On August 29, Everest Medicines (1952. HK) revealed its interim outcomes for the 6 months ended June 30, 2025. The Company’s overall profits for the very first half of 2025 reached RMB 446 million, representing 48% year-over-year development, while running expenditures as a portion of income reduced by 40.1 portion points, showing strong functional performance. Non-IFRS loss narrowed by 31%, and gross margin omitting non-cash products was 76.4%. Since completion of June, the Company preserved a strong money balance of RMB 1.6 billion. Furthermore, with the effective conclusion of a share positioning on August 1, which created net earnings of HK$ 1.553 billion, Everest’s overall money position increased even more, supplying a strong structure for commercialization growth and R&D financial investment. Supported by the outstanding efficiency of its core items, Everest stays positive in accomplishing its full-year profits assistance of RMB 1.6 to 1.8 billion and anticipates to turn running capital favorable in Q4.
BOCOM International launched its most current report today, keeping in mind that the strong sales efficiency of Everest Medicines’ Nefecon(R) far went beyond expectations. The organization considerably raised its earnings projections for 2026– 2027 and raised its target rate to HK$ 84. The report highlighted an abundant pipeline of drivers from the 2nd half of 2025 through 2026, consisting of the approval, commercialization, and compensation settlements of etrasimod in China, in addition to prospective BD chances for the Company’s exclusive pipeline. BOCOM International thinks the existing assessment stays appealing and repeated its “Buy” ranking.
“In the very first half of 2025, Everest Medicines accelerated its change into a leading worldwide biopharmaceutical business by deepening our ‘dual-engine’ method. We have actually developed a commercialization platform anchored by 2 smash hits covering high-potential markets and powered by the internal discovery and scientific translation of in vivo CAR-T and mRNA healing cancer vaccine platforms.” stated Rogers Yongqing Luo, Chief Executive Officer of Everest Medicines.
Core Products Deliver Strong Growth, Driving Commercial Platform Momentum
NEFECON(R), the hit item in the kidney portfolio, provided especially strong efficiency. As the very first and just totally authorized etiological treatment for IgA nephropathy (IgAN) in China, the United States, and Europe, NEFECON(R) produced income of RMB 303 million in the very first half of 2025, representing 81% year-over-year development. Our very first half profits was synthetically low due to a supply restriction that was rooted in both strong market need and a hold-up in regulative approval of an additional application for production scale up created to make sure supply stability. This has actually been totally solved given that our extra application was authorized by the China CDE on Aug 1, 2025. Following the extra application was authorized by the China CDE in August, supply capability increased considerably. Cumulative sales from January to August reached RMB 825 million, consisting of RMB 520 million in August alone, showing strong market need. Full-year sales are anticipated to reach RMB 1.2– 1.4 billion, with continued strong development forecasted in 2026, possibly reaching RMB 2.4– 2.6 billion.
Another Core item XERAVA(R), As the world’s very first fluorocycline antibiotic tape-recorded RMB 143 million in the very first half of 2025, up 6% year-over-year. In-hospital sales increased 37% year-over-year, driven by Everest’s core health center method.
In Addition, VELSIPITY(R) (etrasimod), a best-in-disease treatment for reasonably to badly active ulcerative colitis (UC), is placed as Everest’s next development engine, with its NDA in mainland China anticipated to be authorized in the very first half of 2026. The localized production job for VELSIPITY(R) was formally gone for the Jiashan making website in March 2025, offering strong assistance for its future commercialization.
Worldwide Proprietary Pipeline Value Emergingï 1/4 ŒStrong Prospects for Blockbuster Potential
Everest continues to concentrate on attaining essential advancements in its exclusive pipeline, while speeding up the medical advancement and international growth of ingenious properties with worldwide rights. EVER001 (civorebrutinib), the next-generation covalent reversible BTK inhibitor, has actually provided motivating Phase 1b/2a medical information in main membranous nephropathy (pMN). With possible applications in IgAN, very little modification illness (MCD), and FSGS, covering a client population of more than 10 million around the world, EVER001 represents a considerable market chance, with forecasted worldwide peak sales surpassing RMB 10 billion. An international Phase II basket trial is anticipated to be started in the very first half of 2026.
Leveraging its industry-leading mRNA restorative cancer vaccine platform and in vivo CAR-T platform, the Company is constructing an internationally competitive R&D pipeline. EVM18, the in vivo CAR-T program, has actually finished several non-human primate (NHP) trials and accomplished preclinical proof-of-concept, with first-in-human information anticipated by the end of 2025. EVM16, the customized restorative mRNA cancer vaccine, has actually started its first-in-human trial in China, with client dosing finished. In the investigator-initiated trial (IIT), dosage escalation in the low- and mid-dose mates has actually been finished, with motivating initial information observed. EVM14, an off-the-shelf tumor-associated antigen (TAA) vaccine, has actually gotten IND approval from the U.S. FDA and approval from China’s NMPA. The Phase I trial in the U.S. is presently underway, with very first client registration anticipated by September 2025. EVM15, the immune-modulatory cancer vaccine, has actually finished preclinical proof-of-concept and recognized its scientific prospect.
Strategic Repositioning to Bolster Global Competitiveness
Throughout the reporting duration, the Hong Kong Stock Exchange authorized the elimination of the “B” marker from Everest’s stock brief name, showing acknowledgment of the Company’s strong R&D pipeline, commercialization abilities, and total organization basics. In addition to the effective top-up positioning, Everest invested roughly US$ 30.9 million in I-Mab (Nasdaq: IMAB) in August 2025. Following the deal, Everest increased its ownership in I-Mab to around 16.1%, becoming its single biggest investor, even more reinforcing its international existence in next-generation immuno-oncology treatments.
Experts kept in mind that Everest’s “dual-engine” method is quickly providing outcomes. On the one hand, the Company’s effective business platform– anchored by NEFECON(R) and VELSIPITY(R) and supported by XERAVA(R), Cefepime-taniborbactam, EVER001, and other high-potential possessions– is anticipated to create synergies with overall peak sales going beyond RMB 25 billion internationally. On the other hand, Everest’s in vivo CAR-T and mRNA restorative cancer vaccine platforms supply substantial long-lasting development capacity through worldwide advancement and collaboration chances.
Subject: Press release summary
