On August 28, EVEREST MED fell 5.2% in regular trading to HK$34.96, with turnover of HK$325 million. The decline was driven by fading enthusiasm for the mRNA concept and broad weakness across the biotech sector, with sector peer CanSino Bio dropping over 10% on the same day.
The stock had previously rallied sharply following Moderna and Merck's announcement of positive Phase III results for their mRNA personalized cancer vaccine on August 20, which triggered a sector-wide surge. EVEREST MED benefited from its proprietary mRNA platform, including personalized tumor vaccine EVM16 and off-the-shelf vaccine EVM14. However, after substantial gains in recent sessions, profit-taking pressure emerged as sector momentum reversed.
On fundamentals, the company reported H1 revenue of RMB 1.148 billion, up 157% year-over-year, achieving a turnaround to profitability. Core product Nefecon recorded 94% sales growth. BOCOM International maintained a Buy rating with a HK$66 target price but cut revenue forecasts by 15-18%, citing intensifying competition for Nefecon and supply constraints for Xerava.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)
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