Full Year 2024 HUTCHMED (China) Ltd Earnings Call - Chinese
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Speaker Change: Now, let me ask Joe to your point John.
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O'neill: O'neill Sienna.
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Hello everyone, why don't we start today's meeting. Thank you all for attending the Shuanghuang Pharmaceutical 2024 Full Year Performance Change Meeting. To respect and accommodate today's speakers, all participants are currently muted. This meeting is for investor communication purposes only, and the information provided does not constitute medical advice. Before the meeting, please update your display name with your full name and organization.
Paul: Honestly answers when we really see it.
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Paul: They're doing well.
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Paul: Sure.
Paul: Central Gulf, whether they go out and kind of what Pls you shrink that you called out on the East camp.
Paul: On Sunday.
Speaker Change: If you encounter any problems during the process, please send a message in the chat box. The fan meeting will be recorded and will be published on the company's official website within a day. Before we start, let's insert a name statement. The company's performance and operating results mentioned in the fan performance meeting are of historical nature, and the performance on the official website does not guarantee the future performance of the group.
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Paul: Well, let you know.
Paul: So I'll talk.
Paul: I think Tom King N D C machines in doing that.
Paul: And what should I think about the kind of ours to sell T [noise] patrol.
Speaker Change: Now, I am very pleased to introduce the management team attending today. First, we have our CEO and CSO, Dr. Wei Guo Su, our CFO , Mr. Zefeng Zheng, our Head of R&D and CMO, Dr. Ming Shi, and our Head of Commercialization, Mr. Dezhi Yuan.
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Speaker Change: Alright, let's first invite Dr. Su to start. Mr. Su.
Paul: I'm a sell team is a high why our torrential again, George Liana, Yeah and Joe.
Alethia: Okay, thank you Shiming. Fellow colleagues and friends, good morning. Welcome to today's National Defense Medicine 2024 overnight launch event.
Paul: Savannah, and you'll still get done PD in June.
Paul: Cellphone torrential it beats all the you Angela.
Paul: Yeah, and George will address that.
Speaker Change: So everyone knows that just last night we released the full-year 2024 performance report of Hehuang Pharmaceutical.
Paul: Angela.
Paul: Sure Paul.
Paul: I'm a sushi Angelina.
Paul: So then I N jewelry, Charlotte Saturday back with the OCC Semgroup will shoot you.
Speaker Change: Then we would also like to take this opportunity to communicate with everyone.
Speaker Change: It could be yes.
O'neill: The year 2024 can be said to be a very important year for nuclear prevention medicine as well.
Paul: Sequential issue.
Paul: Yeah.
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Paul: And when we kept God she thought that they've got full continues as it always seems like name why you want to.
Joe: Leveraging the commercial success of this affluent and exotic overseas venture, we have achieved profitability. This is also a milestone achievement for us.
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Joe: So everyone knows that in 2023, we actually reported a profit, but
Speaker Change: One seven.
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Paul: That is because of a one-time upfront payment from a collaboration with Wutian. We believe that 2024 will indeed be a year where the company is in a sustainable profit situation. We also believe that Hehuang Pharmaceuticals will continue to be a profitable company in the future.
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Ashwin: Ashwin. This is not a descending contractual as well if you don't want to descend machines in la that's homegrown.
Ashwin: So what does this year Oh Peter's hunting, if you seen our syngenta towards that you Wanna seamless hunting pulpwood harvest was hot.
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Ashwin: Uh huh.
Paul: So in our pipeline, last year in China, we all saw that Savolitinib received full approval in China, and the trial certificate was also expanded to the first line.
Ashwin: So yeah, that's actually pendulum.
Ashwin: Yeah, Oh cool slipping equal to one until you can manage hunting.
Ashwin: Hum.
Pete: Pete It's a N.
Ashwin: Additional pizza.
Ashwin: Oh yeah.
Ashwin: And yes, we'll seek one of the questions hopefully you can do it.
Paul: Small cell lung cancer with exon 14 skipping mutation
Ashwin: The team's time.
Paul: Fukokini has also been approved in China for this new indication of endometrial cancer.
Ashwin: Since you only yeah I can touch on.
Ashwin: Gender and go through all of them and I'll shy boy does it go.
Paul: Moreover, there are several new trial approvals for product NDAs awaiting approval. I believe everyone will see them soon. In addition to first-line use, Sevokini...
Ashwin: Challenging times. So we also you've got AT&T seat of being high.
Ashwin: Now, let's dig into just like Oh.
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Paul: The trial evidence of the fourteenth mutation change, we also released the SARCH study before the end of the year, which is the trial evidence of the second-line combination of Osimertinib in EGF-expressive Mycogen. An NDA submission has been made, and it is expected to be approved this year.
Ashwin: Hopefully, we won't quit watching a pretty young cause llanos.
Ashwin: Now, let's say at all that you got.
Ashwin: Oh sure Joe sure today's time Tonight.
Ashwin: Well Julien publishing guns guns in Ohio.
Paul: So, Salvatini's research overseas globally actually consists of two studies. The Savannah study is a single-arm study, and there is also the Saffron global controlled study. This study will support a global application in the future.
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Kimberly: You can go on for Kimberly.
Kimberly: So you know that you can kind of woman she shop, Joe Oney honestly I'm not Uh huh, Yeah Chi owning O and Asia, where we are this year.
Paul: As for these studies, there is the Savannah study, which will release data at the EOCC next week. Everyone can also pay attention to it.
Kimberly: They can be a sequence here.
Kimberly: I think that as you all know Oh shoot shot you bought a no.
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Kimberly: But I think you can get Julio.
Paul: Besides the type II endometrial cancer of the uterus we just mentioned, yesterday we also announced
Kimberly: Well, you'll have seen woman the CFO Jonny quick ball Johnny.
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Speaker Change: After completing this experiment and obtaining a positive result, we will also submit the NDA as soon as possible.
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Ashwin: In addition to the expansion of some new indications for these already approved products, new products, including his late-stage follicular lymphoma NDA, are currently still under review.
Kimberly: King.
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Ashwin: It also includes Sorefenib, which is our first immunotherapy product. The first trial certificate for ITP is also under application at MDA. So, 2025 should be a year with many new developments in our pipeline.
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Ashwin: Earlier, we briefly communicated with everyone that our next wave of innovative products is mainly an ATTC platform. So this is also a...
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Ashwin: More traditional ADCs have
Ashwin: Another major difference is that our payload is a targeted drug, not chemotherapy, not traditional chemotherapy. Therefore, its side effects will be completely different from chemotherapy. The biggest one is...
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Ashwin: The advantage of this type of product is its side effects. Its toxicity does not overlap much with traditional chemotherapy, so it can be combined with some standard first-line or frontline treatments. The hope is to benefit more patients.
Speaker Change: George.
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John Mckesson: I'm sorry, John Mckesson's also that just went haywire.
Kimberly: So today we would like to discuss the performance for 2024, some major milestones for 2025, especially the progress of our pipeline, and our next steps for more innovative products. First, I would like to invite our CFO Johnny to report to everyone. Johnny
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John Mckesson: However, we saw what AZ the thoughts on that yes, certainly is on our Seo game again Q1 figure.
Kimberly: Thank you, President Su. Let's see our cash reserves at the end of 2024 exceed 8.31 dollars.
John Mckesson: I guess, a woman's end the year with a couch that no woman, so, adding oleanna woman juju weight.
Kimberly: Compared to 2023, it has decreased by approximately 50 million dollars. A portion of this cash is used for our long-term accumulation plan to attract and retain talent. Another portion of the cash is used for the operating funds required for our commercial cooperation with Takeda. Let's move on to the next page.
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John Mckesson: And yet necessarily Q4, tangential EMEA the year well.
Speaker Change: In terms of financial performance, we achieved a combined revenue of 630 million USD, with a net profit of 37 million USD.
John Mckesson: So the face ensemble solar.
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Speaker Change: Our total streaming business revenue reached last year's financial benchmark, achieving over $360 million in revenue.
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Speaker Change: The company's overall profitability is mainly contributed by strong commercial performance, recognition of deferred revenue from previous years, strict control over sales and administrative expenses, and the reduction of the scale of overseas R&D teams and project operations. As you can see on our right-hand side, our total revenue from streaming business in 2025 is only expected to be between 350 million to 450 million USD.
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Speaker Change: Compared to last year, this time our guidance takes into account the non-recurring service and production income from Takeda in 2024. These revenues are due to Takeda's product launches and coverage in multiple countries last year, as well as their commercialization. Next, I would like to invite our Head of Commercialization, Mr. Yuan, to share the progress on the commercial front.
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Speaker Change: Thank you, Jiang Ning. Let's take a look at the overall sales situation of HUTCHMED for 2024. We have exceeded $500 million in revenue, with the main contributor, as Jiang Ning and President Su mentioned earlier, being the rapidly growing overseas business with Takeda, especially in the United States. At the same time, we also see that domestically, although it is a very...
