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Slideshow Secondary Stock Offerings

By The Online Investor Staff, updated Sat., Oct. 24, 10:00 AM

Slide #17. SpringWorks Therapeutics, Inc. Secondary Offering

Company: SpringWorks Therapeutics, Inc. (NASDAQ:SWTX)
Date announced: 10/6/2020
Shares Offered: 4,901,960
Date of Pricing: 10/7/2020
Price Per Share: $51.00
Secondary Offering Details: SpringWorks Therapeutics, Inc. (Nasdaq: SWTX), a clinical-stage biopharmaceutical company focused on developing life-changing medicines for patients with severe rare diseases and cancer, announced today that it has commenced an underwritten public offering of $150,000,000 of shares of its common stock. All of the shares in the offering will be sold by SpringWorks. In addition, SpringWorks expects to grant the underwriters a 30-day option to purchase up to an additional $22,500,000 of shares of its common stock in the offering. The proposed offering is subject to market and other conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering. -updated 10/7- SpringWorks Therapeutics, Inc. (Nasdaq: SWTX), a clinical-stage biopharmaceutical company focused on developing life-changing medicines for patients with severe rare diseases and cancer, announced today the pricing of an underwritten public offering of 4,901,960 shares of its common stock at a public offering price of $51.00 per share, before underwriting discounts and commissions. All of the shares in the offering are being sold by SpringWorks. In addition, SpringWorks has granted the underwriters a 30-day option to purchase up to an additional 735,294 shares of its common stock at the public offering price, less underwriting discounts and commissions. The gross proceeds from the offering, before deducting underwriting discounts and commissions and estimated offering expenses, are expected to be approximately $250 million, excluding any exercise of the underwriters' option to purchase additional shares. The offering is expected to close on or about October 13, 2020, subject to the satisfaction of customary closing conditions.

SpringWorks Therapeutics is a clinical-stage biopharmaceutical company applying a precision medicine approach to acquiring, developing and commercializing medicines for underserved patient populations suffering from devastating rare diseases and cancer. Co.'s product candidate, nirogacestat, is an oral, small molecule gamma secretase inhibitor for the treatment of desmoid tumors, a rare and often debilitating and disfiguring soft tissue tumor. Co.'s second product candidate is mirdametinib, an oral, small molecule MEK inhibitor for the treatment of neurofibromatosis type 1-associated plexiform neurofibromas, a rare tumor of the peripheral nerve sheath that causes pain and disfigurement.

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Company Name:  SpringWorks Therapeutics Inc
Website:  www.springworkstx.com
Sector:  Biotechnology
Number of ETFs Holding SWTX:  16
Total Market Value Held by ETFs:  $100.59M
Total Market Capitalization:  $2.47B
% of Market Cap. Held by ETFs:  4.07%
 

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October 24, 2020    10:00 AM Eastern
Quotes delayed 20 minutes



Strong Buy (4.00 out of 4)
82nd percentile
(ranked higher than approx. 82% of all stocks covered)

Analysts' Target Price:
SWTX Stock Forecast

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