CanSino rallies 76% on the promise of inhaled COVID-19 vaccine
Nov. 02, 2022 12:53 PM ETCanSino Biologics Inc. (CASBF)SFOSF, SHJBFBy: Dulan Lokuwithana, SA News Editor
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- Vaccine maker CanSino Biologics Inc. (OTCPK:CASBF) added ~76% on Wednesday after the company announced that more Chinese would follow Shanghai in deploying its inhaled COVID-19 vaccine.
- The Tianjin-based company said in its official social media account that 13 Chinese cities in Jiangsu province, including Wuxi, Huai'an, and Yangzhou, are rolling out the vector-based non-invasive vaccine option.
- Hopes of a potential improvement in vaccination rates also led to the rally amid speculation that China was considering a gradual reopening of the country.
- CanSino (OTCPK:CASBF) shares in Hong Kong closed ~63% higher on the news, while rival COVID-19 vaccine makers Shanghai Fosun Pharmaceutical Group Co Ltd. (OTCPK:SFOSF) and Shanghai Junshi Biosciences Co Ltd. (OTCPK:SHJBF) also gained.
- In September, CanSino (OTCPK:CASBF) announced that regulators in China authorized its inhaled COVID-19 vaccine Convidecia Air as a booster dose.