Blueprint Medicines at The Citizens JMP Life Sciences Conference: Strategic Insights

On Wednesday, 07 May 2025, Blueprint Medicines (NASDAQ:BPMC) presented at The Citizens JMP Life Sciences Conference 2025, sharing a strategic overview that highlighted its robust financial position and ambitious growth projections. The company emphasized its transition from oncology to a focus on diseases related to mast cell biology, while also addressing the challenges in expanding its prescriber base and improving diagnosis rates.

Key Takeaways

• Blueprint Medicines projects revenue between $700 million and $720 million for 2025.
• AYVAKIT is expected to reach $2 billion in revenue by 2030.
• The company holds over $900 million in cash, strengthening its financial position.
• BLU-808 is being developed as an oral treatment for type two inflammatory diseases.
• Blueprint received $80 million from the IDRX transaction following GSK’s acquisition.

Financial Results

• 2025 Revenue Guidance: Blueprint Medicines forecasts revenue between $700 million and $720 million.
• AYVAKIT Peak Revenue: Anticipated to achieve $2 billion by 2030.
• Franchise Opportunity: Estimated at over $4 billion, including AYVAKIT and elenestinib.
• US vs. Global Revenue: The US is expected to contribute 70-80% of peak global revenue.
• IDRX Transaction: Received $80 million from the transaction with GSK.
• Cash Position: Holds over $900 million in cash.

Operational Updates

• AYVAKIT Market Penetration: Targeting treatment of approximately 6,000 patients to reach the $2 billion revenue goal by 2030.
• Geographical Expansion: Germany is currently the only market with commercial ISM approvals outside the US, with plans for further expansion.
• Direct-to-Consumer Advertising: Utilizing digital platforms for disease education and awareness to drive patient engagement.
• Sales Team Targeting: Employing advanced data operations for real-time targeting, including patient interactions and test results.
• Diagnostic Improvement: Collaborating with teams to enhance blood-based diagnostics for systemic mastocytosis (SM).

Future Outlook

• BLU-808 Development: Conducting studies for allergic rhinitis, conjunctivitis, chronic urticaria, asthma, and MCAS, with preliminary data expected by year-end.
• Pipeline Expansion: Continued investment in discovery to broaden the pipeline.
• Standalone Vision: In five years, expects AYVAKIT and elenestinib to grow, with BLU-808 entering the market for certain indications.

Q&A Highlights

• Market Share Needed: A minority market share is required to achieve the $2 billion target.
• Diagnosis Rate: A 20% increase in SM diagnosis rates over the past four to five years.
• Focus Areas: Concentrating on both diagnosed patients and improving diagnosis rates.

For more detailed insights, please refer to the full transcript below.

Full transcript - The Citizens JMP Life Sciences Conference 2025:

Ren, Host/Analyst, Citizens: Pleasure to welcome the next presenting company, Blueprint Medicines. Joining us here on stage is CEO, Kate Havlund, as well as Fuad Nimani, president and president of research and development. Thank you both for for being here. For all of you in the audience and those in the webcast, you know, this is this has been one of our top picks from soup to nuts, the company that developed drugs, got it to commercialization, and now is on its way to billion dollar revenue stream. You don’t typically see that in kind of like all of biotech.

And so when we have, you know, such companies here, we love to spend the time kind of diving straight in. I never know exactly who’s in the audience or who’s listening to the webcast, if they just landed on the planet yesterday and just don’t know who Blueprint is. But if you could maybe take two to four minutes to just tell us a little bit about Blueprint and the pipeline.

Kate Havlund, CEO, Blueprint Medicines: Absolutely. So first of all, thank you Ren and the entire citizens team for having us here today. We really appreciate that. So, Blueprint Medicines, we are a company that is focused on making life changing medicines for patients. And now our focus is really around diseases that are related to mass cell biology.

