Hutchmed Share Price (HCM)

That should help hit forecasts for 2026, is it sufficient to trigger further milestone payments, think the last one was $20m for crossing $200m of sales back in 2024.

Takeda just released their FY numbers. Q4 revenues was on the softer side for Fruzaqla with 12,2bn JPY, bringing total revenues to 55,1bn JPY for their FY. (q1: 12,3bn / q2: 15bn / q3: 15,6bn / q4: 12,2bn).

But the outlook for FY26 is very positive with 72bn projected sales (+31%). That would translate into 460m USD.

Plus the deal sector is on the boil - helps with US China relations especially with Trump headed there this wk..

Jiangsu Hengrui Pharmaceutical, China’s largest drug company by market capitalisation, has signed a global collaboration and licensing agreement with US pharmaceutical giant Bristol Myers Squibb (BMS) worth up to US$15.2 billion.

Hengrui’s Hong Kong-traded shares climbed 5.3 per cent to HK$69.55 on Tuesday, while its Shenzhen stock rose 4.84 per cent to 56.11 yuan.

The deal adds credibility to China’s growing reputation for innovative drug development. Industry players, however, said the country still had some way to go before it gained a “genuine voice” in the global pharmaceutical industry.

https://www.scmp.com/business/china-business/article/3353263/chinas-hengrui-seals-us152-billion-deal-us-pharmaceutical-giant-bms?

The risk/reward seems favourable, increased weighting here over last few days sub 200p.

Basically, there is optionality with so many irons in the fire, I think its fairly likely we will hear of an ATTC partner shortly which may help if there is an up front payment, the next 12 - 18 months also has a lot of potential candidates coming forward with possible validation, company has minimal debt ad $1.4b cash on hand with a market cap of just £1.62b ?

No sales update accompanying todays AGM.

Their competitors on the HK market are routinely announcing quarterly revenue or profitability updates. They are falling behind - but I can understand HCM doesn’t have large sales /profits growth to announce and has less need to update the market.