Hutchmed (china) Share Discussion Threads

[nerdofsteel] 04/10/2019 09:27

It's unfortunate that we do have Blockbusters (Savolitinib) but they are partnered which was done to avoid the Company taking on debt. The Company has said they will never give away assets like that again. Luckily Eli Lilly didn't end up taking up global rights to Fruquintinib so that has forecast peak sales of $1.6bn.

[shaker44] 04/10/2019 09:06

Yes, it seems to be HCM approach, to develop a portfolio of specialist cancer treatments rather than go head to head with big pharma on mainstream. Shame as, for example, gold standard chemo for bowel cancer was developed over 30 years ago. A milk cow for big pharma but hard to believe nothing better for patients can be discovered.

[nerdofsteel] 04/10/2019 08:54

Forecast annual peak sales $149m China, $584m ROW on Haematological cancers, so small compared to Blockbusters but nice to have in the portfolio. Was originally targeted at Rheumatoid Arthritis but that indication has been dropped.

[shaker44] 04/10/2019 08:37

Surely a small specialized market though? Not a big mainstream earner.

[nerdofsteel] 04/10/2019 08:14

523 is potentially a First In Class small molecule selective Syk Inhibitor which has been in the portfolio for a number of years, and has suffered some setbacks. It is racing against a couple of rivals including one from Gilead so speed is of the essence here, being first to what is potentially a very large market for this indication.

[florenceorbis] 04/10/2019 07:49

4/10/2019 7:11am
RNS Non-Regulatory

TIDMHCM

Hutchison China Meditech Limited

04 October 2019

Press Release

Chi-Med Initiates an International Phase I/Ib Trial of HMPL-523 in Patients with Advanced Relapsed or Refractory Lymphoma

London: Friday, October 4, 2019: Hutchison China MediTech Limited ("Chi-Med") (AIM/Nasdaq: HCM) has initiated an international Phase I/Ib study of HMPL-523, its novel spleen tyrosine kinase ("Syk") inhibitor, in patients with relapsed or refractory lymphoma. The first patient was dosed on September 26, 2019 in the U.S.

The international clinical study, with sites in the U.S. and Europe, is a multi-center, open-label, two-stage study, including dose escalation and expansion, investigating the effects of HMPL-523 administered orally to patients with relapsed or refractory lymphoma. The primary outcome measures are safety and tolerability. Secondary outcomes include pharmacokinetic (PK) measurements and preliminary efficacy such as objective response rate (ORR). The lead investigator of the study is Dr. Nathan Fowler, Associate Professor, Department of Lymphoma/Myeloma, The University of Texas MD Anderson Cancer Center, Houston, TX. Additional details may be found at clinicaltrials.gov, using identifier NCT03779113.

This study complements the ongoing Phase Ib dose expansion program of HMPL-523 in Australia (clinicaltrials.gov identifier: NCT02503033) and China (clinicaltrials.gov identifiers: NCT02857998 and NCT03483948) addressing a broad range of hematological cancers. Preliminary results of the dose escalation stage in a Phase I study in China of HMPL-523 in patients with relapsed or refractory B-cell lymphomas were presented in 2018[1]. Outside of oncology, HMPL-523 is in Phase I study in patients with Immune Thrombocytopenia (ITP) in China (clinicaltrials.gov identifier: NCT03951623).

About HMPL-523

HMPL-523 is a novel, highly selective and potent small molecule inhibitor for oral administration targeting spleen tyrosine kinase, also known as Syk. Syk is a major component in B-cell receptor signaling and is an established therapeutic target in multiple subtypes of B-cell lymphomas. Because B cell malignancies are heterogeneous and patients commonly experience relapse despite current therapies, there is a recognized need for new therapeutics.

[peterm10] 03/10/2019 19:27

Nice steady climb on Nasdaq today.

[steeplejack] 03/10/2019 19:16

It's not unreasonable to expect a bit of bid premium to be factored into the share rating in due course.Afterall,the parent has shown such haste to divest and deconsolidate HCM,one wonders whether it would be adverse to accepting a handsome offer.

[nerdofsteel] 03/10/2019 16:37

good point re: Directors sportii, nothing for a long time

Let's hope the CKHH overhang has cleared and we get some alignment towards a proper valuation here

[thornyone] 03/10/2019 15:19

Perhaps, Steeplejack, 'predictably' was the wrong word. I meant that the drop in HCM's share price since Jan 2018 was caused by various negative factors, an inevitable consequence of which was the drop. In other words, with hindsight the drop was predictable! It is just as predictable, therefore, that with good news, this drop will be erased. I notice a small uptick today ...

