Context Therapeutics’ $100M placement; Blueprint raises guidance for rare disease drug

Plus, news about Novo­cure and Corvus:

Con­text Ther­a­peu­tics’ $100M PIPE: Nex­tech led the pri­vate place­ment, and oth­er in­vestors like Al­ly Bridge Group took part. The sol­id tu­mor biotech al­so said the FDA cleared hu­man test­ing of the com­pa­ny’s bis­pe­cif­ic an­ti­body CTIM-76. — Kyle LaHu­cik 

Blue­print Med­i­cines rais­es sales guid­ance, stock jumps 15%: The com­pa­ny’s rare dis­ease drug Ay­vak­it gen­er­at­ed $92.5 mil­lion in rev­enue in the first quar­ter of 2024, and Blue­print is now rais­ing its guid­ance on an­nu­al sales of the drug by $20 mil­lion to $410 mil­lion. The treat­ment’s la­bel was ex­pand­ed last year to a broad­er pa­tient pop­u­la­tion that in­cludes those with in­do­lent sys­temic mas­to­cy­to­sis, a rare dis­ease in which too many of a kind of white blood cell build up in the body. — Lei Lei Wu

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