The HUTCHMED (China) Ltd (LON: HCM) share price gapped 11.9% higher today despite the company's lack of news releases. Therefore, the gap higher could be attributed to positive investor sentiment or a delayed reaction to previous news reports. Hence, we have to look at the company’s past reports.
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The last significant news release from the company was on 12 September, when it told investors that it had presented the results of its confirmatory Phase IIIb clinical trial of savolitinib in patients with mesenchymal-epithelial transition factor (MET) exon 14 skipping alteration non-small cell lung cancer (NSCLC), during the IASLC 2023 World Conference on Lung Cancer.
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The International Association for the Study of Lung Cancer (IASLC) hosted the Lung Cancer World Conference for the Study of Lung Cancer (WCLC) in Singapore from September 9 to 12, 2023. The first presentation was titled “A Phase 3b Study of 1L Savolitinib in Patients with Locally Advanced or Metastatic NSCLC Harboring MET Exon 14 Mutation.”
The above study was led by Shun Lu, MD, head of the Shanghai Lung Cancer Center, who reported initial efficacy and safety data from the first-line cohort of a confirmatory Phase IIIb trial conducted in China of savolitinib as a monotherapy in patients with NSCLC MET exon 14 skipping alterations.
The second cohort of this confirmatory trial was fully enrolled in H1 2023 and included patients who received prior treatments. The trial comes after the June 2021 approval of savolitinib as a monotherapy in this indication by China's National Medical Products Administration (NMPA), driven by the positive results from a Phase II trial.
Over a third of the world's lung cancer patients are in China, and among those with NSCLC globally, about 2-3% have tumours with MET exon 14 skipping alterations. Savolitinib was launched and marketed under the brand name ORPATHYS® by our partner, AstraZeneca, for this patient population and was the first selective MET inhibitor approved in China.
The company also had a second presentation titled “Computational Pathology-Based Assessment of cMET IHC Expression for Patient Selection in the Treatment of MET Overexpressing NSCLC”, authored by Simon Christ from AstraZeneca.
The study is about a Quantitative Continuous Scoring (QCS) algorithm being developed as an automated methodology to identify patients most likely to respond to treatment.
Hutchmed share price.
Hutchmed share price rallied 11.94% to trade at 267.25p, from Friday’s closing price of 238.75p.
YOUR CAPITAL IS AT RISK. 76% OF RETAIL CFD ACCOUNTS LOSE MONEY.