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SpringWorks Therapeutics files for IPO

SpringWorks Therapeutics Inc. filed a registration statement with the U.S. Securities and Exchange Commission to launch an IPO on Nasdaq.

The Connecticut-based biopharmaceutical company has applied to list its common shares on the Nasdaq Global Market under the ticker SWTX.

The company would be offering 7,352,941 common shares within a price range of $16 to $18 each. Underwriters would be offered a 30-day option to buy up to 1,102,941 additional shares at the IPO price, less the underwriting discounts and commissions.

The estimated net proceeds from the offering would be about $113 million if each share is priced at $17 and if the underwriters do not exercise their overallotment option.

SpringWorks Therapeutics plans to use the net proceeds from this offering to further the clinical development of its drugs nirogacestat and mirdametinib, among other things.

Goldman Sachs & Co. LLC, Wedbush PacGrow, J.P. Morgan Securities LLC and Cowen and Co. LLC are acting as underwriters in connection with the IPO.