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Sinovac Biotech

Sinovac Biotech Ltd is a China-based biopharmaceutical company that focuses on research, development, manufacturing and commercialization of vaccines that protect against human infectious diseases including, without limitation, hepatitis A, hepatitis B, hand foot and mouth disease (HFMD) caused by EV71, seasonal influenza, H5N1 and H1N1 pandemic influenza, coronavirus, pneumococcus, poliomyelitis, varicella and mumps.

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Key Takeaways:


	News of marketing approval for China’s first mRNA vaccine falls flat with investors, who worry the drug is being rushed to market before Phase 3 trials are complete
	As the pandemic abates, the market for the vaccine is shrinking rapidly


By Ellie Si

CSPC Pharma Wins China&#39;s mRNA Vaccine Race, But Just Not Fast Enough

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COVID-19 cases have spiked again in China, sparking fresh lockdown measures in the nation&#39;s capital. Jim Cramer has suggested that Chinese President Xi Jinping isn&#39;t telling the whole story. 

Jim Cramer Says China&#39;s Vaccines &#39;Don&#39;t Work&#39; But Xi Won&#39;t Admit It

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Here&#39;s a roundup of top developments in the biotech space over the last 24 hours:

Biotech Daily: Merck&#39;s Two Combo Cancer Trials Miss Main Goal, Approval For Sinovac&#39;s COVID-19 Shot For Youngest Kids, Alnylam Aces Protein Disorder Trial

Sinovac Biotech, Ltd. - Ordinary Shares (Antigua/Barbudo)

Sinovac Biotech Ltd

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Sinovac Biotech Kicked Off The Enrollment For A Phase 3 Trial On A Vaccine Candidate To Prevent Hand-Foot-Mouth Disease Caused By Both Enterovirus 71 And Coxsackievirus 16

SINOVAC H1 EPS $(0.11) Down From $(0.15) YoY; Sales $121.3M Down From $140.4M YoY

Sinovac Biotech Ltd. (&quot;SINOVAC&quot; or the &quot;Company&quot;) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SVA#NASDAQ">SVA</a>), a leading provider of biopharmaceutical products in China, announced that the Company has completed the phase I clinical trial for its broad-spectrum neutralizing antibody product, the Anti-COVID-19 Antibody SA55 Injection (&quot;SA55 Injection&quot;) in Beijing and has entered the phase II clinical trial in Shanghai after successfully enrolling its first participant recently.
SINOVAC&#39;s SA55 Injection, which is intended for the treatment of COVID-19 infections, was approved for clinical trial in China on May 24, 2023. The phase I clinical trial has confirmed its preliminary safety profile in 40 healthy adults aged 18 to 65 in China.
The phase II clinical trial is a multicenter, randomized, double-blind, placebo-controlled study. It is expected to enroll 150 patients aged 18 and above with mild to moderate COVID-19 infection from nearly 20 medical institutions in China. Participants will be randomly assigned to groups receiving different dosages of SA55 Injection or placebo to evaluate its ability to decrease SARS-CoV-2 virus loads and alleviate clinical symptoms, while assessing its safety. Preliminary results are anticipated by the year&#39;s end.

SINOVAC Updates on the Clinical Trial Progress of its Anti-COVID-19 Antibody SA55 Injection

Sinovac Biotech Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SVA#NASDAQ">SVA</a>) (&quot;SINOVAC&quot; or the &quot;Company&quot;), a leading provider of biopharmaceutical products in China, announced today that its Board of Directors (the &quot;Board of Directors&quot;) unanimously determined that the partial tender offer (the &quot;Tender Offer&quot;) by Alternative Liquidity Index LP (&quot;Alternative Liquidity&quot;) to acquire up to 10,000,000 common shares of Sinovac (the &quot;Shares&quot;) for&nbsp;$0.03&nbsp;per share in cash (the &quot;Offer Price&quot;) is&nbsp;NOT&nbsp;advisable and is&nbsp;NOT&nbsp;in the best interests of the Company or its shareholders (&quot;Shareholders&quot;). Accordingly, the Board of Directors recommends that the Shareholders reject the Tender Offer and not tender their Shares for purchase pursuant to the Offer to Purchase by Alternative Liquidity.

Sinovac Biotech Board Unanimously Rejects an Unsolicited Partial Tender Offer from Alternative Liquidity Index To Acquire up to 10M Shares of Sinovac Biotech for $0.03/Share in Cash

Sinovac Biotech Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SVA#NASDAQ">SVA</a>) (&quot;SINOVAC&quot; or the &quot;Company&quot;), a leading provider of biopharmaceutical products in China, confirmed today that it is aware of an unsolicited partial tender offer from Alternative Liquidity Index LP to purchase up to a maximum of 10,000,000 shares of the Company, representing approximately&nbsp;10.05%&nbsp;of the Company&#39;s outstanding shares, for&nbsp;$0.03&nbsp;per share in cash.

Alternative Liquidity Index Offers To Acquire up to 10M Shares of Sinovac Biotech for $0.03/Share in Cash

