China's CanSino Biologics Inc. shares were trading in Hong Kong late Tuesday at HK$295.80 ($38.16) - down 0.34% from the issue's closing price Monday - following news of advances with its virus vaccine.
Meanwhile, the company's paper rose more than 15% overnight on the U.S. over-the-counter market to $37.70 from a Monday close of $32.65.
CanSinoBIO says it has met safety and efficacy requirements under a provisional evaluation of its final stage clinical test data for its COVID-19 vaccine.
No serious effects from the vaccine were discovered and the findings of the Independent Data Monitoring Committee showed CanSinoBIO could continue to advance its experimental treatment known as Convidecia, the company said.
Third-stage trials have started in Russia, Pakistan, Chile, Argentina and Mexico. A clinical study is also planned in Saudi Arabia.
The third-stage trial saw more than 40,000 participants given the vaccine in 78 clinical test locations, a notice CanSinoBIO sent to the Global Times said.
CanSinoBIO is expected to obtain initial data from its final stage clinical tests worldwide this week, the notice said.
CanSinoBIO developed Convidecia with the Beijing Institute of Biotechnology. It is a vector viral vaccine. Vector viral means a harmless virus brings nonclonable surface proteins of the SARS-CoV-2 pathogen to cells and triggers an immune reaction there.
Treatments developed by Russia in its Sputnik vaccine and AstraZeneca plc and Johnson & Johnson use a similar approach.
Unlike inactivated vaccines, CanSinoBIO's vaccine has been proven to work with one dose and can simultaneously provide two layers of protection - humoral and cellular immunity.
Two other vaccines are currently being developed in China. They are from the biotech companies Sinovac Biotech Ltd. and China National Pharmaceutical Group Corp., known as Sinopharm.
