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Hutchmed (China) Ltd - Hong Kong-based biopharmaceutical company - Reports positive top-line results for its gastric cancer treatment fruquintinib, when combined with paclitaxel. Explains the drug met one of its primary endpoints of statistically significant improvement in progression-free survival during a phase-three study in 703 patients, which the firm says is "clinically meaningful". Fruquintinib also shows a "statistically significant improvement" in secondary endpoints including objective response rate, disease control rate, and improved duration of response, Hutchmed adds. The study looked at patients with advanced gastric or gastroesophageal junction adenocarcinoma, a type of cancer.
"The combination of fruquintinib and paclitaxel demonstrated significant clinical benefits for these patients in controlling this disease. Our team will continue to analyze the data and discuss these findings with the [National Medical Products Administration] for possible [new drug application] filing," says Weiguo Su, chief executive officer & chief scientific officer.
Current stock price: 190.36 pence, up 16% on Monday afternoon in London
12-month change: down 59%
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