In today’s briefing:
- Hutchmed China Ltd (13.HK/HCM.US) 24H1 – Fruquintinib’s US Sales Beat; Break-Even Is Within Reach
- ONVO: Test Results Could Open Door to Acquisition
- Seikagaku Corp (4548 JP): Q1 FY03/25 flash update
Hutchmed China Ltd (13.HK/HCM.US) 24H1 – Fruquintinib’s US Sales Beat; Break-Even Is Within Reach
- Fruquintinib US sales continue to be the main performance driver. License-out expectations for surufatinib is low.Highlight for savolitinib is the combination with osimertinib for NSCLC, which would bring high growth.
- Future playbook of HUTCHMED is “continued sharp reduction of expenses + milestones from Takeda based on fruquintinib overseas sales = rapid narrowng of losses”.2024 overseas market sales may exceed US$300m.
- There is not much problem with HUTCHMED completing its performance guidance for the year 2024. Reasonable market value range for HUTCHMED is US$1.75-3.75 billion. Breakeven is expected in 2025.
ONVO: Test Results Could Open Door to Acquisition
- Organovo is a biotech company that has 3D technology enabling the company to produce various human tissues, allowing the company to target diseases and accelerate the drug development process.
- The company released its 1Q financial report that showed improved good cash balances and bested estimates.
- The company also recently reiterated positive Phase 2 results for one of its primary treatments-FXR314.
Seikagaku Corp (4548 JP): Q1 FY03/25 flash update
- The company reported YoY increases in sales (3.7%), operating profit (26.3%), recurring profit (11.6%), and net income (0.7%).
- Pharmaceuticals Business sales fell 1.6% YoY to JPY7.1bn, with notable declines in Domestic and Overseas Pharmaceuticals segments.
- R&D expenses were JPY1.6bn (20.4% of sales, excluding royalty income); significant pipeline developments include SI-6603 and SI-449.
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