SpringWorks gains after FDA approves non-cancerous tumor treatment for adults

SpringWorks Therapeutics

28/11/2023 15:39

(Updates)
    ** Shares of SpringWorks Therapeutics  SWTX.O  up 23.2% at
$25.60
        ** Stock among top three pct. gainers across U.S. stock
exchanges 
  
    ** SWTX's desmoid tumor drug will be sold in the U.S. at a
list price of $29,000 for a 30-day supply, the company said on a
conference call 
    ** After market close on Monday, U.S. health regulator
approved co's drug, Ogsiveo, for treating adult patients with
desmoid tumors, making it the first approved treatment for this
type of non-cancerous soft-tissue growth
    ** The monotherapy nirogacestat, branded as Ogsiveo, to be
available in the United States within 10 days of approval - CEO
    ** Desmoid tumors are rare, abnormal, non-cancerous growths
that occur in connective tissues and are associated with a high
rate of recurrence 
    ** At current gains, stock poised to erase almost all YTD
losses

 (Reporting by Pratik Jain in Bengaluru)
 ((Pratik.Jain@thomsonreuters.com;))