Blueprint raises $300M follow-on

Blueprint Medicines Corp. (NASDAQ:BPMC) raised $300 million late Tuesday through the sale of 3.7 million shares at $81 in a bumped-up follow-on underwritten by Goldman Sachs, Morgan Stanley, Cowen and Canaccord Genuity. The price is a 9% discount to Blueprint's close of $88.32 on Monday, when it proposed to raise $275 million after-market hours.

Blueprint gained $16.46 (23%) Monday after reporting at the American Society of Hematology meeting in Atlanta that avapritinib led to an overall response rate (ORR) of 72% in a Phase I trial to treat advanced systemic mastocytosis (see BioCentury Extra, Dec. 11)...