A final-phase trial of Hutchison China Meditech’s (HCM) cancer drug fruquintinib has failed to demonstrate “a statistically significant increase in overall survival” amongst advanced non-small-cell lung cancer patients in China.
IC TIP:
Buy
at
4,880p
This marked one of four important drug trials as Chi-Med builds on fruquintinib’s commercial launch (the drug has already been approved to treat advanced colorectal cancer). It’s a big disappointment – evident from the share price drop on the day the news was announced – but chairman Simon To has said he still has long-term faith in the drug.