Goodwin’s Life Sciences team advised Blueprint Medicines (NASDAQ: BPMC), on its underwritten public offering of 4,710,144 shares of its common stock at a public offering price of $69.00 per share, before underwriting discounts and commissions. In addition, Blueprint Medicines granted the underwriters a 30-day option to purchase up to an additional 706,521 shares of its common stock at the public offering price, less underwriting discounts and commissions.
Blueprint Medicines is a precision therapy company striving to improve human health. With a focus on genomically defined cancers, rare diseases and cancer immunotherapy, we are developing transformational medicines rooted in our leading expertise in protein kinases, which are proven drivers of disease.
Blueprint Medicines expects to use the net proceeds of the offering to further build its global commercial infrastructure to support additional planned regulatory filings and commercial launches for AYVAKIT and pralsetinib, if approved, in the U.S. and Europe; to fund clinical trials for avapritinib in systemic mastocytosis (SM), including its ongoing registration-enabling Phase 2 PIONEER clinical trial for indolent and smoldering SM, as well as future indication expansion clinical trials; to fund clinical trials for pralsetinib in RET-driven cancers, including its Phase 3 AcceleRET Lung clinical trial for pralsetinib in first-line RET-altered NSCLC and its planned Phase 3 clinical trial for pralsetinib in first-line RET-mutant MTC, as well as future indication expansion clinical trials; to fund its planned Phase 1 trial for BLU-263 in healthy volunteers and future clinical trials for BLU-263 and other future drug candidates; to fund manufacturing costs for AYVAKIT and for ongoing and anticipated drug development efforts for its most advanced drug candidates; and the balance, if any, to fund additional discovery research efforts, its other ongoing and planned clinical trials, working capital requirements and other general corporate purposes.
The Goodwin team was led by Danielle Lauzon, Patricia Mets, Yasin Akbari and Austin Abir (Corporate), and included Theresa Kavanaugh and Miho Kaneko (IP), Julie Tibbets and Steve Tjoe (FDA), Robert Kester and Benjamin Gossels (Tax) and Ettore Santucci (Opinions).
For more details on the offering, please read the press release.