Hutchmed (china) Share Discussion Threads

[dbadvn] 03/4/2017 15:57

HCM today issued an SEC filing that authorises them to place more ADS .
Given that they spent a lot of time explaining that they have enough cash for two years, its difficult to understand the timing of this. An RNS for UK shareholders would also have been nice.

Can't help feeling that their IR department is out of its depth in the US.

[nerdofsteel] 01/4/2017 08:56

R & D briefings from London and NYC are now available via the Company website

Towards the end our CEO gives a great overview of the manufacturing and commercialisation and compliance functions that are built and ready to start producing and marketing Fruquintinib once the CFDA give approval

[haydock] 31/3/2017 09:05

Many thanks Nerd, keep up the top class service here,
you are doing an outstanding job.
Quiet bb's are often the best, I have been amazed that this has not attracted moere attention on here.
My final decision after years to join for once was a triumph of timing.... so far !

Cheers Hay.

[nerdofsteel] 31/3/2017 08:20

yes, clearly the NASDAQ ADR's are in charge of valuing the Business now, higher volumes too. But there's no chance the prices can get too far out of step, they may on a daily basis but they do adjust over a period of a few days.

I really enjoyed the R&D session yesterday and was interested in the info we were given about the manufacturing, marketing and regulatory back office functions. Everything is in place for us to manufacture and market our first drug Fruquintinib.

[steeplejack] 31/3/2017 00:14

London out of sync again.....Closed at £33 equivalent in New York

[nerdofsteel] 24/3/2017 17:59

Everything in place and our fantastically talented CSO Dr Su now on the Board, excellent..........

We have a fantastic Board with a great mix of commercial and scientific talent

The Company is in great shape for the big push forward to become a large Biopharma over the next few years

Brilliant long term investment opportunity

[nerdofsteel] 23/3/2017 15:08

All these to come soon (well, during FY17) and many are very material

Target to publish data on 4 drug candidates in 5 Phase II-III studies:
 Savolitinib:
1. Phase II median overall survival data in PRCC patients;
2. Phase IIb data in second-line NSCLC combinations with Tagrisso® & Iressa®;
3. Phase II dose finding data in ccRCC combination with durvalumab (PD-L1).

Fruquintinib:
4. Phase III FRESCO study full data set publication in CRC patients.

Sulfatinib:
5. Preliminary Phase II proof-of-concept data in medullary and differentiated thyroid cancer patients.

HMPL-523 (Syk):
6. Preliminary Phase Ib proof-of-concept data in hematological cancer patients.

Target to achieve multiple late-stage/global clinical & regulatory milestones by end of 2017:
Savolitinib:
1. Initiate global Phase III study in PRCC patients;
2. Initiate global Phase III study in second-line NSCLC in combination with Tagrisso®;

Fruquintinib:
3. Submit New Drug Application (“NDA”) in China in third-line CRC;
4. Initiate China Phase III study in second-line gastric cancer patients;
5. Complete enrollment of Phase III FALUCA study in third-line NSCLC;
6. Initiate U.S. Phase I bridging study in Caucasian patients.

Epitinib
7. Initiate China Phase III study in first-line EGFR-mutant NSCLC patients with brain metastasis;
8. Initiate China Phase II study in glioblastoma (primary brain cancer).

Sulfatinib:
9. Initiate U.S. Phase II study in NET patients.

HMPL-523: 10.
Initiate Australian Phase Ib/II expansion study in hematological cancer patients.

HMPL-689 (PI3Kδ):
11. Initiate Phase I studies in China in hematological cancer patients.

HMPL-453 (FGFR-1/2/3):
12. Initiate Phase I studies in Australia/China in solid tumor patients.

[steeplejack] 22/3/2017 09:35

New York closes at £31 equivalent,London decides to push the price down on limited volume,offering stock at a £29-75,4% lower.Time will tell who wins the day.

