Type of information: Private placement
Company: Blueprint Medicines (USA - MA)
Amount: $325.5 million
Funding type: private placement
- 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.
- • On December 15, 2017, Blueprint Medicines announced the closing of its previously announced underwritten public offering of 4,259,259 shares of its common stock at a public offering price of $81.00 per share, including the exercise in full by the underwriters of their option to purchase additional shares of common stock. Blueprint Medicines estimates net proceeds from the offering will be approximately $325.5 million, after deducting underwriting discounts and commissions and estimated offering expenses.
- • On December 12, 2017,Blueprint Medicines Corporation nnounced the pricing of an underwritten public offering of 3,703,704 shares of its common stock at a public offering price of $81.00 per share, before underwriting discounts and commissions. In addition, Blueprint Medicines has granted the underwriters a 30-day option to purchase up to an additional 555,555 shares of its common stock at the public offering price, less underwriting discounts and commissions.
- The offering is expected to close on December 15, 2017, subject to the satisfaction of customary closing conditions.
- • On December 10, 2017, Blueprint Medicines 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.
- 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.