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John Mckesson: In a challenging environment, however, Ayut and Sutida have still successfully achieved positive growth in the market. At the same time, we are
John Mckesson: Theresa's collaboration with AZ is also quite stable in terms of business, and this is where the challenge of our entire operation lies. We will continue in 2025.
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John Mckesson: Let's first take a look at our overseas business with Fokkin. As mentioned earlier, Fokkin's overseas business, apart from this year, 2024 is Takeda's first global year, and the business has been very successful. Besides the United States, we have also obtained approval in 12 countries within a year. At the same time, Fokkin has also been included in many major international guidelines. With the U.S. business this year, more HMO and Formula Listings, we believe there is still room for growth. Meanwhile, in many major countries in the EU, as healthcare negotiations progress and with growth in Japan, it will further drive our business growth in 2025.
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Speaker Change: Let's take another look at the performance of our Ayote in China. As everyone knows, China has now entered an aging society. At the same time, changes in lifestyle have made colorectal cancer a very, very major type of cancer in cities, especially in urban areas. Anti-angiogenic therapy is now also very widely used in the later stages of colorectal cancer. In 2024, our Ayote achieved
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Speaker Change: An income of 115 million USD, and at the same time, we maintain our leading position in third-line colorectal cancer. Achieving this result is actually not easy because the treatment of advanced colorectal cancer is becoming increasingly
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Speaker Change: Intense. We also know that many generics of Regorafenib have entered the market. At the same time, its C102 has also been included in the medical insurance. In December 2024, our company Ai You Te has obtained approval for second-line treatment of endometrial cancer. We are very, very proud to bring the combination of BHF-TK2 Afocixanib and Io immunotherapy into the field of gynecological tumors.
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Speaker Change: The next slide, as everyone knows, neuroendocrine honey tumors have been somewhat overlooked in the past within the tumor field because their incidence rate is relatively low, and they occur in various parts of the body rather than being concentrated. However, with the medical education advancements in recent years, especially with our significant efforts in this area, neuroendocrine honey tumors have now gained considerable attention among tumor specialists. This has led us to focus intensely on this field. Our company, Sutai Da, has leveraged our outstanding product differentiation advantages to become a leader in the TGI area. Additionally, we have increased our market share. According to AQVR's research, our market share in 2024 has reached 27%. However, as understanding of neuroendocrine honey tumors grows, competition is becoming more intense. We are also aware of new players entering the growth art category, including Ipsen's Lanreotide. We also see that many companies' nuclear medicine research pipelines are focusing on neuroendocrine honey tumors as a major battleground.
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Speaker Change: Next Chapter
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Speaker Change: Vorisa is a product we collaborated on with AZ, and we are very proud that in China, Vorisa was approved as the first Matter inhibitor. It can change the entire journey of life for patients with lung cancer in China, especially those with Matter amplification and Matter mutations. In 2024, this market will become very crowded because many new players are entering, including international companies and local companies. Particularly in 2024, there will also be domestic Matter inhibitors with first-line approval from medical insurance. We are currently in the second line, but because we leverage AZ's strong commercialization capabilities in the field of lung cancer, we have done very well in market penetration over the past year. Therefore, we have successfully resisted competitive pressures. With our full first-line approval and future medical insurance, especially in the long term, the combined use with Tagrisso in patients with Matter amplification will make the growth prospects of Savolitinib in China even brighter. Thank you, everyone. Now let's invite our head of R&D.
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Bonnie: Thank you Bonnie.
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Speaker Change: Okay, thank you, Mr. Yuan. Good morning, everyone. As Mr. Yuan just mentioned, in fact, Fugui has made significant contributions to our overseas expansion in Europe , America, Japan, and other countries' currencies. From the perspective of pipeline development, we have received new positive results adapting to such development for Fugui, specifically in the areas of Saimouse's dwarfism and our kidney dwarfism. I will emphasize this to everyone later. Additionally, our Savotini has shown significant progress in late-stage clinical injections. As Mr. Su just mentioned, we received positive results for SARCHI last year, and we obtained very positive results in the mid-term study ahead of schedule. We have also submitted an NDA in China. We just talked about Savannah Sargon, which are all JZ-led joint material developments, including our research on Savannah, Sargon, and Wei dwarfism, all conducted simultaneously. Another product mentioned earlier, Sofantini, is also undergoing phase two and three injection studies in the first line.
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Bonnie: PFS.
Bonnie: Yeah.
Akshay: Our second wave of products includes our Sprite TazStar Sunitinib, which is also in various stages of clinical development with good progress. Additionally, our third-generation product, our FGFR.
Bonnie: Mutations you ours young for.
Bobby: We're waiting Neal well actually delayed outcome, yes sure Bobby.
Bonnie: Sure.
Bonnie: <unk> D ICT and even more so that you see outside consulting quite yet Joe.
Bonnie: Should I say poorly germline them goes I would you please.
Akshay: Including our dual-target inhibitor for 306 IDH1 and 2, it is also in the registration process between us.
Bonnie: Okay.
Bonnie: Okay.
Bonnie: Joe.
Bonnie: Well actually you got actually you answered that don't wash a D E G.
Akshay: Next page
Glen Chick: And Glen Chick.
Bonnie: Okay.
Bonnie: <unk> please.
Akshay: There is actually a strong clinical need for our endometrial cancer. In China, its mortality rate is significantly rising, but the treatment options for second-line patients are very limited. Currently, it is only listed on the market.
Bonnie: <unk>.
Bonnie: Sure Yes.
Bonnie: <unk>.
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Bonnie: Boardroom.
Bonnie: In one type of ocular gene.
Bonnie: AZ with that Sanjay Youll Journal, obviously county in Georgia.
Bonnie: Matt.
Bonnie: Okay.
Bonnie: Operation. Thank you Julia.
Bonnie: Right.
Bonnie: Trc Shanghai.
Bonnie: Josh I'll the way I thought early on that.
A woman downside pressure, so don't yet John Melo massaging, yet youll arching yet.
Bonnie: People.
Bonnie: Yung Kim the Jaguar hardware side NDA.
Bonnie: Paul.
Bonnie: CD under it but not on a breakthrough designation used cash up team warm cheat sheet.
Bonnie: She'd IGN goal.
Bonnie: Right.
Bonnie: What do you have idle savana easy, but without the shop more.
Bonnie: Shot by Jokwe.
Bonnie: <unk> portal by yet Paul.
Bonnie: I'm sure.
Bonnie: Sure Matthew.
Bonnie: The troops to be out there that'd be great.
Heath: Thanks Heath repeat again.
Jeff: I'm here with Jeff.
Heath: <unk> natural.
Heath: All right.
Heath: RCM Journal Maddish as withheld.
Heath: Hello.
Heath: <unk> approval in wine Pachuca ours yet.
Heath: Yeah.
Heath: So your JV extra cheese on holiday.
Heath: Lima is like what are you sure.
Heath: Savannah Summit summit that's for sure.
Heath: Total <unk> by I think about <unk> <unk>.
Andre: That on a forward movement Andre <unk> from <unk>.
Heath: Yes.
Heath: Thank you Angela what a pleasure.
Heath: <unk>.
Heath: Beside it that way.
Heath: Yeah.
Heath: Thank you.
Heath: Got you.
Johan Tushar: Thank you for one that Sochi to begin Johan Tushar.
Heath: I should say.
Johan Tushar: Egfr <unk>.
Johan Tushar: Goodbye.
Johan Tushar: It's a whole bunch of <unk> sundial T guide.
Johan Tushar: Chip.
Johan Tushar: <unk>.
Johan Tushar: To watch our Shenzhen fab.
Johan Tushar: And that caused them to be really solid.
Johan Tushar: <unk>.
Johan Tushar: Sure.
Johan Tushar: Oh Wow.
Johan Tushar: Thank you.
Johan Tushar: Oh Wow.
Johan Tushar: Yes.
Johan Tushar: Sure John Tushar.
Johan Tushar: <unk> Goldman <unk> tissue a preplanned.
Bonnie: Next page
Bonnie: Savolitinib has already made progress in various clinical developments. Three studies led by AZ, along with four studies led by us and Huang, in the population with changes in MAP, lung cancer.
Johan Tushar: You <unk> think <unk> had a la Yaqui Jaguar.
Speaker Change: Yes quite alive CD that you that you will catch up with Bob.
Johan Tushar: George.
Johan Tushar: As a nation, so you might see that chip champions switching applebee.
Speaker Change: Sure Yes.
Speaker Change: So I'm not sure AZ without the Dundee.
