Site icon Warrior Trading News

Blueprint Medicines Corporation | $BPMC Stock | Shares Increase On Positive Phase 1 Clinical Trial Results Of BLU-285

Blueprint Medicines Corporation (NASDAQ: BPMC)

 

 

Blueprint Medicines Corporation (BPMC), a biopharmaceutical company yesterday announced positive results from its Phase 1 clinical trial of BLU-285. BLU-285 is used for the treatment of patients with gastrointestinal stromal tumors. The study showed tumor reduction for some patients at the higher dosage levels which is promising as it may lead to increased clinical activity for continued dose escalation.

 

Blueprint Medicines Corporation CMO’s Comments

“These data help to validate Blueprint Medicines’ ability to craft targeted kinase inhibitors and to achieve rapid proof-of-concept for our investigational therapies in genomically-defined populations,” said Andy Boral, M.D., Chief Medical Officer at Blueprint Medicines. “We are encouraged by the early evidence of clinical activity, with the majority of patients achieving stable disease or a partial response, and some patients having durable tumor reduction lasting at least eight months. I am also pleased that BLU-285 has been well-tolerated to date and that the pharmacokinetic profile supports once daily dosing. We continue to believe that BLU-285 has the potential to significantly impact the treatment paradigm for patients with GIST.”   PR Newswire

 

BPMC Technical Analysis

BPMC opened trading yesterday at $30.07 which was down from the previous day’s trading close of $30.34. BPMC closed trading yesterday at $29.37 and spiked up after market to $32.99, equivalent to a 12% increase from the closing price. Taking a look at the daily chart we can see that the last time BPMC traded above these levels we have to go back to the November 28th when it traded $35.50. Taking a closer look at the daily chart we can see that before the spike up BPMC had already been in an overall upward trend dating back to August 2nd when it traded at $20.89. BPMC has a float of 18.25 million shares and traded 1.20 times the normal daily trading volume on Wednesday. For trading purposes, I would like to see BPMC open trading on Thursday above $31.80 and if it does I would be looking to take a long position at the bell. My stop loss would be $0.30 from my entry position fearing anything more than that and the stock would start to fill in the gap up. My friend Ross over at Warrior Trading is applying his Day Trading Strategies to these types of stocks.

 

Company Profile

Blueprint Medicines Corporation, a biopharmaceutical company, develops drugs of small molecule kinase inhibitors that target genomic drivers in various cancers and rare genetic diseases. Its lead drug candidates include BLU-285, which targets KIT Exon 17 mutants and PDGFRa D842V, abnormally active receptor tyrosine kinase mutants for patients with systemic mastocytosis, a myeloproliferative disorder of the mast cells, and defined subsets of patients with gastrointestinal stromal tumor; and BLU-554, an orally available, potent, selective, and irreversible inhibitor of the kinase FGFR4. It is also developing BLU-667, a drug candidate that targets RET, a receptor tyrosine kinase that can become abnormally activated by mutations or translocations; and RET resistant mutants that would arise from treatment with first generation therapies, as well as candidates as inhibitors of neurotrophic tyrosine receptor kinase (NTRK) and predicted NTRK resistant mutants. In addition, the company is developing programs that target oncology and rare genetic diseases. The company has agreement with Alexion Pharma Holding to research, develop, and commercialize drug candidates for an undisclosed activated kinase target, which is the cause of a rare genetic disease. The company was formerly known as Hoyle Pharmaceuticals, Inc. and changed its name to Blueprint Medicines Corporation in June 2011. Blueprint Medicines Corporation was founded in 2008 and is headquartered in Cambridge, Massachusetts.  Yahoo Finance

 

 

IMAGE CREDIT

Exit mobile version