SpringWorks Therapeutics, Inc. (SWTX) saw its stock soar 14.88% in pre-market trading on Thursday, following the company's better-than-expected fourth quarter 2024 financial results and the recent FDA approval for its new drug GOMEKLI™ (mirdametinib).
The biopharmaceutical company reported net product revenue of $61.5 million for its approved drug OGSIVEO® (nirogacestat) in the fourth quarter, contributing to a full-year 2024 revenue of $172.0 million. This outperformed analysts' estimates and demonstrated strong execution in the U.S. launch of OGSIVEO for the treatment of desmoid tumors.
Furthermore, SpringWorks received a significant boost with the FDA approval of GOMEKLI on February 11th for the treatment of adult and pediatric patients with neurofibromatosis type 1 (NF1) associated plexiform neurofibromas not amenable to complete resection. GOMEKLI is the first and only approved medicine for both adults and children with this rare condition, providing a promising new treatment option.
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