Loading...
•
Sep 30, 2020
SpringWorks Therapeutics Q3 2020 Earnings Report
Reported third quarter financial results and provided recent business highlights.
Key Takeaways
SpringWorks Therapeutics reported its Q3 2020 financial results, highlighting the completion of enrollment in the Phase 3 DeFi trial, advancements in developing nirogacestat as a cornerstone of BCMA combination therapy, and the progression of trials in biomarker-defined metastatic solid tumors. The company also completed an asset purchase and exclusive license agreement of global rights to FAAH Inhibitor PF-04457845 to Jazz Pharmaceuticals, receiving $35 million upfront payment and potential future milestone payments of up to $375 Million, and raised $269.5 million in net proceeds through follow-on public offering.
Completed enrollment in the Phase 3 DeFi trial of nirogacestat in adult patients with desmoid tumors.
Signed clinical collaborations with Janssen, Pfizer and Precision Biosciences to evaluate nirogacestat in combination with BCMA-directed therapies for multiple myeloma.
Entered into a sponsored research agreement with Fred Hutchinson Cancer Research Center to further evaluate nirogacestat as a BCMA potentiator in multiple myeloma.
Completed an asset purchase and exclusive license agreement of global rights to FAAH Inhibitor PF-04457845 to Jazz Pharmaceuticals for $35 million upfront and potential future milestone payments.
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
Loading earnings performance data...
Loading earnings reaction data...