Earnings call transcript Q2 2023

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Operator

Good morning, ladies and gentlemen. My name is Glen. I'll be your conference operator today. At this time, I would like to welcome everyone to the Blueprint Medicines Second Quarter 2023 Financial Results Conference Call. All lines have been placed on mute to prevent any background noise. there a remarks, session. speakers' the will question-and-answer be After [Operator Instructions].

turn I Cohen, it Vice now President begin. Jenna to to will Relations of Investor

Jenna Cohen

Medicines Good welcome and Glen. everyone results second Blueprint operating you, financial quarter call. Thank conference XXXX morning, to and

a morning, outlines the discuss release, topics This press which plan we issued to we today.

today press website the to Investor of our the release, the access going well can as that by slides www.blueprintmedicines.com. at You as we'll be reviewing section

Chief Chief Chief will Joining Fouad Becker Commercial Rossi, me Lee, Kate Officer; Development; Officer; Landsittel, Medical Haviland, also President, Mike Executive Chief for Q&A. today Financial & Research Officer and available Hewes, Chief Namouni, Philina are be Christy Operating and Officer Officer.

during the today statements begin, described Slide and our outlined in our uncertainties. forward-looking I'd X materially, call on filed to to as the cause may those we and subject actual of that risks like results SEC. number made differ with to some These a are you are Before statements remind of reports the including

place not obligation any forward-looking these and statements statements. cautioned reliance on any disclaims You're update Blueprint such to undue to

I'll the now call over to hand Kate.

Kate Haviland

Jenna, and everyone. good morning, you, Thank

of that only the approval significant for source. at entered In and we medicine new ISM. Medicines, designed ISM to specifically approved the medicine and recent their have ISM driven treat a and patients first with precision AYVAKIT quarter, With at we a was AYVAKIT, to the which disease, near-term importantly, call now its stop scale. era is second inflection opportunity This Blueprint by growth FDA

key on more and start Philina the The provide launch is great shortly. a commercial and results metrics off color launch to will

for that a at peak. early launch demonstrates in AYVAKIT we be opportunity more we days that billion everything the are seeing $X.X to estimate these is than Importantly, blockbuster of market

SM and momentum spectrum is the market both track advanced across this QX come. AYVAKIT the leader Our years has of and to the for on second become continued indolent into of year, half to durable launch

Blueprint extend we forward. have a deep define this developed us SM to enhance knowledge going and leadership of we Medicines, in of allow innovation direction as At our the that will area

ISM XXX built base XX substantive patients the clinical XX development approximately disease Through spanning work, nearly continue a of sites countries. to the of have spectrum who have allow SM meet of will our of and to alone, In globally have we biology knowledge we studied SM. at needs across range us patients rigorous that

Part forward long-term developing of sharing data treatment evidence from our We year. HARBOR study elenestinib and of to the are X impact we AYVAKIT and on this of look longitudinal ISM later

KIT and franchise leadership wild-type driven the SM, other has call. will very the pleased Fouad on wild-type oral which Beyond targeting diseases. our biology broader best-in-class nominated programs multiple the broad we diseases. we as a KIT this to opportunity expanding be provide have cell development are details as to build well inhibitor across program on with first later pipeline applicability more as candidate Today, a we in KIT we our are in announce mast BLU-XXX,

our But highlight precision to are I we how scale. at as of program executing strategy want this example an of

cell as a Our wide SM needs our infrastructure, us of and driven medical KIT which wild-type leverages KIT medical and work to patients with will technical directly disorders. of program commercial our efficiently allow address expertise range we mast the

expenses, Mike will while have pipeline. cover new into financial advancing a with using managed operate and foundation discipline by true revenue driving are By and advantage at mover through resources, has growth strategy we synergies diseases, operating leveraging first efficiently financial on quickly growing our capitalizing strong adjacent leverage. in our moving across to for us programs. enabling our Precision Blueprint is scale how SM we our and

true options our years disciplined as have to to utilize position, data-driven, to cash prioritize drive is expand and programs, most and uniquely over us opportunities. market This data scale. programs precision partnerships framework we promising build our de-prioritizing to at This value the pipeline compelling don't have or stay the coming positions that

a in across on year execution diverse Our of strong set the us into of for moving the half XXXX. half first success a drivers set has value this of trajectory continued second

be priority Our number with one AYVAKIT to launch the acceleration and will continue driving SM. revenue of

biological of targets to impact immunology progress have programs the and of globally. also allergy and important number we addressing our some large that pipeline the in While of potential most oncology exciting patients

the launch. to in quarter Philina AYVAKIT and to let few discuss on turn weeks over perspectives first Now our performance the it me ISM of

