Hutchmed's Oncology Revenue Hits $271.5 Million, Rising 65% On Fruzaqla Strength

On Wednesday, Hutchmed (China) Limited (NASDAQ: ​HCM) reported 2024 earnings of 22 cents per ADS or 4 cents per share, down 59 cents or 12 cents a year ago. Sales fell 25% year over year to $630.20 million.

Fruzaqla’s revenue was $110.8 million, and Elunate’s sales reached $86.3 million.

Oncology product consolidated revenue increased 65% to $271.5 million, driven by Fruzaqla and exceeding 30% to 50% growth guidance.

Guidance: Hutchmed projects 2025 oncology/immunology consolidated revenue of $350 million–$450 million.

On Tuesday, Hutchmed (China) and Innovent Biologics, Inc. announced topline results from FRUSICA-2 Phase 2/3 trial of fruquintinib in combination with sintilimab as second-line treatment for locally advanced or metastatic renal (kidney) cell carcinoma in China.

The study met its primary endpoint of progression-free survival.

Also Read: GDS Holdings Stock Slumps After Q4 Revenue Miss; CEO Highlights AI Growth Potential

The combination of fruquintinib and sintilimab received conditional approval from the China National Medical Products Administration for advanced endometrial cancer with Mismatch Repair proficient (pMMR) tumors that have failed prior systemic therapy and are not candidates for curative surgery or radiation, based on data from the FRUSICA-1 study.

In addition to the primary endpoint progression-free survival, the combination also demonstrated improvements in secondary endpoints, including objective response rate and duration of response.

Fruquintinib is available as Elunate in China and as Fruzaqla outside of China.

In January, Hutchmed (China) entered into two agreements to divest its 45% equity interest in Shanghai Hutchison Pharmaceuticals Limited (SHPL) for approximately $608 million (RMB 4.478 billion) in cash to GP Health Service Capital Co., Ltd and Shanghai Pharmaceuticals Holding Co., Ltd.

These transactions would allow Hutchmed to focus on its core business of discovering, developing, and commercializing novel therapies for cancers and immunological diseases, including advancing its next-generation antibody-targeted therapy conjugate programs.

Price Action: HCM stock is up 8.7% at $16.26 at last check Wednesday.

Read Next:

• Pillsbury Maker General Mills Cautions About Economic Uncertainty After Q3 Revenue Dip

Photo: Shutterstock