BPMC - Blueprint Medicines Corporation (BPMC) Q1 2024 Earnings Call Transcript

2024-05-02 13:42:09 ET

Blueprint Medicines Corporation (BPMC)

Q1 2024 Earnings Conference Call

May 02, 2024 08:00 AM ET

Company Participants

Jenna Cohen - Vice President-Investor Relations

Kate Haviland - Chief Executive Officer

Philina Lee - Chief Commercial Officer

Fouad Namouni - President-Research & Development

Mike Landsittel - Chief Financial Officer

Christy Rossi - Chief Operating Officer

Becker Hewes - Chief Medical Officer

Conference Call Participants

Brad Canino - Stifel

Marc Frahm - TD Cowen

Laura Prendergast - Raymond James

Reni Benjamin - Citizens JMP

Derek Archila - Wells Fargo

Peter Lawson - Barclays

Matt Biegler - Oppenheimer

Ami Fadia - Needham

Colleen Kusy - Baird

Presentation

Operator

Good morning. My name is Faye, and I'll be your conference operator today. At this time, I would like to welcome everyone to the Blueprint Medicines First Quarter 2024 Financial Results Conference Call. All lines have been on placed on mute to prevent any background noise. After the speakers' remarks, there will be a question-and-answer session. [Operator Instructions]

Thank you. Jenna Cohen, you may begin your conference.

Jenna Cohen

Thanks Faye and good morning everyone. Welcome to Blueprint Medicines first quarter 2024 financial and operating results conference call. This morning. we issued a press release which outlines the topics we plan to discuss today. You can access the press release, as well as the slides that will be reviewing today by going to the Investors section of our website at www.blueprintmedicines.com.

Joining me today are Kate Haviland, Chief Executive Officer; Philina Lee, Chief Commercial Officer; Fouad Namouni, President, Research and Development; and Mike Landsittel, Chief Financial Officer. Christy Rossi, Chief Operating Officer; and Becker Hewes, Chief Medical Officer are also on the line and available during Q&A.

Before we begin, I'd like to remind you that some of the statements made during the call today are forward looking statements as outlined on slide three and are subject to a number of risks and uncertainties. These that may cause our actual results to differ materially including those described in our reports filed with the SEC. You are cautioned not to place any undue reliance on these forward-looking statements and we print disclaims any obligation to update such statements.

I'll now hand the call over to Kate.

Kate Haviland

Thank you, Jenna and good morning everyone. We delivered another very strong quarter and our launch of AYVAKIT in indolent systemic mastocytosis. And we are entering 2024 in a position of strength. We have great momentum across all aspects of our business, as we execute on our three priorities that we laid out in January. Our first priority is the launch of AYVAKIT and indolent systemic mastocytosis. We have driven impressive revenue growth. And importantly, we are building the foundation for top line revenue growth well into the next decade.

We are also making significant progress in advancing our pipeline of innovative programs that are focused in our most compelling opportunities, where we believe we have the greatest prospect of improving patient outcomes. And third, we are maintaining a strong and durable financial position in a self-sustainable financial profile.

I'll briefly touch on each of these. Starting with the exceptionally strong commercial performance we delivered in Q1, we achieved $92.5 million in EBITDA net product revenue for the quarter. This results surpassed external consensus, as well as our own internal expectations. Philina and we'll discuss in more detail the components of our continued commercial success, but I want to take a moment to say how incredibly proud I am of our hard-working and dedicated commercial and medical team members. Their commitment to delivering for patients with SM globally is resulting in this type of performance....

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