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Mar 31, 2020
SpringWorks Therapeutics Q1 2020 Earnings Report
SpringWorks Therapeutics reported financial results for Q1 2020 and provided a business update.
Key Takeaways
SpringWorks Therapeutics reported a net loss of $15.3 million, or $0.37 per share, for the first quarter of 2020. The company's cash and cash equivalents were $311.1 million as of March 31, 2020. They also announced the issuance of a new U.S. composition of matter patent to polymorphic form of Nirogacestat, extending patent protection into 2039 and signed a clinical collaboration with Allogene to evaluate Nirogacestat in combination with Allogeneic BCMA CAR T Cell Therapy.
New patent issued for nirogacestat, extending protection to 2039.
Clinical collaboration signed with Allogene to evaluate nirogacestat in combination with BCMA CAR T cell therapy.
Phase 1 clinical trial initiated for BGB-3245 in biomarker-defined solid tumors.
COVID-19 had a relatively modest impact on business operations.