On September 8, EVEREST MED rose 5.05% in regular trading, reaching HKD 32.82/share, with turnover of HKD 140 million. The rally follows the company's announcement that China's National Medical Products Administration (NMPA) has approved Star Bi Tuo (etripamil nasal spray) for treating acute episodes of paroxysmal supraventricular tachycardia (PSVT) in adults.

Star Bi Tuo is a novel, rapid-acting calcium channel blocker delivered via portable nasal spray, enabling patient self-administration outside hospital settings. It can begin working as early as 5 minutes after dosing, with nearly two-thirds of patients converting to normal sinus rhythm within 30 minutes. The approval was based on the global Phase III RAPID study and the China Phase III JX02002 study, both meeting primary endpoints. Results from the RAPID study were published in The Lancet. Star Bi Tuo was previously approved by the U.S. FDA in December, making it the first and only innovative therapy approved for adult PSVT acute episodes in over 30 years.

This marks EVEREST MED's first approved product in the cardiovascular field, further expanding its commercial portfolio. The approval also triggered a USD 2 million milestone payment to Milestone Pharmaceuticals, with up to USD 98 million in additional milestones and up to 18% royalties under the licensing agreement.

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