Lyon: Maintains HUTCHMED (00013) "Outperform" rating as the ATTC platform gains recognition from multinational pharmaceutical companies.
Lyon believes that the licensing of HMPL-A830's overseas rights to GSK by Huirui Pharmaceutical is a strong recognition of the company's ATTC platform by multinational pharmaceutical companies.
Lyon published a research report stating that it maintains HUTCHMED (00013) with an "outperform" rating and the target price remains at HKD 29.5. The company granted GSK the overseas rights to its KRAS-EGFR ATTC candidate drug HMPL-A830, which could yield an upfront payment of USD 110 million and up to USD 1.3 billion in milestone payments. Lyon believes this deal reflects strong recognition of the company's ATTC platform by multinational pharmaceutical companies. The firm also stated that further concept validation data from the ATTC combination and additional collaborations are key catalysts to watch.
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