SpringWorks Therapeutics SWTX incurred a loss of $1.04 per share in the fourth quarter of 2024, which was wider than the Zacks Consensus Estimate of a loss of 72 cents. The company had reported a loss of $1.44 per share in the year-ago quarter.
See the Zacks Earnings Calendar to stay ahead of market-making news.
In the fourth quarter, total revenues were $61.5 million, which beat the Zacks Consensus Estimate of $60 million. Total revenues comprised net product sales of Ogsiveo (nirogacestat). The company generated revenues worth $5.4 million in the year-ago quarter.
The FDA approved Ogsiveo for treating adult patients with progressing desmoid tumors who require systemic treatment in November 2023.
Following the FDA nod, Ogsiveo became the first approved product in the company’s portfolio and the first approved drug for treating desmoid tumors, a rare, aggressive tumor of the soft tissues.
Shares of SpringWorks were up 7.5% on Feb. 20 following the earnings announcement.
In the past year, the stock has rallied 22.1% against the industry’s decline of 8.3%.
Image Source: Zacks Investment Research
More on SWTX's Q4 Results
Net product revenues from Ogsiveo increased almost 24.7% on a sequential basis in the fourth quarter, driven by a strong commercial launch and high demand for the drug.
Management remains focused on making Ogsiveo the standard of care systemic therapy for patients with desmoid tumors.
Research and development expenses totaled $60.2 million in the fourth quarter, up 37.7% from the year-ago quarter’s level, owing to higher costs related to drug manufacturing and increased expenses related to ongoing clinical studies and consulting costs.
Selling, general and administrative expenses totaled $77.1 million, up around 28.9% year over year due to higher costs to support the launch of Gomekli (mirdametinib) in the United States.
As of Dec 31, 2024, SpringWorks had cash, cash equivalents and marketable securities worth $461.9 million compared with $498.1 million as of Sept. 30, 2024.
SWTX's Full-Year Results
For 2024, SpringWorks generated revenues of $191.6 million, compared with $5.4 million recorded in the year-ago quarter.
For the same period, the company reported a loss of $3.48 per share, narrower than a loss of $5.15 per share reported in the year-ago period.
SWTX's Recent Pipeline Updates
The marketing authorization application for Ogsiveo for treating adult patients with desmoid tumors is currently under review with the European Medicines Agency (“EMA”). A potential approval in the EU is expected later in 2025.
If approved, the company expects to launch Ogsiveo following reimbursement authorization in individual EU countries, starting with Germany in mid-2025.
Several additional studies on Ogsiveo, targeting different cancer indications, are currently ongoing.
Initial data from a phase II study evaluating nirogacestat as a monotherapy in patients with recurrent ovarian granulosa cell tumors is expected in the first half of 2025.
Earlier this month, the FDA approved SpringWorks’ MEK inhibitor, Gomekli (mirdametinib) for the treatment of adult and pediatric patients 2 years of age and older with neurofibromatosis type 1 (NF1) who have symptomatic plexiform neurofibromas (PN) not amenable to complete resection.
The product is now available through a specialty pharmacy and specialty distributor network in the United States.
A marketing authorization application for mirdametinib for the treatment of adults and children with NF1-PN has also been validated by the EMA. The company plans initial launch in the European Union in 2025, upon potential approval.
SpringWorks is evaluating its investigational, oral, selective pan-TEAD inhibitor, SW-682, in a phase I study for treating patients with Hippo-mutant solid tumors.
SpringWorks Therapeutics Price, Consensus and EPS Surprise
SpringWorks Therapeutics price-consensus-eps-surprise-chart | SpringWorks Therapeutics Quote
SWTX's Zacks Rank & Other Stocks to Consider
SpringWorks currently carries a Zacks Rank #2 (Buy).
Some other top-ranked stocks in the biotech sector are argenx SE ARGX, and Pacira BioSciences, Inc. PCRX, each sporting a Zacks Rank #1 (Strong Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
In the past 60 days, estimates for argenx’s earnings per share have increased from $9.07 to $10.85 for 2025. In the past year, shares of ARGX have risen 59.5%.
ARGX’s earnings beat estimates in two of the trailing four quarters while missing the same on the remaining two occasions, the average surprise being 339.37%.
In the past 60 days, estimates for Pacira BioSciences’ earnings per share have increased from $2.79 to $3.46 for 2025. In the past year, shares of PCRX have decreased 14.2%.
PCRX’s earnings beat estimates in two of the trailing four quarters, met the same once and missed the same on the remaining occasion, the average surprise being 7.13%.
Research Chief Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
This company targets millennial and Gen Z audiences, generating nearly $1 billion in revenue last quarter alone. A recent pullback makes now an ideal time to jump aboard. Of course, all our elite picks aren’t winners but this one could far surpass earlier Zacks’ Stocks Set to Double like Nano-X Imaging which shot up +129.6% in little more than 9 months.
Free: See Our Top Stock And 4 Runners UpPacira BioSciences, Inc. (PCRX) : Free Stock Analysis Report
argenex SE (ARGX) : Free Stock Analysis Report
SpringWorks Therapeutics (SWTX) : Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
