On Monday, shares of HUTCHMED (HCM.US) climbed nearly 4% to $12.67, driven by encouraging clinical trial developments announced by the company.

The rally followed a company statement released on August 17, detailing positive top-line results from the SAFFRON Phase III study. The trial evaluated the combination of HUTCHMED's savolitinib (marketed as Orpathys) with osimertinib (Tagrisso) in patients with EGFR-mutated non-small cell lung cancer who had progressed on prior Tagrisso treatment and whose tumors exhibited high levels of MET overexpression or amplification.

The study demonstrated that the combination therapy provided statistically significant and clinically meaningful improvements in both progression-free survival (PFS) and overall survival (OS) compared to platinum-based doublet chemotherapy, marking a notable milestone for the drug regimen.