The following is excerpted from the question-and-answer section of the transcript.
(Questions from industry analysts are provided in full, but answers are omitted - download the transcript to see the full question-and-answer session)
Question: Reni Benjamin - JMP Securities LLC - Analyst
: Perfect. Now thank you very much for that overview. Let's start off with the obvious, like you guys had quite the exciting week last week and it was
-- we have the general markets and then Blueprint, in particular. So I'd love to just address, I'll call it, the elephant in the room.
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JUNE 16, 2022 / 4:30PM, BPMC.OQ - Blueprint Medicines Corp at JMP Securities Life Sciences Conference
(Virtual)
First was the changing of the primary endpoint, right? And investors in general, they tend to -- they just tend to frown on any sort of changes in a
pivotal study. Can you talk us through a little bit of how this came about, why it kind of happened? And then ultimately, does this change impact
the label in any way? Do you suddenly wind up becoming a more restricted patient population or a broader patient population?
Question: Reni Benjamin - JMP Securities LLC - Analyst
: So let's assume PIONEER study is successful. We have a high probability of successes as well based on the mechanism of action of the drug, as well
as the underlying genetic drivers. Can you talk to us a little bit about the market opportunity? Because that's now the new big debate. And we've
had these debates whenever we're going after kind of like new indications, right? Is the patient population really there? Can you talk us through
that space just based on your dialogue with key opinion leaders, the advisory boards? Any other research that you're doing?
And then also, the other debate is how pricing might ultimately be decided, right? Is it -- are you going to maintain a flat-based pricing like you
have with avapritinib for advanced SM or is there going to be a change?
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JUNE 16, 2022 / 4:30PM, BPMC.OQ - Blueprint Medicines Corp at JMP Securities Life Sciences Conference
(Virtual)
Question: Reni Benjamin - JMP Securities LLC - Analyst
: So you're probably too young to remember this. Old timers like me remember the dialogue with ruxolitinib way back when, when MF was first
being targeted. And we kind of saw how that evolved. But I feel like it was a lot of the same discussions. People -- investors were really harping on,
do we even have these patients, right? Or is this opportunity real? And what we saw was that opportunity to grow significantly over time.
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JUNE 16, 2022 / 4:30PM, BPMC.OQ - Blueprint Medicines Corp at JMP Securities Life Sciences Conference
(Virtual)
Question: Reni Benjamin - JMP Securities LLC - Analyst
: Can you settle the bet on pricing? That was the other question that I had that I forgot.
Question: Reni Benjamin - JMP Securities LLC - Analyst
: Got it. So we have about five minutes left. I definitely want to hit Percy up on one of the questions, but the final one with advanced SM. A competitor
came out with data last week. That also seemed to impact investors. And then also, you're already on the market for advanced SM, right? You have
full approval, which I think people miss. Can you take us through A, your thoughts on the competitive landscape, and then also how the launch is
going? We're almost done with the second quarter.
Question: Reni Benjamin - JMP Securities LLC - Analyst
: Great. So PIONEER is clearly the main value driver in our view, right, that's coming up. But behind that, you have a very, very impressive pipeline.
And I think one of the things that also investors need to acknowledge is that you have a platform that's not just done it once. It has done it twice.
And you've taken it from discovery all the way to commercialization.
And so when we started looking at the pipeline, we had a KOL conversation yesterday. They were talking about osimertinib as the wonder drug.
And -- but still there are limitations. And you guys now have a pipeline that is addressing some of those things. And I'd love to kind of get your take
obviously on what's the opportunity there. What's the typical treatment paradigm, and what BLU-701 and 945, where they ultimately will fit?
Question: Reni Benjamin - JMP Securities LLC - Analyst
: Perfect. In 15 seconds, your cash position and the runway.
Question: Reni Benjamin - JMP Securities LLC - Analyst
: Excellent. Christy, Percy, thank you guys very much. Really appreciate it. Thank you.
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