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Everest Medicines Ltd. ( (HK:1952) ) has provided an update.
Everest Medicines’ China subsidiary has entered into an exclusive licensing agreement with Shaanxi Micot Pharmaceutical Technology to commercialize MT1013, a first-in-class dual-targeting receptor agonist for secondary hyperparathyroidism, across China and most Asia-Pacific markets excluding Japan. Under the deal, Everest will pay RMB200 million upfront and up to RMB1.04 billion in potential milestone payments, while Micot will cover ongoing development expenses, and the drug—already in Phase III trials in China—could expand into additional chronic kidney disease-related indications; management expects the collaboration to significantly strengthen Everest’s renal portfolio, broaden its coverage of chronic kidney diseases, and reinforce its competitive positioning in a rapidly growing SHPT market projected to reach RMB14.1 billion in China by 2035.
The most recent analyst rating on (HK:1952) stock is a Hold with a HK$40.00 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 focused on renal and autoimmune diseases in Asia, developing and commercializing innovative therapies with a particular emphasis on nephrology and chronic kidney-related conditions, including immunoglobulin A nephropathy. The company aims to build a leading position in these therapeutic areas across Greater China and the broader Asia-Pacific region through strategic licensing and partnerships.
Average Trading Volume: 3,556,078
Technical Sentiment Signal: Sell
Current Market Cap: HK$13.29B
For detailed information about 1952 stock, go to TipRanks’ Stock Analysis page.