And so that has been an evolution for us. So those of you who may have known us before, our heritage is more in oncology, and we still certainly have some of that. But we have really moved with the science, and what we have now is what’s a really tremendous commercial medicine in AYVAKIT that’s treating a rare disease called systemic mastocytosis, which is caused by a mutation in mast cells. And then we have a pipeline of programs now coming forward across other mast cell targets, including modulating wild type mast cells across a whole range of type two inflammatory diseases of allergic inflammation, which we’re really excited to talk about today. So I think we have a very compelling growth opportunity from a revenue perspective.

We’ve got a pipeline to kind of see that in those next waves of growth. And we’re in a very strong financial position. And we’re really what we think about as self sustainable from a financial perspective. So, I’m sure we’ll get into all three of those pieces, but to your point, we’re in a strong position today.

Ren, Host/Analyst, Citizens: Yep. So let’s start off with AYVAKIT, your lead commercial product approved in several different indications. I guess I’d Oh, let me start off by saying congratulations again for another of beat and raise quarter, which we love to see, the markets love to see, and clearly shows just how much demand there is for the drug that’s out there. Also a very unique company in that you follow the science, right? Like you said, you started off in oncology, you have an approval in things like, you know, advanced SM, right, and the like.

But, you know, now you’re more in the indolent, you know, area. So you have three approvals. Can you talk a little bit about maybe the peak opportunity for each or should we be just looking at it, you know, kind of as a whole and how you see that moving forward? Just as part of that, how does all that get sequenced or taken care of by one sales force?

Kate Havlund, CEO, Blueprint Medicines: Yes, okay, so it’s a great question. AYVAKIT is approved in three different indications, a very, very small indication in a subtype of GIST, or GI stromal tumors, which was our first approval. Then the advanced form of systemic mastocytosis, which is very much a classic kind of blood cancer leukemia type form, where patients have much shortened lifespans. And that’s about five percent, five-ten percent of the overall systemic mastocytosis population has the advanced form. And then the ninety-ninety five percent of the population is what we call indolent systemic mastocytosis.

And so, that is, you know, in terms of patients, a much larger group of patients who suffer from this disease. Again, it is caused by the same mutation in mast cells. It’s called the D816V mutation that causes the entire spectrum of disease. And really the ISM opportunity is the one that is the much more scaled opportunity, given just the number of patients in The US, which we estimate around sixty thousand patients who may have SM, of which ninety to ninety five percent of them are in the indolent form. And so that is where we got the approval in middle of twenty twenty three, actually my year is right, and so that has been really the opportunity to change the financial outlook for the company.

So when you think about AYVAKIT and the value of AYVAKIT, it is predominantly driven by the ISM opportunity and continue to grow our penetration into that market. Although, SM and GIST still continue to contribute. So GIST is pretty steady for us. We still see commercial usage. We do not promote there, so we don’t actually focus our sales team there.

And then the advanced setting, again, it’s just a much smaller set of patients, and we still see growth there, but it is pretty much swamped by the ISM opportunity and the growth we’re seeing there.

Ren, Host/Analyst, Citizens: As we think about, you know, to kind of put numbers right to this, I think earlier this year, you guys talked about kind of what your goal is for 02/1930, what the potential peak you know, revenues could be in this indication? Can you just remind us kind of

Kate Havlund, CEO, Blueprint Medicines: Yes. Where we are in that? Mhmm. Yeah. So where where we sit kind of coming out of q one is what our guidance for for 2025 is that we believe we’ll have revenue in the range of, 700 to $720,000,000 this year.

Is our second full year of launch, so we think that’s a tremendous accomplishment, and really talks about both the really strong profile of AYVAKIT, in terms of meeting the needs of patients with ISM, from both a safety and efficacy perspective. And then what we said at the beginning of the year is that we expect AYVAKIT to hit $2,000,000,000 of revenue by 02/1930. And that’s really just understanding the size of the market, the growth we are seeing both in AYVAKIT utilization, as well as in just the growth of patients being diagnosed, which has been growing at a really nice clip over the last number of years. So we expect, we believe there’s about sixty thousand patients in The US, and we see twenty five thousand diagnosed today. So that’s a great group of patients who are currently identified and under care that we’re spending a lot of time from our sales team’s perspective.

