SpringWorks Therapeutics Stock Is Trading Higher After Nirogacestat Combo Study Starts Dosing In Multiple Myeloma Patients - Johnson & Johnson (NYSE:JNJ), SpringWorks Therapeutics (NASDAQ:SWTX)

SpringWorks Therapeutics Inc SWTX has dosed the first patient in a Phase 1b clinical trial evaluating nirogacestat combined with Johnson & Johnson's JNJJanssen's teclistamab in patients with relapsed or refractory multiple myeloma.
Nirogacestat is an investigational gamma-secretase inhibitor (GSI) developed by SpringWorks.
Teclistamab, an investigational bispecific antibody, targets B-cell maturation antigen (BCMA) and CD3.
Gamma secretase inhibition prevents the cleavage and shedding of BCMA from the surface of myeloma cells.
Janssen conducts the Phase 1b trial, which is part of a multi-arm trial, and an open-label study to evaluate the safety, tolerability, and preliminary efficacy of the nirogacestat combo.
The trial is being advanced under a clinical collaboration and supply agreement that SpringWorks entered into with Janssen in September last year.
Under the terms of the agreement, Janssen will be responsible for all the Phase 1b study costs.
SpringWorks has formed a joint oversight committee with Janssen to coordinate the sharing of study results, regulatory and other activities connected with the study.
Price Action: SWTX shares are trading 7.1% higher at $73.57 in the premarket trading on the last check Thursday.