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SpringWorks Therapeutics Stock Is Trading Higher After Nirogacestat Combo Study Starts Dosing In Multiple Myeloma Patients

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  • SWTX
  • JNJ
  • SpringWorks Therapeutics Inc (NASDAQ: SWTX) has dosed the first patient in a Phase 1b clinical trial evaluating nirogacestat combined with Johnson & Johnson's (NYSE: JNJ)Janssen'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.

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