SpringWorks Therapeutics Shares Jump On HC Wainwright Bullish Pitch

  • HC Wainwright points out that investors are enthusiastic about SpringWorks Therapeutics Inc SWTX nirogacestat clinical profile for desmoid tumors after the R&D day held last week.
  • As per a survey of U.S. oncologists treating patients with desmoid tumors, roughly 80% and 87% of medical oncologists believe that nirogacestat compares favorably to Bayer AG's BAYRY Nexavar (sorafenib) and that they are willing to switch current patients to nirogacestat, respectively.
  • The analysts forecast nirogacestat achieving a peak penetration rate of 25% and 65% in the front-line and second-line desmoid tumor setting, respectively. 
  • Related: Why SpringWorks Shares Are Soaring Today Premarket?
  • They anticipate submitting an FDA marketing application for nirogacestat in desmoid tumors in 2H22.
  • Moving to SpringWorks' earlier stage pipeline, the management also provided initial results for mirdametinib combined with lifirafenib, BeiGene Ltd's BGNE
  • Most clinical responses came from patients with low-grade serous ovarian carcinoma with MAPK activating mutations, with a 73% ORR and a 100% disease control rate.
  • HC Wainwright reiterates a Buy rating on SpringWorks Therapeutics.
  • Price Action: SWTX shares are up 5.03% at $22.96 during the premarket session on the last check Monday.
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