Bring a large pot of salted water to a boil. Add farfalle and cook until al dente, according, about 10 minutes, stirring occasionally. Reserve 1 cup of pasta water before draining the rest of the water.
Heat a large skillet over medium heat. Melt the butter. Add mushrooms and sauté until soft and most liquid has evaporated, about 5 minutes. Season with salt.
Add asparagus and sauté until crisp and tender, about 5 minutes. Add farfalle. Stir in cream cheese spread and nutmeg. Melt and stir until cheese coats the pasta.
Stir in 1/2 cup reserved pasta water. Add 1/4 cup of toasted walnuts and season to taste with salt and pepper.
Add pasta into a large serving bowl. Top with remaining walnuts and parmesan cheese. Serve and enjoy!