Philina Lee

morning, Good Kate. everyone. Thanks,

Our saw the exactly a us U.S. of saw the million, was of weeks net where be. on and We SM, The to put our $XX.X ISM fueled product the exiting for quarter by where in launch million post-approval. the second patients therapy revenue results $XX.X significantly AYVAKIT we grew the with achieved in in significant June of quarter first the want including We U.S. number in patients we approximately we on growth uptick few XXX

SM continues unlocks potential. AYVAKIT's key ISM blockbuster advanced grow, business that our to catalyst While the launch is

not Our due ISM our team. out be more gate. of are profile strong the results exceptional I to QX in AYVAKIT's proud and clinical execution could of

access. three with ensuring strong pillars across providers, We launch of engaging the our activating patients, strategy: and are delivering

the look strategic pillars of launch. these at driving Let's key each

seeing strong engagement. we're First, provider

and XX% evenly enthusiastic need and of immunologists Our field AYVAKIT. recognized confirms approval have providers split from new that on is benefit which unmet well seeing prescribers as and validation allergist great strong the risk teams SM came Hem/Oncs response profile scripts Nearly academic the Prescribing as including community, ISM immunologists. the allergist between was there. we're AYVAKIT since been is of and educating Hem/Oncs

the What we're seeing in treatment recent sentiments by interactions in with you've the settings others. teams of our overall field surveys across with daily aligns well providers seen

to want identifying upcoming improvement. appointments first AYVAKIT's symptom Hem/Oncs and through prescribe year. by on profile. efficacy the patients and linking motivated They're allergists the they to are compelled the safety and treat based AYVAKIT their ISM broad They're to

to the AYVAKIT their have opportunity a going new come consistent their expect discuss providers. and see We cadence and patients in starts appointments to as patients strong of forward for with

to beginning we're part Patient patient impact critical to driving of see on of urgency Second, prescribing. activation is a treat. activation AYVAKIT the

launch, Before unveiled community. patient our At disease launch, advocacy awareness campaign launching the awareness with to to branded we AYVAKIT. our grow thousands and database we partnering direct in CRM patient a just efforts drove people now engaging broadest of multi-channel of we're

AYVAKIT's is some patient have for life to make they've as a are Patients what described the hard ISM to their of ask they're loss more likely and to know about closest about to we're patients it to examples patients encouraged treatment. When living. initial An profile, leading calling still educated see AYVAKIT. live of providers a with ask hear we had to of their decisions provider catalyst to while sense highly

efforts. to expand We our patient activation grow as we expect this

and step encouraging strong. is no to indication. And to have be ISM, are edits. approved paid see access These AYVAKIT include continues which There early consistent to are written, updated no AYVAKIT's AYVAKIT the to beyond coverage payer highly this last, are and coverage we been majority as policies Prescriptions policies label for there being in with updated in The restrictions launch. provide broad of expected. the

payers. any seen XX and to at we yet of denials have face claims have paid We biggest nine the

had negative prior all is important experiences particularly to products. have who allergists may access other providers, with Strong

access of hearing clinical the they on also the staff we're educating finding And on we're their are has most be easy. only not new the access AYVAKIT, we're but when a prescribers So very profile and process provider AYVAKIT, process. educating importantly, that prescribed to

first the we've strong Overall, validates into pleased seen reflects performance have trends weeks exactly typically launch our we quarter the share experience don't carried expected. what July. just while past few close, I'm QX and comment initial of we to

right as have the scale the the capabilities our are to impact standard the in establish care ISM. right on team, we We of to right AYVAKIT medicine, well track and and

executing and are with it's our We reality. becoming to our a see thrill plan vision precision

I'll Fouad continue how development that, our and talk portfolio, research on KIT build recent franchise With our accomplishments about in it hand leadership. including to we to to

Fouad Namouni

Thank you, Philina.

large remarks, Blueprint pipeline medicine scale introductory our develop how we her a in Medicines the of mentioned with Kate benefit number shows as at to potential And precision patients.

