Blueprint Medicines Corporation

Good morning, ladies and gentlemen. My name is Glenn. I'll be your conference operator today. At this time, I would like to welcome everyone to the Blueprint Medicine Second Quarter 2023 Financial Results Conference Call. All nine have been placed on mute to prevent any background noise. After the speaker's remarks, there will be a question and answer session. If you'd like to ask a question during this time, simply press star followed by the number one on a telephone keypad. If you would like to withdraw your question, press followed by two on the telephone keypad. Please plan to limit yourself to one question. I will now turn it to Jenna Cohen, Vice President of Investor Relations, to begin.

Thank you, Glenn. Good morning, everyone, and welcome to Blueprint Medicine's second quarter 2023 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. Joining me today are Kate Haviland, Chief Executive Officer, Felina Lee, Chief Commercial Officer, Suadna Mooney, President, Research and Development, and Mike Lansdell, Chief Financial Officer. Christy Rossi, Chief Operating Officer, and Becker Hughes, Chief Medical Officer will also be available for Q&A. Before we begin, I'd like to remind you that some of the statements made during the call today are forward-looking statements as outlined on slide three and are subject to a number of risks and uncertainties. These may cause our actual results to differ materially, including those described in our reports filed with the SEC. Your caution not to place any undue reliance on these forward-looking statements and Blueprint disclaims any obligation to update such statements. I'll now hand the call over to Kate.

Thank you, Jenna, and good morning, everyone. In the second quarter, we entered a new era of blueprint medicines, which we call precision at scale. This inflection is driven by the significant near-term growth opportunity for Avakit with the recent FDA approval and ISM. With Avakit, ISM patients now have the first and only medicine approved to treat their disease, and importantly, a medicine that was specifically designed to stop ISM at its source. The launch is off to a great start and Felina will provide more color on our commercial results and key launch metrics shortly. Importantly, everything we are seeing in these early days of launch demonstrates that the market for Avakit is a blockbuster opportunity that we estimate to be more than $1.5 billion at peak. Our Q2 launch momentum has continued into the second half of this year, and Avakit is on track to become the durable market leader across the spectrum of both advanced and indolent SM for years to come. At Blueprint Medicines, we have developed a deep knowledge of SM that will allow us to extend and enhance our leadership in this area as we define the direction of innovation going forward. In ISM alone, we have studied approximately 400 patients globally at nearly 80 sites spanning 16 countries. Through our development work, we have built a substantive and rigorous base of knowledge of SM disease biology that will allow us to continue to meet the range of clinical needs across the spectrum of patients who have SM. We are developing longitudinal long-term evidence on the treatment impact of Avakit and ISM, and we look forward to sharing data from part one of our harbor study of L-Anesinib later this year. Beyond ISM, we are expanding our leadership in KIT biology as we build a franchise in broader mast cell-driven diseases. Today, we are very pleased to announce we have nominated a development candidate targeting wild-type KIT, blue 808, which has the opportunity to be the first and best in class oral wild type kit inhibitor with broad applicability across multiple diseases. Fuad will provide more details on this program as well as our other pipeline programs later on the call. But I want to highlight this program as an example of how we are executing our strategy of precision at scale. Our wild type kit program directly leverages our kit technical expertise and our SM commercial and medical infrastructure. which will allow us to work efficiently as we address the medical needs of patients with a wide range of mast cell-driven disorders. Precision at scale is our strategy for driving growth through leverage. By efficiently using our resources, we are capitalizing on our first mover advantage in SM and moving quickly into adjacent new diseases, enabling us to operate with financial discipline by leveraging true synergies across programs. blueprint has a strong financial foundation and Mike will cover how we have managed operating expenses, while growing revenue and advancing our pipeline. This uniquely positions us to have true options over the coming years to drive value as we prioritize the most promising pipeline programs utilize partnerships to expand our cash position and stay disciplined and data driven D prioritizing programs that don't have compelling data or market opportunities. This is our framework to build precision at scale. Our execution across a diverse set of value drivers in the first half of this year has set us on a strong trajectory for continued success moving into the second half of 2023. Our number one priority will continue to be driving revenue acceleration with the launch of Avakit and SM. While we also progress our pipeline of programs, addressing some of the most important and exciting biological targets in oncology and allergy immunology that have the potential to impact a large number of patients globally. Now, let me turn it over to Felina to discuss advocate performance in the quarter and our perspectives on the first few weeks of ISM launch.