SpringWorks Therapeutics Reports Preliminary Financial Results and Business Updates at J.P. Morgan Healthcare Conference

On January 13, 2025, SpringWorks Therapeutics, Inc. (NASDAQ: SWTX) released preliminary financial information for the fourth quarter and full year 2024. The company reported $61.5 million and $172.0 million in unaudited U.S. net product revenue for OGSIVEO (nirogacestat) for the fiscal quarter and year ended December 31, 2024, respectively. Additionally, as of December 31, 2024, SpringWorks had approximately $461.9 million in total cash, cash equivalents, and marketable securities.

This unaudited and preliminary data was disclosed in connection with the 43rd Annual J.P. Morgan Healthcare Conference. It’s important to note that these figures do not present all the information necessary for a comprehensive understanding of the company’s financial performance and position during that period. The audit of the financial statements for the year ended December 31, 2024 is ongoing and may lead to adjustments to the previously mentioned data.

Furthermore, an exclusive, global license agreement was obtained from Rappta Therapeutics Oy for a first-in-class molecular glue of specific Protein Phosphatase 2A (PP2A) complexes. This license exchange led to SpringWorks acquiring SW-3431 (formerly RPT04402) and making a $13 million upfront payment to Rappta, with potential future milestone payments based on clinical, regulatory, and commercial achievements.

Looking ahead, SpringWorks anticipates launching OGSIVEO in the European Union and publishing long-term follow-up data from the Phase 3 DeFi trial of nirogacestat in adults with desmoid tumors. The company also aims to secure FDA approval for mirdametinib in adults and children with NF1-associated plexiform neurofibromas by February 28, 2025.

SpringWorks plans to share additional data from the brimarafenib monotherapy trial by MapKure in the second half of 2025. Furthermore, the company is actively enrolling patients in a Phase 1 trial of SW-682 in Hippo-mutant solid tumors and targets filing an Investigational New Drug (IND) application for SW-3431 by the end of 2025.

Saqib Islam, the CEO of SpringWorks, expressed optimism for the year ahead, highlighting the potential launch of a second medicine and global expansion to serve patients with severe rare diseases and cancer. The company aims to continue delivering on commitments while advancing its pipeline of oncology programs and seeking long-term growth and success.

The company’s presentation at the 43rd Annual J.P. Morgan Healthcare Conference included the announcement of these preliminary results and plans for the future. Investors and stakeholders can access the webcast of the presentation for a limited time on SpringWorks’ website.

For additional information, investors can visit SpringWorks’ website and follow their social media channels for updates and disclosures about the company’s activities and developments. SpringWorks looks forward to a transformative year in 2025 as it progresses with its commercial launches and pipeline advancements.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read SpringWorks Therapeutics’s 8K filing here.

SpringWorks Therapeutics Company Profile

SpringWorks Therapeutics, Inc, a commercial-stage biopharmaceutical company, engages in the development and commercialization of medicines for underserved patient populations suffering from rare diseases and cancer. Its lead product candidate is OGSIVEO (nirogacestat), an oral small molecule gamma secretase inhibitor that is in Phase III DeFi trial for the treatment of desmoid tumors; and Nirogacestat, is also in Phase 2 clinical development as a monotherapy for the treatment of ovarian granulosa cell tumors (GCT), a subtype of ovarian cancer.