Shares of biopharmaceutical company HUTCHMED (NASDAQ:HCM) are soaring in the pre-market session today after it announced positive results from a study evaluating the combination of fruquintinib and paclitaxel for the treatment of advanced gastric or gastroesophageal junction (GEJ) adenocarcinoma.
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The combination demonstrated a statistically significant improvement in progression-free survival but did not show statistically significant overall survival levels.
The company expects to share findings with the China National Medical Products Administration (NMPA) for an NDA filing.
Notably, gastric remains the fourth leading cause leading to cancer deaths globally.
Shares of the company are up nearly 15% today already.
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