SpringWorks Therapeutics rises as canceled earnings call raises buyout hopes

SpringWorks Therapeutics

20/02/2025 12:35

** Shares of drugmaker SpringWorks Therapeutics  SWTX.O 
rise 10.12% to $61.37 premarket 
    ** Co says it will not host a conference call to discuss its
quarterly earnings, which Evercore ISI analysts say confirms
that its negotiations with Germany's Merck KGaA  MRCG.DE  for a
potential buyout "are still very much alive"
    ** Reuters reported on February 10 that Germany's Merck KGaA
 MRCG.DE  was in advanced talks to acquire the company; Merck
subsequently confirmed the talks 
    ** Separately, SpringWorks posts Q4 revenue of $61.5 mln,
versus analysts' est of $59.1 mln, as per data compiled by LSEG
    ** "This morning's 4Q print is in-line (recall January
pre-announcement) and irrelevant," says Evercore ISI 
    ** Stock has risen 3.2% since the Reuters report and 13.5%
in the past 12 months 

 (Reporting by Padmanabhan Ananthan)
 ((Padmanabhan.Ananthan@thomsonreuters.com;))