And then what we talked about is that we expect this SM to continue to grow well into the next decade. And so even though AYVAKIT, we expect to be at 2,000,000,000 by 02/1930, it will grow from there. And this is where our next generation program also comes into play, which is elenestinib. And what we said is that we believe the whole franchise opportunity is 4,000,000,000 plus. And so, that is why we’re investing in the next generation, is that we want to be, first of all, in the driver seat of innovation for these patients, and continuing to improve outcomes for patients, and at the same time, able to have Blueprint Medicines benefit from what we expect to be this kind of, you know, many years of growth in the market.

Ren, Host/Analyst, Citizens: And I just want to remind ourselves and investors, Blueprint is a global company, is that 2,000,000,000 and 4 billion US numbers, or is that global opportunity?

Kate Havlund, CEO, Blueprint Medicines: It’s global opportunity, of which, you know, at peak we still expect The US, you know, to be somewhere between 7080% of that. So

Ren, Host/Analyst, Citizens: Got it. Yeah. Just breaking Can

Unidentified speaker: I just have one question?

Ren, Host/Analyst, Citizens: Can just

Unidentified speaker: follow-up on that?

Ren, Host/Analyst, Citizens: The at the very end, I will promise to come back to you. If we we think about SM and the different pillars that are that are involved, right, in terms of gaining market share, you talked about the twenty, twenty five thousand patients, you know, that’s already diagnosed.

Kate Havlund, CEO, Blueprint Medicines: Yes.

Ren, Host/Analyst, Citizens: I don’t think you have to get to anything more than 20% market share to reach that 20,000,000,000, you know, not, sorry, 2,000,000,000 number in 02/1930. How are you getting at those patients? What are the different pillars that you’ve talked about in the that you’re addressing right now to grow that?

Kate Havlund, CEO, Blueprint Medicines: Yeah, and your math is exactly right. We expect that to get to 2,000,000,000, you’re still treating a minority of patients with a disease modifying D816V inhibitor to get there. So, to your point, about six thousand ish patients in The US. And that’s based on today’s diagnosed set of patients, where we expect that to grow. But I think the pillars really are around having a really strong foundation of healthcare providers who have clinical experience with the medicine.

You know, when anybody launches a drug, you have kind of the world leading key opinion leaders and investigators who had experience through the clinical study. But what we spent a lot of time, and our focus of last year, really building out a broad base of health care providers in The US and internationally. Although internationally, just as a reminder, the only market that has commercial ISM approvals right now is Germany. So we’re going be looking to bring more markets on this year. But if you think about building that really strong base of experienced health care providers who have clinical experience with AYVAKIT, who are treating their patients, who kind of have their hands on the medicine and see what it can do for their patients, see the tolerability profile.

So that’s a really important base, and we continue to show increases in both breadth and depth. And we do expect that, and we’ve seen this, that when a prescriber has their first experience with the medicine, they tend to then find the next set of patients in their practice, or start to recommend it more heavily to the patients in their practice, and we see that deepening. So they continue to prescribe it for new patients. I think that’s the first step, and then now we’re at a place where we will continue to build that base of prescriber experience, but we can do more direct to consumer at this point. And we’re spending time and resources digitally with peer to peer programming, where we can set up a patient who may be considering AYVAKIT as a medicine, with a patient who has experience with it, and they can have a conversation about that experience.

And what that enables us to do is really build momentum from the patient side. And we’ve seen that actually become very successful, because you want to drive a patient into an office where a prescriber is educated about the disease, educated about the medicine, and also has some, ideally has some clinical experience. And so that’s kind of that next step where we are in the launch, that’s more of a focus towards the end of last year and into this year.

