The stock of CanSino Biologics, based in Tianjin, rose by 7% on Monday after the Chinese government authorized the company’s inhalable COVID-19 vaccine.
The company announced to the Hong Kong Stock Exchange on Sunday that the National Medical Products Administration had approved the vaccine for emergency use as a booster.
Monday morning, the stock price of the company shot up 14% after the news broke, and it finished the day up 7.1% from its opening price.
The business has announced that a nebulizer will be used to administer the needle-free vaccination, which has the advantage of being easier to store and administer than intramuscular shots.
If the vaccine is later purchased and utilized by appropriate government entities, “the approval will have a beneficial influence on the company’s performance,” the statement continued.
The firm did not provide information about when the adenovirus-vectored vaccine would be made available to the general public.
The effectiveness of the new vaccination is not supported by any publicly available, vetted, or peer-reviewed evidence.
The inhalable COVID-19 vaccine is now being tested by researchers in the United States, Canada, and Cuba.
Since the year 2020, China has approved eight different injectable vaccinations made domestically.
However, the country’s medication administrator has not yet given the go-ahead for any imported vaccines, including the more effective mRNA shots made by Pfizer/BioNTech or Moderna.
Travel and commerce have been severely impacted by China’s decision to maintain a zero-COVID policy.
Ahead of a crucial political summit next month, officials around the country are under pressure to contain local viral outbreaks.
More than 21 million people in the southwestern metropolis of Chengdu are undergoing mass testing from Monday through Wednesday, while the southern tech powerhouse of Shenzhen, with more than 18 million residents, enforced a weekend lockdown in most parts of the city on Saturday.
On Monday, the National Health Commission announced that China has given more than 3.4 billion COVID doses without providing information on the vaccination coverage.
Mahnur is MS(development Studies)Student at NUST University, completed BS Hons in Eng Literature. Content Writer, Policy analyst, Climate Change specialist, Teacher, HR Recruiter.
