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Blueprint wins key FDA approval for rare disease drug

May 23, 2023


The launch of Ayvakit in indolent systemic mastocytosis, or ISM, is being closely watched by investors and analysts.

Blueprint brought two drugs to market in recent years — Ayvakit and the cancer drug Gavreto — and since expanded use of each. But neither are big sellers, and the company still isn’t making money.

The biotech recorded a net loss of about $558 million last year on $111 million in net drug sales. And though it held nearly $1 billion in cash on its balance sheet at the end of the last quarter, Blueprint’s “high burn rate has been an overhang,” wrote Stifel analyst Bradley Canino earlier this month.

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