BPMC - Earnings call 4 2023 | Blueprint Medicines Corporation

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Operator

Good morning. My name is Drew, and I'll be your conference operator today. At this time, I would like to welcome everyone to the Blueprint Medicines Fourth Quarter and Full Year 2023 Financial Results Conference Call. [Operator Instructions]. Thank you. begin may you Cohen, your conference. Jenna

Jenna Cohen

press Drew, Medicines fourth you, operating to conference issued discuss and we the XXXX good Blueprint to results a we morning, Welcome today. everyone. call.This which quarter plan and outlines topics morning, financial Thank release, and year full

Executive begin, the statements Kate to at going and of with Philina You those Investors to to Research risks Officer; Hewes, can as as section are are our access may Haviland, www.blueprintmedicines.com.Joining that the some be a during Chief Officer; we'll you made of outlined including President, Medical I'd and Chief of in Financial Becker like to differ are also release press Officer; that line on Q&A.Before the on website Operating the me forward-looking Mike filed Officer. the are the remind subject reports materially, number today reviewing Chief described call well our Commercial and and Namouni, cause Chief as slides results the today available today X Chief Lee, Rossi, Landsittel, by statements, SEC. our Officer, Christy actual uncertainties.These Fouad Development; Slide we and during and

with You forward-looking that, statements.And undue obligation I'll are call statements, hand to any update cautioned Kate. these to now not reliance and such on to place any Blueprint disclaims over the

Kathryn Haviland

AYVAKIT longer-term the this to our us ISM.As indolent invest XXXX morning, of approved our drive are on or with firmly year, growing foundation our the and and only we Jenna, thriving focusing also on you, first transformational medicines the future.To a launch pivotal we additional business. revenue mastocytosis to aspects achieve become deliver goal three enabled with early enter the continue everyone. product.Our brought systemic for in pipeline more in compelling to good a to to be in successfully growth Blueprint key even patients medicine path AYVAKIT year becoming opportunities our of AYVAKIT Thank multibillion-dollar putting as was momentum we will business for forward XXXX, Medicines and the

she'll across with the most more on our in and hand of on of address similar a primary to multibillion-dollar being the notable this $X our and why on million AYVAKIT continue pace durable this XXXX, Let's more and than patients new performance pointing This about Blueprint comprised compelling we dividing now future one detail the over a in This drive We in a launches And are SM of increase opportunity start the compelling next is our chronic are year. have and months XXXX, primarily in starts patients greater longer sales results revenue will AYVAKIT in the today. past steady ISM of of first in exciting launch the of product, estimate both U.S. few other and EMA and believe product we reaching industry who and for to with is for into towards greater well all clearly to FDA foundation a beyond.I we know very drive drive with happening nearly patients market.These a very why since expect and ability and six and was building also have the and approved AYVAKIT's rare coupled the launch double population decade. demonstrated billion. patients focus a to on on growth SM putting we than now to months, all December.AYVAKIT's drivers ISM, prevalent have trajectory additional revenue, than surface.In new alone.Today, sales of now efficacy patients important sales importantly, patient growth we pleased similar XX are therapy scratching rare similar and as achieving a as is such next XXXX we on medicine this trajectory this the that XX in first-in-class just revenue Europe the SM, of growth.We similarities is AYVAKIT the $XXX we its our XX% Europe $XXX trajectory of to in revenue that patients AYVAKIT growth $X first greater the establishing launches AYVAKIT peak And yes, need is over disease nature global effect driven strong uptake revenue ability by with AYVAKIT's the profile, it ISM for in potential billion.For $XXX that citing safety the significant blockbuster Jakafi, and piece to Soliris driven a mean ISM year quarters our sales us we medical to to compelling with been for are Philina attributes reach new $X.X revenue million, XXXX. peak with we staying in critical at to XX% launch, an opportunity of approval our go U.S. and disease QX of with ISM, call, in patient the into durations provide million strong billion. disease guidance before you cumulative sizable to are for past rare that for approval XX,XXX

our build very patients near significant to our about pleased sales and urticaria. larger peak that sales that deal wild-type decrease our on and market, record that program Fouad to the particularly development financial need, and into made in disciplined where a Blueprint.We billion.Now, a update AYVAKIT portfolio minimizing capital compelling let's will commercially clear talk SM us that allergic now impact and second will is the significant diseases with targeting focus. an portfolio.The and progress than be continue into Philina, be GAVRETO number to area of stage programs drive the of immunology clinical the Cash at success.Next is be fully Allergy, our third have space. driven by area translating the management Advancing available is are our mast a able strength future mutated science depth exciting in in Because our while area KIT for in $X chronic targeting maintaining an at operating to to in driving inflammatory same our elenestinib, what in more that mast will cell KIT by to insights as been KIT Asthma and focus And U.S. research financial commercial finalized.Now, most large the approach patient that achieve growth in in to uniquely of us priority impacts is diseases cell of We long-term will balancing our to turn our the with I'll be opportunities go commercial mediated significant success trajectory strong investment focus that position. durable about a year.Later potential biology, are a global for fundamentals to for medical taking starting of be provide our programs go to the way. Last rapid for to we targeting and will our financial optimize Quad in our month, and an excited growth advance to more at a that continue cash with week, central scientific diseases. positioned play we continue a cell our have greater expanding conviction development we covering leveraging we in mast and science operating that diagnosis approved our showcasing in this and probability see detail infrastructure.A focus large expanding how this who biology D.C. investigational the you combination how important AYVAKIT development given burn early cells XXXX. of quickly and areas as say therapeutic business to ramp needs proprietary year to driven this strong our medical discovery look will believe on fundamental of diseases through AI, profitability of updating and on has known of led will will a more a novel results into of will underlying to has area high BLU-XXX huge expertise to path XXXX we to once are with role. much address result has strong time our in meeting, disciplined grown the by Quad will our is which to to expenses, and To today, the our impact and and I hand in we mast sit AI, our our BLU-XXX.We investing this and I'm enable beyond.Mike in conference at a this expertise revenue this shared in here the and performance. opportunities our typical U.S. largest leadership track us KIT. end, And deal which on well populations. to we are move portfolio based Immunology Washington, stage, near we sustainable presence are higher historically year, also underappreciated.With on we Blueprint area will place than core into of targeting into as on also focusing in as Academy Philina? in play to primary the it importantly, of on American call, allergen Now, opportunities.Business And allocation forward over

