BPMC - Blueprint Medicines sets 2022 revenue guidance below expectations
Blueprint Medicines (BPMC -9.1%) is trading sharply lower in the morning hours on Wednesday after the company initiated a lower-than-expected revenue guidance for 2022. Announcing its Q4 2021 results, Blueprint (NASDAQ:BPMC) reported $107M in quarterly revenue, including $20.0M net product revenues from sales of systemic mastocytosis (SM) drug, AYVAKIT, and $87M in collaboration revenue. Revenue for the full year reached $180.1M after AYVAKIT sales netted $53M product revenue and collaboration revenues stood at $122.4M. However, driven by the commercialization of AYVAKIT/AYVAKYT, the SG&A expenses rose ~28% and ~24% YoY to $54.2M and $195.3M in Q4 2021 and full year, respectively. Meanwhile, the net loss for the quarter expanded ~272% YoY to $318.7M, while that for the year stood at $644.1M from $13.9M of net income in the previous year. Notable catalysts for this year include the European launch of AYVAKYT for SM in Q2 and a mid-2022 topline data readout
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Blueprint Medicines sets 2022 revenue guidance below expectations