By Stephen Nakrosis

Blueprint Medicines Corp. on Tuesday said the U.S. Food and Drug Administration approved Gavreto as a treatment for certain types of thyroid cancer.

The company said the FDA approved Gavreto, or pralsetinib, as a treatment for patients with RET-altered thyroid cancers.

Blueprint Medicines said it is co-commercializing Gavreto in the U.S. with Genentech, under Blueprint's collaboration with Roche.

"In the Phase 1/2 ARROW trial, Gavreto showed durable efficacy and was generally well-tolerated in patients with RET-altered thyroid cancers with or without prior systemic therapy," Blueprint said.

"Earlier this year, the FDA granted accelerated approval to Gavreto for the treatment of adults with metastatic RET fusion-positive non-small cell lung cancer as detected by an FDA approved test," the company added.

At 3:36 p.m. EST, Blueprint Medicines' shares were trading 2.5% lower on the Nasdaq at $105.83. Year to date, the stock is up over 31%.

--Write to Stephen Nakrosis at stephen.nakrosis@wsj.com

(END) Dow Jones Newswires

12-01-20 1557ET