of cell further strategy scale large knowledge position pursue on efforts. discovery mast leveraged precision biology We significantly our and in our to have leadership that opportunities diseases KIT

to pleased KIT wild-type we penetrant that are levels many mast first of and itching have for urticaria There in non-brain are is activation. inhibitor who people. options And disorder cell as controlled selective significant and am and potent relief nominated cell opportunity by not announce I risk, highly disorders, to for a few BLU-XXX bring represents well line patients by treatments. defined BLU-XXX skin a mast to high swelling characterized an urticaria. high development Chronic oral by serious chronic including

profile Blueprint first is KIT forward compelling BLU-XXX best-in-class and uniquely as its potentially to advantaged very a inhibitor. with wild-type bring preclinical

We XXXX expect look updating as in forward you more BLU-XXX progress. plans to on clinical and they development in clinic be the to

to insertions now our promising dose BLU-XXX combination This osimertinib as EGFR both we determine well continue exon escalation and differentiation mutations. and which and data escalation from we with quarter programs, for solve this to late-line data clinical BLU-XXX, Across RPXD. as first are EGFR clinical data we which we atypical our included for oncology Turning clinical studying with monotherapy dose presented opportunity pipeline at ASCO. past in of programs data XX for

has safety CDKX, year's tumor to ASCO profile which CDKX excitement treat most intractable around best we as that inhibitor in breast dose was wide this ASCO, our will biggest data and At cancer. showed combinable clinical the of new range data the this good molecule escalation One a and both be the suggest medicines such of focus class. from that immersion on become takeaways target the BLU-XXX the that can early this of molecule from presented activity solid

value be The with agent. BLU-XXX investigational of and CDKX an can the as increase this target immersion cancer the about clinical that our important validation optimism profile created

XXXX and enrolling next the the first combination program We in towards will expect share to patients CDKX/X The are the data. we major cohort. monotherapy in point rapidly moving inflection this come for combination when RPXD

see populations medicines treatment cancer these. and of approach plan large for large with target with of medicine that the can aims becoming best-in-class the need. that precision patients, one I major to BLU-XXX Opportunity embodies and on development developed having validation, our a the agent to at transform benefits of scale, number a of total rapidly worked patient's medical inhibition precision BLU-XXX for in-house bring selective to

Mike financial updates. With the call this, our turn review over I now to to

Mike Landsittel

Thanks, Fouad.

release. Earlier this in financial results reported detailed press we our morning,

$XX.X today's and few license For in net I'll revenues. and AYVAKIT including call, revenues total million In collaboration product $XX.X of highlights. on $XX.X in million, sales million revenues quarter, from were touch a the second

the As across growth in demand Philina SM noted, AYVAKIT continued we business. saw

compensation expense. operating quarter, costs marks consecutive which quarter second X% year-over-year last for $XX.X operating expenses declining and in compared our total to stock-based fourth the This or million flat the Our expenses approximately and were non-cash of year. second includes of million quarter a of decline $XXX.X

expect point For for creation half the relatively launch. to AYVAKIT what in second expenses we of we this an year. year, with at Blueprint inflection we operating consistent meaningfully the is the to with the first of expect ramp revenues ISM half saw value as remain

revenue to ramp As XXXX. expect in continue remain as cash to we expenses, XXXX continues be and into XXXX lower to decline to our and operating compared product burn we disciplined operating our to on

we of strong hand. us the the how cash fundamental strategic be a value drivers flexibility our $XXX.X to on continued million gives remain thoughtful shareholders. aspects diversity to financial revenue manage provide and to greatest in business in position in our We of all with Blueprint's

to highest of our development this to continued in allocation and forward, with launch in while BLU-XXX given Fouad and value investing we are a continue the will highlighted the opportunity do best-in-class financial priorities a position. strong drive ISM capital the and CDKX accelerating that's inhibitor Looking maintaining potential for expanding of earlier

to the questions. over turn operator the for now I'll Operator? that, With call back

Operator

Instructions]. Thank you. [Operator

We question Brad now from have Stifel. is our your Canino Brad, first open. comes line from

Brad Canino

we because you were for dynamic to for new and of that from morning, prescribing here. Good had were where ask commentary over the ASM around first they patients and I'd congrats had and mentioned think on the accounts Hem/Oncs XXX adoption new before the think Great. XXX you expected ISM actually like scripts XX% I there. results would've initial I prescribers launch

in rapid you. prescriber Any those? Thank higher So in was can And the before there into what use the can for that insight more you commentary you have preventing any might speak there that to segment? July segment over off-label be uptake approval?

