在這篇文章中:
It has been about a month since the last earnings report for Blueprint Medicines (BPMC). Shares have added about 8.7% in that time frame, outperforming the S&P 500.
Will the recent positive trend continue leading up to its next earnings release, or is Blueprint Medicines due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at the most recent earnings report in order to get a better handle on the important drivers.
BPMC Beats on Q3 Earnings and Sales, Raises ’24 View
Blueprintreported third-quarter 2024 adjusted loss of 89 cents per share, narrower than the Zacks Consensus Estimate of a loss of 97 cents. The company had incurred a loss of $2.20 per share in the year-ago quarter.
Quarterly revenues of $128.2 million, generated entirely from the net product sales of Ayvakit, surpassed the Zacks Consensus Estimate of $126 million. Total revenues jumped 127% year over year. Ayvakit sales have increased 136% year over year, driven by new patient starts, low discontinuation rates and a high compliance rate.
Shares of the company gained 7% on Wednesday following the better-than-expected third-quarter results.
BPMC’s Q3 Results in Detail
Blueprint Medicines’ total revenues comprise net product revenues from Ayvakit/Ayvakyt and collaboration revenues.
Out of the total revenues generated from Ayvakit sales in the third quarter, $113.1 million came from the U.S. sales of the drug and $15.1 million in ex-U.S. sales. The company did not recognize any collaboration, license and other revenues in the reported quarter.
Research and development (R&D) expenses totaled $85.3 million, down 23% from the year-ago quarter’s figure. The primary reason behind the decrease in R&D expenses was continued operational efficiency gains across the company’s portfolio, along with favorable timing of manufacturing of clinical study materials.
Selling, general and administrative expenses were $89.9 million, up 27% year over year. The uptick in such expenses was due to higher compensation and headcount costs related to the commercialization of Ayvakit/Ayvakyt.
Blueprint Medicines had cash, cash equivalents and investments worth $882.4 million as of Sept. 30, 2024, compared with $868.5 million as of June 30, 2024.
BPMC Raises 2024 Financial Outlook
Based on the strong third-quarter performance, Blueprint Medicines now expects to generate around $475-$480 million in global Ayvakit net product revenues for all approved indications in 2024 compared with the previous guidance of $435-$450 million. This could have also impressed investors and contributed to the stock price rise.