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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