else that they they're of our it's do in in the list think of now Massachusetts looking the talk places versus life it's it's there's a somewhere a Florida a is them having bit different into feel disease, coming really

Marc Frahm

on the of one outside as AYVAKIT, a in demand, in maybe both then seeing PDGFRA. as And quick so you well PDGFRA just Christy, mentioned Okay. past,

VOYAGER definite the Have the trajectory following of you shrink? You're as results? patient trial PDGFRA start in noticed outside the change maybe new demand

Christy Rossi

Sure.

So as precisely like utilization PDGFRA is not may pull what you between I’ve that say what it, patient sort is can the mutant alpha, we well I in to new them see mutation alpha other that we're Either just said, PDGFRA focus which GIST alpha so is of on looks patient kind continuing labeled. as across organically is of it's and -- PDGFRA prescribers across relying Clearly see about something we're starts. consistently and of GIST. And as to that you're added even breakdown patients, can difficult them seeing patients. learn you these status as and our as I well say the seeing drug both on we're where

a dynamics to now, I think number you've going you've got certainly COVID, play now you right approved. avapritinib have forward, of got

as expect continue those factor significant and on that. basis. can we to current will to very remains all think So to that even I we need therapies alpha I an as would new in expect outside the see think need pralsetinib that patients that but those that both of in, I approval I of with mean, patients ongoing there, well of know PDGFRA demand, see So, that

the the we then be half as said, will course course, what our be generation Of the on really starting second the of for focus, I and team from for fact. to primarily year, for launch demand a perspective, focused a will and of pralsetinib that’s prepare hope

Marc Frahm

Okay, great. Thanks.

Operator

from Leone next Diane of line the question comes James. with Your Raymond

Unidentified Analyst

today. Hi, Dane for this Diane in is calling

set do he of all that the will Two advanced the mg QD is, specific encompassing back from how safety about the question to hand now of of SM supplies. a tomorrow. some across at on update. I to to AYVAKIT both to data you're and think for for SMs, a at you XXX a having update right to in the on and how going think GIST, the perspective I And be The you that was the for label dynamics mg approved Congrats dose more dose? how firstly pivotal avapritinib? that around think have data expect from be event the but lot a you update specific could me, had label rate clinical which have the more have have XXX manage a thrombocytopenia, lower us safety

could So better inform ASM? what see of think label the dose that are be FDA updates your clinicians? actually that for actual would thoughts we help characterize should And how you used

Jeff Albers

take one. will that I

could I usually, on EU indication that both at that a I description new fully bit analysis think section typically safety forward that also thinking integrated in we're expect similarly, is of XXX they looking little So the that would I have and have mg some well, study very it mean, laid get we might might depends U.S. dose, the will that mg added, a and would -- and so. obviously, he that cover at a yes, they the there's of but out supported here indications the labels, be sort on dose, safety XXX when

Unidentified Analyst

language from and included platelet perspective, that be additional on in symptoms and that like think you guidance updated? there other Okay, of or be would label management any count would the

Jeff Albers

SM. important of really expect be have they so mastocytosis, will description Well, have that in thrombocytopenia platelet guidance will be AYVAKIT have there with label. they separate before with get counts we to would think the with dealt mean severe we I think for on want a there that advanced actually I'd because systemic patients guidance I it's patients when

Unidentified Analyst

status Great. can give for second you And a BLU-XXX? one us on is the update me

Jeff Albers

health previously, started said the as moving study public an volunteer It's has that, site. the it's so along. human and study, ongoing we volunteer first Yes,

any don't figured pleased the could we think Actually So have it's I where really problem, things it that where to be that's was and the the I expected. track. out as and think area time, really has enrolling areas provide kept came I on information at where thought specific a we're this site COVID-XX but that but an together

Unidentified Analyst

Great, timeline you and not an have to update person going human or programs when given on results? when of a progress initial we see

Jeff Albers

we plan, Yes, haven't specific And study as yet [indiscernible] the but that. on evolves a given guidance not.

Unidentified Analyst

Okay, great. Thank you guys.

Operator

Your next question Michael with comes Securities. of from the Guggenheim line Schmidt

Unidentified Analyst

Good morning, quarter. guys. Schmidt. taking This questions Michael from on for congrats Thanks is Charles on the and the

First, commercialization with like avapritinib community it nice a on do guys the and respect ongoing launch, to setting. a emphasis impending looks have you

for could wondering EMR EXPLORER around just between [indiscernible] And non was to color only also, perhaps the but the additional not your current presence community what bring on and versus some GIST your partnership practices? that, I a in guess between potentially Roche I RET, potential So between this synergy example, could detail if some [indiscernible] you provide setting.

