Everest Medicines Posts 48% Revenue Growth in H1 2025
Everest Medicines announced its interim results for the first half of 2025, reporting total revenue of RMB 446 million, a 48% year-over-year increase. The company expects to achieve positive operating cash flow in Q4.
Everest Medicines (1952.HK) announced its interim results for the six months ended June 30, 2025. The company reported total revenue of RMB 446 million, marking a 48% increase from the previous year. Operating expenses as a percentage of revenue decreased by 40.1 percentage points, indicating improved operational efficiency.
The non-IFRS loss narrowed by 31%, with a gross margin excluding non-cash items at 76.4%. As of June 30, 2025, the company maintained cash reserves of RMB 1.6 billion. A share placement on August 1 generated net proceeds of HK$1.553 billion, further bolstering its financial position for commercialization and R&D.
The company's core product, NEFECON(R), a treatment for IgA nephropathy (IgAN), demonstrated strong performance with an 81% year-over-year revenue growth, reaching RMB 303 million in the first half. Everest Medicines reiterated its full-year revenue guidance of RMB 1.6 to 1.8 billion and anticipates achieving positive operating cash flow in the fourth quarter.
Everest Medicines is accelerating its transformation through a "dual-engine" strategy integrating commercialization and R&D. The company anticipates the impending approval of etrasimod (VELSIPITY(R)) in China in the first half of 2026, which is expected to significantly support its future commercialization efforts.