Bonnie: We have clinical development for both PRCC kidney cancer and our gastric cancer. As Mr. Su mentioned earlier, our Sachi study, which was announced last year, showed very positive results. After being reported at MDA, it received Breakthrough Designation and Priority Review from the CD. We expect approval this year. Additionally, in international development, the project led by SavannaHZ will be reported next week at the ELCC conference with an oral presentation of its clinical data. Meanwhile, in patients with MAT14 mutations, our Phase 3B study also achieved positive results. Earlier this year, we received Full Approval for second-line treatment of patients with MAT14 mutations and expanded it to first-line treatment, which is also a significant achievement. Internationally, in the study of papillary renal cell carcinoma led by SavannaHZ, AZ has also achieved Full Approval. We are actively preparing several studies and are accelerating enrollment this year, with projects starting globally and in China for kidney cancer, gastric cancer, and lung cancer.
Speaker Change: Yes, Archie Yeah, I'd say.
Speaker Change: <unk>, obviously <unk> part of the strategic map tab, you'll be on either deemed guys.
Speaker Change: Tyler.
Speaker Change: Tire shop.
Speaker Change: Okay.
Speaker Change: Alright.
Johan Tushar: Thank you all right after that you Oswald Thank you Johan.
Speaker Change: Oh, sorry.
Speaker Change: Sidewalk.
Speaker Change: Helios.
Speaker Change: Undue charter.
Speaker Change: Overall response rate.
Speaker Change: It started out actually are the year one at.
Speaker Change: Durable response startup okay.
Sanjay Youll: Sure Sanjay sure John Shanghai yield <unk>.
Speaker Change: Sure sure.
Sanjay Youll: Narrow polysar, Joe sure Amy jump.
Sanjay Youll: <unk>.
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Sanjay Youll: Cheesemaking shortly.
Sanjay Youll: Yes.
Sanjay Youll: Sidewalk gynecology sure, yes, sure chunk hopeful youll juncture.
Speaker Change: Sean Jean <unk>, Matt Youll get either.
Sanjay Youll: So it will take us onshore.
Sanjay Youll: You bet films high unmet need so she won't kick us softball savana.
Sanjay Youll: I didn't get.
Speaker Change: Sorry, what he needs.
Sanjay Youll: Right.
Sanjay Youll: Hey, Daniel.
Sanjay Youll: Awesome.
Sanjay Youll: Tell me otherwise.
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Heath: All are actively acquiring
Johan Tushar: This is our SACHI study, which is conducted on patients who have failed BGFR, regardless of whether it is the first, second, or third generation TKI.
Sanjay Youll: <unk>.
Sanjay Youll: But I hear about deepwater.
Sanjay Youll: Ah signs yet the power Debottlenecking.
Sanjay Youll: Hello.
Sanjay Youll: Woman I assure a bunch on November <unk>.
Sanjay Youll: She had the Jaguar.
Johan Tushar: The Chinese experiment was conducted on patients with MAT amplification.
Sanjay Youll: Right.
Sanjay Youll: Hi, Joel.
Sanjay Youll: What you found foggy.
Sanjay Youll: Sure sure Jacob Xiaomi, Paula NDA, if it's <unk>.
Johan Tushar: The study of Sevokinib combined with OCT in comparison to chemotherapy actually went through our interim study. This was a preplanned analysis that achieved positive results in the pre-established analysis. It also received priority review and breakthrough therapy designation from the CD. Therefore, we expect this product to be available this year. Next page.
Ashley: Thank you Ashley.
Speaker Change: No way.
Speaker Change: I am Yakov <unk>, which he total agenda in functional <unk> Symphony <unk>.
Speaker Change: Sure deposits.
Speaker Change: Square <unk> Gill.
Speaker Change: Our agenda for 2019 will be party model, that's worthy of what your total shipments was actually yes sure.
Speaker Change: Chip.
Speaker Change: Yes on senior housing.
Speaker Change: Jeff.
Speaker Change: The Savannah trial is a single-site clinical trial led by AZ, a Phase II trial. The data presented at the 2022 WCLC showed that among patients with MAP mutations, approximately 34% developed resistance to Tagrisso. In the subgroup analysis of patients with no prior chemotherapy history, the combination of Savolitinib and Osimertinib achieved an overall response rate of 52%, a progression-free survival (PFS) of 7.2 months, and a durable response of 9.6 months.
Speaker Change: Yes, just along with that.
Speaker Change: 2009 that she comes in.
Speaker Change: Sure.
Speaker Change: Women.
Speaker Change: Hi, Jim.
Speaker Change: For a woman so lumpy Nepal Sri.
Speaker Change: What are you trying it seems to me that S why take EBT tushar.
Speaker Change: Yes, <unk> you Tom.
Speaker Change: Sure Youll Franklin to Tushar.
Speaker Change: Each of our transition County, Ohio.
Speaker Change: EMEA.
Speaker Change: Macrophage to ensure it keeps you at all about <unk>.
Speaker Change: So we decided in <unk> introduction I shouldn't be done.
Speaker Change: So the champion deal.
Sanjay Youll: Although there are some other options in the market, such as Miriposa with Emmy plus chemotherapy, Orient Vegef plus chemotherapy, these products are actually foreign injection combination drugs. Sevo combined with Osimertinib is entirely oral, offering targeted therapy and precision treatment options for patients with mutations. We have a very high potential in this direction, so we also hope that Savannah can drive the overseas expansion of Savolitinib.
Speaker Change: All of that.
Speaker Change: <unk> response rate.
<unk> IQ via that you guys should help Vinci ocular Youll talk I actually wanted to be.
Speaker Change: Sure. Thank you.
Speaker Change: Turned out so you can you.
Speaker Change: So lucky Buddha Jan Schott at all infants with Giovanni <unk> pumped hydro kimco seem watered out the repeat that tushar.
Jim Thompson: Sure Jim.
Jim Thompson: Currently our geoscience, although you.
Jim Thompson: You May touch you may be at some point.
Speaker Change: With that Jeff I'll turn it off.
Jim Thompson: So it's a trigger.
Speaker Change: Meanwhile, funded opinion.
Jim Thompson: Yes sure.
Jim Thompson: Sure.
Jim Thompson: Our goal to continue to shine.
Jim Thompson: Sorry about.
Jim Thompson: Well Matt.
Jim Thompson: To say enjoy solar Puma, what you sold them one yes, Joe and I should note is that <unk>.
Sanjay Youll: Research and registration. Okay, next question.
Jim Thompson: $5.
Sanjay Youll: In our other pipeline, we have the EZ-H2 transplant agent introduced from EPSON. This is a global first-in-class product that has already been approved in the United States and Japan.
Jim Thompson: Sure.
Jim Thompson: Sure.
Jim Thompson: Junkie and valued at up on its you should need oxygen valued Palo Verde soapbox.
Jim Thompson: Cheshire shallow part of that you've got your shirt.
Sanjay Youll: The registration of the green cannon 086 on the third line has been completed, and we have also completed our bridging. The results of the experiment will also be...
Speaker Change: Foster Madden that say pathogens handle.
Jim Thompson: Yes.
Jim Thompson: Alibaba Baidu Schwab.
Jim Thompson: So you can check out.
Jim Thompson: Woman go wager, a followup clinical site Les <unk> St class ship, a whole bunch of spacing cluster molecule.
Sanjay Youll: In the near future, he will present his clinical data at an international conference. We have also submitted an NDA for this project and hope to obtain results from the third-line trial in the second quarter of this year.
Speaker Change: What's your thought there.
John: John did you say Fox with Julia Qin, yet and yet it on the quarter.
Speaker Change: In addition, China is also participating in an international multicenter clinical trial by EPSON, which is the Symphony 1 study involving the combined use of Tazistar and R-Square.
Speaker Change: Question on fiber out without the Fuji.
Speaker Change: Let me take another <unk> <unk>.
Speaker Change: Washington D C and valid.
John: Jacob.
John: <unk> six <unk> that you ought to buy Shaw.
Speaker Change: In the second-line recurrence of the green bubble lymph sulfur of the southern branch, an international multi-news reading experiment was conducted. We hope that if this wild-type subgroup also completes enrollment this year, we also hope that our product can bring about new experimental results.
Speaker Change: Is that soil.
John: In 2000.
John: Sure Sean.
John: Postured to Calpine.
Speaker Change: Value golf shoes, you should you should your shop shortly.
John: ITT.
John: Okay.
John: <unk>.
John: Yes.
John: Shelly.
Speaker Change: Next step, next line
John: The <unk> side.
Speaker Change: Uh, we, uh, in the development pipeline, everyone is also very clear, uh, our Sorafenib is a, uh
John: <unk> dollar NDA, yet site seeded shunting Goldman.
John: And Otas out GB a painful at Huron, partly the champion keep quiet thankfully.