Jeff Albers

do you Christy, that? want to take

Christy Rossi

Sure.

has the as a ours So community upwards been treated of of that of a maybe patients out the And, gate. focus setting. know long we in of community are XX%

just our Genentech, the are so as focused XX% patient is back help and a about long talked those And just making of process I being sort really getting at that. out these piece and really think about for presence has prioritizes when a there, the it efforts. and goes the believe extend reaching we have plus we driving possible colleagues the that of as I just overlap I disease and also that of community identification that team, they team the Certainly, into centers they of really we our between data prescribers as the amplify think really that established to beyond of engagement breadth again, for said, actively think When prescribing could they about, have, compliment anticipation community, and see that that with launch. awareness I and our on oncology be pralsetinib as setting. our can engaging for for it's the example, that the approach talk think as sales And when of [indiscernible] efforts me, really for it critical. to an seamless team really for is AYVAKIT. I But way able then I being

not that with just but prescribers their that's and to their management which launching important are many and maintain pharmacies ability care to know them. We really really oncology also a is supports the strategy of something patients, we

And say approach. so setting. it's the really I a would to we're that bringing community that XXX

Unidentified Analyst

up, efforts do in and there's remaining potential potentially volunteers of not and to guess stay BLU-XXX next therapy longer the either related Thanks you SM, healthy safety ISM AYVAKIT will on a patients therapy. for it. differences I that that in kind signals question maybe as wondering future and resolving collection And of patients factor will see motivating my regarding symptoms a detail. just any, but on what and extent Got avapritinib to follow want also and could BLU-XXX that given they or I less be a for use see data from kind ISMB also supplement or term current to inform potentially even

Jeff Albers

patient's I’ll the issue so is period high any And and maybe days have really safety cognitive so last study of that the Andy, we healthy avapritinib -- to doses. time preferred really to is potential -- the the really dose for effects they'll real best is PK one, the not there I time short do establish for assess the offers stay seen the out. though a for opportunity that a those there's of they that there, amount starting when to limited have bring very need think is on study shouldn't that an we get think that

the thing [indiscernible] but it's issue, resolve, paid avapritinib, or happy can problem think theoretical less many I with or more to at moving into not doses. with more emphasize I Again, offers may it exist years the X a for emerge is then in though of even data those the kind -- we more We even there opportunity kind premium it's XX potential are certainly what more an there's resolve. what systemic the because someone been that's mastocytosis is the concern of where forms with that BLU-XXX milligrams years, possible just the maybe of over gets of advanced where very has about XX if suppose that and solves the and that still that not there BLU-XXX [daily] theory, the that with -- higher

it's looked intersection it made looking systemic very reach think way that. is going are position as know exquisitely just strategy extend our we're a I've of monogenic there. that in less clear driver at of at we more still this was I after at And And Andy very to -- a as that to our oncology develop double and with it on of a it's populations patient we've that level, this talked a a selective as the with strength. case, disease reach that fits about compound inhibitor XX So mastocytosis let's initially forward and position. mutations]. this rare from we our got [DA but down forms when if highlighted, In decision we this And before, we've and higher advanced perfectly made an it move targeted operating priority, and that we and BLU-XXX

it be where will needed. don't And so know we exactly

with by And now. milligram investing the XX both is be the heavily really strength continue doses. We Blueprint I and And XXX right that are data seeing milligram to underlies of we focused there. avapritinib there. We're emerging think of we're the highly what encouraged

Unidentified Analyst

again quarter. and for Very helpful. congrats the that Thanks on detail

Operator

question the Morgan Stanley. of comes next Your Lebowitz David with from line

David Lebowitz

had I SM With you we're I Thank I very to you PATHFINDER, issue? advanced incrementally and given if respect they difficulty] data year [technical was looking originally [technical guess in the us much. guess, for [indiscernible] recall difficulty] Jeff, updated past that data the last what you,

Jeff Albers

Sure.

