BPMC - Earnings call transcript Q2 2024 | Blueprint Medicines Corporation

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Operator

Hello, everyone. At this time, I would like to welcome everyone to the Blueprint Medicines' Second Quarter 2024 Financial Results Conference Call. My name is Bruno, and I'll be operating your call today. [Operator Instructions] I'll now hand over to your host, Jenna Cohen. Please, you may begin your conference.

Jenna Cohen

Bruno. you, Thank and Financial everyone, Blueprint Second Medicines' Good Operating welcome Results XXXX and Conference Quarter morning, to Call. today. This morning, topics discuss the which release we issued we a plan press outlines to

well can Executive as reviewing You Officer; going Development, Investor's www.blueprintmedicines.com Joining website the Officer; Mike of to press Namouni, Kate me Chief the release today Commercial and by Christy also the and that are we'll access Landsittel, slides be our President, at section Financial as Haviland, Lee, Operating Q and Rossi, line Philina Officer; the Fouad Chief Officer. Research during and Chief is on Chief available A.

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

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

Kathryn Haviland

you, Jenna, everyone. and Thank good morning,

that AYVAKIT's exciting marks as full approval AYVAKIT disease path own the makes clear. U.S. than continue is new delivered our of another company a indolent build as expectations of disease execution. we we one since revenue billion one peak greater the launch And today of a out each At year, launches revenue, rare exceeded that very opportunity a have $X beginning yet top most systemic one quarter market. This mastocytosis. much we rare the as to to priority milestone, happening for quarter of the strong this laid year our This that is quarter AYVAKIT's

benefits, are for with changed multidimensional is as also SM, multibillion-dollar and very SM. AYVAKIT treatment opportunity paradigm targets patients over across of stay tolerated, and medicine reception adoption on AYVAKIT's term. patients source AYVAKIT the well in unique payers while AYVAKIT we importantly proposition, conviction Our value successfully a positive to that the durable seen being on the we patients physicians, based long market and the of offers a and deep driving enabling

with the half we're patients of on in detail more under driving drive a now have therapy, our based on these that therapy end more launch raising full in we As how year Philina few will we will guidance of patients strong a of effects a this driver will number our discuss the of range and staying increase growing experience commercial performance minutes. With revenue year. of we year year. performance cumulative this a ISM factors of be beyond. Today, and the our on business, factors the significant revenue confidence belts first this guidance in will our on in

phase there prioritized expertise our in can and infrastructure need cell is patient research drive disorders, and Medicines. large areas to driven medical we leverage and invest of just potentially revenue surface long continued the we have who to on patients in treatment that drive reaching scratching the growth SM started and And AYVAKIT. our of where the in where mast value term, enabling populations, benefit development, focused next We inflection from expect will Blueprint sustainable the with over us AYVAKIT high with could of

to call. core a on date portfolio biology entire of our clearance KIT initiated wild-type across are our have and our to to believe cell will diseases impact the across BLU-XXX received we study. healthy volunteer have for by We number has the later potential BLU-XXX, inhibitor, pleased review mast I&D targeting the We KIT. Christy progress

continue scale in patient important to financial growth, of wave the we of invest by pipeline address in the even therapies the revenue profile and next medical that a With AYVAKIT, flexibility opportunities, our larger financial have innovation, foundation line revenue from growing compelling sustainable add needs significant value anchored out. With color to and top and have Medicines. opportunities we of we Mike for I'll Blueprint the that, to portfolio in commercial on and financials building more it our our next to performance. that our will will over Philina close as more creation detail drive this turn wave

Philina Lee

by AYVAKIT In Thanks, in $XX.X Kate. U.S. in quarter, this revenue and the capture including has net XXX% product ex-U.S. million reflecting as $XXX.X we year-over-year, our the unique disease strong opportunity. second grown achieved million AYVAKIT more $XXX.X than million execution revenue, rare

positive patient across starts the was quarter. in driven And by in mix. discontinuation our and team free goods and upside continued growth fundamentals: international exceptional patients U.S. business driven on our compliance, trends AYVAKIT commercial had rates, low Second an in key quarter new versus continued growth by high

closer take quarter for business see expect to of Let's the year. a what look we drove what our at this and the rest

AYVAKIT, continue steady year. patient growth rates. base a to continues low over We've discontinuation prescriber pace are driven new we first by grow see the and starts patient starts new patient of from that consistent of and coming AYVAKIT on half new First, expanding These to and in in depth. patients seen breadth starts strong the an

remains therapy important increasingly to also profile in real see Patient world. compliance discontinuation patients an This treatment. growth is of how AYVAKIT, drive clinical in on Once a the be PIONEER continue out driver and our they're will to patients playing continue base over further duration reflecting rates strong, compelling We time. in therapy ISM. consistent low on staying the multiyear with start of

just goods reaching an Second, free free favorability share another was goods launch. this source since strength of of ISM below XX% quarter, average

