SpringWorks Therapeutics, Inc. (NASDAQ:SWTX) Q1 2024 Earnings Call Transcript

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Saqib Islam: Well, I think if you’re asking a question about patient renewals, I think that we expect and we continue to experience the renewals that you would see with the first and only approved treatments in the market and a high degree of confidence for patients to stay on treatment. The data that we have shown that I can point to from a Phase 2 and Phase 3 of patients staying on treatment for an extended duration would certainly imply that you’ve got the vast majority of those patients from the — our December numbers continuing to build and as we would expect, stack into this quarter and the quarters that we would have going forward. As it relates to the blister pack, listen, we do this as an innovation for patients. It is a convenience for them.

We think there is a meaningful opportunity to once more put the patients at the center of everything we do and allow them the convenience of taking fewer pills in a more organized fashion. And we think it is going to be meaningful and will benefit compliance and certainly benefit the patients going forward. Thank you, Alec.

Operator: Thank you. Please stand by for our next question. Our last question comes from the line of Michael Schmidt with Guggenheim. Your line is open.

Michael Schmidt: Hey, guys. Thanks for taking our questions and congrats on the great early launch. I think a lot of the feedbacks are very consistent with what we’ve heard in our own survey work. But yes, Saqib, perhaps just a question on reimbursement, I know that desmoid tumors is a very low Medicare market, Medicare percentage population. But have there been any seasonal headwinds in the first quarter that could alleviate over the rest of the year? Do you have any visibility on any sort of early seasonality? I know it’s early in the launch, but curious. Thanks so much.

Saqib Islam: Sure. Thank you. So I will take the first part of that question and then pass it over to Bhavesh to take the rest. I would say that from where we stand at the moment, you are correct that this is largely a commercial payer population as you think of the age of the patients who are first diagnosed with desmoid tumors. So it’s largely commercially focused. And we’ve been incredibly pleased with where we stand from a reimbursement standpoint. And I think a lot of good work has gone into that from the team. Bhavesh, I’ll let you talk about that.

Bhavesh Ashar: Thank you. Yes. So no, look, with 4 months into launch, we’re in a very strong position from an access standpoint. The vast majority of our adult patients with desmoid tumors have coverage and very strong coverage, right? We’ve achieved broad access across all segments; Commercial, Medicare, Medicaid. And even from a mix perspective, the mix has been pretty much what you would expect based on the age range for desmoid tumor patients with majority skewing towards commercial. And no surprises towards the payer mix and neither any surprises towards the quick availability of access for these patients. So all in line with expectations.

Operator: Thank you. Ladies and gentlemen, that concludes today’s conference call. Thank you for participation. You may now disconnect.

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