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Dec 31, 2023
SpringWorks Therapeutics Q4 2023 Earnings Report
Reported net product revenue from OGSIVEO launch and progressed with clinical trials.
Key Takeaways
SpringWorks Therapeutics reported $5.4 million in OGSIVEO net product revenue in the first partial quarter of launch, submitted a Marketing Authorization Application to the European Medicines Agency for nirogacestat, presented positive topline data from the Phase 2b ReNeu trial of mirdametinib, and ended 2023 with $662.6 million in cash, cash equivalents and marketable securities.
OGSIVEO net product revenue was $5.4 million in the first partial quarter of launch.
Marketing Authorization Application submitted to the European Medicines Agency for nirogacestat.
Positive topline data presented from Phase 2b ReNeu trial of mirdametinib.
Ended 2023 with $662.6 million in cash, cash equivalents and marketable securities.
Forward Guidance
The company's focus for 2024 is to continue delivering a successful U.S. launch for OGSIVEO in desmoid tumors, to file an NDA for mirdametinib, to make progress towards expanding the reach of OGSIVEO into additional geographies outside of the U.S., and to unlock additional opportunities across the emerging portfolio.
Positive Outlook
- Continue delivering a successful U.S. launch for OGSIVEO in desmoid tumors.
- File NDA for mirdametinib with the goal of having second approval by 2025.
- Make progress towards expanding the reach of OGSIVEO into additional geographies outside of the U.S.
- Unlock additional opportunities across emerging portfolio.
- Initiate a Phase 1a trial of SW-682 in Hippo mutant solid tumors in the first half of 2024.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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