Shares of EVEREST MED (01952) extended their gains sharply in the afternoon session, with the stock climbing 17.24% to HK$36.46 at the time of writing, on trading volume of HK$831.8 million.

The company released its interim results, reporting first-half revenue of RMB 1.148 billion, a year-on-year increase of 157%, while adjusted profit reached RMB 97 million, marking a turnaround from a loss in the prior period. During the reporting period, the firm's commercial operations continued to unlock growth potential.

Revenue from the core product Nefecon hit RMB 889 million, with pure sales up 94% year-on-year, as hospital coverage and patient numbers continued to expand. Analysts at Soochow Securities noted that the first successful Phase III trial of Merck/Moderna's mRNA cancer vaccine signals the sector's transition from concept to realization.

Meanwhile, CITIC Construction Investment highlighted that EVEREST MED possesses an end-to-end mRNA technology platform, leveraging AI algorithms to build a competitive edge, with a pipeline featuring the personalized cancer vaccine EVM16 and the off-the-shelf vaccine EVM14.