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), GSK Expand Deal to Treat Multiple Myeloma
Read MoreHide Full Article
SpringWorks Therapeutics, Inc. (SWTX - Free Report) expanded its existing clinical collaboration agreement with GSK (GSK - Free Report) . The partnership is evaluating the combination of SpringWorks’ investigational oral gamma secretase inhibitor, nirogacestat, with GSK’s anti-BCMA antibody-drug conjugate, Blenrep, in patients with multiple myeloma (MM).
Per the terms of the agreement, SpringWorks will supply nirogacestat to support GSK’s global development program for Blenrep. Once the combination receives approval, SpringWorks will also make nirogacestat commercially available alongside Blenrep.
Per the terms, GSK will invest $75 million as an equity investment in SpringWorks’ common stock. SpringWorks will be eligible to receive potential milestone payments of up to $550 million. However, SWTX will continue to hold commercial rights over nirogacestat.
Shares of SpringWorks were up 7.2% following the news announcement. Yet, the stock has plunged 55% in the year compared with the industry’s 25.7% decline.
Image Source: Zacks Investment Research
This collaboration extends the clinical trial and supply agreement between SpringWorks and GSK in 2019. The original agreement aims to evaluate the combination of nirogacestat and Blenrep in patients with relapsed/refractory MM.
Unlike the original one, the new agreement includes developing and commercializing the nirogacestat and Blenrep combination in earlier lines of treatment for MM, including newly-diagnosed patients.
GSK will continue to fund all development costs for the combination studies undertaken. However, SpringWorks will be responsible for all costs related to the supply of nirogacestat and certain expenses related to intellectual property rights.
Nirogacestat is SpringWorks’ most advanced pipeline candidate, which is being evaluated in the phase III DeFi study to treat desmoid tumors. This May, SWTX announced top-line results from the DeFi study, achieving both its primary and secondary endpoints. Based on these data, management intends to file a new drug application (NDA) with the FDA later this year in the given indication.
Currently, SpringWorks has no marketed drugs in its portfolio. Entering into collaboration agreements will enable the company to earn milestone and royalty payments to fund the development of its pipeline candidates.
Apart from GSK, the company has also entered into a similar agreement with AbbVie (ABBV - Free Report) and Regeneron (REGN - Free Report) , evaluating the combination of nirogacestat and the AbbVie and Regeneron’s respective BCMA-specific antibodies for treating relapsed/refractory MM.
SpringWorks had entered into a collaboration with AbbVie last December to evaluate the combination of nirogacestat plus AbbVie’s ABBV-383 in relapsed/refractory MM. A similar agreement was entered with Regeneron to evaluate the combination of nirogacestat plus Regeneron’s REGN5458 in relapsed/refractory MM.
Similar to GSK, AbbVie and Regeneron will be responsible for funding all development costs associated with the study, except for the costs pertaining to the supply of nirogacestat.
Image: Bigstock
SpringWorks (SWTX), GSK Expand Deal to Treat Multiple Myeloma
SpringWorks Therapeutics, Inc. (SWTX - Free Report) expanded its existing clinical collaboration agreement with GSK (GSK - Free Report) . The partnership is evaluating the combination of SpringWorks’ investigational oral gamma secretase inhibitor, nirogacestat, with GSK’s anti-BCMA antibody-drug conjugate, Blenrep, in patients with multiple myeloma (MM).
Per the terms of the agreement, SpringWorks will supply nirogacestat to support GSK’s global development program for Blenrep. Once the combination receives approval, SpringWorks will also make nirogacestat commercially available alongside Blenrep.
Per the terms, GSK will invest $75 million as an equity investment in SpringWorks’ common stock. SpringWorks will be eligible to receive potential milestone payments of up to $550 million. However, SWTX will continue to hold commercial rights over nirogacestat.
Shares of SpringWorks were up 7.2% following the news announcement. Yet, the stock has plunged 55% in the year compared with the industry’s 25.7% decline.
Image Source: Zacks Investment Research
This collaboration extends the clinical trial and supply agreement between SpringWorks and GSK in 2019. The original agreement aims to evaluate the combination of nirogacestat and Blenrep in patients with relapsed/refractory MM.
Unlike the original one, the new agreement includes developing and commercializing the nirogacestat and Blenrep combination in earlier lines of treatment for MM, including newly-diagnosed patients.
GSK will continue to fund all development costs for the combination studies undertaken. However, SpringWorks will be responsible for all costs related to the supply of nirogacestat and certain expenses related to intellectual property rights.
Nirogacestat is SpringWorks’ most advanced pipeline candidate, which is being evaluated in the phase III DeFi study to treat desmoid tumors. This May, SWTX announced top-line results from the DeFi study, achieving both its primary and secondary endpoints. Based on these data, management intends to file a new drug application (NDA) with the FDA later this year in the given indication.
Currently, SpringWorks has no marketed drugs in its portfolio. Entering into collaboration agreements will enable the company to earn milestone and royalty payments to fund the development of its pipeline candidates.
Apart from GSK, the company has also entered into a similar agreement with AbbVie (ABBV - Free Report) and Regeneron (REGN - Free Report) , evaluating the combination of nirogacestat and the AbbVie and Regeneron’s respective BCMA-specific antibodies for treating relapsed/refractory MM.
SpringWorks had entered into a collaboration with AbbVie last December to evaluate the combination of nirogacestat plus AbbVie’s ABBV-383 in relapsed/refractory MM. A similar agreement was entered with Regeneron to evaluate the combination of nirogacestat plus Regeneron’s REGN5458 in relapsed/refractory MM.
Similar to GSK, AbbVie and Regeneron will be responsible for funding all development costs associated with the study, except for the costs pertaining to the supply of nirogacestat.
SpringWorks Therapeutics Price
SpringWorks Therapeutics price | SpringWorks Therapeutics Quote
Zacks Rank
SpringWorks carries a Zacks Rank #3 (Hold) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.