Stock Alert: Blueprint Medicines Jumps 10%

(RTTNews) - Shares of drugmaker Blueprint Medicines Corporation (BPMC) are climbing more than 10% Tuesday morning after reporting positive topline results from phase I Explorer study and phase II Pathfinder study of Ayvakit (avapritinib) in patients with advanced systemic mastocytosis.

Consistent with previously reported Explorer study results, the registrational data for Ayvakit showed profound reductions in mast cell burden, high overall response and complete remission rates, and durable clinical benefit, including prolonged median overall survival.

Blueprint Medicines plans to submit a supplemental new drug application (sNDA) to the FDA for Ayvakit for the treatment of advanced systemic mastocytosis in the fourth quarter of 2020.

systemic mastocytosis is a rare, debilitating disease driven by the KIT D816V mutation causing uncontrolled mast cell proliferation.

BPMC stock is currently trading at $85.20, near to its 52-week high of $87.43.