US FDA approves SpringWorks Therapeutics' non-cancerous tumor treatment (updated)

SpringWorks Therapeutics

27/11/2023 22:56

(Adds share movement in paragraph 2, details in paragraphs 3 to
5)
       Nov 27 (Reuters) - The U.S. health regulator on Monday
approved SpringWorks Therapeutics'  SWTX.O  drug for treating
adult patients with desmoid tumors, making it the first approved
treatment for this type of non-cancerous soft-tissue growth.
    Shares of the company were up about 15% after the bell.
    The company expects the monotherapy nirogacestat, branded as
Ogsiveo, to be available in the United States within 10 days of
approval, CEO Saqib Islam had told Reuters ahead of the Food and
Drug Administration's decision.
    Desmoid tumors are rare, abnormal non-cancerous growths that
occur in connective tissues and are associated with a high rate
of recurrence, with higher prevalence in females.
    An estimated 1,650 people in the U.S. are diagnosed with
desmoid tumors each year, according to data from the National
Institutes of Health.

 (Reporting by Pratik Jain and Christy Santhosh in Bengaluru;
Editing by Shilpi Majumdar and Shailesh Kuber)
 ((Pratik.Jain@thomsonreuters.com;))