<h4>Key Takeaways:</h4>
<ul>
<li>News of marketing approval for China&rsquo;s first mRNA vaccine falls flat with investors, who worry the drug is being rushed to market before Phase 3 trials are complete</li>
<li>As the pandemic abates, the market for the vaccine is shrinking rapidly</li>
</ul>
By Ellie Si
Timing is everything, so the saying goes, and it&rsquo;s certainly true for the maker of China&rsquo;s first domestically developed mRNA vaccine against Covid.
CSPC Pharmaceutical Group Ltd.&nbsp;(1093.HK) announced last week it had gained regulatory&nbsp;<a href="https://www1.hkexnews.hk/listedco/listconews/sehk/2023/0322/2023032200185.pdf">approval</a>&nbsp;to market its new Covid vaccine, beating a host of rivals to become the first commercial producer of a Chinese-made mRNA drug. The company also reported a revenue rise for last year. Under different circumstances the news would have triggered a market rally, but the share price plunged instead.
Coming at the tail end of the pandemic rather than at its height, the emergency-use approval for the mRNA vaccine fell flat with investors, who were worried about the speed at which the drug was being brought to market.
The day after the news, the stock plummeted 7.3% to HK$7.74, shrinking the company&rsquo;s market valuation to barely HK$90 billion ($11.5 billion).
The level of pandemic risk is a key factor. Most Chinese have already been immunized with other anti-Covid vaccines. Meanwhile, the government removed strict pandemic controls last December and has since reported no major outbreaks. The scope for the vaccine market is contracting rapidly, leaving investors pessimistic about the profit prospects.
CSPC is a major Chinese pharmaceutical company with a range of products in development production or sales. The company&rsquo;s website describes 36 products for various diseases that have generated sales of more than 100 million yuan ($14.5 million).
When it announced the vaccine approval, CSPC Pharma also published&nbsp;<a href="https://www1.hkexnews.hk/listedco/listconews/sehk/2023/0322/2023032200225.pdf">annual results</a>&nbsp;showing that its revenue grew 11% to 30.9 billion yuan last year. The figure included 24.5 billion yuan in revenue from the business of finished drugs, which was up by 8.1%, and 4.45 billion yuan related to its bulk products, a rise of 16.5%.
<h4>Less Than A&nbsp;Year In Clinical Trials</h4>
The main earners are treatments for neurological conditions and cancers. Neurological drugs made up the biggest revenue share at 8.11 billion yuan, 7.5% more than the previous year, while revenue from cancer drugs dropped 3.8% to 7.42 billion yuan.
The company boasts many product pipelines that keep sending new drugs to market. Last year, it introduced a drug to treat T-cell lymphoma and another for follicular lymphoma. In addition, several of its generic drugs have been selected for the government&rsquo;s procurement program. The company has thus diversified its revenue streams and better balanced its product portfolio.
But investors have paid most attention to the Covid mRNA vaccine, SYS6006, which has become the first such domestically developed jab to be cleared for use in China. This type uses a lab-developed messenger RNA method to instruct cells to make specific antibodies, unlike vaccines that use a deactivated form of a virus.
The CSPC vaccine entered clinical trials in April 2022 with approval from China&rsquo;s National Medical Products Administration (NMPA). It raced through Phase 1 and 2 clinical trials in a matter of months, and was judged to be effective and safe in protecting against Covid infections.
The trials also probed the effects of having an mRNA injection after doses of other Covid vaccines.
Most of the vaccines administered in China were based on inactivated forms of the virus, using products developed by&nbsp;Sinopharm&nbsp;(1099.HK) and&nbsp;Sinovac&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/sva#NASDAQ">SVA</a>), as well as an adenovirus vector vaccine from&nbsp;CanSino Biologics&nbsp;(6185.HK; 688185.SH). Therefore, tests to determine the booster impact of an mRNA vaccine were particularly significant.
The company said 4,000 booster trial sessions were conducted during the pandemic with recombinant protein vaccines as the control and an observation period of 28 days. The CSPC Pharma vaccine was shown to have a protection effect of 70.2% seven to 28 days after injection, rising to 85.3% after 14 to 28 days. And researchers found that an mRNA injection after two or three doses of other inactivated-virus vaccines can better fight variants such as Omicron.
<h4>Demand Weakens As Pandemic Abates</h4>
However, the fast progress has caused concerns among investors. Firstly, the vaccine is yet to complete larger scale Phase 3 clinical trials. Even if it is proven to be highly effective, the vaccine enters a shrinking market now that the pandemic has retreated across the world.
In technology terms, mRNA is the cutting edge of immunization. Covid mRNA vaccines made by&nbsp;Pfizer&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/pfe#NYSE">PFE</a>) in partnership with&nbsp;BioNTech&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/bntx#NASDAQ">BNTX</a>), or by drugmaker&nbsp;Moderna&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/mrna#NASDAQ">MRNA</a>), were successfully marketed during the pandemic. Pfizer&rsquo;s mRNA vaccine contributed $37.8 billion to its 2022 revenue, nearly 40% of the total.
The mRNA vaccines sold overseas are still not available in mainland China. In 2020,&nbsp;Fosun Pharma&nbsp;(2196.HK; 600196.SH) paid tens of millions of dollars to BioNTech for the exclusive right to develop and commercialize the Covid vaccine Comirnaty in China. But after three years the vaccine is still only available in Hong Kong, Macau and Taiwan.
That explains why many Chinese companies joined a gold rush to develop mRNA vaccines. Abogen Biosciences, an early competitor, got more $700 million and $300 million in two rounds of fundraising in 2021, sending its valuation above $20 billion.
So far this year, CanSino,&nbsp;Walvax Biotechnology&nbsp;(300142.SZ) and Sinopharm have also reported progress in developing Covid mRNA vaccines. But CSPC Pharma is the first contender to bring its vaccine to market. Though late out of the starting blocks, it crossed the approval finishing line less than a year after launching clinical trials.
But even the winners cannot dodge the rapidly contracting market for Covid vaccines.
Trailblazer Pfizer, which reported more than $100 billion in revenue last year, has cut its forecast for this year to between $67 billion and $71 billion on an expected drop in Covid-related income. The Chinese vaccine producer CanSino already reported a loss last year due to the slowdown in the Covid vaccine market, and its share price has fallen by more than 90% from the HK$450 peak in 2021.
The marketing approval for CSPC Pharma&rsquo;s mRNA vaccine is a breakthrough for China&rsquo;s domestic drug industry. But the achievement was ultimately outpaced by the pandemic, which has now passed its peak, limiting the money-making potential for Covid vaccines.