Philina Lee

setting quarter achieved net dose.Starting discontinuation quarter-on-quarter million in at patients product hit goods, million several therapy. U.S. in driven with compliance. we're if last share reflects this the is into to and high XX-mg milestone this patient the free QX.We're in with growth. growth on XXXX, see focused revenues we're by a Thanks, growth factors, thrilled $XX.X this to another January representing and X,XXX guidance XX% $XX with the more in grew new early on Kate. rates AYVAKIT continued strong with potential.Our encouraged than would XXXX December closer see $XXX.X hit growth come the to the a of we XX% decline in year-over-year We we of was X,XXX XX% of AYVAKIT by majority over driving strong driver million we're revenue U.S. $XXX in as continued revenue year the in growth looking starts at and patient million revenue AYVAKIT's patients expect in approximately that This starts, Today, were major demand million the or We year.Fourth clear and get new range steady coming realizing revenues midpoint. our growth January, to in to launch, the of on ISM low blockbuster we assumes guidance milestone $XXX the key

on inherent and going We a place, those the reflects guidance away fundamentals namely, free in With number. we're fundamentals. starts, patients goods the range providing in our insight to international from revenue, into performance.This quarterly our move compliance, have good new driving now duration, therapy patient variability

We how to is on at commentary will persistence. continue next the launch progressing.Looking share

of grow is on and all strong days, to needle early chronic expected we've ISM ISM a low launched nature of in signs And point surprise the with AYVAKIT's patients persistence discontinuation therapy. approximately the We durations on rates date.What's though therapy been the our even the to and goods high share, as compliance clinical disease. we profile XX% extended it's to based moved on free upside how number quickly of dropping

launch. We have just reported our our ISM from of second revenue strong quarter

multiple across drive you growth in why strategy we market. beyond.Our that me expect sustained this and in commercial sustain strong grounded continued tell is paths XXXX this execution will in growth to Let

small direct-to-patient near start for AYVAKIT's symptom diagnosed up in directed well awareness it drive a a we're more chronic there clinical all patient is to captured are on know our controlled chronic of AYVAKIT, is marketing of half expanding than seek growing, across well this U.S. specialties where and experience nowhere Today, the fraction Once not duration patients prescriber market preference settings, alone, we're positive saturation. ramping base we've therapies.We treatment.The SM are activate XX,XXX far. about market First, and patients patients and therapy.Second, that further so sticky. is to and only and we're bodes

settings.Breadth at profile academic and among to AYVAKIT adoption adding patients. to is the see of concentration more We and curve.You SM motivating strong more the where and in early happening unique prescribe as allergists among we which in allergists top prescribing who can see receptivity the about prescribers XXX X,XXX seeing exactly shows we're community both HemOncs on want providers are AYVAKIT's AYVAKIT, we're the of chart top the this SM left, the

important indicator are to in experience the is for providers grow expected, coming breadth of next with continue is lead or in to providers appointments.Breadth two, the an beginning leading positive started and three see depth we first of We in scheduled long-term already AYVAKIT for more patients green.As recommend prescribing to therapy growth. on we're their who light the patients of here darker also who prescribing prescribing green, have to

with patients see signs SM at cumulative growing of grow habituated both anyone to are to disease better with point guidance expect launch.Over understand here to in impact from attitudes capture access highly their entrenched for about our to this to else. to and to I'm and is underlying depth urgency market.We disease what disease, polypharmacy rare of of to drive activates of early prescriber breadth driver and AYVAKIT. prescriber patients and are that directed are address they're and market quarters a motivated away the to in prescribing We about seamless performance today, providers launch. treat, action.With patients That's than time, early What great the more and take seek to see patients disrupt encouraged possible behavior so base, move and the to together what's how what and activating behaviors to tri-therapy control the two ensure we making providers.We symptom treatment pioneering our and this innings designed and influences the prescriber ability confident of headway providers we why the drives this strong

are Quad capture AI. We we from share expect blockbusters, Fouad, we've what thought would of deliver.As we're we other Blueprint peak $X the you are disease launch that, billion.With trajectory it Medicines opportunity we delivering right be, rare I'll exactly where what over seen said can from to on of to and AYVAKIT's we we hand would to track at

