Full Press Release Details
| Exhibit 99.1 |
| Blueprint Medicines Reports Third Quarter 2015 Financial Results Initiated Phase 1 clinical trial for BLU-285 for the treatment of unresectable, treatment-resistant gastrointestinal stromal tumors Initiated Phase 1 clinical trial for BLU-554 for the treatment of advanced hepatocellular carcinoma and cholangiocarcinoma Received U.S. Food and Drug Administration (FDA) authorization to proceed with Phase 1 clinical trial for BLU-285 in advanced systemic mastocytosis |
Blueprint Medicines Corporation
Selected Condensed Balance Sheet Data
| September 30, | December 31, | |||||
| 2015 | 2014 | |||||
| Cash and cash equivalents | $ | 179,780 | $ | 47,240 | ||
| Unbilled accounts receivable | 2,470 | |||||
| Working capital (1) | 169,296 | 41,510 | ||||
| Total assets | 195,288 | 49,925 | ||||
| Deferred revenue | 14,861 | |||||
| Term loan payable | 7,871 | 9,042 | ||||
| Lease i ncentive o bligation | 4,093 | |||||
| Warrant liability | 365 | |||||
| Convertible preferred stock | 114,811 | |||||
| Total stockholders' equity (deficit) | 158,142 | (79,382) | ||||
| (1) Blueprint Medicines defines working capital as current assets less current liabilities. |
Blueprint Medicines Corporation
Condensed Statements of Operations Data
(in thousands, except per share data)
| Three Months Ended | Nine Months Ended | |||||||||||
| September 30, | September 30, | |||||||||||
| 2015 | 2014 | 2015 | 2014 | |||||||||
| Collaboration revenue | $ | 3,426 | $ | $ | 6,765 | $ | ||||||
| Operating expenses: | ||||||||||||
| Research and development | 11,681 | 8,368 | 32,157 | 20,511 | ||||||||
| General and administrative | 4,222 | 1,921 | 10,832 | 4,929 | ||||||||
| Total operating expenses | 15,903 | 10,289 | 42,989 | 25,440 | ||||||||
| Other income (expense): | ||||||||||||
| Other income (expense), net | 6 | (94) | (435) | (75) | ||||||||
| Interest expense | (171) | (120) | (535) | (302) | ||||||||
| Total other income (expense) | (165) | (214) | (970) | (377) | ||||||||
| Net loss | $ | (12,642) | $ | (10,503) | $ | (37,194) | $ | (25,817) | ||||
| Convertible preferred stock dividends | (1,313) | (3,153) | (3,860) | |||||||||
| Net loss applicable to common stockholders | $ | (12,642) | $ | (11,816) | $ | (40,347) | $ | (29,677) | ||||
| Net loss per share applicable to common stockholders basic and diluted | $ | (0.47) | $ | (8.13) | $ | (2.64) | $ | (21.65) | ||||
| Weighted-average number of common shares used in net loss per share applicable to common stockholders basic and diluted | 26,835 | 1,453 | 15,298 | 1,371 |
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