Hutchison China MediTech Limited’s (LON:HCM) first cancer drug, fruquintinib, is on track to be on sale by the year-end, its chairman said today.
The AIM-listed drug developer has applied for approval in China in advanced colorectal cancer.
READ: Hutchison China Meditech starts US proof-of-concept trial for key cancer drug
“We are optimistic that we will see fruquintinib approved and launched by year-end,” Simon To said alongside the interim results.
First data from a phase III study of fruquintinib as a treatment for third-line lung cancer, FALUCA, should also be available at the end of the year.
Chi-Med has a number of drugs going through the trial process both on its own and in partnership with global pharmaceutical majors.
It is partnering with Eli Lilly on fruquintinib, while a collaboration with AstraZeneca is looking at kidney and lung cancer indications with studies planned for gastric cancers,
Revenue in the half year to June fell to US$102.2mln (US$126.6mln), while there was a net loss of US$32.7mln. Cash at the half year was US$416.9mln.
Chi-Med added it has increased its estimate for R&D spending on its Innovation platform by US$20mln to US$130-140mln.
That has resulted in a US$20mln increase in the forecast full-year net loss to between US$39-72mln.