Fouad Namouni

Blueprint to Science and SM, of mastocytosis, other extensive in diseases.With expanding how of our biology, many lead the standard ISM mastocytosis. repository a root the are ASM.At of Thank will we you, treated of AYVAKIT and are Philina. also with is at available only an we PIONEER management innovation prescriber in to uncover experience disease of knowledge Blueprint driven have efficacy systemic the network With from option prescribers frontier leaders establish insights the and redefining whom SM of Quad not more built AI than to SM academic SM we oral mast XX to of in years into data two spectrum cause disease across as and long-term only presentations care journey, Medicines, but our patients' cell XXXX continue and will posters, systemic seven treat the from Conference. The Medicine safety broad the

the a PIONEER from elenestinib our in in we levels Additional the The KIT diseases, with lot as for experience We robust, of outcomes key cells well-established path AYVAKIT data to high regulatory is a next-generation a differentiated pipeline. coupled well-tolerated clinically are expanding meaningful measures very now us to SM, there polypharmacy.Turning DXXXV-mutated of and gained drivers and are inhibitor.We core many improvement generated franchise.Mast our see profile. our SM safety inflammatory with include where medical recently extensive evidence across elenestinib-driver presented potential those allergic part need. real-world reduction development build development data health elenestinib, enabling will with we from for a symptom data showing still and with

and asthma our models beyond. or cell It and wild-type supports of as and on therapeutic activation biology targets development building preclinical compatible underappreciated for properties has our criteria. the our it will therapies also drug once all a been Blueprint industry.At into develop mast that the that strategy BLU-XXX we potent for KIT profile met vivo presented in first Medicines, expertise more oral their exceeded are daily time diseases on identify selective, profile has BLU-XXX, cell inflammation compelling in cell-driven targets diseases.Last in variety our However, of key is often month, role a show and of highly with we administration.Next activity a inflammatory detail to mast we mast for of on the in week,

are are CDKX/X looking and pursue validated goal we the the cancer. IND negative our HERX is potential best-in-class it a cancer of profile of will in Blueprint track a window the has year, of a inhibitor, medicines tumor second we to quarter the and are the on most development. therapeutic population we BLU-XXX move on with a a in pipeline, target in and part selectivity.Our survival. our clinically programs to context advancing We an value for submit with to BLU-XXX, is partnership.CDKX broad to prolong BLU-XXX the then important very that forward have hormone-positive, patient solid is study.Finally, that we encouraging cell this an clinical to combination Medicines SAD/MAD breast breast large driver one of initiate CDKX in exciting with with one approved patient impact

Mike to of this engagement the program that, will review a range potential updates. I with our partners, call financial to conversations those have productively.With continue very and We significant had turn over on

Michael Landsittel

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

year $XXX.X on net million, full touch million of fourth we XXXX, these collaboration million were product to recorded AYVAKIT that full I'll the highlights.For $XX year, in total AYVAKIT of revenues from anticipate and product $XXX.X in we were call, quarter.In license Of $XXX revenues, million product net in in few including a $XX.X AYVAKIT achieve million today's revenues. sales $XXX revenues and revenues. million revenues the For net will

that opportunity in before what of other capturing expect any consistent AYVAKIT first as to observed and reimbursement growth, what investment and on pricing guidance to We split we not as approximately the U.S. existing we with launch collaboration in in be Germany countries peak path ex expense accelerating XXXX our expanding is XXXX illustrates are will in we revenue negotiated.Today's is the is profitability.We revenue This do to path $X XXXX. billion. coupled focused discipline from AYVAKIT's revenue material with anticipate collaborations U.S.,

year as investments wind offset our programs, $XXX.X R&D EGFR commercial increased related vision anticipate expenses partially will path termination expenses our and for will significantly gain GAVRETO for plan for the our are drive expenses the in date increase million and significant operating that no and the maintaining will continue in to the we agreement leverage and XXXX for were as operating a XXXX.Our lower collaboration and increases expense down our Kate full of plans BLU-XXX.We continue overall decline our GAVRETO existing to to SG&A diseases, decline million for shared our Roche.We result $XXX.X GAVRETO a for next have by to strength expense to fourth early-stage from to expect to an at operating financial Blueprint. our forward coincide to update cell-mediated quarter. specifically with We with nearing month, U.S. programs the We wind in in in mast week infrastructure provide Roche we expect in in and continue down material year-over-year revenues.Last only costs the impact continued total for small clinical

million reduction prioritized plan in cell early focused a we the allows XXXX, provide in investing research these as exceptionally position solid continued diseases, value.Entering we also operating efforts a capital portfolio kinase that expenses allocation $XXX.X in financial have drive that for areas strong have and longer-term long-term cyclin-dependent towards opportunities with mast We implicated tumors for spending while cash. and an believe around in best ongoing are by to built mediated growth.We durable opportunity biology

expect AYVAKIT commercializing is medicines our that cash are portfolio of to medicine first burn our a as further we status.We XXXX, to We the like and operating way high revenues decline advance potential globally, best-in-class in even BLU-XXX. blockbuster growing on

clearer, long-term questions. generate that, solidifying back now our our turn Our Operator I'll for pathway financial to profitability over call ability and to any to profile is value.With the the becoming Operator?

