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Hutchmed Signs Cancer Treatment Licensing Agreement With GSK; Shares Rise Pre-Bell

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Hutchmed (HCM) said Thursday its unit licensed rights to GSK (GSK) to develop and commercialize experimental cancer treatment HMPL-A830 outside Greater China.

The agreement includes a $110 million upfront fee alongside prospective milestone payments of up to roughly $1.19 billion, the company said.

The therapy targets KRAS-altered solid tumors in colorectal, pancreatic and lung cancers, and the company will execute the phase 1 clinical trial starting in H2 before GSK assumes future development and sales.

Shares of Hutchmed rose more than 16% in Thursday's premarket activity.

Price: $14.01, Change: $+1.97, Percent Change: +16.36%

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