- Hutchmed (China) Limited (NASDAQ:HCM) reported FY21 sales of $356.1 million, up 56% Y/Y, driven by commercial progress on three in-house developed oncology drugs Elunate, Sulanda, and Orpathys.
- FY21 Oncology/Immunology consolidated revenues reached $119.6 million, up 296%, in line with the guidance of $110-130 million. Elunate revenues increased 168% to $53.5 million.
- Sulanda revenues reached $11.6 million since the mid-January 2021 launch, initially approved to treat patients with advanced extra-pancreatic (non-pancreatic) NET and subsequently approved to treat patients with pancreatic NET in June 2021.
- Orpathys revenue of $36.3 million since the mid-July 2021 launch comprised a $25.0 million first sale milestone payment and $11.3 million in manufacturing revenues and royalties.
- The Company posted an EPS loss of $(0.25) compared to the $(0.18) a year ago.
- Guidance: For FY22, Hutchmed expects Oncology/Immunology consolidated revenues of $160 million - 190 million.
- CEO Transition: The Company's CEO, Christian Hogg, has announced retirement after almost 22 years with the Company, including 15 years as Executive Director and CEO.
- Weiguo Su, current Chief Scientific Officer, is appointed as the new CEO.
- Price Action: HCM shares are down 4.85% at $24.92 during the market session on the last check Thursday.
