May 27 ASCO Quick Takes: SpringWorks falls on weakness of combo data

SpringWorks Therapeutics Inc. (NASDAQ:SWTX) fell 40% to $18.36 Friday after new data to be presented at the 2022 American Society of Clinical Oncology annual meeting showed that in the Phase I/II DREAMM-5 study, the combination of low-dose BCMA-targeted ADC Blenrep belantamab mafodotin-blmf plus SpringWorks’ nirogacestat led to an overall response rate (ORR) of 38% in late-stage MM patients vs. 50% for the Blenrep monotherapy arm. The combo did achieve its stated aim of demonstrating a lower rate of ocular toxicity with the combination, with 7% of patients having grade 3 ocular toxicity vs. 50% in the Blenrep monotherapy cohort. MM patients in the study had received at least three prior lines of therapy. On Tuesday, SpringWorks said the γ secretase inhibitor met the primary endpoint in a Phase III trial to treat desmoid tumors. The company’s stock ended the week down 50%, knocking the company’s valuation to about $960 million.

Adicet Bio Inc. (NASDAQ:ACET) reported updated data from a Phase I trial of ADI-001 that showed a 67% ORR and complete response (CR) complete in six non-Hodgkin’s lymphoma (NHL) patients. The allogeneic anti-CD20 γδ CAR T cell therapy was well tolerated with no reported grade 3 or above cases of cytokine release syndrome (CRS), immune effector cell-associated neurotoxicity syndrome (ICANS) or graft vs. host disease (GvHD). Adicet rose 15% to $11.75. ...