CSPC Pharma Wins China's mRNA Vaccine Race, But Just Not Fast Enough

Sinovac Biotech Board Amends Shareholder Rights Plan, Extends Expiration Date From February 22, 2023 To February 22, 2024

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Benzinga's Top Ratings Upgrades, Downgrades For January 5, 2023

COVID-19 cases have spiked again in China, sparking&nbsp;fresh lockdown measures in the nation&#39;s capital.&nbsp;Jim Cramer has suggested that Chinese President&nbsp;Xi Jinping&nbsp;isn&#39;t telling the whole story.&nbsp;
&quot;I don&#39;t know what&#39;s with President Xi other than the fact that it would be a terrible admission that their vaccines don&#39;t work,&quot; Cramer said Tuesday on CNBC&#39;s &quot;Squawk On The Street.&quot;
What To Know:&nbsp;<a href="https://www.benzinga.com/topic/covid-19" target="_blank">COVID-19</a>&nbsp;cases have been rising in multiple districts throughout China.&nbsp;On Monday, Beijing&nbsp;officials&nbsp;urged residents of the Chaoyang district&nbsp;to stay at home, extending a request from the weekend.&nbsp;The Haizhu district in&nbsp;Guangzhou also extended its <a href="https://www.benzinga.com/topic/covid-19">COVID-19</a> restrictions in some areas to Nov. 27, according to local reports.
Beijing, the capital of China,&nbsp;reported more than <a href="https://www.benzinga.com/markets/asia/22/11/29815850/alibaba-nio-fall-over-3-hang-seng-opens-weaker-as-focus-turns-to-fed-minutes-china-covid-19-cases">600&nbsp;new&nbsp;COVID cases</a> on Tuesday. Several reports indicate that Beijing&nbsp;will require individuals to show&nbsp;a negative PCR test&nbsp;within the last 48 hours&nbsp;to enter public venues&nbsp;like&nbsp;shops,&nbsp;hotels&nbsp;and government offices.&nbsp;
See Also:&nbsp;<a href="https://www.benzinga.com/markets/asia/22/11/29815850/alibaba-nio-fall-over-3-hang-seng-opens-weaker-as-focus-turns-to-fed-minutes-china-covid-19-cases">Alibaba, Nio Fall Over 3%: Hang Seng Opens Weaker As Focus Turns To Fed Minutes, China COVID-19 Cases</a>
The new restrictions come&nbsp;after Beijing reported three COVID-related deaths over the weekend, its first deaths reportedly caused by the virus since May.&nbsp;
&quot;Can they tell the truth about anything? Three. I mean three people die like every 10 seconds of COVID,&quot; Cramer said.&nbsp;
For some perspective, the U.S. has reported more than 1 million deaths due to COVID-19 since the start of the pandemic.&nbsp;The current seven-day average of new deaths is&nbsp;317, according to the CDC.
Cramer suggested the numbers out of China are wrong and&nbsp;the&nbsp;<a href="https://www.benzinga.com/coronavirus-covid-19">continued spikes</a> in COVID cases and subsequent lockdown measures show that the situation isn&#39;t under control.&nbsp;It&#39;s time for China to start using the vaccines that actually work, Cramer said.&nbsp;
Why It Matters: CoronaVac is the most&nbsp;widely used COVID-19 vaccine in China. It&#39;s&nbsp;made&nbsp;by Beijing-based firm&nbsp;Sinovac Biotech&nbsp;Ltd (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/sva#NASDAQ">SVA</a>). The only other approved vaccine in China&nbsp;comes from&nbsp;state-owned Sinopharm Group Co Ltd (Pink: <a class="ticker" href="https://www.benzinga.com/stock/shtdy#Pink">SHTDY</a>).&nbsp;
The WHO&nbsp;approved the vaccines&nbsp;for emergency use&nbsp;on&nbsp;limited clinical-trial data in mid-2021, showing that CoronaVac was about 50% effective and Sinopharm was just below 80% effective.&nbsp;
For comparison, data for&nbsp;Pfizer&nbsp;Inc (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/pfe#NYSE">PFE</a>) and&nbsp;BioNTech SE&#39;s (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/bntx#NASDAQ">BNTX</a>) COVID-19 vaccine, as well as Moderna Inc&#39;s (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/mrna#NASDAQ">MRNA</a>) mRNA vaccine, showed&nbsp;more than 90% efficacy on approval.
&quot;I mean they <a href="https://www.benzinga.com/general/biotech/22/10/29114210/moderna-says-no-to-chinas-request-to-handover-covid-19-vaccine-technology-report">reverse engineered</a> the Pfizer vaccine, the mRNA vaccine, they have it. I do not understand why they won&#39;t give it to everybody,&quot; Cramer said.
He noted&nbsp;that Xi has the <a href="https://www.benzinga.com/general/biotech/22/09/28861480/ceo-says-capacity-available-to-supply-covid-19-shots-to-the-most-populated-country">ability to end</a> the continued COVID-19 problems in China, but&nbsp;suggested that pride might be getting in the way.&nbsp;
&quot;So I don&#39;t know how much longer this lockdown nonsense is going to continue because it&#39;s really up to him,&quot; he said.
Check This Out:&nbsp;<a href="https://www.benzinga.com/news/22/11/29816257/tesla-china-demand-not-budging-ev-maker-reportedly-mulls-another-price-cut-as-order-intake-remains-a">Tesla China Demand Not Budging? EV Maker Reportedly Mulls Another Price Cut As Order Intake Remains Anemic</a>
Photo:&nbsp;<a href="https://www.flickr.com/photos/30478819@N08/" id="yui_3_16_0_1_1668095854203_835566" title="Go to Marco Verch Professional Photographer's photostream">Marco Verch</a>&nbsp;from Flickr.

