HUTCHMED (China) (HCM) Q4 2022 Earnings Call Transcript

For the period ending December 31, 2022

February 28, 2023 8:00 a.m. ET

Prepared Remarks

Questions and Answers

Call Participants

Prepared Remarks:

Operator

Good day and thank you for standing by. Welcome to HUTCHMED 2022 Full Year Results Conference Call. At this time, all participants are in listen-only mode. After the speakers' presentation there'll be question-and-answer session. [Operator Instructions] Please be advised that today's conference is being recorded.

I now like to hand the conference over to Mr. Mark Lee, SVP Corporate Finance and Development of HUTCHMED. Please go ahead, sir.

Mark Lee

Thank you, Amber. Welcome, everyone. Good morning. Good afternoon. Good evening. Welcome to the HUTCHMED 2022 full year results and business update presentation. I've just set this time I'll mentioned that the performance and the results of our operations that we'll be talking about today are historic in nature and past performance is not guaranteed. The usage presentation does contain forward-looking statements in relation to the safe harbor provisions and anything that is and discussed should be heard and read in conjunction with HUTCHMED's results that we have published on RNS on our SEC filings and in our announcements in Hong Kong stock exchange.

Today we have a broad management team for you to present and answer questions including Weiguo Su, our Chief Executive Officer and Chief Scientific Officer; Johnny Cheng, our Chief Financial Officer; Karen Atkin, Chief Operating Officer; Hong Chen, our Chief Commercial Officer; Mike Shi, our Chief Medical Officer and head of R&D; Zhenping Wu, our Executive Vice President of Pharmaceutical Sciences and Manufacturing, and Charles Nixon, our General Counsel.

So with that, I'll hand over to Weiguo.

Weiguo Su

Okay, thank you very much, Mark. Good morning. Good afternoon. Good evening, everyone. Welcome again to our HUTCHMED 2022 full year results conference call. A few hours ago, we announced all at 2022 full year results. Mark, can you show the next slide please? Thank you.

And during 2022 HUTCHMED made significant strategic changes to allow us to better deal with adverse external conditions and to focus on getting to profitability sooner. On the pipeline, we made significant progress, including the positive Phase 2 global registration study FRESCO-2, fruquintinib, and a based on a strong data NDA submissions are planned for 2023 starting from the U.S., followed by EU and Japan.

In parallel, our second wave of products, including Sovleplenib, Amdizalisib and Tazemetostat in registration trials in China, also made a significant progress. China NDA submissions are planned for 2023 and 2024. Finally, on the China commercial, despite all the challenges associated with COVID, and unfavorable exchange rate, our China commercial team delivered strong numbers for our three approved products.