AYVAKIT the paid Part as the increasingly the half patients been in significant of more skews mix patients Our ISM strength has share of source free and on first the D of enabled as to towards has therapy. a year access redesign goods IRA

we strong have launch international U.S. playing the in in our our Finally, trends seen are business. out

for settings. in working are launch AYVAKIT to Germany, the where our academic to be expect international across getting the additional through through Our our base our international ISM important own and growth strong we to ISM underway performance contributor bring is footprint prescriber countries growing to is distributors. We're and driving team forward. going XXXX, started And business in and community market in with both both global just an

has strong, Our growth across this conviction never and our performance blockbuster key been drivers stronger. in year-to-date opportunity has been

most across but patient German important free of a and the business, we goods, for rate revenue be at understand the will could the impact of out and on negotiations, second we seasonality, timing the something start, the stabilized better, strength we a industry, will of the of Patients remainder long a of on anticipate time. for they'll year, of year; and steady As the pricing they'll half if, when things, annual it our impact seasonality, enter remain end impact starts; keeping that is And across our of we're has not we the of believe like are eye we few expect common also AYVAKIT. will we that once they continued at a share it's part which there, the our and on which question that don't performance. it start finalized we now expect year. The know stay

and on As we and to year, focused we're patients breadth enter increased of the of driving seek activating depth prescribing half the second treatment.

at Let's look next. areas these

all prescriber growing the growing of lead the depth Prescriber including across base. to Prescriber continue we and mentioned, I prescriptions. first positive to depth breadth is steadily breadth AYVAKIT experiences allergy. repeat as specialties, expand As is

Cell Patients symptom are more further. Building is activities, flares initiatives that for providers patient they conjunction to a trend For to with success each past the firmly durable that long-term first experience AYVAKIT. Long-term in quarter, efficacy work, to been patients get for patients, alleviation, the life-changing, Trying meeting, of for month. a of AYVAKIT's burden Spain, of lives years to that hearing at treatment multiple providers. ongoing other patient-to-patient time ISM change. What on profile, key very our and we over launch sets clear AYVAKIT, first data. This our the program underappreciated it. year their path showed that it a first MastCellCon school more new to Disease AYVAKIT safety sustained for with we first started feel is and need of be beginning on and triggers. full symptom patient prescribers to the appropriate achieve this powerful, enabling are this motivating patients activities, we and other dialogue to why and control that series, to with in patients. In of educational on can with their highly compromises. is incredible see them accustomed broadening with tell ambassador of we've several we deep redefining This and Mast unpredictable again. often until seeing the opportunity and and a key recently to view year highly EAACI prescribers well-tolerated step and is a scaling them show treatment. The make profile to our helping therapy a living the a clinical of of enable this with of we're And closing, ISM. strategy realize part AYVAKIT. expectations with is patient lot than big we our limiting $X better. disease patients see follow-up Throughout medications quarter, for that good their family AYVAKIT and now about than data an change daily been by in-person is safety billion XX living of launch has made virtual is we're But symptom-directed AYVAKIT which firsthand return don't avoiding sharing chronic experiences us of in their how after they've who and is launched to and have are they're are leads the with they who's to patients sharing starting Society's experienced ISM impact Oftentimes, Patients continue reducing successful managing conference was ready taking last

have We and We are need. the education understand patient and and proud the journey, step medical of and every commercial the providers effort teams support forward. our of patients put

well turn working, difference. patient activation both strategies that see a I'll and compounding bodes it future critical of provider and effect growth. With AYVAKIT to and a that, are Our experience is mass And Christy. a over making nice for creates we

Christina Rossi

Philina. Thanks,

speak the are growth innovation against to addition I'd like at to the And milestones. AYVAKIT wave next our of Medicines. focused today, continued progress Blueprint In portfolio the we on launch, driving about of XXXX briefly and execution

in amassed, have next start position we patients, and patient have into and innovation Let's cell and impact. experience are franchise SM with is we us we the this unparalleled elenestinib and and of committed that physicians with and and are a our our clinical data opportunity, BLU-XXX. Through of multibillion-dollar disorders the leadership frontiers SM of the we mast eradicating market building our extending with AYVAKIT, biology unique to further depth towards of disease. move insights real-world the goal can engagement

Part advancing been study. HARBOR to elenestinib, inhibitor, have We next-generation the X of the KIT our DXXXV registration-directed

to track of on as year-end. we will are our X more about initiate be we sharing We plans. Part by do, details HARBOR And

inflection to into that I'm today healthy to eagerly our supporting mast important the efforts achieve our proof-of-concept a and from initiation wide biological allergic study with rapidly early volunteer the happy an next and program, of to with patients inhibitor, addition, urticaria. We our cell can KIT a of hypothesis In in and this the including beyond we bring anticipating reached we've therapeutic for of a initial diseases. We've data inflammatory wild-type in range BLU-XXX year. milestone data us enabling and are tunable point mark our share moved activity disorders, broad BLU-XXX, range to clinical clinic an suffering important window believe that establish could

target of complete is and targeting cell conviction cell with treatment is in Our context more of will regulators installment cell clinical efficacy, full the of optimal the this BLU-XXX is in approach our patients that And a cancer with planned our can what key inhibition by inhibition, the on us R&D validating share CDKX to the these focus data cell the treatment disorders of considering for to fall. Mast are breast administration. next the importance forward pillar our raise maximize of our as to the this the second series patient gives burden scientific and cycle the ongoing. safety is BLU-XXX cycle bring second the webinar generating cycle target discussions of achieved frontier combination. We in the of partnership that bar and And development are we we about the are experience, disease-modifying associated the a transformative potential in area goal believe in offer, strategy strategy. to a the

cell represent targeted making Mike. will our a and significant platform. over to out I We platform candidates of already ago are cycle also just allergy Percy across an first that, it progress our established to of and are poised is development degraders, the leadership, advancing was under oncology. With few engine degradation years both R&D which This protein inflammation integral part Carter's turn

