BPMC - Blueprint slips as FDA imposes partial clinical hold on cancer trial

• Blueprint Medicines ( NASDAQ: BPMC ) shed ~2% pre-market Friday after announcing that the FDA placed a partial clinical hold on its Phase 1/2 VELA trial for cancer candidate BLU-222.
• According to verbal communication from the agency, the decision followed transient, reversible visual adverse events of light sensitivity and blurred vision seen in certain patients in the study.
• “All events resolved with dose interruption or reduction,” Blueprint ( BPMC ) said, adding that the company continues to dose the currently enrolled patients in the VELA trial. Still, no new patients will be enrolled until the clinical hold is resolved.
• The Phase 1 dose escalation portion of the VELA trial is currently in progress, and the company continues to expect initial dose escalation data from the study in H1 2023.
• Seeking Alpha contributor, Avisol Capital Partners issued a Buy rating on Blueprint ( BPMC ) in December, noting that the stock was trading near 52-week lows.

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