Kate Haviland

prescribers? we're both Brad do nice of about to existing the Thanks, question. for you Philina, want talk prescribing seeing how and this new coming breadth from

Philina Lee

Yes.

of initial diversity did scripts I to some see really of starting Brad, we off, think coming pleased we not even from first this but the prescriptions oncology also the as the where only immunology. see the revenue expected, in hematology where First launch see majority were early of to are

advanced would think I And this the both and existing hematology think prescribing community continued across breadth seeing more to expected existing fact, prescribers, think prescribing oncology from SM I use so prescribers, seeing your certainly academic and from reflects from across use we cadence settings. foreseeable in diversity specialties we future. and that with of also the other question But for setting, bodes some very their well towards familiarity a skew about of are have the for AYVAKIT of the we and

prior use, significant just about to use, approval. question small I And we of not but off-label seeing were the degree confirm can to second not appreciable a the off-label part your

Brad Canino

Helpful Thank Great. you. commentary.

Operator

Brad. you, Thank

next from from Dane question Leone line James. is We open. have Raymond comes now your our Dane,

Dane Leone

for on congratulations a strong ISM. into the Difficulty] questions launch and [Technical

this end you to at patients on a second Street's of patients launch? metric -- your lieu that AYVAKIT And -- it add entirely into as somewhere what versus having today. around about predominantly cadence of models that month our that into that number focus just, obviously having the how forward of commentary to you. of incremental in the So that the patients delta think XX analyzing think XX July the seeing as And I generally, year XXX of formal third gives ISM various as for we of also metrics quarter? is maybe you consistent around ISM first the that be on you had coming around updated think a trends XXX from year, also And around maybe Is carrying add the you've the back the around quarter the half guess the the expand strong Thank today that end metrics guidance quarter. that in of the patient the updating going stated of fair the does us or first into of at provided.

Kate Haviland

think kind and in about Thanks, as have innings a little launch. what throughout numbers I Thanks. to we And we strong we've me first more think I rest mean, those how -- bolus let in we the that bit not we these of over terms and just growth to is seen that steady it steady of strong hand not kind the expect Dane. of have of Philina talk before, Yes. early a year. this you growth as did about and and continue to of talked see this seen

Philina Lee

clearest uptick that in and occur the saw Dane, June fact Yes, is in the the that we I think approval. timing the most of post indicator

we XX that gate, perfect distribute say out happened in can of that's already sort the ever of the what expect based the foreseeable something think to In that growth code see percentages terms and We starts due to steady won't that of early I ISM that new fact in I prescribing future. encouraged of were have, think precise we converted we milligrams. we of that bump that for channels through consistent there's into strong, visibility the one most June, to and really the would had the patients that off

Dane Leone

follow-up ask I one on question that? Could

Kate Haviland

please go Dane. Yes. ahead, Yes,

Dane Leone

great. Okay,

the with drug", patients metrics in coverage terms around having that be in with the commercial whether of discussion is the potentially Are also your for initial number been ISM of and so what different also and/or the and skew with Thank a Medicaid. have there or there launch going payer going XX launch? expecting seen that what you launch be this into were Going "free the Medicare it and patients expectations would trends into you. consistent scripts on consistent for milligram far launch the we've of

Kate Haviland

do ISM -- point, more will the the to expect really but but the side for it's this of question. Thanks early business, mix patients we in I commercial very the skew impact to at days payer of an that -- kind see

Philina Lee

a I some there're the ISM Yes, towards demographics, the patient younger it's think of on -- trend -- they based patients.

commercial time, over greater Medicare. expect sort to we see So of less towards shift a may

XX that that SM across question strength with the your a think dosage milligram, ISM. actually as reduction both advanced that I around used to with is clarify is well just dose as

question I about to mix, payer your But changes. no think significant

the unwound Regarding free in have a at we to had on seen did of second baseline drug, -- higher see by that has while we we largely patients quarter. drug proportion quarter first free what

Kate Haviland

So we'd year. consistent this point, through drug this expect the stay percentage pretty Dane free at to

Operator

Thank you.

line JMP comes now from have open. Securities. your next Benjamin We our Reni, Reni question from

