SpringWorks Therapeutics Q3 2020 Earnings Report
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.