[nerdofsteel] 20/3/2017 09:42

Yes, co-ordinate buying by the Board including the new Non Execs - they know what the company will be worth in a few years time for sure.........

I look forward to meeting the new Non Execs at the AGM on the 27th April

[haydock] 20/3/2017 09:35

BOD. buying en masse, tasty. Just what we need on a Monday am.

[steeplejack] 17/3/2017 16:50

Yes,market makers will deal in either quote.The other day,when they were bidding well below the closing price in New York,it's more than likely that they had gone short on the Nasdaq with the intention of trying to square their position by potentially buying back cheap stock in London.They will arbitrage the position quite happily especially when they benefit from a wide spread.You have to check both markets and bear in mind that brokers will be trading away on both sides of the Atlantic.

[nerdofsteel] 17/3/2017 13:52

I agree

Also I notice that when you buy ADR's your Broker may end up sourcing AIM shares and when you buy AIM shares the Broker may end up sourcing ADR's in the background.

In other words there is a way in which both exchanges can interchange or internally trade the two types of securities. There is some information on HCM's website about it.

[steeplejack] 17/3/2017 07:43

The arrival of sustained US interest will dictate the price here.Recently,the value of dealings on the NASDAQ market has been near double the value of trades on the London market.The London market likes to use a wide spread to manoeuvre during the hours when it is the only exchange making a quote but has to fall into line when New York opens.Back in the 1980s,London dealings in Glaxo became subordinated to those in ADRs in New York and,writ small,this will happen here.Presentations in the US is all part and parcel of wooing US investors and any future financing is likely to be concentrated there.Currency considerations are also paramount.The ADS's offer a dollar exposure,preferable to purchasing a sterling denominated AIM listed stock .I don't know whether a UK domiciled broker like Panmure is going to be that influential going forward.The US will determine whether the stock is to be considered cheap or dear and the weight of money looking to buy will be key.

[nerdofsteel] 16/3/2017 16:51

I think the current valuation is right, I never understood the lack of enthusiasm by U.S. Institutional Investors until but big volumes since the FY16 results

The Company has done a brilliant job in quantifying the types of numbers we will see from drug candidates

This is another Genmab IMO

$10bn mcap by 2020, $15bn by 2025 IMO

And we have some very material developments that could occur shortly as our CEO said on the video last week - something is brewing

[steeplejack] 16/3/2017 16:35

I presume the market saw a bit of selling late morning,early afternoon.Topped up prior to US opening without difficulty.

[nerdofsteel] 16/3/2017 16:21

May the shortage continue.............

What have you seen later in the day steeple, if I may ask?

[steeplejack] 16/3/2017 09:54

They're short of stock.On quote and deal,they'll bid for size but only offer 100 shares outright.

[steeplejack] 16/3/2017 08:10

They're not taking any chances,have immediately closed any arbitrage potential.

[nfs] 16/3/2017 08:01

Nice start....

[nerdofsteel] 16/3/2017 06:18

Amazing how some analysts reading the F20 can translate into this

The big difference now is the Company is talking about future sales numbers and quantifying some of the value in the IP. it's always been there in the Edison reports but now we have the Company themselves giving forward guidance.

This is the advantage of the NASDAQ listing. American investors expect forward guidance. The fact we beat guidance for FY16 helped

[steeplejack] 15/3/2017 23:39

Yes,£33-60 bid equivalent at NASDAQ CLOSE .

Makes you wonder why the light that burnt so pale can suddenly burn so brightly.

[reptile3] 15/3/2017 19:50

At 7.45pm UK time the price was $20.53 up $4.43 i.e. 28.3%.

x2 = $41.06 ...... £ equivalent = £33.82

And still rising!!!

[steeplejack] 15/3/2017 17:32

Currently $18 bid US is equivalent £29-50 UK.

[nerdofsteel] 14/3/2017 11:46

indeed, I agree, what I meant was they could buy back the rights to the candidate in question so they own the asset in ROW. They would of course need to partner to market it.