Ren, Host/Analyst, Citizens: So one of the pillars that I think about and you can correct me if I’m wrong, is actually the established base of patients as well. The people that are on therapy, they’re not just on therapy for a couple months, right, or a year, I think the latest data shows three years.

Kate Havlund, CEO, Blueprint Medicines: We have to model it because we’re not at a median yet, to your So

Ren, Host/Analyst, Citizens: that creates this great revenue, this base of revenues that’s recurring. And then on top of that, you have new patients

Fuad Nimani, President of Research and Development, Blueprint Medicines: coming online.

Kate Havlund, CEO, Blueprint Medicines: It’s an excellent point. Mean, really the two fundamental aspects of this launch that that pretend the long term growth, is how can we continue to penetrate the market and get new patients to start on therapy, and then the length of time that we can keep patients on. And this is where the profile of AYVAKIT becomes really important. In the sense that patients with ISM, it’s a chronic disease, it’s much more like a chronic disease than it is oncology. The patients need to feel better, and they also need to have a very strong tolerability profile, so that they want to stay on the drug.

What we’ve seen to date is, again, very low discontinuation rates, with patients now we model out duration of therapy to be three plus years, because again we haven’t hit that yet. We’re in our second full year of launch now, we’re seeing patients stay And I think that really is a testament to the profile of the drug.

Ren, Host/Analyst, Citizens: When we look at other rare disease launches, and you guys discuss kind of like, hey, this is a company, right, that we’d either like to emulate or hey, this is a launch that didn’t go well according to plans. We’d like to stay away from that. I guess I’d love to just kind of get your quick thoughts on what are maybe some strategies that you want to stay away from or what are some things that you might want to emulate? What is your poster child kind of rare disease launch that you kind of look at and would like to be?

Kate Havlund, CEO, Blueprint Medicines: I mean, there’s so many companies that have come before us who we look at because they’ve done a tremendous job and nothing’s a perfect analog, but we kind of take aspects and learnings from so many different groups, whether that’s Vertex, whether that’s Argenx. I mean, there’s just people who have done such a tremendous job bringing innovative medicines to kind of patients who have needs. So we think about all of that, we think about, they’re good students of what we can see from their activities. I mean, think one of the things that we did very early on, is it is a rare disease, right. So it’s a big rare disease, but these are not patients, some physicians will see an ISM patient once or twice a year.

And so how do you kind of make it so that people want to focus and invest time in this disease state? And what we’ve done is we very early on invested in what I think of as a very sophisticated data operation, where we are able to provide our sales team, data operations which I’ll talk about, but we also hired very experienced sales professionals. And so we are able to provide our sales professionals with information about where patients are based on we can think of as real time targeting. So we can see where a patient through claims data may have interacted with a healthcare provider recently. Or we also can see from lab data at times if patient has been positive on a D816V test.

And we can basically pull all that information together and provide it to our sales team members, so that they are empowered with that, as well as their own knowledge of their own territory. And so that has been very impactful in terms of making sure that we’re getting, you know, that our sales team is prioritizing their time in the places where you’re most likely to have, you know, a patient in need. Very recently in that office, so when you go in and have a conversation with the physician, it’s very relevant to them, because they just saw that patient.

Ren, Host/Analyst, Citizens: Got it. When we think about, think my associate had seen some advocate ads on Netflix or TikTok, I forget, you know, where But, and I’ve asked this question before in the past because I actually have PTSD from a previous company that I covered who went kinda all in on DTC Yep. And and it and it really just kind of threw off, you know, the the expense line items, you know, quite a bit. Yep. This is a different kinda DTC campaign.

So I’d I’d love for you to just kind of, you know, give us a sense as to, you know, a, you know, how you gauge this campaign and how this is moving forward. But then also just to remind us that, you know, you’re also very, focused on the the expenditure line and, you know, don’t plan on buying $5,000,000 commercials at the Super Bowl or something.