Speaker Change: Internationally competitive SYK inhibitors are actually immunosuppressants with dual functions. They inhibit B cells from producing autoantibodies and also prevent Marcovitch from phagocytizing blood platelets. Therefore, their clinical applications are relatively limited. None of the products have a very high durable response rate. According to a market analysis by IQVIA, there are approximately 250,000 patients continuing treatment. Based on the efficacy and clinical data of our Solopitinib, we believe it is competitive not only for patients who have undergone treatment but also for many uninsured patients who have no other options and will no longer receive treatment. Therefore, for the other half of the patients, it is possible to attract new patients and provide new assistance. Next slide. Our registration study on Solopitinib was actually presented at last year's European Hematology Association meeting, where the overall response rate reached 71% and the durable response rate reached 48%. This indeed demonstrates its advantage, as in its registration study, the durable response rate was only 18%. Therefore, we believe Solopitinib is competitive among similar Synclase molecules, specifically the Synclase molecule of Conad.
John: Hum.
John: Sure.
John: Oh sure.
John: Highest site Chin and ash.
John: Ash fabiano on them, but they are as shown.
John: Keeping tissue when com.
John: 100 <unk>.
John: Why.
John: Wanda Archie for Julia Chandler.
John: Sure.
John: Yeah.
John: Model.
John: Hi.
John: Sure I'll start by that.
John: You too.
John: I'm, sorry, I thought arches substitutability, Paul give us only in dialogue.
John: Sure she embodies <unk>.
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John: Shelf, what I should do at Ala Lucky.
John: Yes, it's on me yesterday, he is adria landsat hematology $5, neither should you I'm sure China.
John: Joe <unk> is on that facility probably in Europe.
John: She won't Julia in the Gulf.
John: It was a general nicotine quiet.
John: Hi, Jacob.
John: Samir <unk>.
John: It's a symptom.
John: <unk>.
John: Thank you Richard.
John: Sure Yes.
John:
John: Darla, we'll move to the <unk>.
John: One machine.
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John: Hi Fi E yeah that shouldn't the Python.
Speaker Change: You may begin.
John: Sure.
John: Sure, Yes stronghold actually you've got.
John: Okay.
John: Sure.
John: <unk>.
John: So sort of hunting shooting on top of volume VEGF as GFR, EOG, <unk> see us or whatnot.
John: <unk>.
John: At the same time, his long-term follow-up data was presented at the American Society of Hematology Annual Meeting at the end of last year. We can see an overall response rate of 81% and a sustained response rate of 51%. This is not only from the perspective of sickle cell disease but also in all the clinical data under investigation. It shows that it has a fast onset, high response rate, and long duration. In fact, it provides a very good benefit and safety for ITP patients. We have also submitted an NDA for Soliris and are in the process of review with the CDE, working closely with the NMPA. We hope to bring this product back to patients as soon as possible.
John: Yes, yes, yes.
John: At cheap either.
John: So even one that may not.
John: <unk>.
John: On the <unk> Youll Joe sure.
John: So far.
John: So if I'm, Josh on our laser map.
John: Jacqueline Barton ill say easier.
John: But so I think all are.
Sean: Yes, Sean.
John: Hi, Yo shop.
John: Sure Josh.
John: Median PFS Joe Yeah.
Speaker Change: OS that I'm sure. Some of you gave the audio on the holiday you will see a woman Archie good luck with it.
Speaker Change: Sure she like Jinan and I'll go back to the Archie for you.
Speaker Change:
Speaker Change: It should all essentially that high bar.
Speaker Change: Got you.
Speaker Change: Chairman I would like if we're going to update.
John: At the same time, we also presented our second study at last year's ASH.
Speaker Change: <unk> kicked off.
Speaker Change: <unk>.
Speaker Change: Yeah.
Speaker Change: That type of option Digest <unk>.
John: Autoimmune diseases are like a warm resistance.
Speaker Change: <unk> ADC think adoption.
Speaker Change: Achieving sure managing off.
John: The Wenkangwenpin project, our phase two data, also showed very good and encouraging results. The response rate of hemoglobin at eight weeks has reached 43%, and by 24 weeks, the overall response rate reached 66%, with a sustained response rate of 47%. This effect has been recognized at international conferences and its data has also been published in the international journal Lancet Hematology. Meanwhile, last year we...
Speaker Change: Yes.
Speaker Change: Alongside our legal Michelle <unk> audio visual side linker payload the Cape of funding from solar in Florida keys with us and so yes, yes.
Speaker Change: Yes sure.
Speaker Change: Let's say, you've got payroll tax level of Indiana, Georgia.
Speaker Change: The traditional ADC Baton, Georgia trigger.
Speaker Change: Right.
Speaker Change: Linda <unk>.
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Speaker Change: What metrics yourself.
Speaker Change: Yeah, Todd that.
Speaker Change: <unk> Hydrogel Shaw.
John: We have initiated this phase three injection clinical study, and we also hope to complete the enrollment this year as soon as possible.
Speaker Change: Yeah, Thanks, Tyler Broda Yo Yo Yo Shawn Buckley.
Speaker Change: The EBIT on charging Jewish Comtech Dr Bhatia.
John: By literally evaluating this product's review, we can achieve an optimal result. Next page.
Speaker Change: All the shear zones oil.
Speaker Change: Why not.
Speaker Change: So don't psychiatry with young children.
Speaker Change: Tom.
Speaker Change: Okay.
John: At the beginning, we mentioned our Sovantini because we are currently focusing on developing a first-line cancer trial. We believe that first-line diseases are actually immune tumors, but cold tumors have a low response to immune inhibitors. Sovantini not only has an inhibitor of BGFHF2 but also has an inhibitory effect on CS1R, which actually has other mechanisms in immune conditions. Therefore, we believe that based on our investigator-initiated research, Sovantini combined with Erythema and chemotherapy in the first line has achieved excellent results in the controlled Phase II trial, with an RR of 10% compared to 26%, a median PFS of 9 months, and an OS of 13 months. Compared to chemotherapy, it still has a significant advantage. Our Phase II stage has already been completed, and we hope to have the Phase II data this year.
Speaker Change: Bye bye.
Speaker Change: Yeah, he external although the standup careful you combine your way.
Speaker Change: We saw the ADC, Josh or keep on helping traditional Harley ultra beef are combined.
Speaker Change: I'm sorry.
Speaker Change: Yeah Yeah.
Speaker Change: So you can take a holiday a kitchen department Osha, Meanwhile, itchy kind of reconcile the unchanging.
Speaker Change: Golar <unk>.
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Speaker Change: Okay.
Speaker Change: So you can.
Speaker Change: So <unk>.
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Speaker Change: Yes sure.
Speaker Change: Tom Sheehan chip.
Speaker Change: Dmitry <unk>.
Speaker Change: Yeah.
Speaker Change: Sheldon <unk> environments, one key for sure Heiko, you can become golf in Asia molecule hobby prototypes.
Speaker Change: Right.
Speaker Change: Keith.
Speaker Change: Yellow dosing okay.
Speaker Change: <unk> achieved for what Youre trying to achieve.
Speaker Change: Yes.
Speaker Change: Taken off Youre walking by Yahoo.
Speaker Change: Electrical woman Joel.
Speaker Change: B.
Speaker Change: Proof of concept.
Speaker Change: Guide us through the opening of the three phases Next page
Speaker Change: All right.
Speaker Change: You got <unk>.
Speaker Change: <unk>.
Speaker Change: Now, let me update everyone on our ATTC.
Speaker Change: I didn't need to compete.
Speaker Change: Under the TD, one TD wanted you should target therapy.
Speaker Change: Yes.
Speaker Change: Hello.
Speaker Change: Italy and digitally.
Speaker Change: So at the end of this one Kendall <unk> know Shazam Joshua.
Speaker Change: <unk> alone County alone punish it sounds like <unk> got.
Speaker Change: The ear.
Speaker Change: Did you actually social company, Josh on payload don't forget that's yeah.
Speaker Change: Handoff tightly but DDR portfolio.
Speaker Change: Thanks, you want me to take the ATC.
Speaker Change: <unk> com.
Speaker Change: ATC site <unk>.
<unk> central but youll shot.
Speaker Change: It's all you.
Speaker Change: Anyway, you have a free come true for that with home could you kind of you.
Speaker Change: Sure sure.
Speaker Change: <unk> opened up so that youll share shelf into the payload.
Speaker Change: Jake.
Speaker Change: But sharpens the payload Josh I'll give a company Ali Engel.
Speaker Change: Yeah, sure Jay, but I thought she took asleep.
Speaker Change: <unk>.
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Speaker Change: Yeah, Yeah, sure you'll ship <unk>.
Speaker Change: Nigel Symphonia I sure will.
Speaker Change: With that I'll.
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Speaker Change: Sure sure antibody <unk>.
Speaker Change: Chip lines, yes.
Speaker Change: <unk> cautions update.
Speaker Change: But in China.
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Speaker Change: <unk> as a single dose to a number of emotions lithium.
Speaker Change: Probably the answer to your chicken that Shanghai I should say.
Speaker Change: Chicken frequently Fuji Trump trumpet.
Speaker Change: About ATC the Yorkshire.