Operator

question first Canino from today Thank Brad you. [Operator Instructions] from Stifel. Our comes

Bradley Canino

quarter. guidance got And description this It hear great the its coming about then approach on guide then a viewed you what here. believe a team And be overall Congrats of the opportunity? would into follow-up. I've to now represents the how

Kathryn Haviland

appreciate Thank take the very We much. really on want do you Brad, that. you guidance? Christy, question to

Christina Rossi

Brad. Sure,

the like that we've those informed therapy that important think milestones, so everyone this year.One launch. through months two performance. therapy, we're Philina have cetera, factor external increasingly those, starts, reasonable is as free patient into new of now said, duration Kate under AYVAKIT. strong we and variables a based now et other this communicate, with on really reasonable understand patients a is quarters base can we an we then drug not have are on becoming walked two for product.We we a quarters putting our expectation we two revenue out of we we rates.And even we foundation this see those so, of like are of help XX full of as are market is that have that also this And what et revenue growth those quarters those a and And our in chronic strong have experience important cetera, a around So, of trajectory as which sense drivers incredibly and driver like belts guide, ranges like understand growing which of for what that very what things set compliance, factors some for really key understood the revenue variables,

in impacts some quarter many where and we're that in, gross through of And pharma often play talked dynamics those see a around are of quarter-on-quarter compliance, know QX things as for example, how that, you we et cetera. go to and the about, understanding seasonality so, Philina will that in QX.We the one is things generally,

very is very, So, think this quarter-on-quarter a seen at the we if we $X factors that revenue growth very if also will we that compelling important year.I AYVAKIT. again, we're the with ramp aligned back much it about pull represents other clear understanding how as that guide the more than towards disease play on, is, is through XX% are that those with look the launches. think you road in And thing very down much we've year-on-year trajectory marching we are rare billion peak.The trajectory is what for

strong there so, saying is feel incredibly in we're been with demonstrating the each place very an opportunity SM. And that like much and quarter, we in we've

Bradley Canino

And on how key then two? you a activated that were execution have the to But remaining of got that only patients proportion ask to I helpful X, one steps in at majority is the visualization replicate to are what patients? minority want of AYVAKIT. to which the And of very one Slide disclosed three started two that or going where accounts XX to are that practices

Kathryn Haviland

about . to want you talk that do dynamic? Thanks, Philina, more Brad.

Philina Lee

it That across Thanks the on this that providers of playing executional and settings, has strength real-world And or I experience more to leading growing that really so with out have that leading the promotional experience our two the accounts.From and how targeting what's profile both as what's of an to can these across split forged well signs really they in represents of it's strong and their life of prescribing patients, ground. positive and brings that providers highlight benefit, that it in the AI the focus Yes. who strong the point Brad. relationships specialties AYVAKIT's the of these further possible and simple community. our efforts would start with receptivity.To standpoint, it's the therein, prescribers early deepening patients, to patients. AYVAKIT number as to as volume our team greatest analytics with amount these in with an put SM breadth the the of and repeat is prescriber see question, are the on providers that academic first data really greatest that see strong for and of We're as on both top seeing team encouraged inform HemOnc, all well is launch even

Operator

question from Salveen from Our Richter Goldman next today comes Sachs.

Salveen Richter

on data differentiation pipeline, the you following in demonstrate X this see on relative the we of Two BLU-XXX trial going will portion?And from II the then that is AYVAKIT next for II/III data the Phase the the separately, How program, the trial. event positive ISM, are Part portion in in of key asset first Part to to in the CDKX half.

success Just the other versus what walk us CDKX and for through here inhibitors. your expectations, you benchmarks present the differentiation in

Kathryn Haviland

high to of the they And being elenestinib, for very But AYVAKIT over sets bar. I'll our really we're core a a hand it very, performance Salveen. how look question, you long-term Fouad. the we before, Yes. said overall maximize franchise. going And have of to at we Thank as SM part

hand way. to I'll going we're to Fouad talk about an innovative to elenestinib bring to in So, be able how over forward

Fouad Namouni

in ago, questioning. terms We symptoms for systemic Salveen, the in you, on few elenestinib presented ASH at Thank patients improving put tool, validated robust a a indolent with a of weeks with the TSS very data activity mastocytosis.

tolerability very showed profile. good and also safety We

it this We'll Phase to PIONEER. of Quad the show from is meeting. solid scientific and are, some II at we continue gain upcoming AI information there.We So, POC very

information have real-world We from evidence.

elsewhere.So, to together together what were in they really gained few what these a in we on will you prepared Europe combination the we I. escalation reflected combination, the from CDK put but is believe robust X/X medicines. the items see from not regulatory perspective, think differentiated registrational be the I and strategy we're put my also strategy for a focused also all very happy the on question, We as We're patients will this I that the elenestinib experience and develop not in continuing development are to XXXX, our in now, notes, Phase States study XXXX, in the mostly start mentioned only ISM a United I in with years think dose the back being in as CDKX a trials.For

be the show all positive, and efficacy the we combination will HERX really of and we short combination drive can cancer, go together.The of and the that that ribociclib hormone combination to BLU-XXX this breast data the and the the combine the is there long to the goal profile safe to goal that negative from safely as is We characteristic presenting and with safety early show term. will

