Swinging Stock: Blueprint Medicines Corporation (NASDAQ: BPMC)

On Monday, Blueprint Medicines Corporation (NASDAQ: BPMC) spotted trading -25.15% off 52-week high price. On the other end, the stock has been noted 72.92% away from the low price over the last 52-weeks. The stock changed 3.81% to recent value of $77.08. The stock transacted 373045 shares during most recent day however it has an average volume of 465.36K shares. The company has 48.88M of outstanding shares and 47.97M shares were floated in the market.

Blueprint Medicines Corporation (BPMC) is hosting its first R&D Day in New York City recently. During the event, Blueprint Medicines will outline its vision to become a leading platform-enabled, fully-integrated, global precision therapy company. The R&D Day presentation will highlight opportunities to expand the reach of the company’s therapeutic candidates to broader patient populations, integrate and scale scientific, clinical and commercial capabilities to build therapeutic area leadership, and fully utilize the company’s scientific platform to design innovative medicines targeting novel kinase biology. In addition, recently the company stated financial results and provided a business update for the quarter ended September 30, 2019.

Third Quarter 2019 Financial Results

Cash Position: As of September 30, 2019, cash, cash equivalents and investments were $594.5M, as contrast to $494.0M as of December 31, 2018. This increase reflects net proceeds of about $327.4M from the company’s follow-on underwritten public offering of ordinary stock, which closed in April 2019, partially offset by cash used in operations. Cash, cash equivalents and investments as of September 30, 2019 do not include the $25.0M upfront payment received in connection with entering into the worldwide license contract with Clementia Pharmaceuticals or an $8.0M research milestone achieved under the Roche collaboration, both of which were earned in October 2019.

Alliance Revenues: Alliance revenues were $9.1M for the third quarter of 2019, as contrast to $1.1M for the third quarter of 2018. This increase was primarily Because of revenue recognized under the CStone and Roche collaborations. During the third quarter of 2019, the company recognized $6.0M in milestone revenue under the CStone alliance contrast to no revenue recognized for the same period in 2018. During the third quarter of 2019, the company recognized $3.1M in revenue under the Roche alliance contrast to $1.1M for the same period in 2018.

R&D Expenses: Research and development expenses were $81.5M for the third quarter of 2019, as contrast to $64.6M for the third quarter of 2018. This increase was primarily Because of increased clinical and manufacturing expenses driven by the company’s lead programs and increased personnel expenses. Research and development expenses included $7.7M in stock-based compensation expenses for the third quarter of 2019.

G&A Expenses: General and administrative expenses were $25.6M for the third quarter of 2019, as contrast to $12.0M for the third quarter of 2018. This increase was primarily Because of increased personnel expenses and increased professional fees for commercial-readiness and other activities. General and administrative expenses included $7.3M in stock-based compensation expenses for the third quarter of 2019.

Net Loss: Net loss was $94.3M for the third quarter of 2019, or a net loss per share of $1.93, as contrast to a net loss of $72.7M for the third quarter of 2018, or a net loss per share of $1.66.

Its earnings per share (EPS) expected to touch remained -37.60% for this year while earning per share for the next 5-years is expected to reach at 22.27%. According to the most recent quarter its current ratio was 5.5 that represents company’s ability to meet its current financial obligations. The price moved ahead of 1.70% from the mean of 20 days, 4.31% from mean of 50 days SMA and performed -5.35% from mean of 200 days price. Company’s performance for the week was 9.54%, 6.92% for month and YTD performance remained 42.98%

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