Kate Havlund, CEO, Blueprint Medicines: Yes, yes.

Ren, Host/Analyst, Citizens: Unless you do,

Kate Havlund, CEO, Blueprint Medicines: then you can No, we do not. So again, in the rare disease setting, we don’t believe it’s a good investment to kind of have broad advertisement out there, in venues, those types of venues. So what we do is our team works with, within our team we have very sophisticated expertise, we also work with great partners externally to think about how do we bring forward both disease education and awareness ads, as well as advocate specific ads, and we digitally basically target them. It’s actually wonderful now that a lot of people get their, or watch their TVs through streaming because you, it’s much easier to kind of digitally target folks both on social media as well as through those types of platforms. And there’s a very sophisticated, metrics and tremendous amount of data you can get from that.

And so, you know, our team looks at all of that to say, okay, is this impactful? And we revisit it all the to say, we having the intended effect that we want to have, and then are we seeing at the end result, you can never kind of go one to one, but are we seeing more patients come into physician offices asking about the medicine, and indeed we are. So there’s numerous metrics, obviously that’s the one that is the ultimate metric that we want to be able to continue to monitor and see.

Ren, Host/Analyst, Citizens: Excellent. So in the remaining time we have left, I want to put Fu out on

Kate Havlund, CEO, Blueprint Medicines: the hot seat for a

Ren, Host/Analyst, Citizens: little bit, and then we’ll come back just to some more general questions. You know, it’s the the story isn’t done with just AYVAKIT. You guys have a pipeline, you have elenestinib, you have BLU-eight zero eight. Let’s let’s jump right into BLU-eight 08 if you don’t mind because I think that’s that that’s probably gonna be one of the areas that provides the next kind of level of growth that’s not factored into a lot of our models. Definitely not mine and I I tend to be fairly conservative.

So I’d love to know what’s the what’s the unmet need that BLU-eight zero eight is going after? Because I think of things like, you know, allergy and the first couple of indications that you’re you’re starting off as is, I don’t know, largely treatable, maybe, you know, there’s enough kind of drugs out there. So I guess maybe just start off with the unmet need what eight zero eight is designed to do.

Fuad Nimani, President of Research and Development, Blueprint Medicines: Yeah. I mean if you think of, the allergic process or what we call type two inflammation, the the mast cell is the key effector set in And at the end, ends with the mast cell releasing mediators and starting the the other the allergic process. And people have been trying to block the mast cell for a long period of time. It’s not an easy thing, although we know what the targets are.

I I think we are able at Blueprint with the expertise in terms of biology of the mass cell over the last decade through SM, the way we have been targeting kit, and and the way we develop small molecules to bring eight zero eight to a number of diseases in the type two inflammation space. Now, there there is medical need. There are always medical need until you solve the type of inflammation problems in hundred percent of patients and if you go and look at the totality of the medicines whether they use it in urticaria or in asthma or in AD or improve the patient’s outcome but there are still a large number of patients who do not respond to therapy. And most of these medicines are going through a variety of pathways but none is going directly to the mast cell to block it and stop the influence of all the pathways through the the acting on the mast cell. So we believe there is really great opportunity in a number of diseases.

Some of them, the biology has been de risked in a very clear and established way. Some we are working on de risk in the biology of wild type inhibition in in. So, we’re very excited. We are in a phase where we are doing a number of proof of concept studies to really study that and comes next year, we’ll have more information not only on diseases where the biology is de risked like chronic urticaria for example, but we will have more information on allergic asthma, on allergic rhinitis and conjunctivitis, on MCAS and so on.

Ren, Host/Analyst, Citizens: So I know that you have started, I believe you’ve started some initial clinical studies or plan this quarter, correct me which one it is. We might see some preliminary data by the end of this year. Can you maybe give us a sense or maybe paint a picture, you know, roughly how many patients worth of data might we see? And and what are you looking for, not just from a not just from an efficacy perspective, also from a safety perspective? Because now we’re hitting wild type kiss.