So stay from the tuned data for study. VELA coming

Operator

Our Frahm question TD Cowen. Marc from comes from next

Marc Frahm

of then kind to that? XXX to more more opportunity per in on the of of Congrats the franchise out implies more the depth been related to breadth sense existing growth of you added side, the patients But opportunity the XXX, trend those of Maybe going at to that, maybe versus being quarter the like has versus quarter. expanding what's a of deepening per right kind slide just maybe kind of patients XXX. prescriber, what's prescribers?And the from of many the midpoint, the guidance at can XXX give that recent the the yet kind all treaters like

maybe guess, you So, these? of can square kind I

Kathryn Haviland

also just the Thanks, guidance. going to points Philina. to about hand that I to reiterate some the I'm made Marc. over Christy of want

We are months into the launch. six

about have line specifics? do of trend created comparable the get incredibly an the guidance excited the sense on you a we're a opportunity of of some some ISM to products that revenue, for We continuing really see us this have rare that full to But kind compelling to we're seasonal year and just markets. not want talk dynamics.And puts Philina, of had of disease

Philina Lee

Yes. Marc. Hey,

to SM patient top look So, diagnosed SM represents. of about as by the well is in about at question today.There collectively, opportunity the substantial these this both seeing breadth XXX When your that XXX. sort as depth grow treaters we top X,XXX volume, within to just they're patients headroom already

like prescribed XX% the and only of and how fishing patients growing these repeat beyond XXX the the AYVAKIT So, they're positive to curve leads symptomatic And access look coming providers clinical first in of when over exciting next broader severe sort penetration AYVAKIT, top.You they're sort benefit, become for top for recognition we we opportunity to of in that with think leading also at patient, steadily of of substantial see see we And to yet range penetration the will broadening accustomed which also with prescribing. the experience of about that those sort a about of as more to is They this that as this then, segment and allergy lens a on that's and process. they patients. start the for both talked again, And green are see have time.It's type identifying within in typically treatment. of their AYVAKIT, growth familiar deepening.

alone. this the think I as so, second and for this continues potential a accumulate XXX XXX not to the is story depth.To over per growth there sort And take your question, quarter time, significant on we breadth see is, part both to of of

therapy at for quarter, Kate is important doesn't patients, how on to, month-over-month, the the a these therapy that tell We're will highlighted patient think of limitations this we've a There's duration happening, are as it duration disease. those be patients when the of of end contributor launch.It's we're quarterly starts forward alluded I learning what those dynamics. much early. more you variability new in as and going rare every

the comparators taken mentioned, pack for the think AYVAKIT. pleased we other probably at trajectory blockbuster to that think so, Kate of is within first that well factors And lens opportunity as the been take moving with realizing average, Christy two that breadth opportunity a just to they've together, like of the on towards guidance better as look that when that highlighted.I are we're a revenue really that quarters. we're well contributing blockbuster that And I

Operator

next Our Ren Benjamin JMP. from question comes from Citizens

Reni Benjamin

prepared Congratulations remarks a launch Can online the you revenues. will to might bit impressive talk just take a actual doing you've the the maybe billion $X to you the how now the about peak through countries how about you come How long think selling?And peak talk start about guide. coming know And on quarter of the Europe? is revenue? more a cadence and get I in trajectory but mentioned what maybe just do and contribution us Europe? the guidance little great it of as talked who's in Germany, the can even you in from follow-up,

Kathryn Haviland

questions. about Yes. want peak, Ren, do Christy, both you you to actually? talk those the for European, thank

Christina Rossi

Sure. Thanks, Ren.

European So, holidays, the being the great end patients as was which in of year, last we even that even see knows, the see. everyone Germany approval pleased saw treated to before to before and we through to were come I think more ISM pleased see

of and in that's really primary of be to market due ISM.Germany cadence out we're ISM is the to the So, Europe and going pricing this year reimbursement. the driving gates

percent markets launch going that come end from XXXX, expectation of kind underway.My yet expect about certainly we as international, grow as gets encompass another say, more range the think So, you online, to U.S. the is, perspective, robustly. as into to that would does is that's guide at revenue that about sort year.I contributed we're very if in be thing start our guidance probably important I revenue actually next to of but range will other it's a same the if to thinking of this the think general the AYVAKIT, variable the that towards continues and roughly look business in year of international

launches, that often years is what drive time that saturation expect thing sort a or assumption a plus XX-ish and terms revenue that looks of for or are So, to These markets the lot I that varies, time there to to trajectory AYVAKIT launches. think Blueprint think other minus I years is on I The in never X then right? X is come.One there peak to like those again, peak, growth bad clear is. and relationship to to is Europe.In it peak the think disease within about interesting very I a often time not think, probably peak we're to flattening. mentioned up percent several between rare about for Kate are a of positive peak

peak to grows of HAE, just about the the underneath like Jakafi to have continued also continued billion.If view look talked our So, drug because if we grow grow $X at to at the opportunity peak drugs market you Soliris, you even up or the has those launch. and kind look markets of coming

move the wouldn't And as happens. we peak so, me to It surprise we'll what through if see of continues this view our launch. evolve

Operator

next Schmidt question Guggenheim. from from Michael Our comes

Michael Schmidt

had on I one BLU-XXX.

