SWTX Announces 2024 Preliminary Results, 2025 Goals, Stock Down

SpringWorks Therapeutics SWTX announced preliminary net product revenues for fourth-quarter and full-year 2024 for its sole marketed drug, Ogsiveo (nirogacestat). The drug is approved for treating adult patients with progressing desmoid tumors who require systemic treatment.

The company also outlined some expected milestones related to its commercial portfolio and other pipeline candidates for 2025.

Shares of SWTX were down 13.9% on Jan. 13 following the news announcement.

In the past year, shares of SpringWorks have lost 9.6% compared with the industry’s decline of 16.3%.

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SWTX's Preliminary Results for 2024

Preliminary revenues from Ogsiveo sales were $61.5 million in the fourth quarter and $172 million in full-year 2024.

This can be a reason for the stock decline as investors seemed not too impressed with the preliminary sales numbers.

SpringWorks had cash, cash equivalents and marketable securities worth $461.9 million as of Dec. 31, 2024. Management expects this cash balance to fund the company through profitability, which is expected in the first half of 2026.

SWTX's 2025 Expected Milestones and Pipeline Goals

The marketing authorization application for Ogsiveo for treating adult patients with desmoid tumors is currently under review with the European Medicines Agency (“EMA”). A potential approval in the EU is expected in 2025.

Upon potential approval, management plans to launch Ogsiveo in the EU, starting with Germany in mid-2025.

Several additional studies on Ogsiveo, targeting different cancer indications, are currently ongoing.

SWTX also plans to report initial data from a phase II study evaluating nirogacestat as a monotherapy in patients with recurrent ovarian granulosa cell tumors in the first half of 2025.

A regulatory filing seeking approval for SpringWorks’ investigational MEK inhibitor, mirdametinib, for the treatment of neurofibromatosis type 1- associated plexiform neurofibromas (NF1-PN), in pediatric and adult patients is currently under review in the United States.

A final decision from the FDA is expected on Feb. 28, 2025.

A marketing authorization application for mirdametinib has also been validated by the European Medicines Agency.

SpringWorks is also evaluating its investigational, oral, selective pan-TEAD inhibitor, SW-682, in a phase I study for treating patients with Hippo-mutant solid tumors. The study is currently enrolling patients.

SWTX's Zacks Rank & Stocks to Consider

SpringWorks currently carries a Zacks Rank #4 (Sell).

Some better-ranked stocks in the biotech sector are Voyager Therapeutics, Inc. VYGR, CytomX Therapeutics, Inc. CTMX and Castle Biosciences, Inc. CSTL, each sporting a Zacks Rank #1 (Strong Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.

In the past 60 days, estimates for Voyager Therapeutics’ loss per share have narrowed from $1.68 to $1.48 for 2025. In the past year, shares of VYGR have plunged 32.9%.

VYGR’s earnings beat estimates in each of the trailing four quarters, the average surprise being 120.87%.

In the past 60 days, estimates for CytomX Therapeutics’ loss per share have narrowed from 46 cents to 35 cents for 2025. In the past year, shares of CTMX have plunged 48.7%.

CTMX’s earnings beat estimates in two of the trailing four quarters while missing the same on the remaining two occasions, the average surprise being 115.70%.

In the past 60 days, estimates for Castle Biosciences’ loss per share have narrowed from $1.88 to $1.84 for 2025. In the past year, shares of CSTL have surged 30.6%.

CSTL’s earnings beat estimates in each of the trailing four quarters, the average surprise being 172.72%.

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