1. Scrip
  2. >>Therapy Areas
  3. >>Dermatological

Blueprint prices IPO above range, raises $147m

 
• By Sukaina Virji

Blueprint Medicines has priced its heavily oversubscribed initial public offering (IPO) of just over 8 million shares at $18.00 per share, above the initial range of $15-$17. This led to gross proceeds of $147m and a market capitalization of $465m, "a pleasing result for a young biotechnology company not in the immune-oncology space and with two drugs about to enter the clinic," noted Thilo Schroeder, partner at Blueprint investor Nextech Invest and former member of its board.

Blueprint Medicines has priced its heavily oversubscribed initial public offering (IPO) of just over 8 million shares at $18.00 per share, above the initial range of $15-$17. This led to gross proceeds of $147m and a market capitalization of $465m, "a pleasing result for a young biotechnology company not in the immune-oncology space and with two drugs about to enter the clinic," noted Thilo Schroeder, partner at Blueprint investor Nextech Invest and former member of its board.

The shares began trading on 30 April on the Nasdaq global market under the ticker 'BPMC'.

Read the full article – start your free trial today!

Join thousands of industry professionals who rely on Scrip for daily insights

  • Start your 7-day free trial
  • Explore trusted news, analysis, and insights
  • Access comprehensive global coverage
  • Enjoy instant access – no credit card required
Start Free Trial

Already a subscriber?

More from Dermatological

Sanofi Plays It Safer With Blueprint Buy After Bumpy 2025

 
• By Kevin Grogan

But the French major is still keen on early-stage M&A.

InflaRx Stock Sinks As Vilobelimab Fails Phase III Skin Trial

 
• By Kevin Grogan

A study of the German biotech's intravenous complement factor C5a antibody for pyoderma gangrenosum was stopped for futility.

Leo Roars To A Profit In Q1 As Adbry Grows In US

 
• By Kevin Grogan

The Danish firm's atopic dermatitis drug is holding its own despite strong competition from Sanofi/Regeneron’s Dupixent.

Abeona Sets $3.1m Price For Rare Skin Disorder Gene Therapy

 
• By Joseph Haas

Abeona plans to offer an outcomes-based payment model for Zevaskyn, which likely will see complementary use with Krystal’s Vyjuvek in recessive dystrophic epidermolysis bullosa patients.

More from Therapy Areas

Merus Raises $300m After ASCO Success

 
• By Andrew McConaghie

The company is raising the money to fuel development of its head and neck cancer candidate, petosemtamab, on the back of promising early data. Some analysts are stopping short of declaring it the winner against a rival product from Bicara, however.

Bayer Boosted By Third FDA Approval For Nubeqa

 
• By Kevin Grogan

US green light will further expand sales of the prostate cancer blockbuster.

Kymera STAT6 Data Set The Bar For ‘Dupixent-In-A-Pill’ Race

 
• By Jessica Merrill

Kymera will move KT-621 into Phase II trials later this year based on compelling data in healthy volunteers, validating the company’s protein-degradation platform.