Shares of SpringWorks Therapeutics up 14.4% to about $24 in premarket trading.
After market close on Monday, U.S. health regulator approved co's drug, Ogsiveo, for treating adult patients with desmoid tumors, making it the first approved treatment for this type of non-cancerous soft-tissue growth.
The monotherapy nirogacestat, branded as Ogsiveo, to be available in the United States within 10 days of approval - CEO.
Desmoid tumors are rare, abnormal, non-cancerous growths that occur in connective tissues and are associated with a high rate of recurrence.
As of last close, stock down 20.2% YTD.
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