Blueprint Medicines Corporation

Good morning and welcome to the Blueprint Medicines conference call. At this time, all participants are in listen-only mode. Following the formal remarks, we will open the call up for your questions. Please be advised that this call is being recorded. At this time, I'd like to turn it over to Jenna Cohen, Head of Investor Relations at Blueprint Medicines. Please proceed.

thank you operator good morning everyone welcome to blueprint medicine's fourth quarter and full year 2022 financial and operating results conference call this morning we issued a press release which outlines the topics we plan to discuss today you can access the press release as well as the slides that we'll be reviewing today by going to the investor section of our website at www.blueprintmedicines.com today on our call kate haviland our chief executive officer will provide a perspective on Blueprint's 2022 accomplishments and how that positions us to continue to grow and drive value in 2023. Felina Lee, our Chief Commercial Officer, will review Avakit's performance and our upcoming opportunity to expand the label and treat many more patients with SM. Christy Rossi, Chief Operating Officer, will provide a preview of how we will further our SM leadership at Quad AI, as well as touch on portfolio milestones for the year, and Mike Lansdell, our Chief Financial Officer, will review our fourth quarter 2022 financial results and 2023 guidance. Suad Namuni, President of Research and Development, and Becker Hughes, Chief Medical Officer, are also joining our call and will be available for Q&A. Before we get started, I would like to remind everyone that the statements we make on this conference call will include forward-looking statements. Actual events or results could differ materially from those expressed or implied by any forward-looking statements. as a result of various risks, uncertainties, and other factors, including those set forth in the risk factor section of SEC filings. In addition, any forward-looking statement made on this call represents our views only as of today and should not be relied upon as representing our views as of any subsequent days. We specifically disclaim any obligation to update or revise any forward-looking statements. I'll now hand the call over to Kate.

Thank you, Jenna. Good morning, everyone, and thank you for joining the call today. In 2022, we significantly advanced our business, making important progress across our Avra kit launch and advanced systemic mastocytosis and research and development execution on our portfolio of precision therapies. As we kick off 2023, Blueprint offers a compelling value proposition and a unique profile. I would like to highlight three of the most important components of that position that positions us well for substantial growth this year and beyond. The first is our leadership in systemic mastocytosis. In 2022, our first full year of Avakit launch in Advanced SM, we doubled our net product revenue year over year. The U.S. accounted for the majority of these product sales, and in 2023, we will see our international launches in Advanced SM gaining momentum as we work through the access and reimbursement process in key countries. Importantly, through the launch of Avakit in Advanced SM, We have built a strong team and a foundation of commercial capabilities and infrastructure. We are ready now to scale the impact of Avakit with our potential label expansion in ISM. Felina will go into more detail on Avakit's performance in 2022 and preview how we plan to build what will become a blockbuster therapeutic category through our anticipated launch in ISM mid-year. The second component is our clinical stage pipeline focused on best-in-class investigational Our development efforts are focused in mast cell disorders, lung cancer, and breast cancer. Within these areas, each of our programs has a strong mechanistic rationale and a development strategy to achieve a first or best in class position. In 2022, we work to build the foundation for these programs through dose escalation and dose optimization. And we are poised this year to rapidly advance these programs into earlier lines of treatment where we have the greatest opportunity to impact significant medical needs. We also continue to broaden our discovery efforts, expanding the range of high-value targets we can pursue as we aim to increase our already impressive research productivity, most recently demonstrated by the announcement of our new research program targeting wild-type kit for common mast cell diseases adjacent to systemic mastocytosis, including chronic urticaria. The third and last component is that we are operating from a position of financial strength. Our strong cash position and disciplined approach to capital allocation ensures that we are well positioned to execute on the range of opportunities we have in front of us while driving towards a sustainable financial profile. Today, we have greater than $1 billion in cash on our balance sheet, and we are growing product revenue. which will continue to become a more significant portion of overall revenue this year. Mike will go into our financial performance in more depth later on in the call. At Blueprint, we have an incredible growth story right in front of us in 2023 and beyond. We call this precision at scale. This story starts with our existing commercial portfolio, which provides a certainty of value and a near-term opportunity to drive revenue acceleration. Beyond SM, our discovery and clinical stage portfolios provide multiple opportunities for us to tackle increasingly large opportunities in oncology and beyond. This diversity of fundamental value drivers creates multiple avenues for growth and upside across all aspects of our business. As a fully integrated company, we have critical mass, including the expertise, the infrastructure, And most importantly, the right people to deliver on these opportunities, creating extraordinary value for patients, the medical community, and for our shareholders. Now, let me turn it over to Felina to review Avakit's performance and provide a perspective on the upcoming ISM launch.