On July 15, Everest Medicines rose 6.67% in regular trading, trading at HK$29.46/share, with turnover of HK$65.34 million. The stock was buoyed by a combination of company-specific catalysts and broad sector strength.
On the news front, Everest Medicines announced on July 8 the completion of its exclusive licensing and collaboration agreement with Travere Therapeutics for EVER001 (civorebrutinib), a BTK inhibitor targeting multiple immune-mediated kidney diseases. The deal involves a US$112.5 million upfront payment and up to US$1.03 billion in milestone payments, marking a key milestone in the company's global commercialization strategy. The transaction has now formally entered the implementation phase for joint development.
Meanwhile, the broader biotechnology sector exhibited strong momentum on the same day, with SKB Bio up 11.0%, Innovent Bio up 9.11%, Akeso up 8.82%, and 3SBio up 9.03%, providing additional sector-driven tailwinds to Everest Medicines' share price.
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