Shares in Hutchmed (China) Ltd (AIM:HCM, NASDAQ:HCM, HKG:0013) rose 10% in early trading on Tuesday after the biopharma company announced it had completed patient enrolment for a key phase II trial of its cancer drug savolitinib in China.
The study is testing the treatment in people with gastric or gastroesophageal junction cancer whose tumours show MET gene amplification – a relatively rare but aggressive subtype.
A total of 64 patients have been recruited across multiple sites.
The trial is designed to assess how well savolitinib works, along with how safe and tolerable it is. Interim data presented at a recent cancer research conference showed an objective response rate of 45%, rising to 50% among patients with higher levels of MET gene amplification.
The four-month duration of the response rate was just under 86%.
The drug already holds breakthrough therapy status in China. If final results are positive, HUTCHMED said it could seek approval to market the treatment by late 2025.
The stock was up 21p at 233p.