we think previously. advanced captured emerging little bit the were up in GIST around which it, of is So where that the data a you of broke SM a and I but beginning, I reminder the

things of couple a there's play. So, that

se, adverse was the a the fewer chronic that patients set that important point in shown rates is waterfalls, treatment, the has in now the factor, as pretty objective two eventually. disease important. the about very different trials response it efficacy risk same most of and said terms or our rates. we’ve there data that's is a we control that, in not thrombocytopenia piece built the shown criteria But And but because aim XXX you're regardless We've dose with the events, is criteria First a as have of XX pushed multiple to from our clear towards have of with measure more to data thinking the to-date was forward with milligrams given we two we the we've there's and we've up blend then dose on per data here. strong were a advance about which of thing rates SM move a is at obviously, compelling the focusing really milligrams that The longer Regulatory across patients and seen when And who focus we milligram agree response doses -- exclusion way is nature high those went of trials there all profile. as changed identified then consistent of submission. you looking similar unusual more trials GIST response all been manageable was part what but and the you where milligrams, took a the if data it cut Part our XXX safety blended IWG for mean a profile, at -- safety we're intersection used, get like the two XXX of baseline [indiscernible] And dose. starting just of that patients into virtually so XXX will or response bit it's trials, -- will, rate all of are that They be with at so but Authorities. interactions starting emerged that we've seeing if But number XXX, groups XXX thinking we those same so X. emerge, milligrams for for to the homogenous, the about

data XX% shown it is, question, think part think what in we more could did XX passage your that, I starting where pity, is was anywhere to before we I set focus that putting which a I is that XX the -- rate. second show but on response in get to data frankly, sounds dose. as regulatory data something factor And forward. -- more that this time point at think, of lot [indiscernible] had to of I a a to that your as which XX%, on that view that percent exactly time is of was we're we'll there's but have function think the but is agency a was wanted important a we confident very [indiscernible] we previously, Yes, but enough at patients, of what the really response to more that be

nature think that there, for in getting And started. driver. lot transformational area a patients going is of continuum just is misdiagnosed. patients. disease a one it we're it's think this it back where is clear then again, is it's clear that we of there And these to an that clear really are need, I that PIONEER, it's with And

And we'll but And so our then patients to commercially. these there identifying be focused that clinical within both subgroups blend tend trials beyond the isn't this together. long-term, over on

David Lebowitz

taking Thank my you for question.

Operator

Your next JMP Reni Securities. question Benjamin the of comes with from line

Reni Benjamin

any the little guess quarter. a color the taking AYVAKIT, off, are color congratulations primarily setting, of just I diagnostic regarding accurate and in in are line then standard-of-care more or you last on can for talk receiving kind more these some good still or starting settings, Hey, obtaining Thanks they of morning, bit questions and testing patients? the just the sort that to majority receiving patients maybe frontline are the this the guys. provide

Jeff Albers

Christy, take you to want do that?

Christy Rossi

Sure.

a So, sort not insight perfect. again, is of basis patient-by-patient our at

launch continuing patients relatively quickly, came start So we're mutation and identified patients who that's to are immediately I and sort to see, what that PDGFRA was then think prior there saw other to can on treated to who I that AYVAKIT, bit we on, therapy a shifting I come been on, with with at patients certainly alpha PDGFRA had of we caveat, right. would, and therapies alpha going from being identified with I receiving new see were would those diagnosed often patients think what

mix in done of it's patients, and that's more So when regularly the patient academic certainly that done on earlier into a comes centers where center. testing is

takes might referrals get them there. to on often it You earlier, but see come patient

patients that I a being certified are say not before U.S. mix. that And PDGFRA therapies receiving again, the predominantly with diagnosis, at they're one would our in alpha it, that being identified so, often that still treated of it's but

Reni Benjamin

has there status And there extensive kind just to developing been so current still plan done the And deal regarding is was an have the Got.it. is But pralsetinib, review comp program? there an review. before think process a was I pralsetinib general sure --I'm regarding that? what's of the then of the of planned. now extensive

development as a when you think to might during have that we give can other combinations, how entire a mentioned sense call us program this I to the better evaluating floored? previous you as sense is you're

Jeff Albers

I'll start Sure. with that. This is Jeff.

and looking team The information just longer what plans teams how much both and Encouragingly, as of comprehensive as were all correct the frankly been recommend how Medicines, you're as forward. highlighted very similar. the a Blueprint the were doing working companies -- come prior would of clinical to is would already all signing started data and well in review together teams Genentech Yes, there of that that that sharing at development plan have and forward term We're The together. the the same. plans both the clinical have looking agreement. back already that commercial Christy, So looking looking obviously the as regards. are

through they'll the and the there's on several will of -- time, coming is Blueprint, about if also through things of are flow and I'm teams the of in were disclosed, the -- how that in work And through other opportunity then will that's would some with now so that have most much a partner, during is one together many and where to But changes we when that sequentially, doubt our condensing simultaneously. see update development of one terms but be terms no there will in do disclosed, we things likely excited it is at those -- we'll plan. now the how a collaboration collaboration, robust -- and to that done when

