ASCO GU: promising PRCC data for savo/durva combo
Update | 20 February 2019
Preliminary CALYPSO study presented at ASCO GU evidenced encouraging efficacy signals for the savolitinib and durvalumab combination in an all-comers papillary renal cell carcinoma (PRCC) population. CALYPSO is an exploratory single arm Phase I/II trial sponsored by Queen Mary University of London, which enrolled both treatment-naïve and previously treated PRCC patients. Hutchison China MediTech (Chi-Med) and partner AstraZeneca are currently reviewing their strategy for savolitinib development in kidney cancer; CALYPSO data will contribute to this, although more mature data is awaited. Chi-Med will present FY18 results and a pipeline update on March 11th. We value Chi-Med at £51.52/share or $33.49/ADS.
|Year-end: December 31||2016||2017||2018E||2019E|
|Adj. PBT (US$m)||(47.4)||(53.5)||(104.4)||(169.7)|
|Net Income (US$m)||14.6||(23.0)||(74.8)||(136.4)|
|Adj. EBITDA (US$m)||21.9||(17.2)||(70.9)||(133.0)|
20 February 2019
|Price (UK share) (US ADS)||3,950p|
|Shares in issue (shares)|
Hutchison China MediTech is a Hong Kong headquartered biopharma with an established Commercial Platform in China, and a diverse pipeline of first-in-class/best-in-class selective oral tyrosine kinase inhibitors (Innovation Platform). Its pipeline, discovered in-house, is in development for the China and global oncology markets.
+44 (0) 20 3637 5041
Mick Cooper PhD
+44 (0) 20 3637 5042
+44 (0) 20 3637 5043
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