Blueprint Medicines Corporation

Good morning, my name is Angela Lang and I'll be your conference operator today. At this time, I would like to welcome everyone to the Blueprint Medicine's FASTQ 2025 earnings release and conference call. All lines have been placed on mute to prevent any background noise. After the speaker's remarks, there will be a question and answer section. If you would like to ask a question during this time, simply press star followed by the number one on your telephone keypad. If you would like to withdraw your question, Press the star followed by the number T. Please plan to limit yourself to one question. Thank you. Jenna Cohen, you may begin your conference.

Thank you, Angela. Good morning, everyone, and welcome to Blueprint Medicine's first quarter 2025 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, Becker Hughes, Chief Medical Officer, and Mike Lansdell, Chief Financial Officer. Fuad Namuni, President of Research and Development, and Christy Rossi, Chief Operating Officer, are also on the line and 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.

We at Blueprint Medicine strive to be a standout top-tier biotech company with a core focus on innovation, commercial excellence, and maintaining a durable financial profile that enables disciplined global investment across our portfolio. Following strong performance in 2024, we've continued our executionable momentum in 2025. This quarter, we achieved 61% year-over-year advocate revenue growth. as we continue to capture the substantial and growing multibillion-dollar commercial opportunity and systemic mastocytosis, which we expect will drive our global revenue growth well into the next decade. With every additional quarter of performance, Avakit progresses on the path to our goal of $2 billion in revenue by 2030. The underlying fundamental demand, driven by growth in patients on therapy, is the critical determinant of long-term revenue potential. And we are pleased that our results in Q1 reflect continued strength in this metric, as we expected. This strong fundamental growth, coupled with significant favorability in our free versus paid good mix, is leading us to raise our revenue guidance for the year. Felina will go into this more specifically in a moment. We also advanced our industry-leading pipeline of mass cell-directed investigational medicines. Our two prioritized pipeline programs, LNS to them, and Blue808 have the potential to drive significant upside value for Blueprint as they progress in the clinic this year and beyond. With Blue808, our wild type kit inhibitor, our goal is to raise the bar on what a treatment for a wide range of allergic and inflammatory diseases can offer by considering the full patient experience, efficacy, tolerability, and the burden associated with administration. Blue 808's early clinical profile supports our differentiated approach to development, allowing us to explore a range of doses as well as dose regimens. As we announced this morning, Blue 808 has achieved key milestones with the initiation of two proof-of-concept studies, one in allergic rhinoconjunctivitis and one in chronic urticaria. We hope to be able to share some early data this year from these studies, which Becker will talk more about later on the call. L-anestinib, our next generation kit D816V inhibitor, has the potential best in disease profile that builds on our years of experience in SM. Given the strong receptivity of Avakit by both physicians and patients, we know it is not enough to incrementally innovate with a follow-on medicine that will enter the market years after Avakit. With the pivotal Harbor study up and running, We have a plan to deliver substantially differentiated and meaningful innovation with LNS NIP that goes beyond symptomatic control to measures of organ healing and disease modification. Blueprint's durable commercial growth profile, strong cash position, and disciplined capital allocation strategy afford us the ability to focus on executing our business to plan, despite the broader market volatility. With our intellectual property being domiciled in the US and our low cost of goods, we are insulated from potential biopharmaceutical tariffs and do not anticipate any material impact on our business. In terms of the staffing changes at the FDA, we do not have any major regulatory filings planned over the next 12 months, and we have not experienced an impact in our routine engagements with the agency to date. We will, of course, continue to monitor the rapidly evolving external environment and work to mitigate any changes that do impact our business. Our results today are possible thanks to the impressive team of people we have at Blueprint Medicine. And I thank them for their thoughtful and urgent commitment to the people whose lives we set out to improve every day. With that, I will turn it to Felina to discuss the quarter's commercial performance in more depth.