Reni Benjamin

final me. it. then just Got And one maybe for question

programs remind we but lot. are are a maybe key the overlooked can data which there's just of happening X gets I coming are have think radar the you us just Can help underway, like notes us, you other that think, a data pipeline XXXs, -- screen? my And out of Obviously, lot our on the what from last I should here. that programs are the X owned, ones? focus one the you on we think be important has the upcoming preclinical keeping wholly that pipeline

Jeff Albers

Sure.

and then somewhat combine resistance Day the are on that that line we programs moves target or EGFR the would on I XXX resistance being we've disclosed be emerge one would setting. first at the mutation year. into we BBB, it that So that have two last program R&D a focusing would double a

end guided year. development the up the So three having candidates of those to to are two, by we've

So BLU-XXX is one of those.

that very two updates we're for So that progress made programs have provide there's we nice development other having would thereafter. candidates feeding occurs, as and and

is bucket our cancer Roche. Another immunotherapy with collaboration

that preclinical in is additional there. we a nice additional various collaboration, undisclosed of that at their stages development. to And highlighted then there's grouping and progress programs So in one that programs programs at had in our in make remain [indiscernible] that continues undisclosed

overlooking that when I of that why with took lead together, that, area we so agree appreciate an lot and that's our and there's a all And excitement it's we fundamentally that the about ever announced the made. But when we about in that's when position I is [indiscernible] a strongest this, bit talked programs. think this and we medicine moment time, been collaboration

think new that for it fully a can capability. be We integrated build it's difficult how business. have now oftentimes, biotech overlooked to I

in that comes can in as those a pending feedback. think leading supplementing systemic think globally have That timeframe. bringing energy a mastocytosis, at more freed chomping biggest U.S. that us is the we therapies. to So profit focus earnest we've questions the and now up the in for for us our a in on that it our best it got We'd of pralsetinib is allows patients who But to be value also targeted a front underappreciated commercial what then and efforts on faster regulatory morning. the bit to to certainly resources with of now is it patients on collaboration driver this we one It's focus partner us. moving in more to then the to has Christy for long-term the efforts get consider globally, And with strengthen take when a we lot which that pipeline. team of really end, Out generated promising I net

where don't moments three a together by like many can of that, You strong simultaneously, backed all position. those factors and get financial come

over out there's a in I it's that to up And think coming pipeline, convince now us to value in pipeline. to got that a plan I So is methodically lot to you that years. think be we've roll there but that about excited the

Reni Benjamin

questions. for Thanks taking Great. the

Jeff Albers

Thank you.

Operator

Markets. up question at Farmer line comes from Capital George with the next Your BMO

George Farmer

that you morning. us the also, you could for advanced with Could all on and guys patients questions. data up what they how EXPLORER you'll doing of data ultimately both my the the FDA? data need you taking of indications? comment remind SM in moved order have follow long-term do in Part in secure approvals sort present when good on Thanks setting from And you much extension trial have X how your file Hi, are to and and to

Jeff Albers

of and things. follow that additional of couple be the start can a it'll maybe terms jump of So a so, with Andy so in I'll blend in up, then

year. is, One we last hotline late provided data So,

already to be just as been of somewhere had function you in to enrolled, nine patients a who expect additional it So follow-up. for six the time of months

on patients that new [indiscernible] also those. we've there's not course, Of

so have And we enrolled follow-up definition for late less the of would last a from think been top of line can't have enrollment So has it of perspective, them all last year. by those enrolled enrolled -- when been provided patients as many if that they will I that year. I or regulatory all been remember have

really that blend of of let's -- a in definition part time how together because question terms an response. long of which the they've second it component that response the is So -- is been then we'll from of in part follow IWG up of the of a And matters, criteria

Andy Boral

[indiscernible].

George Farmer

Yes. Yes PIONEER.

Jeff Albers

X Yes, which part of given so Adam, me well. continue into specific called those that of what's that long-term all patients to that they're we've and Part discussed, gone study do the but COVID from to data a have follow-up the they is study

George Farmer

are that then Okay, accounting you from question our Mike. incorporate [indiscernible] How into And from thinking payment great. Good. for about models? our the upfront

Mike Landsittel

Yes, sir.

we're then the then that majority that's provide recall, with -- will of equity recorded if we anticipate a of next a is will majority third a investment in So revenue getting auditors, that at upfront we what kind our as recognize million there's quarter. equity our payment quarter, working finalizing be the we're further we but also through the update accounting million there within you we'll point. and so certainly on sheet balance $XXX this stockholders expect a And of $XXX

George Farmer

to you on approval will milestone or can approval And filing pralsetinib a great. the applications? be whether comment a Okay, as coming pralsetinib of the as

