HK Stock Market Move | HUTCHMED (00013) rose over 6% intraday; Citi indicated that a turning point has been seen in business operations, and the value of the ATTC platform will emerge.

HUTCHMED (00013) rose over 6% intraday. As of press time, it was up 3.92% at HK$22.28, with a turnover of HK$128 million. On the news front, HUTCHMED announced at the end of September that AstraZeneca has submitted a New Drug Application to the U.S. FDA for the combination therapy of Orpathys and Tagrisso, for the treatment of patients with locally advanced or metastatic non-small cell lung cancer with MET overexpression or amplification who have experienced disease progression during or after treatment with an EGFR TKI. The SAFFRON global Phase III study showed that the combination therapy demonstrated improvements in both progression-free survival and overall survival. Citi released a research report stating that HUTCHMED's business operations have reached an inflection point driven by innovation, clinical progress, and sales recovery. The bank believes that as data is disclosed or transactions continue to be completed, the value of the ATTC platform will become more concrete. It also expects positive readout data from SAFFRON and SANOVO.