HUTCHMED shares are trading higher after the company and Takeda announced the New Drug Application for fruquintinib for the treatment of previously treated metastatic colorectal cancer was granted priority review.
Portfolio Pulse from Benzinga Newsdesk
HUTCHMED and Takeda announced that their New Drug Application for fruquintinib, a treatment for previously treated metastatic colorectal cancer, has been granted priority review.
May 26, 2023 | 1:47 pm
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HUTCHMED shares are trading higher after the company's New Drug Application for fruquintinib was granted priority review.
The priority review for HUTCHMED's fruquintinib indicates that the drug has potential to provide significant improvements in the treatment of metastatic colorectal cancer. This positive development is likely to boost investor confidence in the company, leading to an increase in HCM's stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100