Blueprint Medicines Corporation (NASDAQ: BPMC) plummeted at Monday’s open, after the company disclosed proof-of-concept data from the ongoing Phase 1 ARROW clinical trial of BLU-667.
The Cambridge, Mass.-based Blueprint announced the online publication of preclinical and clinical proof-of-concept data for BLU-667 in Cancer Discovery, an American Association for Cancer Research (AACR) journal.
Designed and developed by Blueprint Medicines, BLU-667 is a potent and highly selective inhibitor targeting oncogenic RET fusions and mutations, which are key drivers across multiple cancers, including subsets of patients with non-small cell lung cancer (NSCLC) and medullary thyroid cancer (MTC).
The manuscript reports detailed preclinical data characterizing the potency and selectivity of BLU-667 against oncogenic RET variants and resistant mutants and anti-tumor activity in multiple solid tumor models.
In addition, four patient vignettes from the ongoing Phase 1 ARROW clinical trial describe clinical responses in patients with RET-KIF5B-altered NSCLC and MTC harboring multiple RET mutations, including patients who had progressed on prior multi-kinase therapy.
"The publication of our work in Cancer Discovery highlights BLU-667's compelling preclinical profile and preliminary clinical activity in patients with RET-altered cancers and further demonstrates the power of Blueprint Medicines' scientific platform," said Erica Evans, Ph.D., Senior Director of Biology at Blueprint Medicines and the senior author of the paper.
"The published data show BLU-667 has the potential to deliver anti-tumor activity and meaningful clinical responses, regardless of tumor type, RET alteration or prior therapy."
Blueprint shares dove $11.98, or 12.1%, to $87.00 Monday.
