Report
Franc Gregori ...
  • Lala Gregorek
  • Mick Cooper

Chi-Med: WCLC 2019: detailed FALUCA data disclosed

Top-line data from the pivotal China Phase III FALUCA fruquintinib monotherapy trial in 3L NSCLC (third-line non-small cell lung cancer), released November 2018, indicated the study missed its overall survival (OS) endpoint but met all secondary endpoints. Full data presented at the 2019 World Congress on Lung Cancer revealed median OS of 8.94 months for fruquintinib vs 10.38 months for placebo (p=0.0841). A post hoc sensitivity analysis suggested use of subsequent anti-tumour therapies following disease progression was likely to have contributed to this result. FALUCA data coupled to the rapidly evolving treatment landscape in NSCLC supports Chi-Med’s decision to focus on development of fruquintinib in combination with PD-(L)1 checkpoint inhibitors; China Phase I combination studies have begun. However, the major near-term catalyst for fruquintinib remains commercial: potential NRDL inclusion in Q419 would provide strong impetus to China revenues.
Underlying
Hutchison China MediTech Limited

Hutchison China MediTech is engaged in researching, developing, manufacturing and selling pharmaceuticals and healthcare products. Co. has research and development facilities and manufacturing plants in Shanghai and Guangzhou in the People's Republic of China and sells its products mainly in the PRC and Hong Kong. Co. operates two operating segments. The Innovation Platform focuses on discovering and developing therapeutics in oncology and autoimmune diseases, and the provision of research and development services. The Commercial Platform involves the manufacture, marketing and distribution of prescription and over the counter pharmaceuticals as well as consumer health products.

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Trinity Delta
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Analysts
Franc Gregori

Lala Gregorek

Mick Cooper

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