Saqib Islam, SpringWorks CEO

#ES­MO22: Af­ter day filled with in­vestor, GSK ap­petite, Spring­Works brings out the da­ta for can­cer drug near­ing FDA

On the cusp of ask­ing the FDA to ap­prove its can­cer drug for pro­gress­ing desmoid tu­mors, Spring­Works is out with a fuller pic­ture of the ther­a­py’s per­for­mance in a Phase III tri­al four months af­ter de­clar­ing a topline win.

But be­fore the biotech could dis­close those re­sults in a late-break­ing oral pre­sen­ta­tion at ES­MO, Spring­Works teed up in­vestor in­ter­est with a $225 mil­lion pri­vate place­ment and an ex­pand­ed col­lab­o­ra­tion with GSK on a Blenrep com­bi­na­tion, which in­cludes $75 mil­lion in eq­ui­ty and $550 mil­lion on the line. Those two deals, padding Spring­Works’ cash re­serves un­til 2026, led to a near­ly 6% uptick in the com­pa­ny’s shares {SWTX} Wednes­day af­ter­noon.

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