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SpringWorks Inks Deal With Pfizer for Nirogacestat Combo

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SpringWorks Therapeutics, Inc. (SWTX - Free Report) announced that it has entered into a clinical collaboration with pharma giant Pfizer (PFE - Free Report) to evaluate its investigational gamma secretase inhibitor (GSI) nirogacestat in combination with the latter’s BCMA-targeted therapy PF-06863135 for the treatment of patients with relapsed or refractory multiple myeloma (MM).

Shares of SpringWorks were up 3.1% following the above-mentioned news on Monday. In fact, the stock has rallied 29.5% so far this year against the industry’s decrease of 3%.

Per the agreement, Pfizer will fund and conduct the phase Ib/II study to evaluate the safety, tolerability and preliminary efficacy of the nirogacestat combo and will bear all costs associated with the same. SpringWorks and Pfizer will jointly manage the clinical study on nirogacestat plus PF-06863135, which is expected to begin in the first half of 2021.

We note that Pfizer is developing PF-06863135 in a phase I study to treat relapsed or refractory multiple myeloma. The candidate as a monotherapy demonstrated promising clinical data.

Notably, this deal with Pfizer is the fifth industry collaboration by SpringWorks to evaluate nirogacestat as a BCMA potentiator across modalities including an antibody-drug conjugate, two CAR T cell therapies and two bispecific antibodies.

Per the press release, nirogacestat demonstrated the ability to increase the cell surface density of BCMA and reduce the levels of soluble BCMA as a result enhancing the activity of BCMA-targeted therapies. With this alliance, SpringWorks continues to advance its goal of developing nirogacestat as a best-in-class BCMA potentiator.

SpringWorks is currently evaluating nirogacestat in a double-blind, placebo-controlled phase III DeFi Trial for treating adult patients with progressing desmoid tumors. The candidate received an Orphan Drug designation from the FDA as well as the European Commission for the treatment of desmoid tumors and soft tissue sarcoma, respectively.

Meanwhile, in August 2020, SpringWorks dosed the first patient in a phase Ib study evaluating nirogacestat in combination with GlaxoSmithKline’s (GSK - Free Report) antibody drug conjugate Blenrep for treating patients with relapsed or refractory MM.

Zacks Rank & Key Pick

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

A better-ranked stock in the healthcare sector is Kindred Biosciences, Inc. (KIN - Free Report) , presently sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

Kindred Biosciences’ loss per share estimates have narrowed 61.3% for 2020 and 20.5% for 2021 over the past 60 days.

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