Everest Medicines Reports 1H 2026 Results, Enters New Phase as Growth Accelerates and Innovation Gains Momentum
HONG KONG, August 19, 2026 - Everest Medicines (01952.HK) announced its interim results for the six months ended June 30, 2026. Everest delivered strong growth and reached an important profitability milestone in the first half of 2026. Total revenue increased 157% year-on-year to RMB 1.148 billion, driven by continued commercial momentum across the company’s portfolio. Gross margin excluding non-cash items reached 73.7%, while operating expenses as a percentage of revenue decreased by 64.0 percentage points year-on-year, reflecting increasing operating leverage and execution efficiency. From the first-half results, the company’s growth drivers are broadening beyond the commercialization of core products to include portfolio expansion, monetization of innovative assets, and global expansion. In the first half of 2026, the company achieved non-IFRS net profit of RMB 97.23 million, while IFRS net loss narrowed by 98% year-on-year. Everest ended the period with RMB 1.859 billion in cash. Following the reporting period, the company received approximately RMB 770 million in July from the upfront payment under its global licensing and collaboration agreement for civorebrutinib, further strengthening its financial position and capacity to invest in future growth. Mr. Yifang Wu, Chairman of the Board of Everest Medicines, said: “Everest Medicines has entered a new phase of development as an innovation-driven, integrated biopharmaceutical company. Guided by our 2030 Strategy, we are strengthening our capabilities in innovation, commercialization, and global development, accelerating the realization of global value and laying a stronger foundation for sustainable, high-quality growth.” During the period, the company achieved profitability, while expanding its innovative pipeline and advancing its R&D programs. Through continued efforts to strengthen its BD capabilities, the company is developing a model that combines in-licensed and internally developed early-stage assets, exemplified by civorebrutinib (also known as EVER001), with internal incubation and development creating opportunities to out-license innovative assets and realize their value. At the same time, the company is bringing in high-quality mid- to late-stage assets, exemplified by NEFECON(R), while continuing to build its commercialization capabilities and generate further opportunities for BD partnerships. These efforts are enhancing the efficiency of innovation resource allocation and accelerating the translation of innovation into clinical and commercial value. Everest’s marketed portfolio continued to gain momentum NEFECON(R) maintained strong sales momentum. In the first half of 2026, sales revenue from NEFECON(R) reached RMB 889 million, with net sales increasing 94% year-on-year. Through deeper penetration across key hospitals, broader market expansion, enhanced physician and patient education, and continued generation of real-world evidence, Everest is supporting broader adoption of treatment strategies focused on addressing underlying causes, early intervention, and long-term management. Following approval, VELSIPITY(R) moved rapidly into commercialization, with local manufacturing progressing. XERAVA(R) delivered steady hospital sales growth, while local manufacturing advanced as planned. The company also reached an understanding with Hainan Herui Pharmaceutical Co., Ltd. regarding certain NEFECON(R)-related patent matters and entered into a commercialization collaboration for budesonide enteric capsules, further broadening treatment options for patients. Meanwhile, commercialization services for Hasten Biopharmaceuticals continued to contribute to revenue growth. Services for mature products under the CSO arrangement commenced in March 2026, generating RMB 145 million in service revenue and RMB 28 million in commercialization profit in the first half of the year. Mr. Rogers Yongqing Luo, Chief Executive Officer of Everest Medicines, said: “In the first half of 2026, the company continued to execute its strategy and accelerate the translation of innovation into clinical and commercial value. Solid progress across commercialization, BD, in-house R&D, and global expansion further strengthened our foundation for sustainable growth and our ability to bring innovative therapies to patients. Our BD strategy is building a diversified portfolio of future growth drivers through global partnerships for internally developed assets and selective in-licensing of differentiated innovative assets, while our in-house R&D continues to generate clinical progress. With the establishment of a pan-Asia-Pacific commercialization platform, we are also extending our proven capabilities from China into other Asian markets.” EVER001 global licensing deal expected to accelerate overseas development In June, the company entered into an exclusive licensing and collaboration agreement with Travere Therapeutics, Inc. (NASDAQ: TVTX) for the development and commercialization of civorebrutinib (also known as EVER001) in all markets outside China and certain countries in East and Southeast Asia. The deal has a total potential value of up to $1.1425 billion, including an upfront payment of $112.5 million and up to approximately $1.03 billion in additional cash payments tied to specified clinical development, regulatory and commercial milestones across up to five indications. Travere will also pay tiered royalties on future sales in its licensed territories, ranging from high single-digit to double-digit percentages based on annual net sales thresholds. CICC believes the partnership is expected to accelerate the global clinical development and commercialization of EVER001 and could advance its development in membranous nephropathy. BOCOM International is positive on EVER001’s overseas market potential and its development opportunities across additional indications. EVER001 achieved positive 52-week Phase 1b/2a clinical results, and a Phase 2 basket trial has been initiated in China to further evaluate its potential in autoimmune kidney diseases, including FSGS, MCD, and IgAN. BD expansion further strengthens the product pipeline The company continued to selectively introduce mid- to late-stage assets with strong commercial potential. MT1013, DMX-200, and Bejescin(R) strengthened its nephrology and autoimmune portfolio; CARDAMYST(R) and Sumecigrel (formerly known as Vicagrel) further expanded its cardiovascular portfolio; and LNZ100, together with VIS-101, enhanced its ophthalmology portfolio. With multiple assets moving through key regulatory and commercialization milestones, the company is building a diversified portfolio of future growth drivers. CARDAMYST(R) is expected to receive approval in the third quarter of 2026, LEROCHOL(R) and LNZ100 are expected to receive approval in 2027, and MT1013 is expected to receive approval in 2028. In-house R&D and pan-Asia-Pacific expansion advance The company’s in-house R&D also translated into clinical progress. The company’s proprietary AI+mRNA platform also advanced, with its personalized mRNA cancer vaccine EVM16 achieving its first-in-human clinical data readout and planned to enter an investigator-initiated Phase 1b study in the fourth quarter of 2026. EVM18, the company’s in vivo CAR-T therapy, has initiated IIT studies across multiple autoimmune diseases and is advancing toward global IND filings. The acquisition of Hasten Biopharmaceuticals (SG) Pte. Ltd. further strengthened the company’s global commercialization capabilities and established a pan-Asia-Pacific commercialization platform. The platform provides a foundation for scaling the company’s proven commercialization capabilities from China across Asian markets, supporting the regional expansion of both existing and future products. Meanwhile, CBC Group and the company’s Directors have collectively purchased 5.163 million shares since December 2025, with the transactions totaling more than HK$172.5 million, demonstrating their confidence in the company’s strategic direction and long-term prospects. Overall, Everest Medicines is gradually developing a growth model built on the commercialization of core products, portfolio expansion through BD, a pipeline of innovative assets generated through in-house R&D, and international expansion through global partnerships and its pan-Asia-Pacific platform. As the company enters its new phase, the coordinated strengthening of its capabilities in innovation resource integration, commercialization, and global development is expected to provide an important foundation for future growth.