HUTCHMED
Hong Kong, China

HUTCHMED, a Hong Kong-based biopharmaceutical company, is on track to become a global leader in the discovery, development, and commercialisation of innovative, highly selective oral tyrosine kinase inhibitor therapies for oncology and immunological indications.

www.hutch-med.com

Investment Perspective

HUTCHMED has successfully raised c US$537m (or HK$4.17bn) through its Hong Kong IPO and global offering. The new funds enable management to execute their ambitious near- and medium-term growth plans. As well as progressing the second and third wave of innovative programmes through clinical trials, the proceeds will be used to bolster the China Oncology commercial organisation and further develop the equivalent global infrastructure. A sister note detailing the recent clinical data for the key late-stage assets is published alongside this note. We upgrade our valuation to US$8.84bn (US$52.12 per ADS), £6.8bn and HK$69.0bn (802p or HK$81.30 per share) to reflect the raise and recent clinical news.

Market information

SymbolExchanges
HCMNASDAQ/AIM London/SEHK

Research

Strategic collaboration for Tazverik in Greater China
Lighthouse | 10 Aug 2021
ASCO 2021: Moving towards combinations
Update | 06 Jul 2021
Hong Kong listing number 13 is a potent symbol
Update | 06 Jul 2021

Recent News

Initiation of SURTORI-01 China Phase III trial
21 Sep 2021
Start of Japan bridging study to support surufatinib registration for Advanced NETs
20 Sep 2021
BTD in China for HMPL-689 in r/r FL
13 Sep 2021
Initiation of SANOVO Phase III trial of Orpathys + Tagrisso in certain NSCLC patients
08 Sep 2021