We’ve seen other companies that have shuttered their operations because of safety signals.

Kate Havlund, CEO, Blueprint Medicines: What

Ren, Host/Analyst, Citizens: do you not wanna see for sure? You know, what do you wanna see? So

Fuad Nimani, President of Research and Development, Blueprint Medicines: to your first part of the question, we started actually we opened a couple of studies now, allergic rhinitis and conjunctivitis and chronic urticaria including induced and spontaneous urticaria. Later in the year, second half of the year, we will kick off the asthma study and the MCAS. I mean, this couple of studies are running one with, you know, not open label in open label way. I think assuming the recruitment goes as we hope, it is possible that we have some data before the end of the year. I mean, it’s very difficult to really speculate today on how many patients data we will have by that time, but I think we’ll, as we we we finish the recruitment of patients, they can have more clarity on on on on the data.

But from a data perspective, I think there is something that Blueprint only has the opportunity to do is to set a new bar for what efficacy and safety is for these patients with this type of diseases compared to all the other wild type kit and other targets. These patients, unlike patients in hematology and oncology, are not looking for a complete % complete response rate or remission rate and then stop the drug because they have toxicity, right, after four weeks of treatment. I think spending time with allergists through the ASM program over the last many years, we learned that what patients are looking for is improvement of their symptoms, not at the cost of side effects. And be able to stay on the drug in a compliant way for a long period of time. Because these diseases have exacerbations if you keep windows open for without the treatment.

For us, having a small oral molecule is really we see it as a great advantage in terms of the drug profile because I mean you may run into an AE here and there, you can swiftly manage through with reducing or stopping for a couple of days and resuming or things like that. So I think what we hope to offer with a small molecule like BLU-eight zero eight to patients with type two inflammation is an option that is really the perfect balance between relieving the symptoms without inducing toxicities. The way we are looking at it is through dosing and scheduling. We are looking at multiple doses We’re looking at different schedules, start high, maintain low or titrate to effect in some patients. It’s a completely different approach from what we have been doing as an oncology community hematology.

Ren, Host/Analyst, Citizens: And just just to remind us, I mean this is differentiated, know, through the fact that it’s it’s also an oral molecule. Right? Versus the biologics that are that that are out there, which I think garners a lot of interest. Certainly investor interest. You know, when you when you kind of look at both oral biologic, are you are you kinda competing against biologics?

Do you kinda feel that, you know what, we’ll likely be used in a different, you know, part of the pathway, right, or part of the paradigm compared to biologics? So it’s really gonna exist quite, you know, quite nicely together? How should we

Fuad Nimani, President of Research and Development, Blueprint Medicines: be thinking? I think, I mean, this is, type two inflammation. I mean, I I I remember, if I’m not mistaken, heard, a major company in AD talking about drug penetrated only fourteen percent of patients at JPMorgan. And and and and and I think there are so first, these are like large numbers of patients. It’s not, you know, your five percent of non small cell lung cancer or so.

So there is opportunity for, a lot of medicines together to to really help patients. But I think what we will bring, I think we will really bring, a new paradigm of thinking about the efficacy and the safety that you just cannot have with biologics, just by the nature of the pharmacology of biologics. I think we’re excited to really introduce this notion of small molecule that you can titrate, that you can dose differently, and the patient can manage by themselves, you know, day by day, and be able to really treat for a long period of time patients to prevent exacerbation of their disease. I think that could become a major differentiation with the biologics you are alluding to.

Ren, Host/Analyst, Citizens: Got it. Doctor. Srouley, I’m going to be coming to you with the next question, so after this. As you think about, you know, the five year kind of game plan. Right?

You know, Blueprint always rises to the top of the list as potential m and a takeouts and and and and who wouldn’t want to take you guys out? I mean, you have a growing revenue stream. You’re gonna be cash flow positive. We think by our models either next year or the year after. But you can’t necessarily build your company for m and a.