Mike Landsittel

the of there's the but said Yes, deal specifics we think in potential on marketing you milestones. I the that near-term at milestone, related we haven't and of for announcement what if provided detail recall, approval million $XX a the is

about at the that. we're certainly And we'll just current probably so, leave and what's excited it

George Farmer

Okay, much. thanks very

Operator

Eun of the Your next comes Yang Jefferies. with from question line

Unidentified Analyst

Sarah our questions. Thanks for for taking Eun. this is on Hi,

on presentation. was advanced there mainly provide commercialization how's overlap, they on in need this just was the -- the like, more said in academic for salesforce? you treated could SM touched you some would are expand this? setting? you to the wondering You color earlier I would there And I

Jeff Albers

Christy. Sure,

Christy Rossi

Sure.

specifics what for an than GIST. with advanced hematology or primarily excellent stakeholders thyroid as treatment sort certainly to centers. obviously frequently which and be overlaps involved tends there or So, treated lung at academic different SM around The the is in centers of oncology, particularly we see

U.S., that of primarily structure advanced has them to an really structure. as beginning taken this approach commercial some we portfolio role have us. certainly have medicine and not since activities precision to yet launch exactly engaging definitely a a for thinking SM RET in prepare already and particular are plays we've about and focused the the a said, like We in year. And look that team And on have at across fact for the in that we been our I however, portfolio what to guided will roles

the a that we road. have as And that we to to be more very address come we it we we'll then, So SM as market, advanced approach nimbly SM evolve to how is to-date. approvals down expect able may as ongoing we certainly look an targeted on

Unidentified Analyst

thank Okay, you.

Operator

comes line Lee question Arlinda with next Your of Canaccord. the from

Arlinda Lee

first real Hi, patients encouraged your may have of tend have not I trials seen by to said in a rates resale questions, be couple the Christy, about and be U.S. that's clinical being diagnosis. but also you world what going guys, talked not you durability avapritinib that that in we've at as may on that

basis on of be So could second And of your and you the Thank question remainder and of product statements. maybe for salesforce would on is I'm current criteria please, of that impacts your additional criteria if about the outlining second of think the it mind year. Would additional those you. the prioritization your nominating kind color candidates? curious the nomination any candidates provide you my prioritization how then in you for – of how

Jeff Albers

the Christy, answer first I take will second. one,

Christy Rossi

been that to come So things. staying on I few have schedule said, -- who on on and a encouraged a -- patients therapy really have started in, am be refilling see avapritinib speak to we as I I that think to tend I and

see And certainly mix we I impact patients, been we metrics. approaches of on refilling the see all, expected. beyond certainly to dosing don't seeing a that is AYVAKIT patients at looking into benefit of real a patients, based a But tolerability understand as patients sort our of and sort think COVID of the persistence patients sure we've actually risk really of well see clinical clinical they're what are make I of sort as We attribute of a with focus And endurance. the [indiscernible] of leads key see profile. what profile patient negative PDGFRA alpha team. who patient encouraged to what individualizing and more we're that point that And have can a are on characteristics those world not First level management for visibility been, modifying perfect that that to see to we really to patients that and it's we patient of the prescribers dose appropriate increase has treating. we

in sign So you launch. broadly this on that's great well profile about it's for approvals we early I potential move the as to more as think in they've a SM. asset as And think me, also forward [indiscernible]

Jeff Albers

this I'm of looking Arlinda we're at bottom the the -- is Jeff, at that hour.

new of targets. But a has and diseases genetic that, library. we fundamentally one more those it's all targets we obviously that's one one chemical that opportunities address would programs. believe several where So they into terms to mastocytosis. to And a call. able discovery do that are where multi-factorial their clinical time our a select with pralsetinib matter it platform we what that ought but monogenic the is rare what and are conclude it grow was with type continues advanced just that cornerstone the Operator. programs that there's in we think we broad build in in reflected portfolio so proof-of-concept systemic driver, more EGFR question are to to And them be Day based a on or been of how from take programs, to is and are we there and where we targeted transformed have highlighted quickly targeted need approach get be relatively to the team I With then R&D hematology early in our with will a

Operator

Mr. turn At this remarks. closing to time, to call like I Jeff over for Albers back the would

Jeff Albers

it turn me. back Well, to right then it to you over turn

and thanks half for year. your Blueprint the us everyone taking and and the to And joining Medicines. thank busy So support going be continued it's you, of a today second time for for of

look So stay updating Goodbye. we you hope forward soon again you all to and well.

Operator

This conference. participating. you concludes today's for Thank

disconnect. now may You

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