Everest Medicines reports 157% H1 2026 revenue surge to US$161.7M
The company recorded non-IFRS net profit of RMB 97.23 million (US$13.7 million), while its IFRS net loss narrowed 98% year-on-year. Everest ended the period with RMB 1.859 billion (US$261.8 million) in cash.
CHINA—Everest Medicines has reported a 157% year-on-year increase in revenue to RMB 1.148 billion (US$161.7 million) for the six months ended June 30, 2026, driven by continued growth across its commercial portfolio.
Gross margin, excluding non-cash items, reached 73.7%, while operating expenses as a percentage of revenue fell 64 percentage points year-on-year, reflecting improved operating efficiency.
The company recorded non-IFRS net profit of RMB 97.23 million (US$13.7 million), while its IFRS net loss narrowed 98% year-on-year. Everest ended the period with RMB 1.859 billion (US$261.8 million) in cash.
In July, it received approximately RMB 770 million (US$108.5 million) from an upfront payment under its global licensing and collaboration agreement for civorebrutinib.
NEFECON drives commercial growth
NEFECON maintained strong sales momentum, generating RMB 889 million (US$125.2 million) in revenue during the first half, up 94% year-on-year.
Everest attributed the growth to deeper hospital penetration, wider market expansion, physician and patient education, and increased real-world evidence.
VELSIPITY moved into commercialization following approval, while local manufacturing progressed.
XERAVA also delivered steady hospital sales growth, with local production advancing as planned.
Meanwhile, commercialization services for Hasten Biopharmaceuticals contributed RMB 145 million (US$20.4 million) in service revenue and RMB 28 million (US$3.9 million) in commercialization profit after services for mature products under the CSO arrangement began in March.
Expansion through licensing and R&D
In June, Everest entered an exclusive licensing and collaboration agreement with Travere Therapeutics for civorebrutinib, also known as EVER001, covering markets outside China and certain countries in East and Southeast Asia.
The agreement could generate up to US$1.1425 billion, including a US$112.5 million upfront payment and approximately US$1.03 billion in milestone payments, plus tiered royalties.
Everest said EVER001 achieved positive 52-week Phase 1b/2a results, while a Phase 2 basket trial in China is evaluating its potential in autoimmune kidney diseases, including FSGS, MCD and IgAN.
The company also added MT1013, DMX-200, and Bejescin to its nephrology and autoimmune portfolio, while CARDAMYST and Sumecigrel expanded its cardiovascular pipeline.
LNZ100 and VIS-101 strengthened its ophthalmology portfolio.
Global commercialization platform
Everest’s proprietary AI+mRNA platform also advanced.
Its personalized mRNA cancer vaccine EVM16 generated first-in-human clinical data and is planned to enter an investigator-initiated Phase 1b study in the fourth quarter.
EVM18, an in-vivo CAR-T therapy, has entered investigator-initiated studies in several autoimmune diseases.
The acquisition of Hasten Biopharmaceuticals established a pan-Asia-Pacific commercialization platform to support expansion beyond China.
Separately, CBC Group and Everest directors have purchased 5.163 million shares since December 2025, representing more than HK$172.5 million (US$22.0 million) in transactions.
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