Reni Benjamin

Great. congratulations and a I to physicians employed. great to guess Thanks have efforts for launch many here, mentioned, this month quarter. front a in had first get of just of able direct how questions are you couple been Philina, and taking during the on you consumer being

in talk long how mentioned you to multi-channel. be? it'll know take Can think that how for do I think and effective a about you bit will you like prepared what looks little the efforts you remarks Thanks. those to

Kate Haviland

that everybody? we've And been want to-date. kind of for Philina, that I with Reni. we've qualify to had pleased think physician the exceptionally access do question, engagement Thanks for and you

Philina Lee

Yes. the hematologists from really oncologists an excited reception well as to as allergist. We're enthusiastic both see just

to sort of even just advanced the the launch in weeks months nine the In several in number able or as fact, engage SM of of providers comparison. eight first we've launch, by similar been first

you've initial out as seen profile reflected AYVAKIT of team field by has extremely in our tirelessly as our I some as been in well are there The results think these So prescribing. well clearly working survey providers. the received

that looking the of information to all across providers including of when are out patient, multi-channel of our the branded rolling and so ask their ISM patients a lot much And likely channels will direct online that efforts about about for channels. AYVAKIT. campaign where more be AYVAKIT, know we are aware they're question patients To your patient to are these

we'll increased as so continued cadence result. And to be that patient and looking starts a of adding primarily new

Operator

Thank you.

now from next comes Eun Yang our line have open. question Eun, We your Jefferies.

Eun Yang

Does in is just for have to said a $XX the And be quick XXXX your you year? Mike. Thank R&D second you I to you. if should the you lower a for year? it continue was run And mean Thank correctly decline Mike, OpEx for XXXX. remainder would compared in revenue question the as heard on including will I quick rate another question million quarter. remainder of the the of you. royalties; collaborative use that that about

Mike Landsittel

Eun for the Thanks, Great. question.

Just cash so our that comment I the with comparing to with XXXX, burn. XXXX was clarify, made respect to respect and

So those as also over revenues OpEx with flat, seeing cash flat forward, last launch, -- remain that putting just burn. maintain we declining are that to a ISM we basically leads the together expect going see to quarters, that rise be to several strong breaking out, continue the our OpEx we

clarify So just question. to first that

we big due to this of million and respect about quarter. payments chunk quarter. saw With was collaboration in CStone to from that A revenues, yes, $XX received royalty milestone this

in over year, $XX $XX we million As million. to our we the year-to-date. full-year expect $XX said just earlier for and million collaboration we're between guidance now, the be Right for revenues

this expect incremental help collaboration our to I revenue revenues, guidance We year. of largely I'd hold remainder about to year. the guidance of think actually refer to payments But are on to remainder think by the going royalty some so just driven the and that we

Operator

Thank you.

next comes from Frahm our Cowen. Marc, is TD now We line open. question from your Marc have

Marc Frahm

Philina, in the for they're experiencing any taking Maybe disease just of coming questions of emerge of launch early the may seeing you're Hey, kind adopters? of level to and specific therapy progress that the that the terms severity, were so the symptoms the that far. on on patterns for patients who point thanks on congrats my

Kate Haviland

want Yes. on that you question, range Thanks we're for Marc. to seeing? of the do Philina, comment patients

Philina Lee

Yes.

coming the spectrum. be the as therapy we're more expected, think on we severe So tend to onto -- first that patients of as moderate I end we the to seeing were expected

despite are I so-called well are not think those the exactly as not medical we need talking And it hear symptom patients. patients directed or encouragingly milder is who think way so what that one these about controlled recognition expected. these providers patients of the treatment, we that into just also beyond we I controlled adequately see is

with broaden providers appropriate first adoption And so as patient. expand experience an of expect we the that will lens who's

Marc Frahm

and and but like prescription, That's helpful. days step-edits Great. things but very seeing then patients currently, you the in that, of things these not maybe terms a gotten out? and lot in reauthorizations quite And for that haven't working standards yet, what expecting of terms Okay. early months to you reauthorizations are of you're initial six like clearly potential

Philina Lee

to-date. the label, of really access we're payer have of Yes. initial any updated are encouraged see that right, the beyond overall think types additional the information don't label. all strong. I we any any signals I step-edits. mean, signs see of is that And mean to I coverage denials, already policies, we no certainly, metrics, And resoundingly the of strong to majority needed story or no don't attestation of really

Operator

Thank you.

