BPMC - Blueprint surges after announcing pipeline progress

Blueprint Medicines ([[BPMC]] +8.3%) is trading higher today after the company shared updates on its clinical portfolio as part of the Q4 2020 earnings announcement.Cambridge, MA-based firm said that the FDA accepted its supplemental new drug application for AYVAKIT for advanced systemic mastocytosis.With the priority review status, the FDA action date is June 16, 2021, under the Prescription Drug User Fee Act.The company also unveiled a new research program that selectively targets CDK2, a kinase involved in driving multiple cancers.CDK2, a cyclin-dependent kinase is activated by its regulatory partner Cyclin E which in the event of dysregulation is associated with multiple malignancies and is said to be involved in the resistance to targeted therapies, including CDK4/6 inhibitors.Despite a ~33.8% YoY decline in Q4 2020 revenue, Blueprint’s top-line for the full year has expanded nearly 12 times to reach ~$793.7M, nearly doubling the year-end cash and equivalents from 2019 towards ~$1.5B.

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Blueprint surges after announcing pipeline progress