BPMC - Why Shares of Blueprint Medicines Are Falling Wednesday
2023-08-02 13:00:51 ET
Shares of Blueprint Medicines (NASDAQ: BPMC) were down more than 12% as of 12:45 p.m. on Wednesday after the healthcare company announced second-quarter earnings. The stock is still up more than 27% so far this year.
Blueprint focuses on precision medicine to fight cancer and hematologic disorders. The company released second-quarter earnings and the numbers were generally positive. The company said that revenue, driven by increased sales from Ayvakit (Ayvakyt overseas) was $57.6 million, compared to $36.5 million in the same period last year.
Blueprint also narrowed its losses to $132.8 million, or an earnings per share (EPS) loss of $2.19, compared to a net loss of $159.7 million for the second quarter of 2022, or an EPS loss of $2.68. Analysts had expected an EPS loss of $2.54, so it was a slight earnings surprise.
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Why Shares of Blueprint Medicines Are Falling Wednesday