HONG KONG, Oct 18, 2024 - (ACN Newswire) - Everest Medicines (1952.HK) closed today with a 20.46% increase, hitting a high of HKD 28.6. The company's stock price has been steadily rising since the release of its interim results, with today's trading volume reaching HKD 291 million. Market updates show that BOCOM International released a report assigning an 'outperform' rating to the Chinese pharmaceutical sector, with Everest Medicines being one of the key recommended stocks.

Recently, the Hong Kong government released a policy address with numerous measures aimed at attracting overseas capital to Hong Kong, which has been a positive driver for the Hong Kong stock market. Additionally, negative sentiment in the innovative drug sector is gradually fading, and the market is now focusing on companies with profit potential and valuation recovery resilience.

According to Everest Medicines' 2024 interim financial report, the company saw a significant revenue increase in the first half of the year, reaching RMB 302 million, representing a 158% growth compared to the second half of last year, marking the first time the company has achieved commercial profitability. The company's core products, Nefecon® and XERAVA® (the world's first-in-class fluorocycline antibiotic), have already been commercialized, with three products expected to be launched by the end of the year. In terms of innovative research and development, Everest Medicines owns an mRNA platform with full intellectual property rights and global benefits, dedicated to developing both preventive and therapeutic mRNA products. The company expects to achieve full-year sales of RMB 700 million by 2024 and aims to break even by the end of 2025.

As BOCOM International released a report, it highlighted that innovative drug companies with abundant short-term catalysts, strong profit growth potential, or clear break-even timelines, along with significant valuation recovery potential, are worth close attention. Investors are also advised to focus on small and mid-sized innovative pharmaceutical companies whose market value diverges significantly from their fundamentals. These companies are expected to experience a strong rebound as liquidity improves.

Over the past two months, Everest Medicines' stock has risen by over 65%. Recently, the unexpected adjustments in domestic monetary policy further energized capital markets. The continuous rise in both Hong Kong and mainland Chinese stock markets highlights the innovative drug sector as a key area of focus, given its long-term valuation bottoming and significant growth potential, making it a highly attractive investment in this market rally.

Copyright © 2026 ACN Newswire. All rights reserved. A division of Asia Corporate News Network.