Why HUTCHMED (HCM) Shares Are Soaring Today - HUTCHMED (China) (NASDAQ:HCM)

HUTCHMED (China) Limited HCM announced initial results from FRUTIGA Phase 3 trial of fruquintinib combined with paclitaxel in 703 Chinese patients with advanced gastric or gastroesophageal junction (GEJ) adenocarcinoma.
The trial met one of the primary endpoints of statistically significant improvement in progression-free survival (PFS), which is clinically meaningful.
The other primary endpoint of overall survival (OS) was not statistically significant per the pre-specified statistical plan, although there was an improvement in median OS.
Related: HUTCHMED Cancer Med Cuts Death Risk By 34% In Metastatic Colorectal Cancer.
Fruquintinib also demonstrated a statistically significant improvement in secondary endpoints, including objective response rate (ORR), disease control rate (DCR), and improved duration of response (DoR).
The safety profile of fruquintinib in FRUTIGA was consistent with previously reported studies.
Full detailed results are subject to ongoing analysis and are expected to be disclosed at an upcoming scientific meeting. T
HUTCHMED retains all commercial rights to fruquintinib outside of China. In China, fruquintinib is marketed under the brand name Elunate. HUTCHMED is partnered with Eli Lilly And Co LLY.
Price Action: HCM shares are up 15.60% at $11.44 during the premarket session on the last check Monday.

Hutchmed-Lilly Partnered Gastric Cancer Drug Shows Mixed Results In Phase 3 Study