SpringWorks Therapeutics Q4 2020 Earnings Report
Key Takeaways
SpringWorks Therapeutics reported Q4 2020 financial results, featuring $35.0 million in revenue from the Jazz Pharmaceuticals agreement. The company's R&D expenses were $15.3 million, and G&A expenses totaled $8.5 million. Net income for the quarter was $11.3 million, and cash, cash equivalents, and marketable securities amounted to $561.8 million.
Revenue for Q4 2020 was $35.0 million, driven by the upfront payment from Jazz Pharmaceuticals.
R&D expenses increased to $15.3 million due to growing employee costs and clinical trial expenses.
G&A expenses rose to $8.5 million, reflecting increased personnel and business activities.
The company ended 2020 with a strong cash position of $561.8 million, including proceeds from a public offering and the Jazz Pharmaceuticals payment.