Michael Landsittel

$XX this results in reported Thanks, And were quarter, in including call, and revenues net from million in Christy. million, revenues second collaboration, press financial and Earlier from morning, $XXX.X we sales I'll the other million product few license the touch today's total detailed release. a for quarter. revenues. on AYVAKIT our In highlights of $XXX.X

guidance the now of the favorability are impact our the in half understanding the of million and of This on net in of in guidance including negotiations to patients call, strength compared on and half continued reflect product expect role its AYVAKIT our revenue $XXX plays therapy; revenue and impact update to to year; the ISM in view goods and fundamentals million product earlier free revenue in compliance evolving of Philina in to that on driving growth the As the therapy, second we greater Germany. continues duration business: XXXX. the ISM; noted the price $XXX first seasonality potential achieve raising a

philosophy and strong performance growth steady a drove performance to thrilled are a of launch in that also First influenced that the brand-new that raise we half the us are always above with results growth across our Throughout market twice, we a position has building. trajectory in we enabled into year-to-date have by we the that year, and was variables now expected. have upside in our the stronger-than-expected challenges the I'm combination guidance the about in likely our our today. second setting of talked drive early estimates And will of about guidance providing that the in year talked and performance into goal better of the in variables. reflected setting variables those have are and range on relevant expectations. We've guidance insight our reflective and so is half of outcomes that update also inherent to own this

Turning expenses. to

total we research ongoing the expenses expenses year. to relatively questions. over and will flat we position expenses second million anticipate the commitment in cash Operator? on that development at AYVAKIT million We remain our hand. both continue and value. With And with now great relatively our quarter, and with Our for and this operating operator remainder expenses, turn flat a cost solid shareholder $XXX.X SG&A for operating in were and call for of long-term I'll to drive the of our financial remain a are that, success to to back the manage the in launch position the $XXX.X

Operator

Goldman [Operator first from Richter comes from Salveen Instructions] Our question Sachs.

Salveen Richter

thinking seen wild-type And or be the dosing? And redesign might healthy of could next the you from expect to evolved? this are importance as potential data you PK/PD any post And as here you've KIT, year for you should volunteer how regard thinking early to year set your about flexible year? for it data how such dynamics to you With D Part quarterly date impact relates are we this this full ISM discuss the and how are now launch approval, that here? of

Kathryn Haviland

talk about healthy you a for And those a and volunteer Fouad, quarterly wild type Thank be little why little D impacting we're bit seeing some question. then, you, Part Salveen, would bit reform the can the KIT how that don't data, dynamics about the talk Philina, great. of if more you more that?

Philina Lee

really AYVAKIT. prescriber our ever quarter to the of portend patients growing are potential think another I I base greatest in off, how see we're conviction degree really peak factors launch, activated strong strengthened this yet will the the just we've and of Salveen, provider pleased These towards are has and coming. the to that with feedback, had really the our first degree think

things expect chronic learning things. about is rare in more we're think number the But in question impacts. who dig that new rare to dynamics, opportunity, start times visits. a it's go and on And we be to and really dynamics, quarterly of QX. so not to is of to note of a when strong. I this right? is holidays. We one learn the opportunity they of more Speaking around for a on timing There few disease, disease have importantly with seasonal We as some chronic The patients trying and not about hesitant of when of some absolutely last patients they vacations if, something may year funnel depends is The around to patients seasonal do the a talked therapy. of step controlled. this that happen big saw talked dynamic they timing well a there. the need when about are are that they We but is And patient more

feeling important when recognize disease visit, the at they the how that's which component Another impacts they're show up is burden. ability to -- their provider's that

that the question likely And give are in absolutely It's one of on XX% under is for AYVAKIT. and subsequent when. D the start, the the August most just free a to opportunity at reached to they so visit. stay remain on about And there. We've of stabilized. has we've that that highlighted Part goods free factors fundamentals over If been rest this able commercial These the the this doesn't a patients important a start as access therapy. expect they'll opportunity. To of when our us convert question to with stable year. at importantly, patient we We if, of average our know we've And a we believe proportion redesign, not number date, of goods team, relatively the confidence proportion point of to your peak will in important launch. execution start launch that they in but of the strong

Kathryn Haviland

one in that this terms payers. of just Salveen, as much an Maybe on footprint thing commercial skew payer that, of I&I ISM, of patients more more is to really is mix. to younger, we have think add about These tend type

seeing favorability on do part to you the BLU-XXX? to And as we're obviously that's want move that so of well. Fouad,

Fouad Namouni

Kate you, Thank Yes. Salveen. and

is So the now FDA volunteer review study I'm that smooth the IND process running. that really happy was healthy very and very up and

to data it SADMAT in the to safety expect been urticaria cold-induced in for the an and XXXX. as We know available milestone, or now the inflection already the CSU, data point us important show demonstrated. an wild-type And important a in is be all early healthy has PK, chronic KIT, target urticaria spontaneous in volunteers. We PD

a our a showing point consistent will inflection for with us. So XXX good from expectations major profile that's be really

data early next be important that would So year. very

Operator

next comes Our Stifel. from question Brad from Canino

Bradley Canino

Nice quarter.

