SpringWorks Therapeutics, Inc. (NASDAQ: SWTX) incurred a loss of 54 cents per share in the second quarter of 2024, which was significantly narrower than the Zacks Consensus Estimate of a loss of $1.12. The company had reported a loss of $1.25 per share in the year-ago quarter. In the second quarter, total revenues were $59.7 million, which also comprehensively beat the Zacks Consensus Estimate of $35 million. Total revenues comprised net product sales of Ogsiveo (nirogacestat) and other revenues. The company did not generate any revenues in the year-ago quarter. Ogsiveo was approved by the FDA for treating adult patients with progressing desmoid tumors who require systemic treatment in November 2023. Following the FDA nod, not only Ogsiveo became the first approved product in the company's portfolio, but it also became the first approved drug for treating desmoid tumors, a rare, aggressive tumor of the soft tissues. Shares of SpringWorks have declined 7.1% year to date compared with the industry's decrease of 4.4%. Image Source: Zacks Investment Research Quarter in Detail Net product revenues from Ogsiveo surged 91.4% on a sequential basis to $40.2 million, driven by a strong commercial launch and high demand for the drug. Per management, Ogsiveo has rapidly become the standard of care systemic therapy for patients with desmoid tumors since its approval last November. The marketing authorization application for Ogsiveo for the treatment of adult patients with desmoid tumors is currently under review with ...