Hutchmed's Stock Rises After EMA Validates Surufatinib Application For Neuroendocrine Tumors

The European Medicines Agency (EMA) has validated and accepted Hutchmed (China) Limited's HCM marketing application seeking approval for surufatinib for pancreatic and extra-pancreatic (non-pancreatic) neuroendocrine tumors (NETs).
The EMA's validation confirms that the submission is sufficiently complete and ready to commence the formal review process.
Recently, the FDA accepted the surufatinib application for the above indication.
Surufatinib selectively inhibits the tyrosine kinase activity associated with vascular endothelial growth factor receptors and fibroblast growth factor receptor, inhibiting angiogenesis and colony-stimulating factor-1 receptor, which regulates tumor-associated macrophages promoting the body's immune response against tumor cells.
Price Action: HCM shares are up 5.3% at $40.10 during the premarket session on the last check Friday.
Related content: Benzinga's Full FDA Calendar.