Why did BPMC's Q4 2024 EPS barely beat forecasts?

Blueprint Medicines' (BPMC) Q4 2024 EPS barely beat forecasts due to several factors influencing the company's financial performance: 1. **Product Revenue Growth**: Although AYVAKIT achieved record revenue of $128.2 million in Q3, net product revenue for Q4 was $146.37 million, which was slightly below the expectation. This discrepancy could be due to factors such as market dynamics, sales strategies, or competitive landscape changes affecting sales momentum. 2. **Strategic Restructuring**: BPMC has recently announced strategic restructuring aimed at prioritizing the manufacture of critical starting materials for genetic medicines. Such restructuring can temporarily impact financial performance as it involves reallocating resources and may lead to short-term inefficiencies. 3. **Comparing with Previous Performance**: In Q3 2023, BPMC reported an EPS of $-2.20, which was higher than the expected loss of $0.97 for Q3 2024. This comparison highlights that despite improving financial performance, the company's EPS was still negatively impacted by previous year's performance benchmarks. In summary, while BPMC has shown positive revenue growth and improved profitability, the strategic restructuring and comparison with previous performance benchmarks contribute to the slight miss in EPS expectations.