Blueprint Medicines Corporation

At this time, I'd like to welcome everyone to the Blueprint Medicine second quarter 2024 financial results conference call. My name is Bruno, and I'll be operating your call today. All lines 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 one on your telephone keypad. If you'd like to withdraw your question, please press star followed by two. please remember to limit yourself to one question. I'll now hand over to your host, Jenna Cohen. Please, you may begin your conference.

Thank you, Bruno. Good morning, everyone, and welcome to Blueprint Medicine second quarter 2024 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 by going to the Investors section of our website at www.blueprintmedicines.com. Joining me today are Kate Haviland, Chief Executive Officer, Felina Lee, Chief Commercial Officer, Christy Rossi, Chief Operating Officer, and Mike Lansdell, Chief Financial Officer. Swadna Muni, President, Research and Development, is also on the line and available during 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. This quarter marks a milestone. one full year since the US approval of Avakit for indolent systemic mastocytosis. At the beginning of the year, we laid out that our top priority as a company is Avakit's launch execution. And we have delivered yet another very strong quarter of revenue, one that exceeded our own expectations as we continue to build this new rare disease market. This is one of the most exciting rare disease launches happening today. as each quarter makes Avakit's path to a greater than $2 billion peak revenue opportunity that much clearer. Our conviction in Avakit's multi-billion dollar market opportunity is based on the positive reception and adoption of Avakit we are seeing across physicians, patients, and payers as we successfully change the treatment paradigm for patients with SM. Avakit offers a unique and multidimensional value proposition a medicine that targets the source of SM, driving deep and durable benefits, while importantly, also being very well tolerated, enabling patients to stay on Avakit over the long term. As we increase the number of ISM patients on therapy, the cumulative effects of patients staying on therapy will be a significant driver of revenue this year and beyond. Today, we're raising revenue guidance based on our strong performance in the first half of this year. With a full year of launch now under our belts and our growing experience with the range of factors that drive our business, we have more confidence in this guidance and how we'll end the year. Felina will discuss these factors driving commercial performance in more detail in a few minutes. We have just started scratching the surface on reaching the patients with SM who could potentially benefit from treatment with Avakit. And we expect that Avakit will drive continued and sustainable revenue growth over the long term, enabling us to invest in our prioritized areas of research and development, focused in mast cell-driven disorders, where there is high medical need in large patient populations, and where we can leverage our expertise and infrastructure to drive the next phase of value inflection at Blueprint Medicine. We are pleased to have received IND clearance for Blue 808, our wild-type kit inhibitor, and we have initiated the Healthy Volunteer Study. We believe Blue808 has the potential to impact core biology across a number of mast cell diseases by targeting kit. Christy will review our progress to date across our entire portfolio later on the call. With a foundation of significant and growing revenue from Avakit, a next wave of therapies in our pipeline that address important medical needs and even larger scale patient opportunities, and a financial profile anchored by sustainable top-line revenue growth. We have the financial flexibility to invest in innovation, and we have compelling opportunities in our portfolio that will drive the next wave of value creation as we continue building Blueprint Medicine. Mike will add more color to our financials to close us out. With that, I'll turn it over to Felina for more detail on our commercial performance. Thanks, Kate.