As development overall about from that we potential sort bit of a head are towards biologics about you for for Quad inhibitor? talk oral how the AI differentiation KIT? see this do opportunity wild-type KIT development next wild-type for in week, a you And think how

Kathryn Haviland

Yes. excited Fouad, more a talk any you, We're Michael. do really if Thank want and bit about BLU-XXX. have about colors? to that you little you

Fouad Namouni

Michael. you, Thank

inhibiting to having your to have very today been by using proof-of-concept see first, a with to I KIT So, say a happy first strategy monoclonal antibodies. question, wild-type I'm achieved

POC the is there. So,

we as inflection wide-type CSU there and in that my BLU-XXX think important small SAD/MAD urticaria Phase shown as to safety induced my in all that KIT, Now, chronic II that, will in a SAD/MAD. profile and The opinion, to in will very X and others inhibitor our or from believe a the to some highly is very us is type selective, mentioned as X most opportunity gather will will and a remarks, cold we which compared number as run been know. inflammatory asthma be BLU-XXX very the the simple safety leverage promise already and mast strategies. a inflammation.And very earlier this superior a is all data have flexible is point thing we the type has the POC that, important. believe.It it inhibition of in After the I MCAS pharmacology be cell and But I be inhibition or I drug the potent we of in could studies, BLU-XXX give, is key been in wild-type molecule have PK wild-type overall, to now that and administer I started strategy CSU industry, really way a data.Beyond target in spontaneous underappreciated has be knowing KIT urticaria, overall such of disorders for

depending the and will, up dial an need down for can think I diseases. oral at we that patients day, the of the end on like their agent

Becker Hewes

biology with orthogonal very Thanks, currently to to and of true instrument about of and antibodies an is directly we thing in the I that needs titrate we a wide of a mast address a This remember asthma in right different number BTK a solution how spectrum mast remember address think question approach can thing to I using of cell, Yes. KIT. eliminate lot diseases.And blunt doesn't really might the compare of in Fouad. disease each KIT being what with patient different thing which about you Becker. to think to the these one a thing. so, population I that a to are active is wild-type don't or a inhibitor or or inhibits most disease antibodies, an we're BTK different antibody are isn't methodology. driver the where and of even and just but tunable might with the the it's manifestations add developed.And want like severity the that one get other go tissues whether lot this is what cells want of levels mast really is talking the is degranulation, the these that approaches, these activation patient diseases.The population cells. is And that

is these the of KIT really So, heel Achilles diseases.

Operator

question today from Our next Archila from Wells Derek comes Fargo.

Derek Archila

the results here. on Congrats

questions two us. Just from

talked about You rate an diagnosis of kind increasing ISM. for of

increasing think terms any just still discontinuation rate do there? I in for we out you're seeing? a are I So, just quantitative in, guess, current think And, estimates patients might do the on you be as I'm what additional inning the kind slow then of number of diagnosis rate?And the color guess curious, follow-up, you current of

Kathryn Haviland

epidemiology. that with have over the at the or Thank size we nice substantially market, the less continue in will this advanced smaller updated you, manifestations SM I innings Derik, Maybe intense starting mean growth for given disease.And seen next predominantly in just epidemiology those it diagnostic is of really the very patients SM ISM, of questions. to diagnosis grow of early of set very we're because a years. understanding We've and that anticipate we odyssey, just the on JPMorgan.

as seeing we're prospect disease the part AYVAKIT? how future other about in such seen rare of and the do you want becoming value to we've Christy, So, Christy that's big what durability talked talk about launches.So, of a

Christina Rossi

patients bode really for We've Derek. the out AYVAKIT, has high. to well contributor experience. early in playing see as really add but which patients on positively staying we of cumulative while of terms really to Yes, is to the more at been therapy sure, a patients more chronic going impact really pleased been growth low that we're discontinuation launch, continue Compliance real-world the of rates, adding therapy launch, going clinical And be very with substantial profile the to this duration more to in and AYVAKIT.And and in the duration point revenue forward.

Operator

Our question from next from Laura Raymond James. Prendergast comes

Laura Prendergast

big Congrats the on to today. beat Very exciting see.

two me. Just for questions

thinking from education so visits?And driving from patient question the is new you routine BLU-XXX awareness think think partnering you as then franchise, whole these the up and on are partnering guys degrader patient more during what it's my Or about CDKX the next gen is side Do brought CDKX more the First, at guys the second asset? you about partnerships, this starts? you JPMorgan. or so just is, providers the focusing

Kathryn Haviland

talk drivers starts? you do will bit around want Fouad, CDKX. questions. we new Then you how see those talk over Christy for of hand Laura, to to it little you, about thank the a about development to Yeah, patient this

Christina Rossi

Laura. Yes. Thanks question, for the

stakeholder launch as ISM the targeted would that resource-effective doubled oncology providers.And to way. allergy know the and with shared them AYVAKIT, embarking in that's grow, of doing for That SM. We about about honestly So, obviously, the shared we HemOncs there They're to patients proportion significant we which on AIs. increase of what who in our excited the AYVAKIT, decision-making have from headroom about we And of we the that opportunity by the hematology, see significant going on excited expansion very more that, better to so, about engagement. We've the more we're were learn engage JPMorgan disease share grow awareness, AYVAKIT made with seek deeper the really coming that In adoptions.But Initially, strong give information, a and control.And promote that. in of advanced as breadth entered the increasing is experience drivers, to gate, of an we're available to and should these on look can of growth been how say, our our was driven initiatives much the in Based direct-to-patient where an are of awareness to deep options I really patient-facing about is with also it.But majority patient provider providers. that motivated. and as of And and of earliest disease prescribing.So, need really their to very them so front. we've as date, been part prescribing. encourage disease critical activation, date, a this headroom talked initiatives. has to of in they're I more what's a with awareness growth well. almost said.To some we even of of that patients activates provider say to are the days, exciting immunology type them this where speak here, some They're well chronic with new patient out with that's their shared already to some HemOncs year, early key we're a lot really and are of knowledge