[sportii] 03/10/2019 14:00

Has any director invested recently? A news of large purchases by the directors would certainly help to prevent further drop in share price
News of a major pharma showing interest in one or two drug candidates being developed by HCM will certainly change the direction of share price

[nerdofsteel] 03/10/2019 12:30

Trinity Delta have issued an updated note today

hxxps://www.trinitydelta.org/research-notes/esmo-2019-surufatinib-epnet-pfs-benefit-confirmed/

[dbadvn] 03/10/2019 11:54

Have to agree NoS. In addition all the negatives were well signalled and only one ( not sure which) of larger commercial significance. Much more positive news of large potential commercial significance which has just been ignored by the market.

The weighing machine will eventually overcome the sentiment driven environment when the revenues start to come in.

[nerdofsteel] 03/10/2019 11:02

"From January 2018 the news has been solidly negative"

I do not agree entirely with that. Yes, we have had disappointment with Savo PRCC and also Fruq in NSCLC but we also had the launch of Frquintinib in 3L CRC in China. The negatives did outweigh the positives but it wasn't all negative.

[nerdofsteel] 03/10/2019 10:47

Now CKHH have reduce their holding below 50% let's hope we can get back to a proper valuation. Edison value the shares at £6.99 per share based on a DCF model, cash and IP.

HCM’s recent share price underperformance provides an opportunity to revisit the investment case. We believe the long-term investment case is solid, with multiple near-term catalysts (regulatory filing and potential approval for surufatinib and savolitinib) as HCM successfully launches numerous assets to market (~2020/21 and beyond) in China and internationally. Its broad mid- to late-stage innovation platform (IP) will translate into diverse global revenue streams with a multitude of other compounds coming to the fore from HCM’s established and proven innovative R&D platform.

Existing partnering deals for savolitinib and fruquintinib support the investment case as milestones and royalties on sales continue to bolster the P&L. HCM has global strategic aspirations, and it is only a matter of when rather than if its aspirations are met, in our view. HCM continues to invest in
expanding its global innovation organisation; it now has >440 scientific personnel based in China and the US (Shanghai, Suzhou and New Jersey).

[nerdofsteel] 03/10/2019 08:03

We've had the fantastic SANET-ep trial results this week at ESMO and this will shortly be followed by a China NDA. The trial was so successful it was halted by the Independent Steering Group a year ahead of schedule, which the market failed to react to. Chi-Med's first wholly owned drug has forecast Peak Sales of $169m in PRC and $454m in ROW by the late 20's in NET alone.

The botched secondary listing could have been avoided, not only has it destroyed Shareholder value it has effectively de-valued the staff's share options, including the senior management Teams. It has also probably put off potential institutional Investors for the time being.

I have a large holding which I've been building for 10 years, and I feel sorry for the Company. They are executing their strategy and have been subject to events beyond their control. Many senior people in the Firm have had their personal wealth diminished by the parent Company.

I still believe the Company will be worth $20bn in the next 10 years if the pipeline delivers as expected.

[steeplejack] 03/10/2019 07:34

Indeed,an exciting test result would of course reverse the slide in the share price but I question whether the fall in the shares has been in anyway predictable.The erratic behaviour of the parent company is largely responsible for HCMs fall from grace.The decision to deconsolidate the subsidiary involved a pulled placing in Hong Kong.Without warning,the placing was hastily relocated to the Nasdaq to be executed by only one broker,Morgan Stanley,rather than the coterie of brokers (including Goldmans)originally planned to do the Hong Kong placing.The 24 dollar placing was badly handled and is primarily responsible for the price decline pre and post the issue.This is even more apparent in view of the recent successful placing professionally executed at $17.65.Benefit of hindsight is a erroneous commodity.If the fall in the share price was so very predictable,I feel sure that we would have seen a lot of shorting by those canny hedge funds.

[thornyone] 02/10/2019 20:09

The HCM share price has been behaving predictably. From January 2018 the news has been solidly negative and this is reflected in the price dropping from $40 to $17 in waves. However, more than a reversal of these numbers is possible as soon as a globally exciting test result is received. Everything else, such as publicity about pipelines and listings is just a distracting sideshow.

[sportii] 02/10/2019 17:37

Listing in Singapore! Sounds very good. Hope the board directors are able to read this board.

[steeplejack] 02/10/2019 16:06

Nice to see HCM bucking the trend :)

[steeplejack] 02/10/2019 09:55

Maybe they'd do better to list in Singapore.

[nerdofsteel] 02/10/2019 08:58

Nice coverage by Fierce Pharma from ESMO on Chi-Med

[nerdofsteel] 01/10/2019 08:40

China ADR de-listing - fake news according to Whitehouse official spokesman


companies-were-fake-news.html