Jim Cramer Says China's Vaccines 'Don't Work' But Xi Won't Admit It

Sinovac Biotech Ltd. (&quot;SINOVAC&quot; or the &quot;Company&quot;) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SVA#NASDAQ">SVA</a>), a leading provider of biopharmaceutical products in China, today announced that it received prequalification from the World Health Organization (WHO) for its live attenuated varicella vaccine on November 3, 2022. This marks the first WHO prequalified Chinese varicella vaccine and the fourth SINOVAC vaccine to receive WHO approval.
The varicella vaccine is derived from the Oka strain and propagated in SINOVAC&#39;s proprietary Human Diploid Cell (SV-1 strain), which is made by culturing and harvesting the virus, adding stabilizers and freeze-drying.
According to a phase III efficacy study, the seroconversion rate of the vaccinated children group, ages 1 to 12 years old, was&nbsp;97.1%; the efficacy of the vaccine was&nbsp;87.1%&nbsp;against varicella and&nbsp;89.2%&nbsp;for breakthrough varicella. The vaccine provides&nbsp;100%&nbsp;protection against moderate and severe cases.
Mr. Weidong Yin, Chairman, President and CEO of Sinovac, commented, &quot;Now that SINOVAC has received WHO prequalification for our varicella vaccine, we can provide a new weapon for prevention and control of infectious diseases globally. In the future, we will continue to work on more clinical trials, registrations and approvals for vaccines worldwide, to offer the world high-quality vaccines and ensure the accessibility and affordability of these public goods.&quot;
Previously, three other vaccines by SINOVAC were also approved by WHO in various uses and conditions, including Healive&reg; (the hepatitis A vaccine), CoronaVac&reg; (the COVID-19 vaccine) and the Sabin-strain inactivated polio vaccine.
SINOVAC has been acting on its mission to &quot;Supply Vaccines to Eliminate Human Diseases&quot;. So far, SINOVAC&#39;s vaccines have been distributed to more than 80 countries and regions around the world. The Company offers high-quality and affordable vaccines for global prevention and control of infectious diseases.

Reported Late Thursday, Sinovac Biotech's Varicella Vaccine Prequalified By WHO

Sinovac Biotech Ltd. (&ldquo;SINOVAC&rdquo; or the &ldquo;Company&rdquo;) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SVA#NASDAQ">SVA</a>), a leading provider of biopharmaceutical products in China, announced that the Chilean Public Health Institute (Instituto de Salud P&uacute;blica, ISP) approved a phase II clinical trial for its inactivated Omicron strain COVID-19 vaccine and trivalent COVID-19 vaccine (ancestral, Delta and Omicron variants) on August 31st. The clinical trial will evaluate the immunogenicity and safety of one booster dose of the two candidate vaccines in adults who had received two booster doses of CoronaVac&reg;, mRNA, or adenovirus vector COVID-19 vaccine. This study is the world&#39;s first study researching multivalent inactivated COVID-19 vaccine.
In this phase II randomized, double-blind, multicenter clinical trial, 826 fully vaccinated adults will be recruited. Participants belonging to the heterologous scheme are individuals who had received two CoronaVac&reg; doses, and two boosters of mRNA-based or viral vector-based vaccines, while participants of the homologous scheme had received four doses of CoronaVac&reg;. Individuals from the heterologous scheme will randomly receive a booster dose with the Omicron, Trivalent, or CoronaVac&reg; vaccines, while individuals from the homogeneous group will randomly receive a booster dose of the Omicron or the trivalent vaccines.
Mr. Weidong Yin, the Chairman, President, and CEO of SINOVAC said, &ldquo;SINOVAC has made great progress collaborating with global partners in the development and manufacturing of the COVID-19 vaccine. We are proud of the fact that CoronaVac&reg; can protect individuals as young as 6 months of age and this clinical approval will allow even better vaccine protection.&rdquo;

SINOVAC Approved to Initiate Clinical Trial for Its Omicron Containing COVID-19 Vaccine in Chile

