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An update from Everest Medicines Ltd. ( (HK:1952) ) is now available.
Everest Medicines Limited has announced a strategic investment by subscribing to 15,846,154 American depositary shares of I-Mab, a U.S.-based biotech company specializing in precision immuno-oncology agents. This investment, valued at approximately US$30.9 million, allows Everest to hold a 16.1% stake in I-Mab, enhancing its presence in the U.S. market and complementing its existing investments in mRNA cancer vaccines. The acquisition is expected to leverage I-Mab’s clinical capabilities in the U.S. and synergize with Everest’s strong presence in Asia, potentially strengthening its industry positioning and offering new opportunities for stakeholders.
The most recent analyst rating on (HK:1952) stock is a Hold with a HK$48.32 price target. To see the full list of analyst forecasts on Everest Medicines Ltd. stock, see the HK:1952 Stock Forecast page.
More about Everest Medicines Ltd.
Everest Medicines Limited is a biopharmaceutical company that focuses on the discovery, licensing, clinical development, commercialization, and manufacturing of novel therapies to address unmet medical needs globally. Since its inception in 2017, the company has developed a portfolio of first-in-class or best-in-class products and clinical candidates, with three launched products: NEFECON, XERAVA, and VELSIPITY, and further approvals anticipated in the next two years.
Average Trading Volume: 7,095,495
Technical Sentiment Signal: Buy
Current Market Cap: HK$20.94B
For a thorough assessment of 1952 stock, go to TipRanks’ Stock Analysis page.