Blueprint Medicines Corporation announced its financial results for the third quarter ended September 30, 2024, reporting global AYVAKIT net product revenues of $128.2 million. This performance contributed to total revenues of $128.184 million for the quarter, a substantial increase from $56.566 million in the third quarter of 2023.
The company also raised its full-year 2024 global AYVAKIT net product revenue guidance to a range of $475 million to $480 million, an increase from the previous range of $435 million to $450 million. This updated guidance reflects continued growth in patients on therapy, favorable compliance, and stronger-than-expected international performance.
Blueprint Medicines reported a net loss of $(56.276) million, or $(0.89) per share, for the third quarter of 2024, an improvement from a net loss of $(133.713) million, or $(2.20) per share, in the same period last year. The company ended the quarter with $882.353 million in cash, cash equivalents, and investments, and expects a decline in full-year operating expenses and cash burn compared to 2023. Additionally, the company remains on track to initiate the registration-enabling HARBOR Part 2 study of elenestinib in indolent systemic mastocytosis (ISM) by year-end 2024.
The content on BeyondSPX is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.