What’s new: Shares of CanSino Biologics Inc. (688185.SH) jumped Friday after the World Health Organization gave the company’s single-dose Covid-19 vaccine, Convidecia, approval for emergency use around the world.
CanSino’s shares closed up 12.14% in Shanghai and 9.78% in Hong Kong.
The context: Convidecia is the 11th Covid-19 vaccine to get validated by the WHO, and the third developed by a Chinese company to receive global emergency use approval.
The WHO has also given the approval to the inactivated Covid vaccines made by Sinovac Biotech Ltd. and China National Pharmaceutical Group Co. Ltd., better known as Sinopharm.
The WHO said CanSino’s viral vector vaccine was 64% effective at preventing symptomatic cases of Covid-19 and 92% effective at preventing severe cases.
CanSinoBIO is also developing an inhalable version of the vaccine.
Chinese regulators have given Convidecia the green light to be used in China, boosting the Tianjin-based company’s bottom line. In the first quarter of 2022, the company’s net profit attributable to shareholders rose nearly tenfold from the same period last year.
Related: BioNTech’s Covid Vaccine Safety Trial in China Completed Four Months Ago, Registry Shows
Contact reporter Guo Yingzhe (yingzheguo@caixin.com) and editor Michael Bellart (michaelbellart@caixin.com)
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