Blueprint Medicines Corporation (BPMC) saw its loss widen to $27.98 million, or $0.84 a share for the quarter ended Mar. 31, 2017. In the previous year period, the company reported a loss of $15.50 million, or $0.57 a share. Revenue during the quarter dropped 14.82 percent to $5.84 million from $6.86 million in the previous year period.
Operating loss for the quarter was $28.33 million, compared with an operating loss of $15.42 million in the previous year period.
“In the first quarter of 2017, we expanded our clinical-stage portfolio of drug candidates with the dosing of the first patient in our Phase 1 trial of BLU-667, a selective RET inhibitor that addresses both primary and predicted resistance mutations, while also progressing our ongoing Phase 1 trials of BLU-554 and BLU-285,” said Jeff Albers, chief executive officer of Blueprint Medicines. “Our recent financing in April further strengthened our balance sheet, and we believe that we are well positioned to continue advancing our robust pipeline, including three clinical-stage drug candidates and multiple discovery programs, through important milestones. We look forward to presenting updated Phase 1 data for BLU-285 in GIST and systemic mastocytosis and BLU-554 in hepatocellular carcinoma later this year, which will help inform and guide our future development efforts for these programs.”
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