Everest Medicines (HKEX: 01952) saw its stock price plummet by 5.09% during Wednesday's trading session, following the release of its financial results for the full year ended December 31, 2024. Despite reporting significant revenue growth, the biopharmaceutical company's continued net loss appears to have dampened investor sentiment.

The company announced a total revenue of RMB 706.7 million for 2024, representing a remarkable 461% year-over-year increase and slightly exceeding its revenue guidance of RMB 700 million. This growth was primarily driven by the successful launch of NEFECON in mainland China and strong performance of XERAVA. Everest Medicines also reported achieving commercial-level profitability for the full year of 2024.

However, the company still posted a net loss of RMB 1,041.4 million for the year. While this represents an improvement from the previous year, as the company's non-IFRS net loss narrowed by 25%, the continued losses may have raised concerns among investors about the company's path to overall profitability. The market reaction suggests that investors may have had higher expectations or harbor concerns about the sustainability of the company's growth trajectory in the face of ongoing losses.