CAMBRIDGE, Mass., Dec. 11, 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 $275,000,000 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 $41,250,000 in shares
of its common stock in connection with the public offering. All
shares of common stock will be offered by Blueprint Medicines.
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Blueprint Medicines expects to use the net proceeds of the
offering to fund clinical trials for avapritinib (formerly known as
BLU-285) in gastrointestinal stromal tumors and systemic
mastocytosis, to fund clinical trials for BLU-554 in hepatocellular
carcinoma, to fund clinical trials for BLU-667 in RET-driven
cancers, which may include the completion of its current Phase 1
clinical trial for BLU-667 in RET-altered non-small cell lung
cancer, medullary thyroid cancer and other advanced solid tumors,
to fund IND-enabling studies and Phase 1 clinical trials for
BLU-782 in fibrodysplasia ossifcans progressiva, including
manufacturing costs, and the balance, if any, to fund working
capital and other general corporate purposes. For both avapritinib
and BLU-554, the clinical trials may include registration-enabling
clinical trials and indication expansion trials. For avapritinib,
BLU-554 and BLU-667, the clinical trials may include the
development of companion diagnostic tests and manufacturing
costs.
Goldman Sachs & Co. LLC, Morgan Stanley and Cowen are
acting as joint book-running managers for the offering. Canaccord
Genuity 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 the Securities and Exchange Commission (SEC)
and has become effective. 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. LLC 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' Quarterly Report on Form 10-Q for the fiscal
quarter ended September 30, 2017, as
filed with the SEC on October 31,
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.
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SOURCE Blueprint Medicines