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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.
On April 17, 2023, SpringWorks Therapeutics and BeiGene presented updated clinical data from a Phase 1b trial focused on the RAF dimer inhibitor, lifirafenib, in combination with the MEK inhibitor, mirdametinib. This trial targets patients with advanced solid tumors driven by genetic mutations in RAS and RAF pathways. The oral presentation at the AACR Annual Meeting highlighted promising early results, indicating a favorable safety profile with low instances of severe adverse events. Among 62 efficacy-evaluable participants, 23% experienced confirmed objective responses, with notable success in specific cancer types, including a 59% response rate in low-grade serous ovarian cancer. The trial is advancing into a dose-expansion phase targeting biomarker-selected patients in late 2023.
On April 17, 2023, SpringWorks Therapeutics (NASDAQ: SWTX) and partners presented updated clinical data for BGB-3245, a selective RAF dimer inhibitor, at the AACR Annual Meeting 2023. This Phase 1a/1b study focuses on patients with advanced solid tumors bearing MAPK pathway aberrations. The preliminary results, showcased by Dr. Alison M. Schram, demonstrate a manageable safety profile with an 18% objective response rate and a disease control rate of 79%. Patients exhibited an average of three prior therapies, indicating potential for BGB-3245 in BRAF V600E and NRAS mutant populations. The study has progressed to Phase 1b dose expansion since October 2022, aiming to confirm these findings in defined patient cohorts.
SpringWorks Therapeutics (SWTX) announced significant results from the Phase 3 DeFi trial of nirogacestat for desmoid tumors. The investigational oral drug showed a 71% reduction in disease progression risk compared to placebo, achieving a median progression-free survival (PFS) not reached versus 15.1 months for placebo. The objective response rate was 41% for nirogacestat versus 8% for placebo. Nirogacestat also improved key patient-reported outcomes, including pain and quality of life. The FDA is reviewing the New Drug Application with a PDUFA action date of August 27, 2023, highlighting the potential to address an unmet need in desmoid tumor treatment.
SpringWorks Therapeutics (Nasdaq: SWTX) announced management's participation in a fireside chat at the Cowen 43rd Annual Health Care Conference on March 7, 2023, at 12:50 p.m. ET. The event will focus on the company's mission to develop life-changing medicines for patients with severe rare diseases and cancer. Interested parties can access the live webcast through the Investors & Media section on their website, with a replay available afterward. SpringWorks is known for its targeted oncology pipeline and innovative partnerships aimed at advancing clinical development in rare and genetically defined cancers.
SpringWorks Therapeutics received FDA acceptance for its NDA for nirogacestat for treating adults with desmoid tumors and was granted Priority Review, with a PDUFA date set for August 27, 2023. The company expects topline data from the Phase 2b ReNeu trial for mirdametinib in patients with NF1-associated plexiform neurofibromas in the second half of 2023 and anticipates an NDA submission in early 2024. SpringWorks ended 2022 with $597.0 million in cash and equivalents, supporting its operations into 2026.
SpringWorks Therapeutics (Nasdaq: SWTX) recently announced that the FDA has accepted its New Drug Application (NDA) for nirogacestat, a gamma secretase inhibitor aimed at treating adults with desmoid tumors. The NDA has received Priority Review status, with a PDUFA action date set for August 27, 2023. This designation is reserved for drugs that promise significant treatment advancements for serious conditions. The NDA’s review is based on positive results from the Phase 3 DeFi trial, which evaluated nirogacestat's efficacy and safety in desmoid tumor patients. Currently, there are no FDA-approved therapies for this condition.
SpringWorks Therapeutics (Nasdaq: SWTX) presented its achievements from 2022 and key goals for 2023 at the J.P. Morgan Healthcare Conference. The company highlighted positive Phase 3 data for nirogacestat in desmoid tumors and the submission of an NDA to the FDA for the same treatment, which is currently under review. Financially, SpringWorks reported over $650 million in cash and equivalents, ensuring a runway into 2026. Upcoming milestones include potential FDA approval for nirogacestat and planned NDA submissions for mirdametinib.
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