We Goldman our from line Salveen, Salveen open. question comes is next Richter your have now Sachs. from

Salveen Richter

morning. Thanks my question. taking for Good

as think ISM, of Hem/Oncs we kind the to just prescribers just So request physician us coming but XX% is very And the next a Can through a least terms you'd SM about ford, in also versus and treatment like setting. has occur a much June where anything think lag us, or at but think the give no patient from non-Hem/Oncs you flog to of bolus, would coming prescriptions implying that trajectory from to kind uptick that in understanding of can we is the that are you I you quarter? office. when or these themselves new walk this into from has whether always us, in a there about of advanced remind suggested from as of this -- then related talked the are that proportion quantitative ISM are who's

Kate Haviland

for the Salveen. Thanks question, Yes.

were never visibility going who's perfect before patient, about advanced you who's code, So an the on patient. to single diagnosis SM as talked an have ISM we've with

both. Our are across strengths used dosage

look can patients June we step really so And mentioning, nice particularly by the prescribed a XX saw XX we Philina milligrams certainly and at being as driven was milligrams. up in

that So into the patients these upon are likely therapy ISM who is are coming approval.

end been so see take, on you quarter, end base think our growth can third of into can QX. That's of can I probably from now year the as in And lining the is at you think do numbers the year. And the see giving there. and you you end last some about I then can quarter for we've of math straight business now you rest growth some think coming QX, pretty patients straightforward and simple this of the

to And split to by have so else allergy you then oncologists but and anything both don't Philina, ISM not patients way add. are immunologists, I prescriber, hematologists, a know there's by seen easily if

Philina Lee

recognizing I want of confirm benefit the that ability is the Yes. sort excited, expect, readily to of really I patients the the AYVAKIT's to sort and to I that stepping ISM identifying about of what clinical think the there. just cadence find mean, they they're our think really mean, patients to question providers your I need to of we're treat. of back, expectations That sort are first profile just

it's appointments. from those patients that to able cadence to being subsequent that their so simply SM forward, And speak point of at

steady, strong, that, foreseeable future. on we and the for growth expect so continued would And based

Operator

you. Thank

open. We comes Partners. Michael from from Schmidt now question have is our line Michael, next Guggenheim your

Michael Schmidt

questions. my taking for guys thanks Hey,

dynamics now we've But similar new BLU-XXX end the as in of HARBOR question, from trial maybe cadence expecting a flow clear pretty that on of the upcoming at there a patient steady it think AYVAKIT with second just what a the you're in sounds ISM. I pipeline then quick for seen quarter. the sound like

bar mentioned sort you in need you to think to the see us high trials. to study maybe advance, in asset differentiation for a understand this asset help of but advance AYVAKIT in pretty advance this order from degree into I past the what

Kate Haviland

pipeline. And Yes. get we're happy on to a see and in Thanks, great question to strong ISM Michael. the steady the and growth yes, very

like take you Fouad would So that? to

Fouad Namouni

avapritinib community, ISM mean, Thank Hem/Oncs for the of you, is by patients. is chronic which whether the is in Michael. strong. really best bar very I one reception high good efficacy -- is treating The mentioned, safety as The allergist therapy. Philina physician the the the that bar profile given and is very proof

and the bar of -- with for HARBOR report how it. guided as are committed, we of from second very, year. ISM patients Part achieving the given very treating high So half is very the now. benefiting what the pleased in are X from data avapritinib AYVAKIT and profile are But again, -- will And we the this we we I with

Operator

you. Thank

Fadia Ami, next is our comes from question have We open. from Needham. Ami line your now

Ami Fadia

the Hi, what good looking morning. give target achieve another in to expect terms be escalation Thanks. you Thanks Perhaps to and in for you're we the taking data on give dose on and of you might a Can pipeline. one a where when are update BLU-XXX my question. perhaps an able dose? us us sense of

Fouad Namouni

is Ami. Thank you, This Fouad.

