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Mar 31, 2022
SpringWorks Therapeutics Q1 2022 Earnings Report
SpringWorks Therapeutics reported financial results for the first quarter of 2022 and provided a business update.
Key Takeaways
SpringWorks Therapeutics reported a net loss of $61.8 million, or $1.26 per share, for the first quarter of 2022. The company continued to advance its diversified targeted oncology pipeline and expects to announce topline data from its Phase 3 DeFi study in the second quarter of 2022.
Advanced diversified targeted oncology pipeline with 18 development programs.
Activities to enable topline analysis from Phase 3 DeFi trial underway with data expected in the second quarter.
Long-term data from the Phase 2 NCI-sponsored clinical trial of Nirogacestat in patients with progressing desmoid tumors to be presented at ASCO.
Announced clinical trial collaboration and supply agreement with Regeneron to evaluate Nirogacestat in combination with REGN5458 in patients with relapsed or refractory multiple myeloma.
Forward Guidance
The second quarter of 2022 will be a meaningful period for SpringWorks with expected topline data from the Phase 3 DeFi study, initial clinical data from the collaboration with GSK evaluating nirogacestat in combination with low-dose BLENREP, and the first R&D Day.
Positive Outlook
- Topline data from Phase 3 DeFi study expected in the second quarter of 2022
- Initial clinical data from the collaboration with GSK evaluating nirogacestat in combination with low-dose BLENREP at ASCO
- First R&D Day to include initial clinical data from biomarker-defined metastatic solid tumor programs with BeiGene
- Preparations for serving patients with desmoid tumors
- Nominate a drug candidate from the TEAD inhibitor portfolio in the second half of 2022
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