the One declines have over even is might use you and how And for thesis, is of where eligibility see right this the that threshold discussions about about around a to you main talked for proportion with disease still time I think severity this AYVAKIT. there there likely dynamic is number around is this, physician experience.

looking have have I'm installed So now that for practices a this been and you at initial year.

up therapy. that or of practices the highlighting many patients more to You're on XX have

your practices number eligibility initial good where what the those for legacy seeing are I what ground where term? So want ask is that's is goes AYVAKIT long the there your starting experience? of And is read? today this patient you at therapy on type of to What vision

Kathryn Haviland

talk Philina, want Brad, for overall about little a that? question see pie. as great do growing a question. really as that you, it's more this to And we you do bit Thank a

Philina Lee

Thanks, Yes. Brad.

likely do patients AYVAKIT on X really first symptomatic the a trend your they're their hypothesis really experience or most see select I that providers think to and towards practice. where within X we is positive on with point

have who's AYVAKIT. their and interacted seeing that a the it significantly predominant on to visits are through other see X quality disease to reflected deepening them intelligence, a really trend our trend life. Having and and broadening as may providers We degree also in are patient data symptoms severity. we with who's an AYVAKIT we is see impacting towards opening firsthand of these appropriate for the What claims lens ER of we multiple that their that real burden, eligible signs patients look of minds or field lens towards who providers number our symptom of starting a towards broadening for of X measures we're at of see

very so well And us opportunity. portends that we achieving peak towards think the

Christina Rossi

things. to of longer is such of implications Yes. point, think, are And the broad both we add widening just Philina's maybe which And the go underlying what of really lens resolution label. drivers that, beginning for their some to that of think but really in every United treatment, almost a I of to prescribers on couple we One, States just the AYVAKIT. And benefits term on disease eligible the to seeing is Brad, to we're could patient patients have SM addressing and Philina's for of point, symptoms we're understand, increasingly that have patients. beyond sort a these

true market this out disease our and be thought increasingly growing, of the aspect prevalence what that we prevalence interesting number actually diagnosed really has may growing the know that other been could that understanding we right? patients there increasing the the be it over also of that be So suggests is data sort There's underestimated time. of The may was. of twice

are greater to and could how think what date. the really that's to I we've peak they estimated ultimately will than be play dynamics what interesting a drive even out So potential

Operator

Marc question Our next comes from TD Cowen. from Frahm

Marc Frahm

$XX year another the AYVAKIT. last million, Maybe a few strong $XX has at least. on quarter last or Congrats growing AYVAKIT million quarter so, for over been like quarters,

kind some dynamic just vacations out sort start there guess summer month pushing the of commentary because the maybe would your stocking everything still Just huge we longer slowdown that pointing And to term, guess be seems to or is in to and of to maybe $X Christy sort thinking is even quite to And what I billion. impact something significant or of of bigger of need some you then billion a $X billion? should or else it you people that access point the to beyond is needs than or give confidence be maybe kind opportunity do $X I last guidance then guess. what bigger assume happen is population of Was see is than something around $X.X that? about? there patient that, this opposite. I QX that -- from X all to billion a to driving

Kathryn Haviland

for Mark, guidance? guidelines mentioned clarify maybe some considered we're have talk on Philina, you, about Thank very questions. quickly. we've range more how want mean allow bit the the impact, a how guidance bit actually There and little doesn't range you to calls Philina, no our about just do that inform talk stocking you -- kind channel actually we've of variables thinking Mark. guidance those I about other of is can maybe, that within for variables. in of a where we We I'll that. But contractual little as

Philina Lee

to the I to think Yes. and question which we're Mark, first giving it's maybe we're that is exactly see, we along off, in seeing, need path that conviction achieve to that peak. And about marching peak I opportunity the think your do what us what

the the guidance more than to it's I so we growth certainly the a your sort year. To best think year represents our dynamics rate, of started revenue and our updated where for signpost at are guidance provides last continued to we now growth. this valuable midpoint question the the and more about think doubling of over look where the I where

growth As guidance in to, of year-over-year. I've variables. represents alluded a this factors number revenue substantial The

on for so and rates, And durations which therapy. how starts talked patient function we've it's very of is therapy, attending have discontinuation which both been patients about of low a new chronic

times couple the potential if potential variable, be and the year-over-year quarter-over-quarter is towards to remains compliance I seasonal times of importantly that impact. Other factors certainly us where wouldn't surprised the impacts for growth to geographic that expanding about the even talked goods, think a we it's strong spoken we we've and contribution holidays. But international which is we the of around marching there see that see from free puts contribution. that important, are and proportion our of

Christina Rossi

Mark. Thanks, Yes.

on to first of Just of what all, said, reiterate dynamics. just Philina the sort

year as of had we've how This next. and dynamics. year these conversations quarter -- quarter-on-quarter about sort is absolutely of peak on one think this are about think think I has demonstrated that incredible is that journey we the not that about It's opportunity talked we about is we've And there. we're this for sort opportunity. launch I guidance versus the what the towards

