BPMC Q4 Earnings and Sales Miss Estimates, Shares Decline

Core Viewpoint - Blueprint Medicines Corporation (BPMC) reported a wider-than-expected adjusted loss for Q4 2024, with revenues missing estimates but showing significant year-over-year growth driven by Ayvakit sales [1][11]. Financial Performance - The adjusted loss per share for Q4 2024 was $0.79, compared to a loss of$1.82 per share in the same quarter last year [1]. - Quarterly revenues reached $146.4 million, all from Ayvakit sales, falling short of the Zacks Consensus Estimate of$148 million, but representing a 103.4% increase year-over-year [1][11]. - Total revenues for 2024 were $508.8 million, up from$249.4 million in 2023, but slightly below the Zacks Consensus Estimate of $510 million [11]. Product Sales - Ayvakit product revenues amounted to$144.1 million in Q4 2024, with $124.1 million from U.S. sales and$20 million from ex-U.S. sales, reflecting a 102.9% year-over-year increase [4]. - The label expansion of Ayvakit in 2023 to treat indolent systemic mastocytosis (ISM) has increased the eligible patient population, contributing to robust sales growth [5]. Research and Development - R&D expenses totaled $83.6 million, down 14.2$680-$710 million in global Ayvakit net product revenues for 2024 and aims for$2 billion in sales by 2030 [12]. Market Performance - Shares of BPMC fell 8% on February 13 due to the lower-than-expected Q4 results, despite the stock gaining 8.7% over the past year compared to a 2.4% decline in the industry [2][5].