SpringWorks Therapeutics, a clinical-stage biotech developing small molecule therapies for rare cancers, filed on Friday with the SEC to raise up to $115 million in an initial public offering.
SpringWorks' lead product candidate, nirogacestat, is an oral, small molecule gamma secretase inhibitor, initially in development for the treatment of desmoid tumors, a rare soft tissue tumor, for which there are currently no FDA-approved therapies. Nirogacestat was granted both Orphan Drug Designation and Fast Track Designation in August 2017, and a Phase 3 clinical trial was initiated in May 2019.
The Stamford, CT-based company was founded in 2017 and plans to list on the Nasdaq under the symbol SWTX. SpringWorks Therapeutics filed confidentially on June 7, 2019. J.P. Morgan, Goldman Sachs and Cowen are the joint bookrunners on the deal. No pricing terms were disclosed.
