Hong Kong · Delayed Price · Currency is HKD Everest Medicines Earnings Call Transcripts
Fiscal Year 2026
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Revenue surged 157% year-on-year to RMB 1.15 billion, with non-IFRS net profit turning positive and strong growth in NEFECON and XERAVA sales. The company advanced its R&D pipeline, expanded its commercial platform, and maintained robust cash reserves.
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Travere will lead civorebrutinib development in licensed territories, with PMN as the lead indication and other immune-mediated kidney diseases under evaluation. H2 2026 and 2027 milestones include vaccine studies and a targeted U.S. CAR T IND filing.
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The company is driving dual-engine growth through in-house R&D and in-licensing, with strong commercial execution in China. Nefecon leads sales growth, while new deals and innovative platforms in mRNA and BTK inhibitors support long-term expansion.
Fiscal Year 2025
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Strong revenue growth driven by Nefecon and expanding antibacterial portfolio, with supply constraints resolved and robust sales guidance for 2025–2026. VELSIPITY and SIBO advance toward regulatory milestones, while mRNA and CAR T platforms progress in clinical development.
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EVER001 reduced anti-PLA2R antibodies and proteinuria, with stronger responses in the 200 mg BID cohort. Safety was described as favorable, and global pivotal development planning is underway.
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Significant progress was reported on a proprietary mRNA platform, with the first patient dosed in a personalized cancer vaccine trial and IND submissions for an off-the-shelf TAA vaccine. The pipeline, including an in vivo CAR-T program, is advancing toward key 2024 milestones.
Fiscal Year 2024
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Revenue surged 461% year-over-year to RMB 706.7 million, driven by Nefecon and XERAVA launches, with gross margin at 83% and non-IFRS net loss narrowing by 25%. Nefecon’s NRDL inclusion and strong pipeline progress position the company for continued growth.
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EVER001, a novel reversible covalent BTK inhibitor, showed strong efficacy and safety in a phase I-B/II-A trial for primary membranous nephropathy, achieving high rates of immunological and clinical remission with favorable tolerability. Plans are underway for global phase II/III studies and broader renal indications.
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Revenue surged 158% in H1 2024, driven by XERAVA and NEFECON launches, with gross margin at 83% and non-IFRS loss narrowing by 35%. The company is on track for RMB 700 million full-year revenue, advancing mRNA and renal pipelines, and maintaining a strong cash position.
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Focused on renal and infectious diseases, leveraging in-licensing and internal R&D, with Nefecon’s launch targeting a large, underserved patient base. Commercial execution is strong in both renal and anti-infective portfolios, while mRNA innovation advances toward clinical milestones.
Fiscal Year 2023
Fiscal Year 2022
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NEFECON’s China NDA was filed in November 2022, with approval and launch targeted for H2 2023 and reimbursement targeted for 2025. Plans also emphasized commercial buildout, access, and renal pipeline development.