Speaker Change: Sure.
Speaker Change: So you know on that.
Speaker Change: Then bundle ADC <unk> <unk>, one is that sort of gives you Sean.
Speaker Change: For those on the Georgia, social Johan at EBIT differentiation, your shampoo and soil Deutsche issue.
Speaker Change: Traditional ADC punishes side, you don't see in <unk> that is shipping now.
Speaker Change: A bushel.
Speaker Change: Jumping to high share.
Speaker Change: Two drivers that get you.
Speaker Change: Okay, next page
Speaker Change: Sure Dougal, So you cannot take county <unk>.
Speaker Change: This is what I use for everyone, a proof of concept we call an animal model.
Kimberly: Thank you Kimberly.
Kimberly: Shrunk from future. Meanwhile, possibly you can shoot a portal that standup <unk> yep.
Speaker Change: In fact, we see that we have a target.
Kimberly: Close we'll find out.
Speaker Change: 8.1 antibody plus this TD1, TD1 is target therapy
Kimberly: Yeah.
Kimberly: So in potash, but we see them.
Kimberly: In general.
Speaker Change: Connect a targeted payload with a conjunction.
Kimberly: Each year.
Kimberly: Hey, Joel.
Speaker Change: In the left graph, you can see the red and green lines, which actually represent the payload alone or the antibody alone. They inherently have a tumor inhibitory effect. When combined, the antibody and the payload, represented by the purple line, show a synergistic effect. However, our ATDC, which is the targeted antibody linked to the payload, even at lower doses of 10 milligrams or 30 milligrams, demonstrates a superior overflow effect.
Speaker Change: And John did you have a therapeutic window that she is shopping.
Speaker Change: More disruption tied back to the Yelp delivered on news that can only go tongue sheet easier toyoda.
Speaker Change: But you don't see it so he Jacobs shootouts 320 <unk> differentiation.
Speaker Change: Yeah sure she die at Jacobina, Pilar nimble dialogue towards Yung, Kim <unk> you might take.
Speaker Change: Tony.
Speaker Change: Linker payload Chuck Boettcher.
Speaker Change: Until the <unk>. So it takes you a champion tushar.
Speaker Change: Another very prominent difference can be seen in the picture on the right. The red and purple lines represent the small molecule payload and the small molecule payload combined with the antibody used together. In fact, the weight of the animals decreases with the administration of these drugs, indicating that the tolerance is still not very good. However, our antibody drug, which is antibody TD1, represented by the blue line, actually shows no impact on weight.
Speaker Change: Globally competitive first in class potential molecule sheet ITT.
Speaker Change: Julianna.
Speaker Change: <unk> borrowed debt.
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Speaker Change: So you're not solving tier by Yahoo.
Speaker Change: On site.
Speaker Change: The mill should have been so again GBM Trump <unk>.
Speaker Change: Generic.
Speaker Change: Yes, Sheila on door, there's a near term catalyst to assure a woman.
Speaker Change: And yet.
Speaker Change: Oh Boy junction in quantum that you always I guess.
Speaker Change: This is a very important proof of concept, showing that we can achieve a sustained release for 14 days with a single dose without affecting its safety. This actually fully demonstrates the advantages of ATTC in the frequent data. Next.
Speaker Change: Okay.
Speaker Change: Bob.
Speaker Change: John will be typical bill <unk>.
Speaker Change: Xiaomi Julianna directly with Germany, the first in class to champion.
Speaker Change: So you want that yes.
Speaker Change: Yes sure.
Speaker Change: <unk>.
Speaker Change: Sure.
Speaker Change: China.
Speaker Change: Dropbox or Pete Bocian contingent bearish.
Speaker Change: So we have a comparison with traditional ABC, which is in terms of the mechanism of our exposure battle.
Speaker Change: T cell <unk> and Dor.
Speaker Change: Oh, no what you'd have to get up at night, what brand also longer.
Speaker Change: The side effects of the pads have very good differentiation and synergistic effects, especially traditional ADCs. They are three-dimensional and nurture driver genes. For patients with nurturing properties, in fact, a lot of data proves that they are still not as good as those without nurturing drivers. Therefore, the combination of this antibody and target can fully embody the dual mechanism. Additionally, it can be combined with various stand-up care treatments to overcome chemotherapy resistance and long-term medication. Its toxicity can even manage some small molecules with a very narrow therapeutic window. Through our platform, the drug can be delivered to the tumor, allowing long-term inhibition of the tumor's driver genes. This is a very important differentiation, and we also expect this platform to bring us multiple competitive products because from this
Speaker Change: Okay.
Speaker Change: Okay.
Speaker Change: Way to ensure continuity of Shaw on them.
Speaker Change: Okay.
Speaker Change: This is John lines.
Speaker Change: So we see a woman.
Speaker Change: To the <unk>.
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Speaker Change: One is how we'll then has there been any of the season.
Speaker Change: Sure.
Speaker Change: Jim.
Speaker Change:
Speaker Change: Sure.
Speaker Change: She also has a unit.
Speaker Change: Switching to also take it since I'm almost thinking three Wheeler.
Speaker Change: Sure.
Speaker Change: From continued high why do you guys think.
Speaker Change: That's a good phone out.
Speaker Change: So which means you can put it just seems in hips.
Speaker Change: Joshua.
Speaker Change: Well, Nate I guess I don't want it gets Enzo now with <unk>.
Speaker Change: Yes.
Speaker Change: So harlan.
Speaker Change: Yolanda already since the casinos theme.
Speaker Change: The answer to that.
Speaker Change: One is that you know.
Speaker Change: No.
Speaker Change: Going below one johar alright.
Speaker Change: It's unusual for me, how you go way out of it and Joe.
Speaker Change: There have been many improvements on both the linker and payload, so these products are Globally Compatible First-In-Class Potential Models. We are also looking forward to submitting our first ATTC product for IND this year and hope to start the Phase I clinical trial internationally by the end of this year. Overall, we can see that our company is...
Speaker Change: It seems the majority of long tenure Dominion angle. So you want to route through Hong and later, because I think today.
Speaker Change: Brian.
Speaker Change: One just for Greg.
Speaker Change: The high Y O y.
Speaker Change: No.
Speaker Change: So I think this deal.
Speaker Change: So total velocity comfortable with on that.
Speaker Change: When it reaches Savannah cellphone and Joe.
Speaker Change: Savannah Ruger.
Speaker Change: There are traditional block.
Speaker Change: Yes.
Speaker Change: Ken.
Speaker Change: Somebody could see.
Speaker Change: There have been many advancements in tumors, hematological diseases, and autoimmune diseases. This year, we also have many near-term catalysts, such as the approval of our NDA and the presentation of multiple clinical results at international conferences. In addition, our tumor ATTC platform may bring us more competitive first-in-class products in the coming years. Therefore, we are making progress not only in product transformation, approval, and innovation enhancement for the future of the company. Alright, that's my introduction for today, I'll hand it over to Mr. Su.
Speaker Change: Separately in Joe's Jon just change Ocean bother, you asking not towards the machine.
Speaker Change: Uh huh.
Speaker Change: Great.
Speaker Change: <unk> essentially Angela Aman.
Speaker Change: Listen I just want doses.
Speaker Change: It seems like based on that.
Speaker Change: Sure.
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Speaker Change: Johnson younger ones on virtual.
Speaker Change: Commercial.
Speaker Change: Question two how you can put it this has been going on is certainly that's when they go through.
Josh: Josh This is Sean but Goldman Sachs hunting.
Speaker Change: She is on the other part of this is Tom.
Speaker Change: Oklahoma and take them in either time being full of people non <unk>.
Speaker Change: And then does it go after you bought it you should see a hail IV.
Speaker Change: Isn't that truth, and Joseph let's say as soon as hungry.
Speaker Change: Okay, thanks to my colleagues for their introductions just now. Let me briefly summarize and look ahead with everyone. First of all, we believe that 2024 is a very important year for Hehuang Pharmaceuticals. We have achieved truly sustainable profitability.
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Speaker Change: One shareholder so Sam can you go through.
Speaker Change: Unless listen so once it hits the one unusual man, but it's relevant.
Speaker Change: Hey.
Sandra Hudson: Sandra Hudson.
Speaker Change: Looking ahead, we are very confident that in the next three to five years, both our sales and profits will experience accelerated growth. This is mainly due to the further expansion of Foketin overseas and the acceleration of its commercialization in the domestic market through more trial approvals. Following closely behind Foketin, Sevotini is expected to receive approval for a new trial in combination with Ositini this year, bringing benefits to more patients.
Speaker Change: A cashier that bolt on and things.
Speaker Change: Yes.
Speaker Change: Sure.
Speaker Change: Liam fishes switching Allianz's Ya Qin Zhang.
Speaker Change: And then go senior quota.
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Speaker Change: Hey, guys.
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John: So these two are shipping glass as well.
