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Sep 30, 2024
SpringWorks Therapeutics Q3 2024 Earnings Report
SpringWorks Therapeutics reported Q3 2024 financial results and provided recent business highlights.
Key Takeaways
SpringWorks Therapeutics reported $49.3 million in OGSIVEO net product revenue for the third quarter of 2024. The company's cash, cash equivalents, and marketable securities were $498.1 million as of September 30, 2024, which is expected to fund the company through profitability, anticipated in the first half of 2026.
Achieved $49.3 million in OGSIVEO net product revenue in Q3 2024.
Long-term follow-up data from the Phase 3 DeFi trial of nirogacestat showed further reductions in tumor size and sustained improvement in desmoid tumor symptoms.
FDA granted Priority Review on NDA and EU Marketing Authorization Application was validated for mirdametinib for the treatment of adults and children with NF1-PN.
Cash, cash equivalents and marketable securities totaled $498.1 million as of September 30, 2024, expected to fund the Company through profitability in the first half of 2026.
Forward Guidance
The focus for the remainder of the year is to continue building on OGSIVEO’s momentum in the U.S. while working to also bring it to patients in Europe, to advance commercial preparations for mirdametinib in anticipation of serving patients with NF1-PN in the U.S. and Europe, and to progress the emerging portfolio. SpringWorks expects this cash position to fund the Company through profitability, which is expected in the first half of 2026.
Positive Outlook
- Continue building on OGSIVEO’s momentum in the U.S.
- Work to bring OGSIVEO to patients in Europe.
- Advance commercial preparations for mirdametinib.
- Anticipate serving patients with NF1-PN in the U.S. and Europe.
- Progress the emerging portfolio.
Historical Earnings Impact
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