HK Stock Market Move | EVEREST MED (01952) rises over 7%, bringing in two former core Moderna scientists; global clinical development of its proprietary mRNA platform is expected to accelerate.

EVEREST MED (01952) rose over 7%, up 6.21% as of press time, at HK$32.52, with a turnover of HK$288 million. On the news front, while most US tech stocks faced a cold reception overnight, the pharmaceutical sector bucked the trend. Among them, Moderna, the "first stock of cancer vaccines," saw its share price hit a new high since January 4, 2022. In August this year, Moderna and Merck's personalized mRNA cancer vaccine achieved positive Phase III clinical results, proving the feasibility of mRNA in tumor treatment and prompting the capital market to reassess the value of the sector. Founders believe that EVEREST MED's self-developed pipeline is the closest to Moderna's R&D path, and its self-developed mRNA-related pipelines all hold global rights, making it a rare comparable target. It is worth noting that on October 9 this year, EVEREST MED announced the appointment of two former senior scientists from Moderna's cancer vaccine team Dr. Lakshmi Srinivasan as Senior Vice President and Head of Translational Medicine, and Dr. Brandon Coder as Vice President of Translational Science and Early Research. Both were core members of intismeran (mRNA-4157/V940), and the global clinical development of the company's proprietary mRNA platform is expected to accelerate.