Right? I mean, if it comes, it comes. Five years from now, if you guys are standalone, how does Blueprint, you know, look to you? You know, what what’s you know, how how many different you know, does the pipeline keep getting getting expanded? You know, is it just elanesinib eight zero eight and AYVAKIT, or are there more things coming behind?

Just a quick

Kate Havlund, CEO, Blueprint Medicines: Yeah, I mean, I think five years from now, know, AYVAKIT and LSN will continue to be growing, eight zero eight will be on the market in certain indications, we’ll probably be exploring more, because it really does have that opportunity to hit so many different, indications. And we have a tremendous amount going on in our discovery team. So I think one of the things that from the very early days is that we continue to invest in discovery, and that team has been more productive than we can bring it forward. And so we’ve put that innovation to other people’s hands at various times and focused on what we think we can do best. And that has continued to to add a tremendous amount of value to to us even this year.

I mean, we we got $80,000,000 from the IDRX transaction, because we put molecules in their hands, that we, you know, had were no longer gonna be a core priority of ours. And so, you know, we we continue we will continue to innovate. We’ll continue to build the pipeline, and, you know, I I think we’ll be, you know, a a that has a lot of growth in the next five years.

Ren, Host/Analyst, Citizens: You put molecules into IDRX, IDRX got acquired by GSK, and you had an

Kate Havlund, CEO, Blueprint Medicines: equity So we gave them our molecules, we took an equity stake because we honestly didn’t need the money upfront and we wanted to support their ability to establish their company, and so when GSK or, when yes. When GSK bought them, was thinking, they, you know, we we we our equity stake, gave us $80,000,000.

Ren, Host/Analyst, Citizens: So Last five seconds. My

Unidentified speaker: my question was exactly when you followed up what I was asking, which was the $2,000,000,000 number in 02/1930. I mean, it seems that that’s only six thousand patients of the twenty five thousand that are diagnosed. That’s still not a high penetration range, especially if you think about the other, you know, the other 25,000 or 30,000 that aren’t even diagnosed.

Kate Havlund, CEO, Blueprint Medicines: That’s right.

Unidentified speaker: Which do you do you focus on trying to help with the diagnose, you know, push on the diagnosis side and just create that bigger market than just capture instead of, you know, ten percent, maybe fifteen percent, twenty percent, or is it really, like, we should be we should be fifty percent of the diagnosed already? You know what

Kate Havlund, CEO, Blueprint Medicines: I mean? Yeah. I mean Which of those

Unidentified speaker: which is the target that you feel is, lower hanging fruit for you guys?

Kate Havlund, CEO, Blueprint Medicines: I mean, I think we really do focus on patients who are currently diagnosed, but in the context of doing that, we also are working on with our translational medicine team, and our commercial team, getting more improved diagnostics out there, blood based diagnostics, to really help facilitate diagnosis over time as well. And so, as much as our commercial team is very much focused on the patients who are diagnosed, we have a medical affairs team, we have great science, we work with our key opinion leaders to try to actually help the SM diagnosis kind of move into the age of modern molecular medicine, because it is driven by a specific mutation. And so we’ve seen about twenty percent increase in the rate of diagnosis of SM, over the last four or five years. And we expect that to continue. So, there’s a lot of the fact of both the work we do directly, but it’s also the idea that you now have something you can do for these patients, and so people are more motivated to pursue a diagnosis.

Ren, Host/Analyst, Citizens: Over $900,000,000 in cash, if I remember right?

Kate Havlund, CEO, Blueprint Medicines: Yeah, just $900,000,000, yep. Excellent.

Fuad Nimani, President of Research and Development, Blueprint Medicines: So

Ren, Host/Analyst, Citizens: Thank you guys very much. Appreciate the time. Let’s thank the presenters.

Kate Havlund, CEO, Blueprint Medicines: Thank you.

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