We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
SpringWorks (SWTX) & AbbVie Unite for Multiple Myeloma Drug
Read MoreHide Full Article
SpringWorks Therapeutics, Inc. (SWTX - Free Report) announced that it is has entered into a clinical study collaboration agreeement with AbbVie (ABBV - Free Report) to evaluate a novel combination for the treatment of patients with relapsed or refractory multiple myeloma.
The clinical study will evaluate the combination of SpringWorks’ own investigational gamma secretase inhibitor, nirogacestat, in combination with ABBV-383, AbbVie’s investigational CD3 bispecific antibody directed against B-cell maturation agent (BCMA), in a phase Ib study that is expected to begin in first-half 2022.
Per the agreement terms, AbbVie will sponsor and conduct this phase Ib study and assume the entire study cost (excluding costs related to manufacturing of nirogacestat and certain expenses related to intellectual property rights). Both SpringWorks and AbbVie will form a joint steering committee to manage this clinical study.
SpringWorks’ stock has declined 3.4% so far this year in comparison with the industry’s 22.8% decline.
Image Source: Zacks Investment Research
Per the company, gamma secretase inhibition helps prevent the cleavage and shedding of BCMA from the surface of myeloma cell. Nirogacestat has demonstrated the enhancement of the activity of BCMA-targeted therapies in preclinical studies by increasing the levels of membrane-bound BCMA and decreasing the levels of soluble BCMA.
We note that this is the seventh clinical collaboration agreement entered by the company for BCMA. It has already announced collaborations with several big-wig pharma companies including Pfizer (PFE - Free Report) .
Last week, SpringWorks announced that it had dosed the first patient in a phase Ib/II study evaluating nirogacestat with elranatamab, Pfizer’s investigational BCMA, in patients with relapsed or refractory multiple myeloma.
The phase I/IIb study is one sub-study of Pfizer’sumbrella MagnetisMM-4 study (NCT05090566) to evaluate the safety, tolerability, and preliminary efficacy of the combinaton of nirogacestat and elranatamab in the given indication. Pfizer is sponsoring and conducting this study.
SpringWorks Therapeutics presently carries a Zacks Rank #3 (Hold). A better-ranked stock in the same sector is Precision BioSciences (DTIL - Free Report) , which currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Precision BioSciences’ loss per share estimates for 2021 have narrowed from $1.17 to $0.65 in the past 60 days. The same for 2022 has narrowed from $2.39 to $1.91 in the past 60 days. Shares of Precision BioSciences have risen 2.9% in the year so far.
Earnings of Precision BioSciences beat estimates in all the last four quarters, delivering a surprise of 76.9%, on average.
Zacks' 7 Best Strong Buy Stocks (New Research Report)
Valued at $99, click below to receive our just-released report predicting the 7 stocks that will soar highest in the coming month.
Image: Bigstock
SpringWorks (SWTX) & AbbVie Unite for Multiple Myeloma Drug
SpringWorks Therapeutics, Inc. (SWTX - Free Report) announced that it is has entered into a clinical study collaboration agreeement with AbbVie (ABBV - Free Report) to evaluate a novel combination for the treatment of patients with relapsed or refractory multiple myeloma.
The clinical study will evaluate the combination of SpringWorks’ own investigational gamma secretase inhibitor, nirogacestat, in combination with ABBV-383, AbbVie’s investigational CD3 bispecific antibody directed against B-cell maturation agent (BCMA), in a phase Ib study that is expected to begin in first-half 2022.
Per the agreement terms, AbbVie will sponsor and conduct this phase Ib study and assume the entire study cost (excluding costs related to manufacturing of nirogacestat and certain expenses related to intellectual property rights). Both SpringWorks and AbbVie will form a joint steering committee to manage this clinical study.
SpringWorks’ stock has declined 3.4% so far this year in comparison with the industry’s 22.8% decline.
Per the company, gamma secretase inhibition helps prevent the cleavage and shedding of BCMA from the surface of myeloma cell. Nirogacestat has demonstrated the enhancement of the activity of BCMA-targeted therapies in preclinical studies by increasing the levels of membrane-bound BCMA and decreasing the levels of soluble BCMA.
We note that this is the seventh clinical collaboration agreement entered by the company for BCMA. It has already announced collaborations with several big-wig pharma companies including Pfizer (PFE - Free Report) .
Last week, SpringWorks announced that it had dosed the first patient in a phase Ib/II study evaluating nirogacestat with elranatamab, Pfizer’s investigational BCMA, in patients with relapsed or refractory multiple myeloma.
The phase I/IIb study is one sub-study of Pfizer’sumbrella MagnetisMM-4 study (NCT05090566) to evaluate the safety, tolerability, and preliminary efficacy of the combinaton of nirogacestat and elranatamab in the given indication. Pfizer is sponsoring and conducting this study.
SpringWorks Therapeutics Price
SpringWorks Therapeutics price | SpringWorks Therapeutics Quote
Zacks Rank & Stock to Consider
SpringWorks Therapeutics presently carries a Zacks Rank #3 (Hold). A better-ranked stock in the same sector is Precision BioSciences (DTIL - Free Report) , which currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Precision BioSciences’ loss per share estimates for 2021 have narrowed from $1.17 to $0.65 in the past 60 days. The same for 2022 has narrowed from $2.39 to $1.91 in the past 60 days. Shares of Precision BioSciences have risen 2.9% in the year so far.
Earnings of Precision BioSciences beat estimates in all the last four quarters, delivering a surprise of 76.9%, on average.