CAMBRIDGE, Mass., Dec. 6, 2016 /PRNewswire/ -- Blueprint
Medicines Corporation (NASDAQ: BPMC), a leader in discovering and
developing targeted kinase medicines for patients with genomically
defined diseases, today announced that it has commenced an
underwritten public offering of $125,000,000
million 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 of $18,750,000 million in shares of its common stock
in connection with the public offering. All shares of common stock
will be offered by Blueprint Medicines.
Blueprint Medicines expects to use the net proceeds of the
offering to fund the initiation of additional clinical trials of
BLU-285 in advanced gastrointestinal stromal tumors and complete
the expansion stage of its ongoing Phase 1 clinical trial of
BLU-285 in advanced systemic mastocytosis; to fund the initiation
of additional clinical trials of BLU-554 in advanced hepatocellular
carcinoma; to partially fund the clinical development of BLU-667 in
RET-driven cancers; to fund new and ongoing research and
development activities; and the balance, if any, to fund working
capital, capital expenditures and other general corporate
purposes.
Goldman, Sachs & Co., Morgan Stanley and Cowen and Company
are acting as joint book-running managers for the offering. JMP
Securities LLC and Wedbush PacGrow are acting as co-managers for
the offering. The offering is subject to market and other
conditions, and there can be no assurance as to whether or when the
offering may be completed or as to the actual size or terms of the
offering.
A registration statement on Form S-3 (File No. 333-211266)
relating to these securities has been previously filed with and
declared effective by the Securities and Exchange Commission (SEC).
This press release shall not constitute an offer to sell or a
solicitation of an offer to buy, nor shall there be any sale of
these securities in any state or jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such state or
jurisdiction.
The offering will be made only by means of a prospectus. A copy
of the prospectus supplement relating to the offering will be filed
with the SEC and may be obtained, when available, from Goldman,
Sachs & Co. by mail at 200 West Street, New York, NY 10282, Attention: Prospectus
Department, by telephone at (866) 471-2526, or by email at
prospectus-ny@ny.email.gs.com, from Morgan Stanley & Co. LLC at
180 Varick Street, 2nd Floor, New York,
NY 10014, Attention: Morgan Stanley Prospectus Department
and from Cowen and Company, LLC, c/o Broadridge Financial Services,
1155 Long Island Avenue, Edgewood,
NY 11717, Attention: Prospectus Department, by telephone at
(631) 274-2806, or by fax at (631) 254-7140.
About Blueprint Medicines
Blueprint Medicines is developing a new generation of targeted
and potent kinase medicines to improve the lives of patients with
genomically defined diseases. Its approach is rooted in a deep
understanding of the genetic blueprint of cancer and other diseases
driven by the abnormal activation of kinases. Blueprint Medicines
is advancing three programs in clinical development for subsets of
patients with gastrointestinal stromal tumors, hepatocellular
carcinoma and systemic mastocytosis, as well as multiple programs
in research and preclinical development.
Cautionary Note Regarding Forward-Looking Statements
This press release contains forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of
1995, as amended, including, without limitation, statements
regarding Blueprint Medicines' anticipated public offering; future
expectations, plans and prospects for Blueprint Medicines and the
timing of these events; and Blueprint Medicines' strategy, business
plans and focus. The words "may," "will," "could," "would,"
"should," "expect," "plan," "anticipate," "intend," "believe,"
"estimate," "predict," "project," "potential," "continue," "target"
and similar expressions are intended to identify forward-looking
statements, although not all forward-looking statements contain
these identifying words. Any forward-looking statements in this
press release are based on management's current expectations and
beliefs and are subject to a number of risks, uncertainties and
important factors that may cause actual events or results to differ
materially from those expressed or implied by any forward-looking
statements contained in this press release, including, without
limitation, uncertainties related to market conditions and the
completion of the public offering on the anticipated terms or at
all. These and other risks and uncertainties are described in
greater detail in the section entitled "Risk Factors" in Blueprint
Medicines' Quarterly Report on Form 10-Q for the quarter ended
September 30, 2016, as filed with the
SEC on November 10, 2016, the
prospectus supplement related to the public offering and other
filings that Blueprint Medicines may make with the SEC in the
future. Any forward-looking statements contained in this press
release represent Blueprint Medicines' views only as of the date
hereof and should not be relied upon as representing its views as
of any subsequent date. Blueprint Medicines explicitly disclaims
any obligation to update any forward-looking statements.
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SOURCE Blueprint Medicines Corporation