Speaker Change: In Asia.
John: You're welcome.
Speaker Change: Brian I wish it on we should see the tangible assets of 100.
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Speaker Change: Do you want one.
John: Singapore has seen this promising AT&T is hungry and NGO Judah triangle Noma a ton.
Speaker Change: At the same time, there is another future study that is ongoing and is expected to be completed this year or next year. It should be completed this year, and it may also be approved in the near future. Of course, what is more important and what everyone is very concerned about is the overseas situation of Fukuizumab and Savolitinib. This is led by our partner AstraZeneca. Everyone is very concerned about the Savannah and Saffron studies. If Savannah receives support, there might be an opportunity for early submission. The Saffron study, on the other hand, is a large-scale, multi-center study that will support global submissions in the future.
Speaker Change: Im going to claw critical months ago to get tons here your thoughts are attempting to achieve.
John: I'm going to ask you about Nick.
John: Morning.
John: Oh, there's one.
John: But I don't think so.
John: It assumed a well known but about what you said I didn't know going into the cornea and rollout.
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John: Hi, guys.
John: How does this sounds I had no idea that Kieran anticoagulants are with us Alan just as that journey. Additionally, nice now Quincy, Washington, and Nashville, trying European competition going forward.
Speaker Change: A study of comparability Phase III study
Speaker Change: So these are all progressing very quickly at the moment, including the entry of Saffron, which we hope to complete this year. At the same time, there are more products in the pipeline. Mr. Shi just gave a very detailed introduction, including our other updated products, such as the hematological tumor product and our immunology product. Additionally, there are more to come, including our FGFR inhibitor and IDH inhibitor, which are currently in registration studies. These new products will further enhance our overall commercialization pipeline or product portfolio in China.
John: Okay.
John: Oh, my gosh in future sugar when you ship it for somebody else answer on that.
John: That's a good time working on attacking that.
Speaker Change: Susan <unk>.
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Speaker Change: So aside from these, actually we all know that we
Sandra Hudson: We have now achieved profitability, and our cash is continuously increasing. We will also explore better ways to utilize these funds and cash to further expand our product pipeline for commercialization in China. We can engage in product in-licensing or even pursue mergers and acquisitions as part of more strategic plans. Of course, we will actively explore activities in this area. In the longer term, by 2030 or later, we hope our new platform and innovative ATTC products will achieve success. These products will certainly lay a solid foundation for our long-term development. Now, I'll leave some time for everyone to ask questions. Over to you, Shilin.
Speaker Change: I assume that's when we'll hold us EMEA finance Humphrey singer.
Speaker Change: Thank you Alexander.
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Speaker Change: Some Iot and data.
Speaker Change: Thank you Tom.
Speaker Change: Alright.
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Speaker Change: I also hope you I apologize occurring kitasato, maybe Pete and Mark just a pretty much on Q because it takes quite a bit on the San Francisco to the Capex level.
John: Alright, now we are entering the Q&A session. Everyone can use the raise hand function on Zoom or write your questions in the Q&A box. In order to give more people the opportunity to ask questions, please limit your questions to 1 or 2. Thank you.
Speaker Change: Since you are you would seen Mike.
Speaker Change: Thank you Sir.
Speaker Change: Good morning apologies yeah.
Speaker Change: Kentucky dollar to assure Savannah again, your email wallet you conducted the savana either yet.
Speaker Change: Sure Ashwin Ghansham boarder accurate.
John: Now let's first invite Liu Yajun from CICC to ask a question.
Speaker Change: Yes, absolutely.
Speaker Change: The balance of <unk>.
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John: Yang Xin, you are responsible. Okay, thank you very much for giving me this opportunity to ask a question. I just have a small question here. At the end, the leader also mentioned that the company has achieved profitability and now has a relatively rich cash reserve. So, I would like to know what kind of products the company might be interested in acquiring in the future, or what kind of products would be synergistic with the existing products?
Speaker Change: AZ that Yahoo lifestyle part not sure.
Speaker Change: Yes sure.
Speaker Change: Th Goldman at Fisher.
Speaker Change: Yes, sure Xiang contacts with them yet.
Speaker Change: Linda.
Speaker Change: Savanna and Julian for the adult Youll modestly positive sure, making sure that you've got nickel triennial Pulesati Youll Savana I'm not sure.
Speaker Change: Thank you for your question. I think overall we are relatively open-minded. If we are talking about priority targets, they are definitely related to innovative drugs in areas like tumor immunology. Ideally, they would have some synergistic effects with our current products. In the future, there is potential for further exploration, including the possibility of combination therapies. So, relatively speaking, the priority targets are definitely products that are in the later stages and can be brought to market in the short term, particularly innovative products in the fields of oncology or immunology. Thank you.
Speaker Change: Moshe.
Speaker Change: Tell me if I can.
Speaker Change: Jim what you're going to go down.
Speaker Change: On both deals have another tool.
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Speaker Change: Our market driven approach actually yale's yet John our pulse two that kagel showed you the five year or so.
Speaker Change: Unknown at the time people.
Speaker Change: Sure Sheila.
Speaker Change: For a salary that boardwalk has sure Jim what do you call it the mature yet.
Speaker Change: Going forward the doubtful actual harsher.
Speaker Change: <unk> initially, but what it indicates is today in your Savannah, yes.
Speaker Change: Okay, thank you for your answer. I don't have any other questions.
Speaker Change: Yes, sure AZ site in timber <unk> Agricole, and then yes, you want me to hit <unk>.
Speaker Change: Now, let's welcome tonight's Yang Xicheng.
Speaker Change: Update along with a.
Speaker Change: And the investors that update.
Speaker Change: I have two questions I'd like to ask. One is about the whole, uh, just on my side, just now he mentioned that some official websites have also published our data. Compared to before, actually, whether it's, wow, or just, there have been some improvements. So I'd like to ask, according to our company's understanding, during our application process in the Sabana Experimental Zone, what are the main FDA considerations? Can we expect that with this data, we can apply for market approval? That's the first question. The second question is mainly about the whole App aspect. Since we used small molecules, the overall requirements for the activity of small molecules are relatively high, which might accumulate.
Speaker Change: Dr Glenn and Nigel Sherwell, not small molecule niche products or if they don't.
Speaker Change: Hi chip.
Speaker Change: Potash.
Speaker Change: Picomolar, Dan I'll take that ambition should you're I'm sure.
Speaker Change: Non of Mali, <unk> inhibition should yeah sure Tom.
Speaker Change: Yes.
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Speaker Change: Sure.
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Speaker Change: Payload Archie I believe Japan, Inc. Kurt you also don't all Akshay.
Speaker Change: Yeah, Sean you also hauck Harvey playful onshore oil Asia Halo, Oh, she's yet once of the on body, but novel target therapy molecule. So for me that's sharpened the kind of argue a glut.
Speaker Change: She'd habit.
Speaker Change: Okay, thank you for your question. Let's have Mike provide some answers for you. Ah, thank you. Yes, as mentioned earlier, regarding the Savannah study, we can see that the data from Savannah is indeed still consistent with what was previously reported, as it will also be published. So, we will publish this data next week. Actually, the data is still highly consistent. From AZ's perspective, they are also communicating with the FDA, and indeed hope, as Mr. Su mentioned earlier, that our Savannah study, because it is a controlled study, has a clearer name as a local study that can be registered globally. Savannah, perhaps in some countries, they are also communicating with regulatory agencies, hoping to use Savannah for registration. So now, as I mentioned on the previous slide, there are also some of these, although not bio, a bio-market driven approach, but there are also some data publications and approvals like Mariposa2. So, perhaps this single registration still requires acceptance for a salary approval and confirmation from regulatory agencies. From our perspective, it still...
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Speaker Change: ATC yield issues with amber fully RTL part of nitrogen.
Speaker Change: Thank you Richard.
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Speaker Change: Yes.
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Speaker Change: For decades.
Speaker Change: Marty.
Speaker Change: I assume Michael was April 20 <unk>.
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Speaker Change: Hello.
<unk> Zeta Hunter serves for him that cotton Nomura, So development Lingually in Zhuhai.
Jonathan Chang: And Jonathan Chang Ghana.
Speaker Change: Savanna is definitely an internationally multi-qualified research. Savanna might also be what AZ is using to communicate with regulatory agencies. We also hope to have some positive results. If there is an update, we will provide investors with an update.
Speaker Change: Sure sure.
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Speaker Change: Is this a dose.
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Speaker Change: Is it truly an Joe sorry.
Speaker Change: Saatchi Undulated triangle, Chris sure sure.