We it. a we big and picture, $X.XX that we're And future with $X.XX year in and the right? are what pleased that substantially, we raised of are we've started really capturing right for guide very a growth. to with are So we now where place where portends

to this XXXX. to strong what blockbuster going raise as terms of opportunity peak, have seen In to see conviction. we back need the we have been in our I a I mean,

think a scratch, really. that a journey, building market been on we have I from

to in we're with we really the we along that I think us kind is And market demonstrate so feel opportunity things peak opportunity everybody as is. launch. there. that it everybody see XX,XXX diagnosed meaningful where We'll place is than to Philina the there. diagnosed bring as going the number States surprise we're who the patients along appropriate our be bringing to not of raise could a and an looking that that the initial show estimate me and It prevalence we of be growth the we to what had continue But of some right, in at the of disease of approach where diagnosed would in to patients of patients patient treat. The suddenly may more at on the United a seeing we're estimates lens continued be broadening actual that launch as exactly really said, the dynamics that we is execute the are

one to in rare a the really I the prevalent continue that I've those to first we'll of most so opportunities disease. at had is launch where therapy really but a experience chance And in have this exciting serious, think disease-identifying career look dynamics, my you

Operator

from Guggenheim. comes from Michael question next Our Schmidt

Michael Schmidt

here. all Congrats from a as continued launch me AYVAKIT on great

that. on more one Just

obviously So driver important you one here. treatment mentioned very growth duration being

about the you rate terms And are ultimately? And of perhaps you drug seeing refill are more that in patients term are so think how what for what when longer in seeing continuously using way? intermittent versus and you dynamic that patients, about thinking a you're

Kathryn Haviland

a about and patients Philina, how to more talk do you we're continue of compliance seeing on therapy want here? kind little

Philina Lee

the strong Yes. really Michael. for world. out see hoped AYVAKIT We're that in of pleased the is exactly PIONEER to question, that as from playing we Thanks profile real

on march contribution real to to increasingly bound this the compliance, become of to really We high we therapy how that our all towards If earlier certainly look even and very towards as are at of have consistent is trending see to is compliance as started to, going with in shared chronic to of discontinuations think, duration remains seen. see longer ISM I important therapy that of a our world, pleased have And pleased analogs now peak towards we who upper to months SM with duration the question therapy duration we're impacts. world. To multiyear growth advanced alluded Kate that on patients again in really an we your trends real longer. few the that, think, these we've therapy think opportunity. I relative trending XX

Operator

next Reni Benjamin comes JMP. Citizens question Our from from

Reni Benjamin

this upping top are patients? as And and the XX-plus is amazing you're original the docs of on the targeting, originally for physicians targeted them you is strategy or of there launch? idea us, start an quarter through that prescribing? Congratulations how Or Maybe kind expanding to kind beyond of many of guidance. of to XXX just number of all a to also get go XXX

Kathryn Haviland

we've the question, a here little the about to seen AYVA? Philina, and that Ren. in more Thanks for bit breadth And do adopting you physicians want depth in strength Yes. talk

Philina Lee

been and there grow. the patients. just our towards adoption important ISM to top maybe providers now of Ren, providers That that our And to be think, limited are Yes, date clear, launch XXX is treating pleased dynamics snapshot, are really XXX by breadth we're to we've more and I about. that talked deepening to the volume. top XX certainly has than to who most illustrate see tremendous continues not just It's

a of beyond to the continue the deepening that we're those is are those time. and providers among how who in dynamics on which to AYVAKIT repeat expect oncologists, are fact, with therapy far in AYVAKIT. profile also think patients expansive hematologists, importantly, academic really providers this. become of depth and the more prescribing, entire happening of just we reflects can again XXX. But deepening the adopting would tranche real and We across world the setting we these seeing over we number breadth see putting and that who community comfortable in top think growing of And see I allergists see strength

Operator

James. Our comes Prendergast from next Laura Raymond question from

Laura Prendergast

on Two me. the great Congrats quarter. quick from ones

development other -- want self-sustainability, into rapidly financial CSU your guidance probably II a you'll move AYVAKIT First, of out assuming what I have indications? financial once data, pretty clinical this and healthy you to possibly or a volunteer much but -- know be? to what how And real-world low, are of obviously discontinuation shaping fits your for rates into the they're then for into XXX, Phase

Kathryn Haviland

much can for just Thanks Maybe discontinuation? allocated comment take how Michael, the KIT. have Philina, to question, on the then, we And Yes. question wild-type about you that Laura. you

So let's go.

Philina Lee

low, over compliant sort compliant Laura, of It patient patients they're control they're their to extremely are their behaviors in disease, population. triggers These when therapy. Yes, the -- highly taking of it things I medication. who as discontinuation as the as very well they're seeing we've really which way. lives alluded sticky are this I that is how doing an the doing therapy, comes on out we're real think, a the that staying patients that to start once avoid gain they're very a on have They're to rates includes that preference, world, turns balancing right? think So in the all to taking both in

And a well QOL of sustained X so mapping and X I data median seen years presented alluded EAACI, some alleviation over therapy as a sustained the of years over to profile and just as patients long strong safety symptom where in as well-tolerated we that as very with that on and was ongoing. to benefit

to world expect profile the we as so playing And out absolutely this be well. in real

Kathryn Haviland

do to about talk little a bit wild-type Mike, want And you KIT.

Michael Landsittel

our with into like your question, just guidance, the our we financial to so able get KIT guidance be to a answer Laura, to kind to give respect financial of is for confidence profile. self-sustaining then baked And to yes, our wild-type plan development Yes. that about

as are allocate look opportunities that like R&D BLU-XXX long-term to are continue growth to priorities, Our high-value we our beyond AYVAKIT, to capital to drive going rate.

