China's Sinopharm COVID-19 Vaccine Shows 79.34% Efficacy

China's Sinopharm Group SHTDY said Wednesday its COVID-19 vaccine candidate BBIBP-CorV — developed in partnership with Beijing Biological Products Institute Co. Ltd — shows 79.34% efficacy, Reuters reports.

What Happened: Beijing Biological Products Institute's vaccine efficacy rate is based on interim results from Phase 3 clinical trials but the firm did not give further details. In October, the Lancet had published data from the company's Phase 1/2 clinical trials.

Reuters notes that Beijing Biological has applied to the National Medical Products Administration for conditional approval of BBIBP-CorV, which would allow limited use of the vaccine among the general public in China.

Leading COVID-19 vaccine candidates that have received conditional approval in the U.S. showed higher efficacy rates; 94.1% for Moderna Inc's MRNA mRNA-1273, 95% for Pfizer Inc PFE/BioNTech SE's BNTX BNT162b2. 

AstraZeneca plc's AZN AZD1222 COVID-19 vaccine candidate, developed in partnership with Oxford University, showed efficacy between 70% and 90%.

Price Action: SHTDY shares closed at $11.53 on Tuesday.