Hutchmed (China) Limited Stock Price, News & Analysis

HUTCHMED has initiated a Phase Ib/II study of fruquintinib combined with tislelizumab for patients with advanced triple negative breast cancer (TNBC) and advanced endometrial cancer (EC). The first patient was dosed on August 24, 2021. The trial evaluates safety and efficacy, with a focus on enhancing immune checkpoint inhibition. Fruquintinib is designed to block tumor angiogenesis and has previously shown potential in treating metastatic colorectal cancer in China. The company holds all rights to fruquintinib outside China.

HUTCHMED has been selected as a constituent stock of various indexes by Hang Seng Indexes, including the Hang Seng Composite Index, effective September 6, 2021. This inclusion signifies HUTCHMED's representation in the top 95th percentile of market capitalization on the Hong Kong Stock Exchange. Additionally, the company will be part of six cross-market indexes, including the Hang Seng Stock Connect China 500 Index, which tracks the largest Chinese companies. HUTCHMED is committed to developing cancer therapies and has advanced multiple drug candidates into clinical studies.

HUTCHMED and Epizyme announced a collaboration to develop TAZVERIK^® in Greater China. Epizyme will receive an upfront payment of $25 million, potential milestones of up to $285 million, and tiered royalties. HUTCHMED gains development and commercial rights in China. TAZVERIK^®, an EZH2 inhibitor FDA-approved for certain cancers, aims to accelerate clinical trials in various malignancies. HUTCHMED plans to lead trials in combination with other therapies and commercialize the drug upon approval.

Epizyme and HUTCHMED announced a collaboration to develop and commercialize TAZVERIK^® in Greater China, which includes mainland China, Hong Kong, Macau, and Taiwan. TAZVERIK^® is an FDA-approved EZH2 methyltransferase inhibitor for certain patients with epithelioid sarcoma and follicular lymphoma. Epizyme will receive a $25 million upfront payment, with potential milestone payments of up to $285 million, plus royalties. HUTCHMED will lead clinical trials and commercialization in the region, aiming to expand TAZVERIK^®'s reach and potential applications.

HUTCHMED reported significant growth in its interim financial results for H1 2021, with total revenues up by 47% to $157.4 million. Sales for ELUNATE® surged 186% to $40.1 million, while SULANDA® generated $8.0 million since its January launch. The company received its first approval in China for ORPATHYS® and accepted applications for surufatinib in the U.S. and E.U. HUTCHMED raised $615 million through an additional listing on HKEX, bolstering its cash resources to approximately $1.2 billion.

HUTCHMED and AstraZeneca have launched a Phase II study of ORPATHYS® (savolitinib) for treating advanced MET amplified gastric cancer. The trial, initiated on July 27, 2021, aims to assess efficacy, safety, and pharmacokinetics with a focus on objective response rate (ORR). This follows the successful VIKTORY trial, which reported a 50% ORR. MET amplification is found in 4-6% of gastric cancer patients, with about 24,000 cases annually in China. ORPATHYS® is already marketed in China for non-small cell lung cancer with specific MET alterations.

HUTCHMED (HCM) announced the end of the stabilization period for its Global Offering on July 23, 2021. Morgan Stanley Asia Limited acted as the Stabilizing Manager, undertaking stabilizing actions that included over-allocations of 15,600,000 Offer Shares, representing about 15% of the total Offer Shares. Additionally, these shares were borrowed to cover over-allocations. The Over-allotment Option was fully exercised on July 12, 2021. No market purchases were made for price stabilization during this period. For detailed information, refer to the company’s announcement from July 12, 2021.

The European Medicines Agency (EMA) has accepted HUTCHMED's marketing authorization application for surufatinib, aimed at treating neuroendocrine tumors (NETs). This follows recent FDA NDA acceptance in the U.S. for the same indication. Surufatinib offers a dual mechanism to inhibit tumor growth by targeting specific receptors. Positive results from two Phase III studies in China support the application, indicating a growing potential market as the drug is already launched in China.

HUTCHMED announces the first commercial sale of ORPATHYS^® (savolitinib) in China, which occurred on July 12, 2021. This follows the June 22, 2021 approval for treating non-small cell lung cancer (NSCLC) patients with MET exon 14 skipping alterations. A milestone payment of $25 million from AstraZeneca is triggered by this sale. ORPATHYS^® targets a critical mutation affecting 2-3% of NSCLC patients, with a notable prevalence in aggressive subtypes. The drug's efficacy is supported by robust clinical trial data, showing a 42.9% objective response rate.