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SpringWorks (SWTX) Begins Dosing in Multiple Myeloma Study

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SpringWorks Therapeutics, Inc. (SWTX - Free Report) announced that it has dosed the first patient in a phase Ib study evaluating its investigational gamma secretase inhibitor nirogacestatin combination with teclistamab for the treatment of patients with relapsed/refractory multiple myeloma.

Please note that, teclistamab, an investigational bispecific antibody targeting B-cell maturation antigen (“BCMA”) and CD3, is being developed by Janssen, a wholly owned subsidiary of Johnson and Johnson (JNJ - Free Report) .

The above-mentioned study is part of a multi-arm study being conducted by Janssen. The same will evaluate the safety, tolerability and preliminary efficacy of nirogacestat plus teclistamab in the given patient population.

Shares of SpringWorks have inched up 0.2% so far this year compared with the industry’s increase of 0.5%.

price chart for SWTX

Notably, in September 2020, SpringWorks entered into a collaboration and supply agreement with Janssen, wherein the later agreed to bear all costs related to the phase Ib study, apart from expenses on the supply of nirogacestat.

We remind investors that, in October 2020, SpringWorks entered into a clinical collaboration with Pfizer (PFE - Free Report) to evaluate nirogacestat in combination with the latter’s BCMA-targeted therapy, PF-06863135, for the treatment of patients with relapsed or refractory multiple myeloma.

Also, 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 multiple myeloma.

Meanwhile, SpringWorks is 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 from the European Commission for the treatment of desmoid tumors and soft tissue sarcoma, respectively.

Zacks Rank

SpringWorks currently carries a Zacks Rank #4 (Sell).You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

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