BLU-XXX cancer. with target cancer time. key medicine hormone patients been cancer think the a in breast personally for have this drug starting that I important I some positive breast see is becoming with of actually potentially that most one we probably for see development And

signal started that's It other including seeing efficacy profile clinical very activity. the of agents, It I is very able At good are profile BLU-XXX its best-in-class. with where strategy selective molecule. the it at CDKX/Xs. with combinable our Blueprint, potent to of makes scale, it a medicine safety make you a that has of and we Today, within look precision data class, highly when at has

recommended of and major I in determining one towards where for this we terms development, on we think very So the this Phase really of patients are the we for and good see -- development start very of are X hand. dose working medicine monotherapy potentially major

with plan with we be guidance cohort recruitment target give much quickly precise generate year. BLU-XXX CDKX/X really breast think data The mind. ribociclib for the is these We'll accelerating to we development second On cancer that. about We'll good CDKX/X is But includes really building therapy, breast to that other a data the background when I in line hormone breast data. combination closer CDKX line first next plan really cancer. and the and in that and on are the same more the very idea go to are of hand, safety and to in cancer able to combination talk

have that next is the targets with amplification, we in year. cancer we with on at one some in is of monotherapy endometrial oncology most and are the combination and CCNEX about. We pipeline, in do of looking the a that also particular, strategy carboplatin branch we do more come cancer that is to program probably that are enrichment too, I this ovarian development, a part where the in But excited think focused the

Operator

Thank your With our Mike, is question next Ulz Stanley. comes from now open. Mike line you. Morgan from

Mike Ulz

Good impact related Thanks a taking start and on seeing Thanks. Maybe when morning, launch if And maybe the just to the had might everyone. you happen? specifically there out yet. follow-up you're ISM and impact diagnosis to quick just question. not, that think for any launch has the rate do if

Kate Haviland

on you Philina, do want to Thanks. the diagnosis? growing touch Yes.

Philina Lee

the for Mike. Thanks question, Yes.

rates think advocacy see do to years, continually I that. past an the to think on longer-term as we've community focused opportunity. increase increase to of continue really the I those think growth rates the diagnosis I have fact through we're working driver been represents many launch. through That with And for important encouraged, over seen that we medium diagnosis we in disease awareness

Operator

Matt from from your our is Oppenheimer. Biegler Matt, now question With comes you. line next open. Thank

Matt Biegler

there, commercial -- clinicians Thanks but guys, a hearing Maybe trial that? hearing least any good for clinical earmarking for one headwinds at controversial you their other there's are out ISM trial the question. one, from patients morning. AYVAKIT? a advanced of more recruiting any Obviously, prescribing large over evidence of Hey

Philina Lee

headwinds. hearing No, can't think say treat I that commercially the we're I urgency -- of those types I of well available therapy controlled. are who I these with and patients not really mean, to

very be efficacy We potential seeing well as as recognition these think have to total, conversations well AYVAKIT's centers the of in I these investigators. with patients. But strong that need and safety treating providers and as excellence we're as profile, of

patient we have robust much, It's also I easier for patients. programs. very mean, much assistance

burdens. of kind or out-of-pocket significant experience not do patients Our

a able trial patient protocol a opportunity. to from more perspective, a is friendly be than participate patient's therapy a or commercial in so much access And rather

Operator

our Peter, is now next Barclays. Peter open. Thank from from comes line you. Lawson With question your

Peter Lawson

XQ Thank And treatment wonder drug, affects quarter for if And dynamics Thank changed by the and of you. update. free year-end. since I get about where you on your of Thanks just you number of if it's patients could talk ASM and you. think this expectations if ISM both kind patients. that of ISM the the then

Kate Haviland

the for Yes. Thanks, Peter question.

As the we has free drugs been around of historically said, percentage XX%.

will did drug as the time alarmed. completely the through that change same. in of the has expect that come We do free to more and be that have but over of year, ISM We through on, more that It this year. we course patients QX about continue course this expect benefit

that That's knew we that -- temporary why was for is that So benefit. QX a out in you we split all.

-- patients in that really the or provide we momentum continue commentary think ISM not think momentum the commentary on of of would launch the And was strong excited on seen guiding basis, wanted -- fact number we've but quarter, we'll patients, see that given We which at any basis, say very we've on to continue we that month given on a of the be give make nice QX. in last to of do sure to July, to quarterly that question see. results. indication through end I And seen kind update happy some strong quarterly really then But your one we're Philina of to to therapy some of kind made to you to a normally second type July. I really terms stick the monthly of

Peter Lawson

to Hem out Hem/Oncs you or non-Hem it able versus be non-Hem/Oncs? prescribers for you'd Thank Do you. break Perfect. versus think

