SpringWorks Therapeutics Trading Volume Drops 82.28% to $652 Million Amid Merck Acquisition

On April 29, 2025, SpringWorks Therapeutics (SWTX) saw a trading volume of $652 million, marking an 82.28% decrease from the previous day. The stock price rose by 0.13%, marking the second consecutive day of gains, with a total increase of 3.40% over the past two days.

Merck KGaA, Darmstadt, Germany, has announced its intention to acquire SpringWorks Therapeutics for approximately $3.9 billion in equity, or $3.4 billion in enterprise value. The acquisition includes a purchase price of $47 per share, representing a 26% premium over SpringWorks' average price. This strategic move aims to accelerate the sustainable growth of Merck's healthcare business by focusing on rare tumors and strengthening its presence in the U.S. market.

SpringWorks Therapeutics brings a portfolio that includes OGSIVEO® (nirogacestat), the first FDA-approved systemic therapy for desmoid tumors, and GOMEKLI™ (mirdametinib), the first and only FDA-approved treatment for adults and children with neurofibromatosis type 1 (NF1) with symptomatic plexiform neurofibromas not amenable to surgery. The acquisition is expected to contribute to revenues immediately and be EPS pre-accretive by 2027.

Both companies' Boards of Directors have unanimously approved the transaction, which is expected to close in the second half of 2025, subject to customary closing conditions, shareholder approval, and regulatory approvals. Financial advisors for Merck KGaA include J.P. Morgan, with Sullivan & Cromwell LLP serving as legal counsel. Centerview Partners LLC and Goldman Sachs & Co. LLC acted as joint financial advisors to SpringWorks, with Goodwin Procter LLP providing legal advice.