Here&#39;s a roundup of top developments in the biotech space over the last 24 hours:
<h1>Stocks In Focus</h1>
<h3>Alnylam Reports Upbeat Data From&nbsp;Amyloidosis Study</h3>
Alnylam Pharmaceuticals Inc&#39;s&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/alny#NASDAQ">ALNY</a>) APOLLO-B Phase 3 study of patisiran for transthyretin-mediated (ATTR) amyloidosis with cardiomyopathy&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/pressreleases/22/08/b28327147/alnylam-reports-positive-topline-results-from-apollo-b-phase-3-study-of-patisiran-in-patients-with" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">met the primary endpoint</a>&nbsp;of change from baseline in the 6-Minute Walk Test (6-MWT) at 12 months compared to placebo.&nbsp;
The study also met the first secondary endpoint of change from baseline in quality of life compared to placebo.
Patisiran also demonstrated an encouraging safety and tolerability profile, with deaths numerically favoring the patisiran arm.
The company plans to file a supplemental marketing application with the FDA in late 2022.
Shares are up 45.8% at $207.00 during the premarket session.
<h3>Sinovac&#39;s COVID-19 Shot Approved For Kids Below 3 Years&nbsp;</h3>
The&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/pressreleases/22/08/b28325998/sinovac-covid-19-vaccine-approved-for-use-in-children-above-6-months-of-age-in-hong-kong" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">regulatory authority in Hong Kong has approved</a>&nbsp;Sinovac Biotech Ltd&#39;s&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/sva#NASDAQ">SVA</a>) COVID-19 vaccine (CoronaVac), intended for children aged six months to 3 years.
Three doses of vaccines will be used, with the first two doses given 28 days apart, followed by a third dose at least three months after the second dose.
<h3>FDA Approves Coherus&#39; Lucentis Referenced Biosimilar</h3>
The&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/pressreleases/22/08/g28323062/fda-approves-coherus-cimerli-ranibizumab-eqrn-as-the-first-and-only-interchangeable-biosimilar-to-" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">FDA has approved</a>&nbsp;Coherus BioSciences Inc&#39;s&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/chrs#NASDAQ">CHRS</a>) Cimerli (ranibizumab-eqrn) as a biosimilar product interchangeable with&nbsp;Roche Holding AG&#39;s&nbsp;(OTC: <a class="ticker" href="https://www.benzinga.com/stock/rhhby#OTC">RHHBY</a>) Lucentis for five retina indications.
Cimerli belongs to the anti-VEGF therapy class of biologics.
Commercial availability of Cimerli, in both 0.3 and 0.5 mg dosages, is planned for early October 2022.
<h3>Rigel Pharma Expanded Hematology-Oncology Portfolio With License Pact</h3>
Rigel Pharmaceuticals Inc&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/rigl#NASDAQ">RIGL</a>) and&nbsp;Forma Therapeutics Inc&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/fmtx#NASDAQ">FMTX</a>)&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/pressreleases/22/08/n28318934/rigel-pharmaceuticals-and-forma-therapeutics-announce-licensing-agreement-for-olutasidenib-a-novel" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">entered into an exclusive, worldwide license agreement</a>&nbsp;to develop, manufacture and commercialize olutasidenib.
Forma will receive an upfront payment of $2.0 million and is eligible to receive an additional $17.5 million as near-term regulatory, approval, and first commercial sale milestones.&nbsp;
In addition, Forma is eligible to receive up to an additional $215.5 million in development and commercial milestones.&nbsp;
<h3>Merck&#39;s Two Keytruda Combo Cancer Trials Miss Primary Goal</h3>
Merck &amp; Co Inc&#39;s&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/mrk#NYSE">MRK</a>) Phase 3 KEYNOTE-921 trial of Keytruda combined with chemotherapy (docetaxel)&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/pressreleases/22/08/b28326745/merck-provides-update-on-phase-3-keynote-921-trial-evaluating-keytruda-pembrolizumab-plus-chemothe" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">did not meet its dual primary endpoints</a>&nbsp;of overall survival (OS) and radiographic progression-free survival (rPFS) for metastatic castration-resistant prostate cancer.
Separately, Merck and&nbsp;Eisai Co Ltd&#39;s&nbsp;(OTC: <a class="ticker" href="https://www.benzinga.com/stock/esaly#OTC">ESALY</a>) Phase 3 LEAP-002 trial of Keytruda plus Lenvima&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/pressreleases/22/08/b28326822/merck-and-eisai-provide-update-on-phase-3-leap-002-trial-evaluating-keytruda-pembrolizumab-plus-le" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">did not meet its dual primary endpoints</a>&nbsp;of OS and PFS in unresectable hepatocellular carcinoma.
<h3>Regenxbio Plans To File Application For Hunter Syndrome Gene Therapy In 2024</h3>
Regenxbio Inc&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/rgnx#NASDAQ">RGNX</a>) intends to&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/pressreleases/22/08/n28327343/regenxbio-announces-intention-to-file-a-biologics-license-application-using-the-accelerated-approv" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">file a marketing application in 2024</a>&nbsp;using the FDA&#39;s accelerated approval pathway for RGX-121 for Mucopolysaccharidosis Type II, known as Hunter Syndrome.&nbsp;
The company also announced that a pivotal program for RGX-121 is active and enrolling patients. RGX-121 is an investigational, one-time AAV Therapeutic using the NAV AAV9 vector to deliver the gene that encodes the iduronate-2-sulfatase enzyme.
Also Read:&nbsp;<a href="https://www.benzinga.com/news/22/08/28325892/top-questions-tesla-shareholder-want-musk-team-to-address-at-thursdays-annual-shareholder-meeting">Top Questions Tesla Shareholder Want Musk, Company Leaders To Address At Thursday&#39;s Annual Shareholder Meeting</a>
<h3>Poseida Shares Rally As Roche Takes Next Big Step Into Allogeneic CAR-T Field</h3>
Poseida Therapeutics Inc&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/pstx#NASDAQ">PSTX</a>) has entered into a&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/pressreleases/22/08/n28328119/poseida-therapeutics-announces-strategic-global-collaboration-with-roche-focused-on-allogeneic-car" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">strategic collaboration and license agreement</a>&nbsp;with&nbsp;Roche Holdings AG&nbsp;(OTC: <a class="ticker" href="https://www.benzinga.com/stock/rhhby#OTC">RHHBY</a>), focused on developing allogeneic CAR-T therapies directed to hematologic malignancies.&nbsp;
Under the agreement, Roche will receive from Poseida either exclusive rights or options to develop and commercialize several allogeneic CAR-T programs in Poseida&#39;s portfolio.
Poseida will receive $110 million upfront and could receive up to $110 million in near-term milestones.
In addition, Poseida is eligible to receive up to $6 billion in milestone payments.
PSTX shares are up 73.7% at $4.22 during the premarket session.
<h3>Offering</h3>
Arcutis Biotherapeutics Inc&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/arqt#NASDAQ">ARQT</a>) priced its underwritten public offering of 7.5 million at $20 per share, with gross proceeds of $150.
Kintara Therapeutics Inc&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ktra#NASDAQ">KTRA</a>) entered into an equity purchase agreement for up to $20 million with Lincoln Park Capital Fund, LLC
Shares surged 119% to 39 cents during the premarket session.
<h3>On The Radar</h3>
<h3>PDUFA Dates</h3>
Sanofi SA&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/sny#NASDAQ">SNY</a>) and&nbsp;Regeneron Pharmaceuticals Inc&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/regn#NASDAQ">REGN</a>): Supplemental application for Dupixent (dupilumab) for eosinophilic esophagitis (EoE) in patients 12 years and above.
<h3>Earnings</h3>
United Therapeutics Corporation&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/uthr#NASDAQ">UTHR</a>):&nbsp;Before the market open.
Eyepoint Pharmaceuticals Inc&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/eypt#NASDAQ">EYPT</a>):&nbsp;Before the market open.
Seres Therapeutics Inc&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/mcrb#NASDAQ">MCRB</a>):&nbsp;Before the market open.
Intercept Pharmaceuticals Inc&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/icpt#NASDAQ">ICPT</a>):&nbsp;Before the market open.
Editas Medicine Inc&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/edit#NASDAQ">EDIT</a>):&nbsp;Before the market open.
Horizon Therapeutics PLC&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/hznp#NASDAQ">HZNP</a>):&nbsp;Before the market open.
Amarin Corporation plc&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/amrn#NASDAQ">AMRN</a>):&nbsp;Before the market open.
Regeneron Pharmaceuticals Inc&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/regn#NASDAQ">REGN</a>):&nbsp;Before the market open.
Moderna Inc&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/mrna#NASDAQ">MRNA</a>):&nbsp;Before the market open.
Jazz Pharmaceuticals PLC&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/jazz#NASDAQ">JAZZ</a>): After market close.
Arcus Biosciences Inc&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/rcus#NYSE">RCUS</a>): After market close.
Mirati Therapeutics Inc&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/mrtx#NASDAQ">MRTX</a>): After market close.
Regenxbio Inc&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/rgnx#NASDAQ">RGNX</a>): After market close.
Fate Therapeutics Inc&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/fate#NASDAQ">FATE</a>): After market close.
Vanda Pharmaceuticals Inc&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/vnda#NASDAQ">VNDA</a>): After market close.
Biomarin Pharmaceutical Inc&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/bmrn#NASDAQ">BMRN</a>): After market close.

