HUTCHMED has secured divestment proceeds to advance its innovative pipeline, including its newly disclosed proprietary next-generation antibody-targeted therapy conjugate (ATTC) platform, through monetising a 45% equity interest in a non-core JV (joint venture). This divestment sharpens the focus onto HUTCHMED’s core business
and will enable investment into the early-stage ATTC platform. Cash proceeds of c $608m provide additional financial flexibility as HUTCHMED executes on its goal of sustainable profitability from FY25 onwards. Funds will be directed towards progressing the Oncology/Immunology R&D pipeline – including ATTC assets – and supporting commercialisation of new and existing products in China. Ahead of deal close in Q125 our HUTCHMED valuation remains $5.94bn/£4.95bn/HK$46.31bn, equivalent to $34.07/ADS and 568p/HK$53.14 per share.
Trinity Delta: HUTCHMED
Jan 13, 2025Disclaimer & Declaration of Interest
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