HUTCHMED (China) Limited (NASDAQ:HCM) Q4 2023 Results Conference Call February 28, 2024 7:30 AM ET

Company Participants

Mark Lee - Senior Vice President of Corporate Management & Communications

Dr. Wei-Guo Su - CEO, Chief Scientific Officer

Johnny Cheng - CFO

Zhenping Wu - Executive Vice President of Pharmaceutical Science & Manufacturing

Michael Shi - Executive VP, Head of R&D and Chief Medical Officer

Conference Call Participants

Louise Alesandra Chen - Cantor Fitzgerald & Co

Alec Warren Stranahan - Bank of America

Paul Choi - Goldman Sachs

Michael Clive - Panmure Gordon

Operator

Good day, and thank you for standing by. Welcome to HUTCHMED 2023 Full Year Financial Results Conference Call. [Operator Instructions] Please be advised that today's conference is being recorded.

I would now like to pass the call over to your first speaker today, Mr. Mark Lee, Senior Vice President, Corporate Management and Communications of HUTCHMED.

Mark Lee

Thank you, Desmond. Welcome, everybody. Good morning, good afternoon and good evening. Just a brief message as usual. The performance results and the operations of HUTCHMED are historic in nature and past performance is no guarantee of the future. We've got forward-looking statements, which mean within the meaning of the safe harbor provisions of the U.S. SEC. This presentation is for investors only. And information on pharmaceuticals are not intended as advertising or medical advice.

This presentation contains statistical and other third-party data which we have not independently verified. So we can't guarantee on their accuracy. Nothing in this presentation constitutes an offer for sale of shares. No representation warranty is implied on this information. And anything in this presentation should be read in conjunction with HUTCHMED's results for the year ended December 31, 2023.

So with that, I'd like to hand over to Dr. Wei-Guo Su, our CEO and Chief Scientific Officer. Wei-Guo?

Dr. Wei-Guo Su

Okay. Thank you very much, Mark. Good evening. Good morning. Welcome again to HUTCHMED 2023 annual results presentation. 2023 was an exceptional year for HUTCHMED. We focus on fruquintinib global registration and launch with our partner, Takeda, while continuing to execute on our strategy towards profitability. This is a year where we made significant progress. The pipeline progresses significantly, not more significant than the U.S. approval of fruquintinib for advanced CRC, a historic milestone for HUTCHMED. Financially, we ended 2023 with a very strong cash position, thanks to the Takeda partnership and also strong growth from our China commercial operations.