SpringWorks Therapeutics misses by $0.20 (48.48)
- Reports Q4 (Dec) loss of $1.44 per share, $0.20 worse than the FactSet Consensus of ($1.24).
- Revenues: OGSIVEO net product revenues were $5.4 million in the fourth quarter of 2023, the first partial quarter of the U.S. launch.
Research and Development (R&D) Expenses: R&D expenses were $43.7 million and $150.5 million for the fourth quarter and full year 2023, respectively, compared to $37.9 million and $146.1 million for the comparable periods of 2022. The increase in R&D expense for the fourth quarter and year ended 2023 was primarily attributable to an increase in employee costs associated with head count growth, partially offset by a decrease in costs related to drug manufacturing, clinical trials and other research. - Co Submitted Marketing Authorization Application to the European Medicines Agency for nirogacestat for the treatment of desmoid tumors --
- Co Presented positive topline data from Phase 2b ReNeu trial of mirdametinib in patients with NF1-PN; on track to submit New Drug Application in first half of 2024 --
- Co Submitted IND for SW-682 and received FDA clearance to proceed with Phase 1a trial --