Blueprint Medicines (BPMC) Gavreto Reaches 25% NRX Share - Cowen

Cowen analyst Marc Frahm reiterated an Outperform rating on Blueprint Medicines (NASDAQ: BPMC) noting that Gavreto is now capturing ~25% of RETi NRx. Ayvakit's sNDA in ASM was granted priority review (6/16 PDUFA) and pivotal enrollment for ISM is expected to complete in mid-21.

The analyst stated "Gavreto received FDA approval for use in RET-altered thyroid cancer in December 2020. Gavreto was also added to the NCCN treatment guidelines for medullary and papillary thyroid carcinoma earlier this month. Blueprint's market research indicates that since Gavreto achieved indication parity in December its share of new RET patients has climbed to 25%. Management noted that prescribers are comprised of a mix of academic and community providers and includes many physicians that had never previously prescribed a specific RET inhibitor. Management is particularly pleased with Gavreto's reception among community oncologists who it notes are particularly receptive to the lack of QT prolongation vs. LLY's Retevmo".

For an analyst ratings summary and ratings history on Blueprint Medicines click here. For more ratings news on Blueprint Medicines click here.

Shares of Blueprint Medicines closed at $100.25 yesterday.

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