China
United StatesBiotech & Genomic Medicine▼impact 4
Furmonertinib Global Phase III Trial Misses Primary Endpoint; Allist Plans to Buy Back 100 Million to 200 Million Yuan of A-Shares
Allist announced on October 7 that it plans to use its own funds to repurchase part of its A-shares through centralized bidding, with a total repurchase amount of no less than 100 million yuan and no more than 200 million yuan. The repurchased shares will be used for employee stock ownership plans or equity incentives. The buyback was proposed by Du Jinhao, the company's actual controller, chairman and general manager. The company previously announced that the FURVENT Phase III trial of its core product, furmonertinib mesylate tablets, as monotherapy for previously untreated locally advanced or metastatic non-squamous non-small cell lung cancer patients with EGFR exon 20 insertion mutations, did not meet its primary endpoint of progression-free survival as assessed by blinded independent central review. Clinical benefit was observed in secondary endpoints including investigator-assessed progression-free survival and confirmed objective response rate assessed by blinded independent central review. Overall survival data are not yet mature, but a clear trend toward improvement has been observed. Affected by this, overseas development partner ArriVent plunged 46.98 percent in a single day in the U.S. stock market on October 6. Furmonertinib is the absolute pillar of Allist's revenue. Full-year sales in 2025 were 5.12 billion yuan, accounting for about 98.7 percent of total revenue. Sales in the first half of 2026 were about 3.138 billion yuan, accounting for about 94.52 percent of total revenue, with all sales currently coming from the Chinese market. In June 2021, the two parties reached a collaboration on the overseas development and commercialization of furmonertinib. Allist received an upfront payment of 40 million U.S. dollars, cumulative development and sales milestone payments of up to 765 million U.S. dollars, sales royalties, and a certain percentage of ArriVent shares. The trial failure has cast doubt on the realization of a considerable portion of those milestone payments.
About megatrends
Biotech & Genomic Medicine › Oncology Therapeutics ▼Technology
688578.CG · Capital · Positive Allist announced a 100-200 million yuan A-share buyback for employee stock ownership plans or equity incentives.
688578.CG · Technology · Negative Allist's core product furmonertinib (about 98.7% of revenue) failed to meet the primary endpoint in the global Phase III FURVENT trial.
AVBP · Technology · Negative FURVENT Phase III trial of furmonertinib, which ArriVent is developing overseas, missed its primary endpoint of progression-free survival, sending its shares down 46.98%.