Speaker Change: The second issue is about our small molecule, and you are absolutely right. Because its picomolar inhibition is actually a very important payload choice. So, our platform not only has high requirements for small molecules and payloads but also for linkers. In fact, both aspects need to be considered comprehensively. We can say that all our payloads are novel target therapy molecules that we have developed ourselves. There are many other conditions to consider in the development of small molecules. However, after the linker, the most potent molecule is primarily preferred in the ATPC platform. It can basically bypass the limitations of traditional small molecules. From the proof of concept we showed earlier, you can see that a single dose of ATPC can maintain a sustained flow rate for 14 days, and its tolerance is very good. Mechanistically, the ATPC data is very impressive, and we hope to have clinical validation soon. If this can be developed, it may lead to a clinical proof of concept, and the platform will produce more competitive molecules.
Speaker Change: So sure.
Speaker Change: So think of the answer obviously as Josh I'll take a cell wall synthesis April one chip.
Speaker Change: Uh huh.
Speaker Change #100: Susan Mike Summit, just 51.
Speaker Change: Okay.
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Speaker Change #101: Well why aren't you Michelle Gala should then Dan that you ship all that goes.
Speaker Change: So something I want all of our lives.
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Speaker Change: To that way of lenses that are mature.
Speaker Change: No one has that changed.
Paul: Hello, Paul.
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Speaker Change: Okay, thank you, Michael. I will add some information about the global registration status of Savannah and Saffron. As everyone knows, among the second-line EGF-RTTI resistant patients, nearly one-third of them exhibit MET amplification. In fact, the success of China's SARCH study has laid a very good foundation for the subsequent success of studies like Saffron. These are all very precisely targeted patients. The success of China's SARCH study has already demonstrated that the combination of Osimertinib and Savolitinib for this group of patients should be very effective. Okay, thank you, Michael. Let's continue with the questions.
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Paul: Surely ship things once you're in there shortly.
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Speaker Change: Next, let's welcome Yang Jing from Wuyin International.
Paul: Neal can you share that with Novartis.
Paul: This was announced in June.
Speaker Change: Ah, thank you, thank you for giving me the opportunity to ask questions, leadership. I am Yang Jing from Puyun International. I have a quick question here that I would like to ask the management. One is that we just mentioned acquiring some potentially late-stage products. I would like to ask if the leadership could share more details with us, for example, whether we will focus more on foreign assets or domestic assets, and whether there is any guidance on the timing of these acquisitions? For instance, will we complete one this year? Additionally, I have a question about ATCC. If we look at it globally, do we currently see any competitors doing similar full-license ATCC work? Globally, how do we compare in terms of progress with our competitors? Lastly, I have a financial question: do we expect to have milestone revenue in 2025? Yes, those are my three questions. Thank you.
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Paul: So I heard about it and then just so as you've seen the trend that you've seen this year.
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Paul: Go ahead, John Lindsay.
John Lindsay: So as any in the hall, and we really seek to the east on the cost issue that suddenly you call. It.
Paul: So Tony do.
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Paul: Hello Anastasia.
Paul: Cigna is ill call it and then.
Paul: Okay.
Paul: Sign up on the shelf.
Paul: Okay, okay, thank you very much. Regarding product acquisition, we are actually just starting to explore and look into it, and currently, we don't have anything specific.
Paul: Sure sure sure.
Paul: Sure Brad.
Paul: Saturday afternoon.
Paul: It seems that you are.
Paul: Yeah.
Speaker Change #103: How about just any knowledge of Danielle O'brien I wanted to ask you.
Speaker Change #103: Some of it and what have you done that one.
Paul: Including the points in time you just mentioned, basically, it's a very open situation. Of course, as for whether the product acquisition is domestic or international, it's not very important. The most crucial aspects are the quality of the product, the alignment between the product and our commercialization team, and whether there is better synergy with the products in our pipeline. These are the things we are more concerned about. Overall, these are the aspects we are just beginning to look into.
Speaker Change #103: Okay.
Speaker Change #103: Okay.
Speaker Change #103: Right.
Speaker Change #103: Okay.
Speaker Change #103: Hello.
Speaker Change #104: Another 90 days and then it turned out because as you know.
Speaker Change #103: Hello.
Hey, Adam.
Speaker Change #103: Well that's helpful.
Speaker Change #103: All right.
Speaker Change #103: Absolutely.
Speaker Change #103: Absolutely.
Speaker Change #103: Quickly just on Sunday.
Speaker Change #103: So as I look at opening for us.
Speaker Change #103: Okay.
Speaker Change #103: Okay.
Speaker Change #103: Okay.
Speaker Change #103: Okay.
Paul: The development of ATTC is relatively new and should be considered a first-in-class modality, a new treatment approach. Of course, it still requires clinical validation. I also showed some preclinical data earlier, which looks very encouraging, but clinical validation is still needed.
Speaker Change #103: Yes, that's a great example.
Speaker Change #103: I'll tell you I'll call them that.
Speaker Change #103: Sure.
Speaker Change #103: So all the type of auto parts for what you can to our curriculum.
Speaker Change #103: I appreciate it.
Speaker Change #103:
Speaker Change #103: Uh huh.
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Speaker Change #103: <unk>.
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Paul: Overall, in this field, we believe that HUTCHMED is still relatively leading. Of course, for this targeted therapy, different targets can be chosen. As for what kind of competition there is, it is not very clear at the moment. In terms of finance, when it comes to milestone revenue, apart from Fruquintinib, which of course has some commercial milestones, if Surufatinib gets approved, whether it will be this year or later, there will be some milestones in the future. Further down the line, it might involve new products and new collaborations. Overall, there might be some this year, but not too many. That's why we mentioned earlier that achieving profitability, we believe, is a truly sustainable profitability, not relying on one-time payments to achieve profitability. This still depends on our commercial sales to achieve this revenue and thus achieve such profitability. Thank you for your question.
Speaker Change #103: Okay and just.
Speaker Change #105: Thank you.
Speaker Change #103: Yeah.
Speaker Change #103: Yes.
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Speaker Change #106: Yeah, that's a good tracking needle now Marlin wagon.
Chris Fuqua: Yeah, Chris Fuqua.
Speaker Change #106: Increasingly stomach.
Chris Fuqua: So good.
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Speaker Change #108: Essentially in Carinthia with Jeanne Johns decision soon.
Chris Fuqua: Not just for us a clean.
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Chris Fuqua: Sure.
Chris Fuqua: Uptake has been a host yet on the whole issue of Hudson's New York, Florida Utilities just.
Chris Fuqua: Sunshine that you shouldn't think of this.
Speaker Change #109: Well, Tom and Sean <unk>.
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Speaker Change #103: Okay, thank you, leader. I don't have any additional questions here. Thank you. Alright, now let's invite Gan Tanhuan from Guotai Jin'an to ask questions.
Chris Fuqua: Now Honduras.
Chris Fuqua: And then.
Chris Fuqua: Samsung has it seems and so when a buckle Joe the AUM in Asia, which are channeling that hand.
Speaker Change #103: Yes, there are two questions. The first one is about sales. By last year, the data for the U.S. was 290 million USD. Yang Bo, please speak a little clearer, it's not very clear here. Okay, okay, the first question is about U.S. sales. By last year, there were approximately 290 million USD in sales, but now in these recent quarters, it's been more frequent. Firstly, what is the subsequent quarterly sales situation in the U.S., and what is the current sales trend in Japan and Europe ? This is the first question about sales. The second question is about NTT. As you can see, the data is very impressive, and I would like to ask about the subsequent development strategy, including which fields our trial certificates might be in, and whether our development plan will move towards the front line or possibly start from the back line? Please continue.
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Speaker Change #110: It sounds like an urban hot <unk> Zacks, Hi, So first on China.
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Chris Fuqua: Linda.
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Chris Fuqua: Microsoft just shortly.
Speaker Change #111: Ken This is what you are saying that agricultural market.
Chris Fuqua: So listen I appreciate your time.
Speaker Change #111: Bullish happy.
Speaker Change #111: Put them a payload that Tony on the payload at LCL put them account.
Speaker Change #111: And so it does it does.
Speaker Change #111: Bill.
Speaker Change #111: Yes.
Speaker Change #111: There's a ton of helium.
Speaker Change #111: So we still think.
Speaker Change #111: We have toured handheld as it sounds.
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Speaker Change #111: Here you can see in the time consumed in Chaucer.
Speaker Change #111: Yes.
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Speaker Change #111: Yes, John.
Speaker Change #111: So when I listen I'll have to go.
Speaker Change #111: And so at the moment simulation you can do a short you're taking that.
Speaker Change #111: Alright, Thanks, guys, yeah. Thanks, Scott.
Speaker Change #111: Yes.
Speaker Change #111: Hmm.
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Speaker Change #113: Hey, guys good morning.
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Speaker Change #113: They're going to.
Speaker Change #113: But when.
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Speaker Change #113: Yes.
Speaker Change #114: Our agenda to go Green Dot Baas and with Helman <unk>.
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Speaker Change #114: Yeah.
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Speaker Change #114: Revenue Okay.
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Speaker Change #114: No.