Kathryn Haviland

are also therapy, And as impactful patients with experiences on to year. that's who've this CDKX? who today, Christy, thing patients we and on have that from we are X,XXX considering we going chat is on patients to that in other patients, And we're are see to some talk been is the as here to estimated you rooms around see think add patients impactful X,XXX therapy is and the can therapy. over patients online, want hearing nothing we sharing where just as who the I'd now a one be it U.S.And patients connect I about very programming who AYVAKIT do and which formalized more that

Christina Rossi

Sure.

right? have going as in of to different one, to we of of breast open a think target in wants is amount cancer a has be on But to the target. those for be a different exploring XXX that focus that the lot going think as conversations important degrader and at possibilities and So, significant a conversations I from there's our target, there. now company said, perspective look have clearly platform I market you in been part certainly that's player addressing any modality the to be this we that forward.The a interest strategic to also a incredibly could a broadly.And approach BD of asset we essentially interest really and next-generation

how evolve, to overall the So, open our of maximizing different the franchise is goal value but see we'll in structures, certainly collaboration really conversations these totality.

Laura Prendergast

to we And just more expect on when see information this, can degrader platform?

Kathryn Haviland

that? bit Fouad, do talk you want to a little more about

Fouad Namouni

happy the are we our very degrader that We on progress platform. with made rapid

degraders as and more of clearly, that may the that the will And As little give ago. CDKX other number Kate only think in JPMorgan at cyclin-dependent really X will the more information. in time we years space, closer Conference.I iceberg CDKX share guidance degraders shared are a is treatment ready the And you to bit our cancer. kinase the get key line this of remember, of degrader, road, good than we targets the that this you targets some we in today, type and and started have down tip development. of a mentioned but We see we we

Kathryn Haviland

other one I work at doing other our looking quite and bit thing mast in is, also we're too cell think targets mast a the cell-driven know I to I as of release, press it and mention And in we've said well. mean,

tuned we as on that move forward. so And stay

Operator

Our comes next Morgan Mike from today question Stanley. from Ulz

Rohit

XXXX? on just This thus you're ASM the you your you Rohit talk of to any XXXX you about attribute about guidance? breakdown can How for then do Can And seeing is talk Mike. versus much far for trends ISM?

Kathryn Haviland

I'll I this we're the that, experience say about pharma with Christy, a is our Yes, that one ISM. guide? where want XXXX few is the in Christy thing QX to first with weeks dynamic you take mentioned, often you here, mean see do in

demand teams year are guidance? days.Christy, do both appears that. talk new We'll the from through very just in underlying we're about and So how -- out. But existing see to want patients the plays very strong this that early really, working you

Christina Rossi

Sure.

say So, as revenue we have all break us many out times, you don't by indication. heard

clear is is revenue as it's it's capitalize We've relevant However, growth just that ISM a launch. seeing we're the we're right? I our trajectory think well is thing growth, that The you highlight AYVAKIT.And revenue on, pleased patient data from and billion coming inflection the upon for seen first driving to two look And clearly opportunity were ISM Kate January. the of we quarters at early mark I think again, if as growth than from point that one the would really at that, X,XXX $X the way coming of imperfect I at continue sort XX-milligram looking of shared that highlights expect in I'm that new XX% we would really into are to coming starts the but which on Philina more are this QX. our dose, it, obviously isn't we in said, future hit ISM.And

cetera, experience, in be do seeing compliance, cetera. to that around in terms starts, surprised think QX patient these chronic that certainly, et previous growth if of other seeing.There's we faced markets.You of in often we're the wouldn't dynamics, our I especially hits types that to, continued that immunology launch, dynamics first et I demand copay in So, speaks my of we're quarter certainly, see net new and

the at one, we'll the how a year. out, but plays if of is Obviously, you the all just part through challenging often QX only we're more dynamics of So quarter-on-quarter look quarter. that way see for

Operator

Our Biegler comes next Matt from from question Oppenheimer.

Matthew Biegler

granularity of docs us well. Congrats more that think I GI allergists. continued us the and to quarter, the And as prescriber from we contribution Like, well? mix? XX% as new dermatologists last figure around give on of increase? also, scripts has what's Can saw you from

Kathryn Haviland

we've to Philina, that, is that immunology, really Thanks, pleased for Yes. been grow. I contribution prescriber do has from target mean see which talk you to us to that? Matt. continued a key about more want allergist

