HUTCHMED shares are trading higher after the company's 's Savolitinib was granted Breakthrough Therapy Designation in China.
Portfolio Pulse from Benzinga Newsdesk
HUTCHMED's Savolitinib has been granted Breakthrough Therapy Designation in China, leading to a rise in the company's shares.
August 29, 2023 | 3:02 pm
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HUTCHMED's stock is trading higher after its drug Savolitinib received Breakthrough Therapy Designation in China.
The Breakthrough Therapy Designation for Savolitinib in China is a significant positive development for HUTCHMED. This could potentially expedite the drug's development and review process, leading to earlier market entry and revenue generation. As a result, the company's stock is likely to trade higher in the short term.
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