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Speaker Change #114: Korean nickel no problem assets.
Speaker Change #114: Virginia to payoffs and how long do you see it sound routines.
Speaker Change #114: <unk> asked in the house to prevent EMEA to shorten the messaging required <unk> Super <unk>.
Speaker Change #111: Wait, this is a relatively large field, so there will be multiple products. Moreover, relatively speaking, Andre is quite close, and there might be a new product entering clinical trials every three to six months. Also, Mr. Liu is involved as well.
Speaker Change #114: Two.
Speaker Change #114: To assist.
Speaker Change #114: Just compound mutation.
Speaker Change #114: <unk> Jim.
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Speaker Change #114: Most of that in the Alaska fashion Pamela.
Speaker Change #114: Pamela towards launching <unk> Roland <unk>.
Speaker Change #111: It is very broad-spectrum and also requires sufficient clinical validation.
Speaker Change #114: Sheep tie Chenzhou two two.
Speaker Change #114: Saverio condo.
Speaker Change #114: <unk> <unk> tissue.
Speaker Change #111: Overall, it's still a bit early now. Once we enter the clinical phase, we will have more data to share with everyone.
Speaker Change #114: Yes.
Speaker Change #114: You would see him Microtome King James initiative.
Speaker Change #114: All right.
Speaker Change #111: Okay, thank you, village chief. We are also very much looking forward to it, thank you.
Speaker Change #116: Hey, guys. Yeah go onto Johan you may not the woman's John David.
Speaker Change #116: Oh, Yeah sure.
Speaker Change #111: Alright, let's welcome Kang Taimeng from Southwest University of Political Science and Law.
Speaker Change #114: We all focus for sure.
Speaker Change #116: Sure amplification over expression.
Speaker Change #113: Thank you to the company management for giving me this opportunity to ask a question. Subo, I have just one question: with all the cash we have now, do we have any plans for buybacks in the future? Because indeed, the stock price is at a relatively low level. As we just mentioned in the report, we have $1.4 billion, and our market value is now less than $3 billion. That's my question, thank you.
Speaker Change #116: Xiaomi geometry quality all day on our buyers I'm sure honestly all true.
Speaker Change #116: Sure you had harder the Hong Kong Agency Young Watson mailed to just sell them to the sample.
Speaker Change #116: We will mail to E.
Speaker Change #116: I always like to see a biomarker to validation of pediatric they've all of them.
Speaker Change #114: The short answer is that currently we have no plans to conduct this buyback because we believe there are many opportunities and better chances to invest in. This might bring better returns to investors, so there is no buyback plan for the time being.
Speaker Change #116: Thanks, you too.
Speaker Change #116: Oh, gosh autumn Mayo compound basher hot young to the matter.
Speaker Change #116: Hum overexpression of hygiene.
Speaker Change #116: Buddy shop.
Speaker Change #116: But you can be found in <unk> two shops, we control all of the Sochi and Youll sure sure if he hung.
Speaker Change #118: Yes, John I get the math.
Speaker Change #115: Oh, okay, thank you, Suber.
Speaker Change #118: Because I'm sure you've got a film.
Speaker Change #114: Okay, due to time constraints, we will have the last question from the guest from Kaiyuan Securities.
Speaker Change #116: Tony already but no teacher MSI at Jacobina.
Speaker Change #118: <unk>, Washington, while Michelle Mail actual Gmail Fob deal how long you see now.
Speaker Change #116: <unk> quite sure on that part of the short fall back for that or you thought you account for Jay to choose from.
Speaker Change #114: Hello, can Mr. Shi hear my voice? Yes, please go ahead with your question. Okay, thank you Mr. Shi for giving me this opportunity to ask questions. I have two questions about the second-tier 'Fei Xiao' to consult. The first is about epidemiology, and the second might be about a situation of taking charge. The first question is that we might have observed that in the second-tier 'Fei Xiao'...
Speaker Change #116: <unk> shot Tricia, yes, Matt sure.
Speaker Change #118: But without that.
Speaker Change #118:
Speaker Change #118: Jacob hung out in future.
Speaker Change #118: The tundra now, albeit elite Joshi of ruble.
Speaker Change #118: Not that data logical Sochi data at <unk> young Jedi should equate to annual draw doorway.
Speaker Change #118: You may now.
Speaker Change #118: How the auction will go over the centers.
Speaker Change #114: In the mutations within Osipininao, there might be 20-30% of these non-classical mutations. Currently, there are also many advancements overseas. So I would like to ask whether the MAT part of Osininao's mutations is completely independent of these non-classical ones, or if there are some compound mutations. Secondly, regarding the entire second-line non-epithelial cells, the entire landscape has undergone significant changes. I would like to ask if, during the global enrollment process of our Phase III, there have been any impacts on clinical trial enrollment. Thank you.
Speaker Change #120: <unk>, yes.
Speaker Change #118: Yes, <unk>, so im not sure yet.
Speaker Change #118: AZ that jumped to life, all Homager young age of the roof of Orchard.
Speaker Change #121: Great Julien.
Speaker Change #118: Yes sure.
Speaker Change #118: What you.
Speaker Change #122: Do you actually see them onto the Sochi lessor on other data Fabio one way ticket.
Speaker Change #118: You may actually go.
Speaker Change #118: <unk> Qualcomm centralized J P <unk>.
Susan: Hey, Susan Microsoft.
Speaker Change #118: Oh excuse me.
Speaker Change #118: Thanks Hamzah.
Speaker Change #118: And so you end up in Israel.
Speaker Change #118: Uhm, so long that I got.
Speaker Change #114: I will ask Mr. Mike to give you an introduction. Okay, thank you for the question. Because the patients we selected for the Osimertinib drug actually mainly focus on the overexpression of the Kankan changes. As you mentioned, the crossover band was originally about 32%. As for this Kankan change, we did not directly conduct it in our sample. Actually, we did not dare to do it because we still need to confirm some biological markers and the development of CDX. However, from the clinical data, I cannot say it does not have Kankan, but it seems that this MAT amplification and overexpression still have a very unique effect. A patient is a very clear mechanism of the Osimertinib drug. And as Mr. Su said, our SARCH study indeed very much validated that MAT amplification is a very important mechanism of the Osimertinib drug. Because in this patient, the combination of Osimertinib and Sevo, although we have not published the data, we are also trying our best to publish this data as soon as possible. You can see that this indeed validates from the motivation that MAT is a dominant resistance mechanism. At the same time, we also believe that if the data from SARVANA and SARCH are published, I think it will encourage researchers because many national and global research centers are doing SARFON.
Jeff: Yeah, Hey, John This is Jeff I Didnt catch exactly amongst the Joan Sangamo Johnny.
Speaker Change #124: The only real quick.
Jeff: Hello could you Kandahar Hawaii all.
Speaker Change #124: Owning our Seattle <unk> Susan is on that.
Speaker Change #124: Leasing.
Speaker Change #124: Neil.
Speaker Change #124: Endorsing the Chongqing Qingdao Shenzhen tissue.
Speaker Change #124: The compound is hung up quickly.
Speaker Change #124: Hawaii Oh shoot.
Speaker Change #124: Shire what.
Speaker Change #124: <unk> it sounds like it's only the mobile minutes Sudano, you can book versus hunting.
Speaker Change #124: And then goes to the highway towards her shop.
Speaker Change #124: So it <unk> only.
Speaker Change #124: On the Q1 higher by influenced that doesn't Guangzhou <unk> so at the moment.
Speaker Change #124: Yeah, it's a great honor.
Speaker Change #124: She went through does it seem like it.
Speaker Change #124: I assume that you could see from Alejandro does.
Speaker Change #124: Okay.
Speaker Change #124: So she is the enzyme.
Speaker Change #124: I'm going with it.
Speaker Change #124: Since it <unk> seem quite a treat to see a time to accumulate and cause you aren't seeing clients at all because once you Angela shortly.
Sanjay Youll: I'm being Uber triangular block Sanjay.
Jonathan Chang: Good morning, Jonathan.
Speaker Change #124: I'm sorry about that.
Speaker Change #124: Denny.
Speaker Change #124: Thanks, guys, Thanks, Hi, Jonathan Huntingtown Antonio.
Speaker Change #124: Yeah, Doug there sure.
Speaker Change #124: Again.
Speaker Change #124: Yeah.
Speaker Change #124: Yeah.
Speaker Change #124: Yeah.
Speaker Change #118: Also participated in the Savannah clinical trial. From AZ's perspective, they believe this enrollment is
Speaker Change #121: We hope to complete the enrollment this year and also hope that the data from SARCH and SARANA will be published. This will accelerate the enrollment process because it is a very important resistance mechanism that can be demonstrated clinically.
Susan: Thank you
Speaker Change #118: Okay, thank you, thank you. We have other questions now, thank you.
Speaker Change #124: Okay, today's meeting is concluded. Thank you all for participating. Goodbye.