Kate Haviland

Yes.

expect I So the that as the say, that as but is would to weighted grow more onto diversity really we've expected of year. to allergist said, initial to the the encouraged also Board the highly of over prescribing towards see prescribing encouraged hematology, come gate and we first course immunologist the the out of we're see

Operator

Wells Thank Fargo. from line open. Archila you. now Derek question With next Derek, our is your from comes

Derek Archila

Hey, taking questions. for good morning, on and the progress. thanks the Congrats

can mg channel ones to Can the And prescribers question, ASM it a yet do Thanks. you using current it thing that for biggest from XX just you the help the follow-up ISM earlier XQ? XQ not Just to have then just quantify change prescribed Brad's what's for inventory the guess, to I in activate of future in dose two brief the AYVAKIT us. from quarters? in

Kate Haviland

So easy of, there any meaningful this change of not the in terms at question. there, point channel an seen that's very is change easy. so We've

of I them. that about the a I patients Derek, ISM of And when this -- is talk -- dynamic you really about to AYVAKIT I Philina, not want but current is is This if mean, cadence there do see Philina, kind think honestly, prescribers? activating they then don't about

Philina Lee

thoughtful the targeting I targeting prescribers suite clear, and market of mean, SM think be our are are patient portion broader to is allergy just be and tools providers. only experience. where a Yes. patients really providers, that including much using engaging market their local data, claims prior based to moving into intel, I also to journey really immunology a that, with data But on of not advanced be who team engaging

And of growth that, out feel continued concentrated of of We're this to prescribing that the lead the of or for we were indicator centers. number to as gate expect We see continue. if in of highly experienced a breadth result prescribing encouraged this the prescribers expect differently so strong smaller very market. and signal diversity in a would would and as growth prescribing

Kate Haviland

have when patients therapy. clinical of next patient get on they things seen that, the first to set a experience one their accelerate today, And that Derek aperture physician really of we've and is a a widens the

a continued breadth for rapidly having for foundation coming So steady that very conducting point, growth. bodes increased to new with Philina's and strong is well on prescribers

Operator

Thank line you. is Lebowitz comes your Citi. from next David David, our from With question open. now

David Lebowitz

mg can Thank you particular there might And the how could ISM little and us dose patients for uptick reaching past very all you patients been doses, expanded has you what on the that? have question Understanding in patients that for to my an usage that in prescriptions give number of AYVAKIT the of on proportion are additional much launch? quantify that the Has dose changed? way question. use a physicians since XX for perspective taking ASM ASM any you prescribed proportion currently those and have physicians in one that out

Kate Haviland

Philina, how second Yes. have dynamics the to -- around prescribing. talk also on want the physicians experienced about think do AYVAKIT your been many David XX are you experienced already question, milligram then dose? I And is

Philina Lee

Yes.

of So comprises start the that in patients now XX mg I as we're able to new said fact the think our doses most through we see channels.

have are think as are I said part the meaning experience. we who AYVAKIT the remaining of second XX% to XX% had again, your question, prior prescribers new prescribers,

I I think that we continued bodes breadth of from be the the we stepping are, success back what by prescribing encouraged for launch. all more just not by think sort where of that of could the and

Operator

With from our from Thank is you. question, now Baird. Joel Joel, next open. comes line your Beatty

Joel Beatty

to takes since if how payers thanks ISM question. launch? remarks, it typically denials. taking it's long have the you any to the just yet mentioned for prepared discuss at make decision I Hi, all for Can In you the think and that changed that you

Kate Haviland

Yes.

continues thrilled but and the the speed the think Not smooth to strong ISM. of we're ease of open for So seeing. been AYVAKIT, access through case I the point be the with I level that continued think through strength also the the only throughout -- We're and of continues incredibly launch. that access has the of process process,

Operator

you. Thank

for it Kate further have pass remarks. line. questions on no We back to now closing the I'll

Kate Haviland

you, time join Thank the us for everyone today. and thanks, to taking operator,

us progress everyone update We their our on Our strong and significant great the of look and a forward of continuing upside provide to for summer. year-to-date launch through results has this course for we move hope a rest foundation year. growth as to you we

Operator

and Thank this Ladies you call. you. joining. concludes for Thank today's gentlemen,

disconnect You now may lines. your

Blueprint Medicines (BPMC) 2 Aug 232023 Q2 Earnings call transcript