On October 2, EVEREST MED fell 6.7% at open, trading at HK$28.12/share, with turnover of HK$28,100. The decline came as the stock pulled back after surging 7.72% in the previous trading session on September 30, when it was lifted by a broad rally across innovative drug and mRNA concept stocks.
The prior session's gains were driven by sector-wide momentum as multiple catalysts converged, including bullish institutional outlooks on innovative drugs and their supply chains, as well as heightened interest in mRNA cancer vaccine developments ahead of the ESMO conference. EVEREST MED had closed at HK$30.14 on September 30 after rising alongside peers such as GenScript Biotech, CSPC Pharmaceutical, and CanSino Biologics.
Within the Biotechnology sector, the overall tone was weak at open. Among individual stocks, BEONE MEDICINES fell 5.68%, INNOVENT BIO fell 3.93%, HENLIUS rose 0.68%, SKB BIO rose 2.67%, and REMEGEN was flat, reflecting broad profit-taking pressure across the sector following the recent rally.
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