And see data specific the plays so as obviously, how and we'll out. that we share get more trial financial is into guidance factored on in. And that color

Kathryn Haviland

data it's symptoms potentially mean of this concept we're core as think way significant could at about improve promising that for certainly will proof targeting KIT going help program. will I said, how diseases. We're biology outcomes and Laura, us point, excited to really And go. that us of to strong very impacts most a that patient this be this we your of the think with And look a believe volunteer we we about range to really define. point across think do inflection I healthy that BLU-XXX that we've the molecule to data seen that disease and And broad

it Mike will priority to have consider investment, we this for very that data strong. an as going be as as beyond and We said, we anticipate even absolute

Operator

Our from Ulz comes Michael next Stanley. Morgan from question

Rohit Bhasin

on This Mike. for Rohit is

mentioned about there? to in you expanding ex-U.S. the expectations talk On front, XXXX. you opportunity Can additional the countries AYVAKIT just and

Kathryn Haviland

our Christy, Mike. you Thanks, Yes. talk want to do about international expansion?

Christina Rossi

Yes.

importantly, quarter. had a what international this is expect nature U.S. gating outside AYVAKIT pricing of reimbursement to the driver from the we go and we're continued beginning We really forward top that be And from in is factor. bringing great stages business this sort the our line So quarter pleased often here. The as really patients are of globally of growth with to a a seeing revenue we of business. we're

the to And United what so launches see we in tend lag States.

So what we're number but SM. seeing continuing launching to in right of other launch advanced primarily ISM, markets in now is Germany a

have Europe. a footprint throughout We

Europe through distributors We AYVAKIT in patients geographies. Eastern also bring and other to

base. I'd a through expand walking And and start ISM that beyond in to and of our so revenue markets in of reimbursement to expect actively year, continue great primarily process where the engaged other major pricing have launches opportunity we're now. some to we to sort next Germany come procedures, online

start would in able So be the to we'll to expect commercialize online, larger ISM as we those opportunity. come

driver of to growth line see that and So that to we is peak that expect contributor bottom for a potential to it's continue certainly AYVIKIT an be important globally.

Operator

Our next question comes from Ami Needham. Fadia from

Ami Fadia

just in patients for and a is And the map to way, XX,XXX-plus way have I of earlier. Can severity one X from there question physicians. questions, of quantify and these a of of talk in objectively of threshold through for gotten patients? patients Philina decreasing one you some to, then from thinking across the spectrum follow-up current that terms And that? of activation Becker. your sort sort for sort another done I of and around feedback patient What's sort treatment? your You've have efforts Brad's

Kathryn Haviland

Please line question, the shut because go Ami, ahead second we'll with after. your

Ami Fadia

Sounds good.

Just year? sort read there next with metric will is a to looking order data regards breadth volunteer biomarker that to be or we should some out healthy from BLU-XXX, the the of application of the in for that a understand study of

Kathryn Haviland

Ami. Thanks,

think Fouad, disease talk question to in that. burden engagement first are AYVAKIT and around then And So target study. kind volunteer little going the Philina, bit to how how that we're for about at the I of we you the BLU-XXX, on think want seeing patients about a coming spectrum healthy we're looking be as of

Philina Lee

Yes. Thanks question, Ami. for the

experience as patient of ISM all address playing experience, they adults considering comfort And on that the is is on I be in the X eligible life". patient. And certainly, towards tend that living lens seeing quality think date think more opportunity as starting on who are dynamic patients we're more are to as having impacting we're my Christy step alluded to, their providers well AYVAKIT appropriate end and severe really patients who managing given seeing that, identifying of I are think, virtually an symptoms both patients the launch the breadth are symptomology, out as have the for of I ever-widening an or are on who as with who that side encountering X to with "I of gain but the an on gaining AYVAKIT. provider to AYVAKIT these our label, broadening really of side

importantly, just not mast where leading of that's the of symptoms the just think too we and I other progression. too impacts a is elements worsening on to really, This necessarily a or think the many mutated body abnormal that's leading progressively and bone biology, many mast cells is symptoms static about in just not leading the way the for bone to that's organs have potential that's the important. even it's treating It's you marrow cells, too time, disease. of other over disease a health ISM

to also think urgency is seeing leading edge we're on history piece leaders I so improve the of to And that with natural opinion an treat one key ISM disease. really that the in attempt

Kathryn Haviland

overall data, just would Christy little thing, about one add how disease what to the this moderate-to-severe. talked beginning qualify that year, have at of as we an is could -- we patients we there's that's of XX,XXX already said undercall believe a who just the claims of Maybe Ami, likely at through which look prevalence kind But did under we is. as

in are patients So of with trial. kind that clinical right line those PIONEER are our

surface we the bit to broadening again if really scratching this leads so talk conviction plus think of you there benefit patients thousands and potentially and are BLU-XXX who theâ€¦? you to about this there which are opportunity little aperture, do peak of could just And on our from about opportunity. Fouad, want XX,XXX this AYVAKIT,