Biotech Daily: Merck's Two Combo Cancer Trials Miss Main Goal, Approval For Sinovac's COVID-19 Shot For Youngest Kids, Alnylam Aces Protein Disorder Trial

Sinovac Biotech Ltd. (&quot;SINOVAC&quot; or the &quot;Company&quot;) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SVA#NASDAQ">SVA</a>), a leading provider of biopharmaceutical products in China, announced that based on related clinical trials and studies of vaccination for local children and adolescents, the Health Bureau of the Government of the Hong Kong Special Administrative Region of the People&#39;s Republic of China has approved the Company&#39;s COVID-19 vaccine (CoronaVac), intended for children aged 6 months to 3 years.
The vaccination schedule for this age group follows the same vaccination schedule of older children. Three doses of vaccines will be used for children aged six months to under three years of age, with the first two doses given 28 days apart followed by a third dose at least 3 months after the second dose, and there is no restriction on the application for immunosuppressed children.
The Scientific Committee on Vaccine Preventable Diseases and the Scientific Committee on Emerging and Zoonotic Diseases under the Centre for Health Protection of the Department of Health, joined by the Chief Executive&#39;s expert advisory panel, issued the&nbsp;<a href="https://cts.businesswire.com/ct/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.info.gov.hk%2Fgia%2Fgeneral%2F202208%2F01%2FP2022080100675.htm&amp;esheet=52800068&amp;newsitemid=20220803005368&amp;lan=en-US&amp;anchor=consensus+interim+recommendations&amp;index=1&amp;md5=2af7a18e037cfafde400e189da96e2da">consensus interim recommendations</a>&nbsp;on the use of COVID-19 vaccines for children aged 6 months or above in Hong Kong on August 1, 2022.
SINOVAC initiated its COVID-19 vaccine (CoronaVac) phase III clinical studies among children aged 6 months to 17 years since 2021. Preliminary results show the vaccine has a good safety and immunogenicity profile, with no severe adverse reaction reported 6 months after two doses of vaccination among children aged 6 months to 35 months.
CoronaVac has been authorized for emergency use for minors and adults above 3 years old in Hong Kong since February 15, 2022. As of August 2022, CoronaVac has been approved for use in minors in 14 countries in Latin America that include Chile, Colombia, Ecuador, Brazil, as well as in other countries in the Asia and Africa regions.
&nbsp;

SINOVAC COVID-19 Vaccine Approved For Use In Children Above 6 months Of Age in Hong Kong

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Citigourp Global Markets 2% Protected Notes Linked To The Djia

Shares of Chinese companies are trading lower after President Xi held an economic meeting yesterday and did not indicate an economic growth stimulus was imminent. China also reiterated the 'zero-COVID policy'

<ul>
<li>COVID-19 vaccines from&nbsp;AstraZeneca Plc&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/azn#NASDAQ">AZN</a>) and&nbsp;Pfizer Inc&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/pfe#NYSE">PFE</a>) saved an estimated 12 million lives,&nbsp;<a class="editor-rtfLink" href="https://www.bloomberg.com/news/articles/2022-07-13/astra-s-covid-vaccine-saved-over-six-million-lives-in-first-year#xj4y7vzkg?sref=TBDibEcD" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Bloomberg reported</a>&nbsp;citing a new analysis from Airfinity Ltd.</li>
<li>The AstraZeneca vaccine developed by the University of Oxford saved 6.3 million lives, Airfinity said. The estimate for the Pfizer-BioNTech SE (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/bntx#NASDAQ">BNTX</a>) shot was 5.9 million.&nbsp;</li>
<li>According to the report, the companies swiftly scaled up production and delivered doses before other manufacturers.&nbsp;</li>
<li>The findings build on a study last month estimating that vaccines saved about 20 million lives in the first year, mostly in wealthier countries.</li>
<li>More than 7 million deaths were likely averted in countries covered by Covax, the World Health Organization-backed distribution program highlighting the uneven access.&nbsp;</li>
<li>The data shows that about one in five lives lost due to Covid in poorer countries could have been prevented if WHO targets had been reached.</li>
<li>Airfinity determined that the vaccines of&nbsp;Sinovac Biotech Ltd&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/sva#NASDAQ">SVA</a>) and&nbsp;Moderna Inc&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/mrna#NASDAQ">MRNA</a>) saved about 2 million and 1.7 million lives, respectively.</li>
<li>Photo by Johaehn from Pixabay</li>
</ul>

