TD Cowen raised the firm’s price target on SpringWorks Therapeutics (SWTX) to $66 from $63 and keeps a Buy rating on the shares. The firm says Gomekli’s approval comes 17 days earlier than the FDA action date “with a clearly differentiated label” relative to AstraZeneca’s (AZN) Koselugo for adult and pediatric patients with neurofibromatosis type 1 who have symptomatic plexiform neurofibromas not amenable to complete resection. This should boost the bull case for the drug, the analyst tells investors in a research note. In addition, TD believes confirmation of acquisition discussions with Merck KgaA (MKGAY) makes sense given synergy in the business heading into launch of Gomekli globally and Ogsiveo in Europe.
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- Springworks Therapeutics Gains FDA Approval for GOMEKLI
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