SpringWorks Therapeutics Stock Is Trading Higher After Nirogacestat Combo Study Starts Dosing In Multiple Myeloma Patients
- SpringWorks Therapeutics Inc (NASDAQ: SWTX) has dosed the first patient in a Phase 1b clinical trial evaluating nirogacestat combined with Johnson & Johnson's (NYSE: JNJ)Janssen's teclistamab in patients with relapsed or refractory multiple myeloma.
- Nirogacestat is an investigational gamma-secretase inhibitor (GSI) developed by SpringWorks.
- Teclistamab, an investigational bispecific antibody, targets B-cell maturation antigen (BCMA) and CD3.
- Gamma secretase inhibition prevents the cleavage and shedding of BCMA from the surface of myeloma cells.
- Janssen conducts the Phase 1b trial, which is part of a multi-arm trial, and an open-label study to evaluate the safety, tolerability, and preliminary efficacy of the nirogacestat combo.
- The trial is being advanced under a clinical collaboration and supply agreement that SpringWorks entered into with Janssen in September last year.
- Under the terms of the agreement, Janssen will be responsible for all the Phase 1b study costs.
- SpringWorks has formed a joint oversight committee with Janssen to coordinate the sharing of study results, regulatory and other activities connected with the study.
- Price Action: SWTX shares are trading 7.1% higher at $73.57 in the premarket trading on the last check Thursday.
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