Fouad Namouni

volunteer I mean pharmacology number looking wide but data the at pharmacodynamic we're see is pharmacodynamics. markers study. volunteers the And that the the for the which and important, from BLU-XXX of we'll obviously, safety in will healthy healthy cover, also

pretty it a the the in we inflammatory range that give we finish us and of really will X or when know, is as broad. we with the not we we is way that idea at diseases looking opportunity clinical a of an but X the of even tackling at study concept at on it for The and BLU-XXX an is KIT will the That all multiple or just inflammation about target tackle webinar our really started. diseases way few execution proof talked -- inflammation we thinking applicability ideal only with type months the are the the increasing our breadth confidence BLU-XXX. rapidly early are that very wild-type ago, past As of to about target to looking as type diseases clinical go biomarker we

Operator

from from Oppenheimer. question Matt Biegler next Our comes

Matthew Biegler

been asked Congrats versus price well. as on investors that a front there's the from could any have on Can is volume us. growth whether by quarter-over-quarter? a so, you you comment pricing revenue And break increases if few us down net question

Kathryn Haviland

Thanks question, Matt. for the

I have not think we pricing that's an take that. no, easy one. I quarter-over-quarter had any net just increases. can But

contributing one that's So the of factors. not

Operator

Our Lebowitz from David next Citi. comes from question

Unknown Analyst

community docs slides, for David. for you of the AYVKIT, seeing at prescribers you're can down community on appears last the some academic centers? ticked the quarter. has it versus trends On And slightly centers contextualize proportion of relative that John from in the

would helpful. there color be any just So

Kathryn Haviland

Yes, John, thanks the for question.

do Philina, a first think of the of the talk one want community really we've that things participation of about the about bit quarter early I the our more been pleased to even that in launch. is so But, split? you

Philina Lee

Yes, sure.

curve more have oncology specialties occurring chronic So disease But just of well as is speaking alluded providers to off, been along so the adopted AYVAKIT. we've that of I think, important and growth broad we're that this trend to, more as The that of seeing of across one community, indicators most of number I trend adoption academic in I in quarter, you're as to this great probably the within that seeing and prescribing. before, extent We all see like for we're to that lead as terms first one. increasing who to of settings, rare of seeing, likely continued prescribing deepening hematology, as is a academic sort community, centers I those well pleased and launch lead we're as speaks alluded as entire deepening of an think, which a really excellence. see allergists. The breadth the Kate really think

so And expect across continued both we time. well depth settings specialties over and continued as all breadth as

Operator

Barclays. comes Peter question from next from Our Lawson

Unknown Analyst

on Alex Peter is for Barclays. This at

study? of And think molecule elenestinib, just could us profile you the about the differentiates or time that pivotal how remind on if the then to we improves on AVYKIT. wondering needed Just should complete how

Kathryn Haviland

Christy, for elenestinib? Alex, do you want about to question. the talk Thanks,

Christina Rossi

Sure.

So elenestinib It's we're inhibitor. next-generation KIT moving out DXXXV on our forward.

we potent we increasingly think another don't around molecule. point we know of ISM. relevant that's before, very penetrance in it's brain Primary As although is necessarily selective said differentiation

So our bring way is the a address strategy we in forward this disease in can really clinically is ISM. going really to and where where differentiate

we for the a XX of goal in disease, the really years the I frontier way a much what has now understand disease So Medicines. think did terms deeper biology in than the of at is the we disease spectrum treating the serious of ago very And patients moved in this of expectations moving really eradicating and are what really towards that patient setting. chronic Blueprint

thoughtful impact we about that we the X to ISM. we how clinical differentiated into head demonstrate year. really elenestinib we'll more be think in again, of we're of HARBOR, so about end the terms that really forward on as sharing of And Part being bring And when

Operator

Berens Our question Andy from from next comes Leerink.

Andrew Berens

as of give escalate ultimately by year, some you numbers. charitable over were Can drug percentage the second what by this a they're purchased wondering ISM maintain organizations. to sense million trying on these milligrams told higher? QX Two then me. the the Do be us into bit XX expected or drug could last was this $X from increase drug number their number. the questions to in I you free to Just grow tradable a they recall in Congrats us give patient XX% would free get quarter? you revenues patients from of paying the if insight the numbers purchased the to patients? I question converted whether patients of ASM have order organizations? sub-XX%. And to Are us

Kathryn Haviland

you do want Thanks to of for the question, those? Andy. Christy, both take

Christina Rossi

hear Andy. Nice from to Sure. you,

we underlying evolution see We kind in of seeing that with right? free launch. the in And drug. more dynamics see the we're more reduce start are, into that launching The lot you really to dynamics so Patients naturally ISM. to help said, as younger. the Kate will with payer to are the drug from patient we this patients. our mix a space different, as are happy free said, exposure So population, And a chronic is of commercial comes immunology really

this of tailwind sort and long treatment, what we as case, unwind, on access an which we we means whether patient on therapy, who long patients knew of we limited to would for paid tends time. of expect afford addition would the benefit commercial redesign, from be again free This alluding what with year why had their be proportion we access external was and permanent but SM, advanced dynamic back it access that drug. because year and in their and basically own. can we out addition, dynamic reason see a of be knew own the to a who pocket of drug, but unfortunately quantify we sources on the In patients situation some very periods have for temporary more that was were of ISM this you're seeing In to setting to has right? So different that year find as may therapy, which IRA that is that we're that's paid of move they're was that support saw that is quantified or to to patients or would last The able last indicated that to. -- patients therapy, that to free clinically than

that to So we expect benefit continue.

the we overall free state. think relatively of steady that said, As drug a reached rate has Philina

or be think to expect other. driver So about big one we that a wouldn't we the going forward, guidance as way

Kathryn Haviland

talk of usage? little what terms to want in bit a XX-milligram the about You we're seeing

Christina Rossi

Yes.

really We full population spectrum, of spectrum patients. a unique. is where SM right? heterogeneous And see centers clinically each of patients the Where need we So we that really It's milligrams of seen know in tends to excellence of vast majority treating be it, we've indolent. the to of patients and lot see starting across continue seeing being a milligrams. XX from it don't very SM. XX the they're utilization utilized We we're it's at to patient patient patients primarily report advanced

that And for safe and access that effective patients range is a huge can prescribers we strength have so doses this the of available easily a of fact profile.

