Blueprint Medicines lead drug flunks study

Blueprint Medicines (NASDAQ:BPMC) slumps 15% premarket in reaction to its announcement that a Phase 3 clinical trial, VOYAGER, evaluating lead candidate avapritinib, branded as Ayvakit, in patients with unresectable/metastatic gastrointestinal stromal tumor (GIST) failed to achieve the primary endpoint of demonstrating an improvement in progression-free survival (PFS) compared to Bayer’s (OTCPK:BAYRY) Stivarga (regorafenib).

No new safety signals were observed.

The company plans to continue to commercialize Ayvakit in the U.S. for adults with unresectable or metastatic GIST harboring a PDGFRA exon 18 mutation, including PDGFRA D842V mutations, and seek marketing approval for avapritinib for the treatment of this patient population in additional geographies.

It continues to believe that its current level of quick assets should be sufficient to fund operations into H2 2022.

Management will host a live webcast at 8:00 am ET this morning to discuss the results.

The news is proving positive for Deciphera Pharma (NASDAQ:DCPH), whose lead candidate riprentinib, awaiting the FDA nod for GIST. Shares are up 16% premarket.

https://seekingalpha.com/news/3565197-blueprint-medicines-lead-drug-flunks-gist-study-shares-down-15-premarket