Phase II data could drive SpringWorks' Ogsiveo (nirogacestat) to approval in second indication | $SWTX
SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) became a commercial biotech in November 2023 after the FDA approved nirogacestat, now branded as Ogsiveo, as a monotherapy to treat adults with desmoid tumors. While most of the investor spotlight on SpringWorks centers on the anticipated approval of mirdametinib to treat a mostly benign disease, the company plans to release Ogsiveo data from a phase II trial in ovarian granulosa cell tumors (OvGCTs) before year’s end.
Approval in the OvGCT indication would advance Ogsiveo into treatment of tumors that can lead to more serious cancer. Moreover, it would solidify the projected peak revenue for Ogsiveo. After the approval in desmoid tumors, one analyst projected peak revenue of $615 million. That projection, however, was increased to $810 million after SpringWorks set annualized pricing of Ogsiveo to $348,000. Before approval, the projected annual price was $200,000. A second analyst pegged $544 million in peak revenue in 2032 and forecast $79 million in 2024 sales. Significantly, Ogsiveo recorded $61.2 in net product revenue in the first six months of 2024, signaling strong adoption by clinicians.
Key catalysts
Initial data from phase II trial of Ogsiveo (nirogacestat) to treat ovarian granulosa cell tumors
Key catalyst dates
2H 2024
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