Everest Medicines (HKG: 1952), a Chinese pharmaceutical firm, has received commitments from its controlling shareholder CBridge Capital and executive directors Luo Yongqing and He Ying not to reduce their holdings for at least six months, according to a statement submitted to the Hong Kong Stock Exchange. This pledge reflects their confidence in the company’s business prospects and long-term development.
Previously, Everest Medicines issued a forecast projecting revenues of RMB 700 million (USD 97.2 million) for 2023. The company is on track to launch Nefecon (sustained-release budesonide), which is positioned as the world’s first etiological treatment for IgA nephropathy, in China. Additionally, Everest Medicines is working towards marketing approval for its Velsipity (etrasimod) in Macau, with expectations that this will facilitate access in mainland China under the Greater Bay Area policies. A market filing for Velsipity in mainland China is anticipated shortly. The company is also preparing for the clinical trials of its mRNA-based cancer therapeutic vaccine, which is expected to commence later this year.
In line with the listing rules of the Hong Kong Stock Exchange (Article 10.07), there is a restriction on the sale of shares by controlling shareholders following a new listing: Controlling shareholders are prohibited from selling their beneficially owned securities within six months after new shares are listed.- Flcube.com
