Blueprint Medicines Corporation (BPMC - Free Report) announced that it has entered into a global collaboration agreement with Genentech, a subsidiary of Roche (RHHBY - Free Report) , to develop/commercialize the precision therapy, pralsetinib, of the former.
The candidate is being developed for treating patients with RET-fusion non-small cell lung cancer (NSCLC), RET-mutant medullary thyroid cancer (MTC), other thyroid cancers as well as other solid tumors.
Per the deal, Blueprint Medicines will receive an upfront payment of $775 million (cash payment of $675 million and an equity investment of $100 million) from Roche. The company will also receive up to an additional fee of $927 million in development, regulatory and sales-based milestones. Moreover, it is entitled to receive tiered royalties in the range of high-teens to mid-twenties on net sales of pralsetinib outside the United States.
Going by the agreement, Blueprint Medicines along with Roche will co-commercialize pralsetinib and equally share profits in the United States while the latter will get exclusive commercialization rights to pralsetinib in ex-U.S. markets excluding Greater China. Both companies plan to expand the development of pralsetinib in multiple treatment settings.
The press release states that the above-mentioned collaboration deal with Roche will help Blueprint Medicines transform into a leading precision medicine company, investing in pipeline candidates with a strong financial position.
In March 2016, Blueprint Medicines inked a collaboration deal with Roche to discover, develop and commercialize up to four small-molecule therapies, targeting kinases in cancer immunotherapy, either as monotherapies or combination therapies.
Notably, CStone Pharmaceuticals will retain all the rights to develop/commercialize pralsetinib in Greater China.
Shares of Blueprint Medicines were up in pre-market trading on Tuesday following the announcement of the aforementioned deal. However, the stock has declined 4.3% so far this year against the industry’s increase of 6.7%.
Earlier this month, Blueprint Medicines submitted a new drug application (NDA) to the FDA for pralsetinib to address patients with advanced or metastatic RET mutant MTC as well as RET fusion-positive thyroid cancers.
In May 2020, Blueprint Medicines filed an NDA to the FDA as well as marketing applications in the EU for pralsetinib to address RET fusion-positive NSCLC.
Zacks Rank & Other Stocks to Consider
Blueprint Medicines currently carries a Zacks Rank #2 (Buy). Other top-ranked stocks in the healthcare sector include Emergent Biosolutions Inc. (EBS - Free Report) and BioMarin Pharmaceutical Inc. (BMRN - Free Report) , both presently sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Emergent’s earnings estimates have been revised 26.7% upward for 2020 and 29.8% for 2021 over the past 60 days. The stock has soared 69.2% year to date.
BioMarin’s earnings estimates have moved 3.3% north for 2020 and 13.4% for 2021 over the past 60 days. The stock has surged 47.1% year to date.
5 Stocks Set to Double
Each was hand-picked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2020. Each comes from a different sector and has unique qualities and catalysts that could fuel exceptional growth.
Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.
Today, See These 5 Potential Home Runs >>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
Blueprint Medicines Corporation (BPMC - Free Report) announced that it has entered into a global collaboration agreement with Genentech, a subsidiary of Roche (RHHBY - Free Report) , to develop/commercialize the precision therapy, pralsetinib, of the former.
The candidate is being developed for treating patients with RET-fusion non-small cell lung cancer (NSCLC), RET-mutant medullary thyroid cancer (MTC), other thyroid cancers as well as other solid tumors.
Per the deal, Blueprint Medicines will receive an upfront payment of $775 million (cash payment of $675 million and an equity investment of $100 million) from Roche. The company will also receive up to an additional fee of $927 million in development, regulatory and sales-based milestones. Moreover, it is entitled to receive tiered royalties in the range of high-teens to mid-twenties on net sales of pralsetinib outside the United States.
Going by the agreement, Blueprint Medicines along with Roche will co-commercialize pralsetinib and equally share profits in the United States while the latter will get exclusive commercialization rights to pralsetinib in ex-U.S. markets excluding Greater China. Both companies plan to expand the development of pralsetinib in multiple treatment settings.
The press release states that the above-mentioned collaboration deal with Roche will help Blueprint Medicines transform into a leading precision medicine company, investing in pipeline candidates with a strong financial position.
In March 2016, Blueprint Medicines inked a collaboration deal with Roche to discover, develop and commercialize up to four small-molecule therapies, targeting kinases in cancer immunotherapy, either as monotherapies or combination therapies.
Notably, CStone Pharmaceuticals will retain all the rights to develop/commercialize pralsetinib in Greater China.
Shares of Blueprint Medicines were up in pre-market trading on Tuesday following the announcement of the aforementioned deal. However, the stock has declined 4.3% so far this year against the industry’s increase of 6.7%.
Earlier this month, Blueprint Medicines submitted a new drug application (NDA) to the FDA for pralsetinib to address patients with advanced or metastatic RET mutant MTC as well as RET fusion-positive thyroid cancers.
In May 2020, Blueprint Medicines filed an NDA to the FDA as well as marketing applications in the EU for pralsetinib to address RET fusion-positive NSCLC.
Zacks Rank & Other Stocks to Consider
Blueprint Medicines currently carries a Zacks Rank #2 (Buy). Other top-ranked stocks in the healthcare sector include Emergent Biosolutions Inc. (EBS - Free Report) and BioMarin Pharmaceutical Inc. (BMRN - Free Report) , both presently sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Emergent’s earnings estimates have been revised 26.7% upward for 2020 and 29.8% for 2021 over the past 60 days. The stock has soared 69.2% year to date.
BioMarin’s earnings estimates have moved 3.3% north for 2020 and 13.4% for 2021 over the past 60 days. The stock has surged 47.1% year to date.
5 Stocks Set to Double
Each was hand-picked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2020. Each comes from a different sector and has unique qualities and catalysts that could fuel exceptional growth.
Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.
Today, See These 5 Potential Home Runs >>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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