AZNCF

Which COVID-19 Vaccine(s) Significantly Prevented Deaths - Read To Find Out

<h3>Upgrades</h3>
For Crocs Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CROX#NASDAQ">CROX</a>), Loop Capital upgraded the previous rating of Hold to Buy. For the first quarter, Crocs had an EPS of $2.05, compared to year-ago quarter EPS of $1.49. At the moment, the stock has a 52-week-high of $183.88 and a 52-week-low of $46.08. Crocs closed at $47.95 at the end of the last trading period. 
According to Macquarie, the prior rating for Live Nation Entertainment Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LYV#NYSE">LYV</a>) was changed from Neutral to Outperform. Live Nation Entertainment earned $0.39 in the first quarter, compared to $1.44 in the year-ago quarter. The stock has a 52-week-high of $127.75 and a 52-week-low of $74.23. At the end of the last trading period, Live Nation Entertainment closed at $83.06. 
According to Wells Fargo, the prior rating for Excelerate Energy Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EE#NYSE">EE</a>) was changed from Equal-Weight to Overweight. The stock has a 52-week-high of $30.82 and a 52-week-low of $18.40. At the end of the last trading period, Excelerate Energy closed at $19.16. 
For Antero Resources Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AR#NYSE">AR</a>), Truist Securities upgraded the previous rating of Hold to Buy. Antero Resources earned $1.15 in the first quarter, compared to $0.62 in the year-ago quarter. The stock has a 52-week-high of $48.80 and a 52-week-low of $10.91. At the end of the last trading period, Antero Resources closed at $30.74. 
<a href="https://pro.benzinga.com/blog/how-to-understand-option-alerts/">See all analyst ratings upgrades.</a>
<h3>Downgrades</h3>
According to Fox Advisors, the prior rating for Micron Technology Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MU#NASDAQ">MU</a>) was changed from Overweight to Equal-Weight. For the third quarter, Micron Technology had an EPS of $2.59, compared to year-ago quarter EPS of $1.88. The current stock performance of Micron Technology shows a 52-week-high of $98.45 and a 52-week-low of $51.40. Moreover, at the end of the last trading period, the closing price was at $53.65. 
For PerkinElmer Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PKI#NYSE">PKI</a>), Evercore ISI Group downgraded the previous rating of Outperform to In-Line. For the first quarter, PerkinElmer had an EPS of $2.41, compared to year-ago quarter EPS of $3.72. The current stock performance of PerkinElmer shows a 52-week-high of $203.16 and a 52-week-low of $132.78. Moreover, at the end of the last trading period, the closing price was at $144.07. 
For NovoCure Ltd (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVCR#NASDAQ">NVCR</a>), Evercore ISI Group downgraded the previous rating of In-Line to Underperform. In the first quarter, NovoCure showed an EPS of $0.04, compared to $0.04 from the year-ago quarter. At the moment, the stock has a 52-week-high of $207.47 and a 52-week-low of $56.39. NovoCure closed at $73.30 at the end of the last trading period. 
According to Evercore ISI Group, the prior rating for HP Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HPQ#NYSE">HPQ</a>) was changed from Outperform to In-Line. HP earned $1.08 in the second quarter, compared to $0.93 in the year-ago quarter. At the moment, the stock has a 52-week-high of $41.47 and a 52-week-low of $26.11. HP closed at $31.87 at the end of the last trading period. 
Truist Securities downgraded the previous rating for Aveanna Healthcare Holdings Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AVAH#NASDAQ">AVAH</a>) from Buy to Hold. Aveanna Healthcare Hldgs earned $0.04 in the first quarter, compared to $0.08 in the year-ago quarter. The stock has a 52-week-high of $12.54 and a 52-week-low of $2.09. At the end of the last trading period, Aveanna Healthcare Hldgs closed at $2.37. 
According to Morgan Stanley, the prior rating for Talaris Therapeutics Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TALS#NASDAQ">TALS</a>) was changed from Overweight to Equal-Weight. Talaris Therapeutics earned $0.45 in the first quarter, compared to $1.30 in the year-ago quarter. The stock has a 52-week-high of $17.48 and a 52-week-low of $2.04. At the end of the last trading period, Talaris Therapeutics closed at $2.30. 
For Zenvia Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ZENV#NASDAQ">ZENV</a>), Goldman Sachs downgraded the previous rating of Buy to Neutral. At the moment, the stock has a 52-week-high of $20.02 and a 52-week-low of $1.84. Zenvia closed at $2.15 at the end of the last trading period. 
<a href="https://pro.benzinga.com/blog/how-to-understand-option-alerts/">See all analyst ratings downgrades.</a>
<h3>Initiations</h3>
With a Neutral rating, Roth Capital initiated coverage on Monster Beverage Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MNST#NASDAQ">MNST</a>). The price target seems to have been set at $100.00 for Monster Beverage. Monster Beverage earned $0.55 in the first quarter, compared to $0.59 in the year-ago quarter. At the moment, the stock has a 52-week-high of $99.89 and a 52-week-low of $71.78. Monster Beverage closed at $94.59 at the end of the last trading period. 
For SAP SE (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SAP#NYSE">SAP</a>), Berenberg initiated coverage, by setting the current rating at Buy. For the first quarter, SAP had an EPS of $1.12, compared to year-ago quarter EPS of $1.69. At the moment, the stock has a 52-week-high of $151.48 and a 52-week-low of $88.96. SAP closed at $90.70 at the end of the last trading period. 
With an Outperform rating, Raymond James initiated coverage on Symbotic Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SYM#NASDAQ">SYM</a>). The price target seems to have been set at $18.00 for Symbotic. At the moment, the stock has a 52-week-high of $28.48 and a 52-week-low of $9.12. Symbotic closed at $11.89 at the end of the last trading period. 
HC Wainwright &amp; Co. initiated coverage on Sinovac Biotech Ltd (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SVA#NASDAQ">SVA</a>) with a Buy rating. The price target for Sinovac Biotech is set to $6.00. None 
With a Buy rating, Needham initiated coverage on Symbotic Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SYM#NASDAQ">SYM</a>). The price target seems to have been set at $18.00 for Symbotic. At the moment, the stock has a 52-week-high of $28.48 and a 52-week-low of $9.12. Symbotic closed at $11.89 at the end of the last trading period. 
JP Morgan initiated coverage on Teradyne Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TER#NASDAQ">TER</a>) with a Neutral rating. The price target for Teradyne is set to $120.00. Teradyne earned $0.98 in the first quarter, compared to $1.11 in the year-ago quarter. The current stock performance of Teradyne shows a 52-week-high of $168.91 and a 52-week-low of $84.22. Moreover, at the end of the last trading period, the closing price was at $85.80. 
<a href="https://pro.benzinga.com/blog/how-to-understand-option-alerts/">See all analyst ratings initiations.</a>

