HUTCHMED’s U.S.-listed shares climbed 14.2% to $13.95 in early trading after the company said its subsidiary licensed global rights to HMPL-A830 to a GSK unit in a deal valued at up to $1.295 billion.
The agreement includes an $110 million upfront payment to HUTCHMED’s subsidiary, with up to $1.185 billion in additional milestone payments tied to development, regulatory and commercial progress, plus tiered royalties on net sales. GSK gains worldwide rights outside Mainland China, Hong Kong, Macau and Taiwan, while HUTCHMED retains full rights within those territories.
HMPL-A830 is a first-in-class KRAS-EGFR antibody-targeted therapy conjugate developed on HUTCHMED’s ATTC platform, which combines monoclonal antibodies with small-molecule inhibitor payloads. The company plans to initiate a global Phase I program in the second half of 2026, targeting colorectal, pancreatic and lung cancers—tumor types with high KRAS mutation incidence.
Acting CEO Johnny Cheng called the pact "a significant step in maximizing HMPL-A830's potential and the first global licensing transaction from the ATTC platform."
The broader market showed modest gains, with the S&P 500 up 0.4%, the Dow Jones rising 0.6% and the NASDAQ advancing 0.7%.