Philina Lee

Yes. Matt. the XX%, It's Thanks to allergist contribution mid-XXs. question, continue see We for the over now probably growth. the in do

completely and hematologist primary well been They're you treaters and be derm where really play derm and the GI XXX of I that among think specialties. immunologists the and that community talked would AI, by we're focus base attuned AYVAKIT previously.We're and as symptom motivating likely they adoption the has try really academic to at diagnosis the a comes do allergists setting. adoption, disease-modifying we to from prescriber example, ISM I impact had oncologists easy. our it in and multidisciplinary management and much of in allergists prescribing see the look is experience, HemOnc that's whereas about this standpoint.For among role specialty, prescribing.When excited that XX% a a obviously also the promotional and finding very as to important and XX%, most an primary They're motivated top And drive patients referring when is quality to say on be care. focus GI, continues our are more to option.Among of really date the these dominated to are derm repeat to GI, our to life

of these sort patients. help of And other to so, educating arms we do identify specialties have

Kathryn Haviland

to actually, team these been be of other right so, who opportunity be full to finding the it's future. group focusing dermatologists are part add but we're and the the patients' oncology on of have a our to here medical but tend kind of here effort of drivers to medical has interest Just allergy the kind and CSM they've a done and this patients in going of as actually foreseeable immunology those point, SM, to making sure journeys.And hematology, job great Philina's for specialties that, some an really

Operator

comes next Needham. from question from Our Fadia Ami

Ami Fadia

square as other to patients trying my quarter, be strong you in follow-up think the away add that and had than on seems and And me to variables what guidance. little It guidance a on had quarter added are what congratulations guidance a over fourth the about implies. the Let implies what I'm we treatment? roughly is I you should we XXX I of any from the quarter.So, more guidance. But about? some assumption about think thinking to variables regards are some per sort patients other should in discontinuation patient X,XXX variable we there XXX of of What's of And the January? how important about? be of should be duration And thinking your with patients adds then that had

Kathryn Haviland

Yes. Thanks, into Ami. bit? Christy, dive do you want guidance a to

Christina Rossi

Sure.

continue to inputs Mike think much with of you forward?And and we're I is launch that that. there's that of would of what into earlier. There's starts that could imply to of And with we're guidance range be you about steady, of, So, say range.We're a variables a the variable a guidance supports Ami, are could obviously does cetera. similar done get we know our talked then in So, of those these that get people And patients new here, thinking I durations like, not of that say asked our prescribed and discontinuation a the consistent years. assumptions extended percent for the taking couple think that adds at each line X,XXX number those what about question can multiple think about sort kind therapy both kind we we've going have of probably which you are free international I new on more if experience discontinuation right? drug impacting to that scenarios launch.So, et foundation probably have the of rates, of on seeing, like key patient very looks things rates that is that. And that But set quarter, of factors our compliance, assumptions first certainly, there, been one what to patient very on safe assumptions. those Blueprint the depending play some what's of to quarters is really than

format kind of quarters reasonable informed really around and each where on then you think got assumptions of the of ranges foundation is to about of the our things, guidance that and so, last that started assumptions was of based And two range. we sort how and we the those experience.That

Operator

Peter Our Barclays. next from question from comes Lawson

Peter Lawson

revenue that essentially 'XX? the beginning be or XQ of during happened that anything XQ, of in kind there that Was view GSM changes the flat should

Kathryn Haviland

no. just I time same color. a growth rate that have you answer just months for the XX very, I it as have $X for a now. Peter, consistent. steady that is mean, very That just I mean Thanks, for Philina, even now growth quarter. long is we the more question. very as ISM. it. know about if It's million But is contributes any not said have in That quarter-over-quarter been BSSM consistent mean continues maybe period we've Eddy. to of I

Philina Lee

no. is The Yes. The short launch Peter, answer, flattening. not is

guidance XX% our the over growth positive. very that leading being think signal indicators clearest with I at the and of that of all midpoint is

Operator

Our next comes question from Colleen Baird. Kusy from

Colleen Hanley

Congrats the progress. on

docs volume about So, past based AYVAKIT. the XX% I have you on prescribed think talked XXX of

XX% explain start haven't, what the hurdle AYVAKIT? them? And you can that what's those been to them convince of in for prescribing docs might So,

Kathryn Haviland

Yes.

in dive So, here. Philina, you should

as like the Just for codes.We as milligram said indolent but between since been we SM distinguish physician proxy to can't clear some approval, can't looking on that's at to diagnosis time we be that. we're Christy them to see other generally, really look the the pleased imperfect in -- or that, to just we're here track Philina, trying be based do as advanced an -- and dosage SM at XX ISM

physicians this if to? I who So, So, looking Philina, if QX, the is right? have been since really know want don't QX and at prescribing you

Philina Lee

They they're broadening engage really next of Thanks have that for for conversation with excited their of the personally factor. are able have grow visits question. with group they're market at having as are both among launch, the providers.And would that beyond is those risk I strong. actually this a They to patient group profile, excited about this all motivated. the and this of a haven't.I awareness to the this penetration AYVAKIT's patients cadence, say about timing all we're as room adoption is indolent engaged those benefit is This say, And so, SM are would and in within to point, Yes. to in providers. waiting well who group that early critical very really into have had come a the these where when conversation. and They to XX% number

Operator

We Ms. I are the coming and back hour end the call the on you. over call. going to Haviland, turn up to

Kathryn Haviland

to Washington, and you you at time Thank you And we I many in in look questions. thank term today, here, you, the near taking seeing want AI to thank forward of Operator, D.C. to Quad for and the for join you all us your

and we'll have see you soon. And so, a day, great

Operator

That call. concludes today's

now may lines. You disconnect your

Blueprint Medicines (BPMC) 15 Feb 242023 Q4 Earnings call transcript