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SpringWorks Therapeutics, Inc. (Nasdaq: SWTX) is a dynamic, mission-driven biopharmaceutical company dedicated to creating transformative medicines for underserved patient populations facing severe rare diseases and cancer. Initially conceived by Pfizer, SpringWorks exemplifies a novel model of collaboration by connecting scientists, biopharmaceutical partners, patient groups, funders, and philanthropists to propel cutting-edge science into clinical reality. Founded in 2017, the company's name reflects its proactive approach to drug development, focusing on addressing unmet medical needs promptly.
SpringWorks employs a precision medicine approach to acquiring, developing, and commercializing life-changing therapies. The company's portfolio includes a range of small molecule targeted oncology product candidates, with a focus on debilitating conditions such as desmoid tumors, neurofibromatosis type 1-associated plexiform neurofibromas (NF1-PN), hereditary xerocytosis, and post-traumatic stress disorder. Among its significant achievements, SpringWorks recently launched OGSIVEO™ (nirogacestat), the first U.S. Food and Drug Administration (FDA)-approved therapy for adults with progressing desmoid tumors.
In December 2023, SpringWorks successfully priced an underwritten public offering, raising approximately $275 million to further its development initiatives. This financial boost supports ongoing and future clinical trials, such as the Phase 2 trial evaluating nirogacestat in recurrent ovarian granulosa cell tumors and multiple BCMA-directed therapies in collaboration with industry leaders.
SpringWorks' strategic collaborations extend to both industry and academia, enhancing its ability to deliver innovative treatment options. The company’s precision medicine strategy has facilitated rapid advancements in clinical trials for rare tumor types and genetically defined cancers. For instance, the Phase 2b ReNeu trial for mirdametinib, an investigational MEK inhibitor for NF1-PN, has shown promising results and is soon to be submitted for FDA approval.
The company’s approach to clinical development is underscored by its diversified oncology pipeline. This includes efforts to address highly prevalent, genetically defined cancers and solid tumors. SpringWorks continues to expand its reach with ongoing trials and upcoming regulatory submissions, aiming to bring more life-altering therapies to patients.
SpringWorks remains focused on its mission to improve the lives of patients with severe and rare diseases while demonstrating robust operational excellence and strategic growth. For more detailed and updated information, please visit www.springworkstx.com and follow SpringWorks on X, LinkedIn, and YouTube.
SpringWorks Therapeutics (SWTX) reported strong fourth quarter and full-year financial results for 2020, with a revenue of $35.0 million driven by a $35 million upfront payment from Jazz Pharmaceuticals. The company ended the year with $561.8 million in cash and marketable securities. Notably, interim data from the Phase 2b ReNeu trial of mirdametinib showed that 50% of the first 20 adult patients achieved an objective response. SpringWorks anticipates multiple data readouts in 2021, including topline data from the Phase 3 DeFi trial.
SpringWorks Therapeutics has reported interim results from the Phase 2b ReNeu trial of mirdametinib for NF1-associated plexiform neurofibromas (NF1-PN). As of January 22, 2021, 50% of enrolled patients achieved an objective response, with 80% remaining on study. The trial is nearing 70% enrollment, expected to complete in the second half of 2021, indicating robust interest in mirdametinib, which has shown a favorable safety profile with mostly mild adverse events. A conference call to discuss these results is set for today at 8:30 AM ET.
SpringWorks Therapeutics (SWTX), a clinical-stage biopharmaceutical firm, announced participation in three upcoming investor conferences. The events include the Cowen 41st Annual Health Care Conference on March 3, the H.C. Wainwright Global Life Sciences Conference on March 9, and the Barclays Global Healthcare Conference on March 10. Webcasts of these presentations will be available on the company's website afterward. SpringWorks focuses on developing treatments for rare diseases and cancers, emphasizing its precision medicine approach and two late-stage clinical trials.
SpringWorks Therapeutics, a clinical-stage biopharmaceutical company (Nasdaq: SWTX), will have its CEO, Saqib Islam, participate in a fireside chat at the Guggenheim Healthcare Talks 2021 Oncology Day on February 12, 2021, at 3:00 p.m. EST. The live webcast can be accessed on their Investors & Media section. SpringWorks focuses on developing precision medicine for patients with rare diseases and cancer, advancing clinical trials for targeted oncology products. For more details, visit their website.
SpringWorks Therapeutics, Inc. (Nasdaq: SWTX) announced that CEO Saqib Islam will present at the 39th Annual J.P. Morgan Healthcare Conference on January 12, 2021, at 7:30 a.m. EST. The presentation will focus on the company’s commitment to developing life-changing medicines for patients with rare diseases and cancer. Investors can access the live webcast on the company’s website, with a replay available afterward. SpringWorks is at the forefront of clinical development, advancing targeted oncology products and strategic partnerships in the biopharmaceutical industry.
SpringWorks Therapeutics (Nasdaq: SWTX) has announced the promotions of Badreddin Edris to Chief Operating Officer and L. Mary Smith to Chief Development Officer. Edris has been pivotal in advancing the company's strategy for nirogacestat and has extensive background in biotechnology. Smith, a founding member, has successfully led clinical programs and regulatory strategies. CEO Saqib Islam praised their leadership, highlighting the importance of their roles in advancing clinical development programs for rare diseases and cancer.
SpringWorks Therapeutics (Nasdaq: SWTX) announced that CEO Saqib Islam will participate in a Fireside Chat at the 3rd Annual Evercore ISI HealthCONx Conference on December 2, 2020, at 12:35 p.m. ET. The conference will be held virtually, and a video webcast can be accessed on the company's website under the 'Events & Presentations' section. A replay of the session will also be available for a limited time after the event.
SpringWorks focuses on precision medicine for rare diseases and cancer, advancing clinical trials for targeted oncology products.
SpringWorks Therapeutics has completed enrollment in its Phase 3 DeFi trial for nirogacestat targeting desmoid tumors. The company has signed clinical collaborations with major pharma players like Janssen, Pfizer, and Precision Biosciences to explore nirogacestat's potential in multiple myeloma therapies. Additionally, SpringWorks completed an agreement with Jazz Pharmaceuticals, receiving $35 million upfront and potential milestone payments up to $375 million. They raised $269.5 million through a follow-on public offering. R&D expenses increased to $13.9 million in Q3 2020, leading to a net loss of $21.7 million.
SpringWorks Therapeutics (Nasdaq: SWTX) has successfully completed its underwritten public offering, raising approximately $287.5 million through the sale of 5,637,254 shares at a price of $51.00 each. This total includes the full exercise of an underwriter's option for an additional 735,294 shares. J.P. Morgan, Goldman Sachs, and Cowen acted as joint book-running managers for this offering. The funds raised will support the company's clinical development of treatments for rare diseases and cancers.
SpringWorks Therapeutics (Nasdaq: SWTX) announced a public offering of 4,901,960 shares of common stock at $51.00 per share, aiming to raise approximately $250 million before expenses. The offering's close is expected around October 13, 2020, subject to customary conditions. Additionally, the underwriters hold a 30-day option to acquire up to 735,294 additional shares. J.P. Morgan, Goldman Sachs, and Cowen are the joint book-running managers for this offering. The registration statement has been filed with the SEC and is effective.
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