CAMBRIDGE, Mass., March 29, 2017 /PRNewswire/ -- Blueprint
Medicines Corporation (NASDAQ: BPMC), a leader in discovering and
developing targeted kinase medicines for patients with genomically
defined diseases, today announced that it has commenced an
underwritten public offering of $150,000,000 in shares of its common stock. In
addition, Blueprint Medicines expects to grant the underwriters a
30-day option to purchase up to an additional of $22,500,000 in shares of its common stock in
connection with the public offering. All shares of common stock
will be offered by Blueprint Medicines.
Blueprint Medicines expects to use the net proceeds of the
offering to fund clinical trials for BLU-285 in GIST and SM, to
fund clinical trials for BLU-554 in HCC, to fund the completion of
its current Phase 1 clinical trial for BLU-667 in non-small cell
lung cancer, medullary thyroid cancer and other advanced solid
tumors and the initiation of additional clinical trials for BLU-667
in RET-driven cancers, and the balance, if any, to fund working
capital, and other general corporate purposes, including ongoing
research and pre-commercial planning activities. For both BLU-285
and BLU-554, the clinical trials may include the expansion of the
current Phase 1 clinical trials for its targeted indications,
registration clinical trials or indication expansion clinical
trials.
Goldman, Sachs & Co., Morgan Stanley and Cowen and Company
are acting as joint book-running managers for the offering.
Raymond James is acting as
co-manager for the offering. The offering is subject to
market and other conditions, and there can be no assurance as to
whether or when the offering may be completed or as to the actual
size or terms of the offering.
A registration statement on Form S-3 (File No. 333-216573)
relating to these securities has been previously filed with and
declared effective by the Securities and Exchange Commission (SEC).
This press release shall not constitute an offer to sell or a
solicitation of an offer to buy, nor shall there be any sale of
these securities in any state or jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such state or
jurisdiction.
The offering will be made only by means of a prospectus. A copy
of the prospectus supplement relating to the offering will be filed
with the SEC and may be obtained, when available, from Goldman,
Sachs & Co. by mail at 200 West Street, New York, NY 10282, Attention: Prospectus
Department, by telephone at (866) 471-2526, or by email at
prospectus-ny@ny.email.gs.com, from Morgan Stanley & Co. LLC at
180 Varick Street, 2nd Floor, New York,
NY 10014, Attention: Morgan Stanley Prospectus Department
and from Cowen and Company, LLC, c/o Broadridge Financial Services,
1155 Long Island Avenue, Edgewood,
NY 11717, Attention: Prospectus Department, by telephone at
(631) 274-2806, or by fax at (631) 254-7140.
About Blueprint Medicines
Blueprint Medicines is developing a new generation of targeted
and potent kinase medicines to improve the lives of patients with
genomically defined diseases. Its approach is rooted in a deep
understanding of the genetic blueprint of cancer and other diseases
driven by the abnormal activation of kinases. Blueprint Medicines
is advancing four programs in clinical development for subsets of
patients with gastrointestinal stromal tumors, hepatocellular
carcinoma, systemic mastocytosis, non-small cell lung cancer,
medullary thyroid cancer and other advanced solid tumors, as well
as multiple programs in research and preclinical development.
Cautionary Note Regarding Forward-Looking Statements
This press release contains forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of
1995, as amended, including, without limitation, statements
regarding Blueprint Medicines' anticipated public offering; future
expectations, plans and prospects for Blueprint Medicines and the
timing of these events; and Blueprint Medicines' strategy, business
plans and focus. The words "may," "will," "could," "would,"
"should," "expect," "plan," "anticipate," "intend," "believe,"
"estimate," "predict," "project," "potential," "continue," "target"
and similar expressions are intended to identify forward-looking
statements, although not all forward-looking statements contain
these identifying words. Any forward-looking statements in this
press release are based on management's current expectations and
beliefs and are subject to a number of risks, uncertainties and
important factors that may cause actual events or results to differ
materially from those expressed or implied by any forward-looking
statements contained in this press release, including, without
limitation, uncertainties related to market conditions and the
completion of the public offering on the anticipated terms or at
all. These and other risks and uncertainties are described in
greater detail in the section entitled "Risk Factors" in Blueprint
Medicines' Annual Report on Form 10-K for the year ended
December 31, 2016, as filed with the
SEC on March 9, 2017, the prospectus
supplement related to the public offering and other filings that
Blueprint Medicines may make with the SEC in the future. Any
forward-looking statements contained in this press release
represent Blueprint Medicines' views only as of the date hereof and
should not be relied upon as representing its views as of any
subsequent date. Blueprint Medicines explicitly disclaims any
obligation to update any forward-looking statements.
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/blueprint-medicines-announces-proposed-public-offering-of-shares-of-common-stock-300430891.html
SOURCE Blueprint Medicines Corporation