Blueprint prices $345M follow-on

Blueprint Medicines Corp. (NASDAQ:BPMC) raised $345 million through the sale of 4.3 million shares at $81 in a bumped-up follow-on underwritten by Goldman Sachs, Morgan Stanley, Cowen and Canaccord Genuity. The figure includes the sale of 555,555 shares in an overallotment on Dec. 15. The price is a 9% discount to Blueprint's close of $88.32 on Dec. 11, when it proposed to raise $275 million after-market hours.

On Dec. 10, Blueprint reported at the American Society of Hematology meeting in Atlanta that its lead candidate avapritinib (formerly BLU-285) led to an overall response rate (ORR) of 72% in a Phase I trial to treat advanced systemic mastocytosis...