Shares of Everest Medicines plummeted 5.05% in early trading after the company released its interim results for the first half of 2025. Despite reporting a 48% year-over-year increase in revenue to RMB446.1 million, investors appeared disappointed by supply constraints that impacted sales of the company's key product NEFECON in the first half.

While Everest Medicines saw its net loss narrow significantly to RMB249.8 million from RMB632.4 million a year earlier, the company noted that NEFECON revenue was "artificially low" in H1 due to production delays. However, management expressed confidence in full-year NEFECON sales reaching RMB1.2-1.4 billion following the resolution of supply issues in August.

The sharp stock decline suggests the market had higher expectations for Everest's H1 performance or is taking a cautious view on the company's ability to meet its ambitious full-year targets. With a solid cash position of RMB1.59 billion, investors will be closely watching whether Everest can accelerate NEFECON sales in the second half to achieve its guidance.