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Blueprint raises Ayvakit expectations

Gavreto might have disappointed, but Blueprint Medicines was riding high today on impressive sales figures for its other approved medicine, Ayvakit. The therapy was first approved in 2020 for GIST, but revenues really took off after nods in advanced systemic mastocytosis and, last year, the indolent form of that disease. Blueprint today increased its peak Ayvakit sales estimate from $1bn to $2bn, and its stock shot up 14%. Investors are no doubt hoping that big pharma is taking note – with a market cap of just over $5bn, Blueprint would be a fairly large but digestible bolt-on. And the group could have appeal beyond oncology. Indolent mastocytosis is a benign, chronic condition characterised by symptoms such as anaphylaxis, and Blueprint noted today that growing numbers of allergists were prescribing Ayvakit. Systemic mastocytosis is linked with the KIT D816V mutation, which Ayvakit inhibits; Blueprint also has a next-gen project, elenestinib, in phase 2/3, although Cogent (whose stock gained 59% on Tuesday after a $225m private placement) is challenging with bezuclastinib. And all might not be lost for Gavreto: Blueprint said today that it had identified a new partner for when the previous Roche agreement is formally terminated in late February.


$2bn peak? Blueprint's new long-term Ayvakit estimate


Molecular Drug Targets