One one-size-fits-all about dose, world. what vast we're milligrams majority not in of that real disease. see is is to patients But and the one-dose-fits-all the ISM things the it's It's SM for patients, we've XX of a the that's right not a certainly learned disease. continuing

Operator

from Our next from last and comes Sudan Loganathan question Stephens. question

Sudan Loganathan

your again the picture quarter. big Congratulations on your development. business is great on on first more views My question

clinical same market the for with the with study With on assets to you protein into developing earlier launch, you to fit in for the endeavors AYVAKIT the Or profile with growing degradation there from portfolio? And the what acceleration on for patients the that be focus any effect test then of has doing from refractory ongoing this on pipeline discovery that the is AYVAKIT the Will the you're to groundwork on study, there enrolled anticipate there? the for cash position kind HARBOR and akin AYVAKIT to patients bring the still bolt-on set? actually may do may mix program of AYVAKIT of do secondly, would benefit be that out have challenges getting in enrolling appetite be the indication? deals targeted late-stage that ISM with any stage

Kathryn Haviland

of appreciate Sudan, for coverage team the the Blueprint joining and questions, Thank kind here. really welcome. your you, We

in the and how maybe, can But achieving we do about Sudan, X as want is I've terms Blueprint corporate more think has business a business. goals almost that Medicines to want on side questions, specifically in of side, to HARBOR. But optimizing been about with our maybe here then development, BD, and talk about been optimizing the and talk things of consistently and, that our Christy, we're you I start both those Fouad, So you one on you thinking ways sell -- think bit Christy, buy and that of the BD? a strength of years

Philina Lee

Yes.

in portfolio this both as outbound and strategic the is, Kate said, development. a I business lever us, optimize to terms inbound mean of to So

for strategic again, sort constantly of front, perspective. could of the a external inbound companies, development that that scanning both talking engaged kind looking are environment, from be fit, and to on We things outbound business an

to inflection which of AYVAKIT lot said we as point much It's clear here from So continuing program, clinical forward focused particularly as We that terms allocation, we advancing data, the we which are data prolific And the then this cell we important on as generate a are think, believe on disorders. perspective time that's about to to BLU-XXX, right? been what clear priorities we've Phase really bring launch are, development mast execute our very well elenestinib from bringing call, capital and of really we franchise. advance be our importantly, around I moving very and fronts cell a forward. And to an attention AYVAKIT commercial disorder that this number and effort. a could our and very very mast towards, across of patients continues clinical in and as get suffering

and going sense focus. that perspective we're a our both from of and outbound distracting So perspective. to an and things focus from inbound to from nothing is look that that strategically, course, BD open to make is But continue

Kathryn Haviland

that talk that to maybe mean be X one XX we just than would candidates our driving our XX other fact discovery And thing Medicines. less in candidates at FDA labs. Like, team think I been prolific our in company we're lab, -- of innovation is out not add development at now about from only been brought come we I has Blueprint approval the the that to years. we're X remiss that have

gives an external that internal development innovation. Fouad, that HARBOR? just teams quality, think about keep as high to absolutely and and research enables to engine really want top are to innovation talk Our do us we a just incredible about that you us opportunity top bar have notch,

Fouad Namouni

earlier on from I'm to continue registrational innovation Yes. to will in really now. Christy's -- to to AYVAKIT. really that very HARBOR strategy are needed point, a be answer that our happy major teams will to from answered elenestinib innovate years I going mean many team. build to And In differentiate for say the I'm be that design questions

execution standard don't elenestinib as major patients. availability care challenges of we of today, AYVA repeating terms the of of expect terms and the of in In

really in that of, that same treating aspect performance to they and that how have clinical also time I First, do and trial, because but know institutions at mean will that sites the clinical the doing the of do trial number skillset support study also to patients patients and international this. Also, And a we also did with to to open help get as in the study recruitment elenestinib open to the from other will access U.S. PIONEER, countries trials.

we So to execute ability study. confident X very Part our about are HARBOR elenestinib

Operator

We currently have further no questions.

for the call would to back remarks. to So CEO, I go ahead. like turn the Please closing Haviland, Kate

Kathryn Haviland

driving Thank the Thank today, thank and proud you, in you position Medicines. a we we to on contributions operator. our of all XXXX, the to to hard thanks of our And the we of our success entire mastocytosis tremendously systemic you half of us time deliver Blueprint for support are team who strong we through cross continued with your as as Medicines. join and of taking second Medicines I'm Blueprint people work, at are extremely patients Blueprint dedication beyond. the for and commitment

Operator

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

now You you. Thank your disconnect may lines.

Blueprint Medicines (BPMC) 1 Aug 242024 Q2 Earnings call transcript