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Benzinga's Top Ratings Upgrades, Downgrades For July 5, 2022

<h4>Key&nbsp;Takeaways:</h4>
<ul>
<li>CanSino&rsquo;s Covid-19 vaccine Convidecia will be admitted to the global Covax program following its approval by the WHO</li>
<li>The approval could have limited benefits for the company as the pandemic fades and other products are widely available</li>
</ul>
By Jony Ho
As the Covid-19 pandemic recedes and countries start to reopen, the World Health Organization (WHO) has just granted an emergency-use license to yet another Chinese vaccine. But the timing looks just a tad on the late side, and thus may not provide a very big boost for&nbsp;CanSino Biologics Inc.&nbsp;(6185.HK; 688185.SH).
All that goes to show that timing is everything in the cutthroat world of drug development &ndash; even more so when the entire world is racing to find treatments and cures for a single malady.
CanSino&nbsp;<a href="https://www1.hkexnews.hk/listedco/listconews/sehk/2022/0520/2022052000051.pdf">announced</a>&nbsp;last Friday that its recombinant Covid vaccine Convidecia obtained emergency-use authorization from the WHO, becoming the third Chinese vaccine to get the green light from the global health body after two rival products from&nbsp;Sinopharm&nbsp;and&nbsp;Sinovac&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/sva#NASDAQ">SVA</a>), which both use inactivated virus.
The WHO issued a&nbsp;<a href="https://www.who.int/news/item/19-05-2022-who-validates-11th-vaccine-for-covid-19">statement</a>&nbsp;affirming that CanSino&rsquo;s vaccine had a 64% efficacy rate for preventing symptomatic Covid infections and was 92% effective at preventing Covid-related severe conditions. The&nbsp;WHO&rsquo;s Technical Advisory&nbsp;Group for&nbsp;Emergency Use Listing concluded that benefits of the vaccine far outweighed its risks.
Having secured the license, the vaccine can now be admitted to the Covid-19 Vaccines Global Access (Covax) program, a mechanism overseen by the WHO, UNICEF and the Vaccine Alliance, charged with accelerating the development and production of Covid vaccines and ensuring equal access for all countries. The initiative can purchase large quantities of vaccines from pharmaceutical companies on behalf of a big group of countries, and allocate doses according to their populations. It has provided 2 billion WHO-approved doses to date.
<h4>Good for the bottom line</h4>
The WHO&rsquo;s approval was good medicine for CanSino&rsquo;s Hong Kong-listed stock, which rose as much as 20% the next trading day and ultimately closed up 9.8% at HK$78. Its mainland China-listed A-shares rose by the daily limit and were suspended after surging by 12.1%.
Founded in 2009 as a vaccine maker, CanSino went public in Hong Kong in March 2019 and listed on the Nasdaq-style STAR Market in Shanghai in August 2020, making it the first &ldquo;A+H vaccine stock.&rdquo; By the end of last year, it had 17 vaccines in development for 12 diseases.
The development of Convidecia and its wide distribution in China and many other countries lit a fire under CanSino&rsquo;s business last year. Its revenue rose by an astounding factor of 231 to 4.3 billion yuan ($640 million) for the year, including 3.06 billion yuan in overseas revenue. That helped the company turn a 1.91 billion yuan profit for the year, reversing years of losses.
Unlike many vaccines developed by foreign pharmaceutical companies such as&nbsp;Pfizer&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/pfe#NYSE">PFE</a>) and&nbsp;Moderna(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/mrna#NASDAQ">MRNA</a>), Convidecia is one of the few Covid vaccines that require just a single shot and minimal cold storage. The vaccines can be preserved in a 2-8 degree Celsius (36-46 degree Fahrenheit) environment for at least three months, making them easy to transport and store. That makes them better suited for subtropical developing countries such as Indonesia, Malaysia, Chile and Mexico.
Since the company was already doing quite well overseas, why is the market suddenly so excited about the WHO approval? Sinovac&rsquo;s experience might provide some clues. Its Covid-19 vaccine was included in Covax last June, and a total of 380 million doses have been purchased by the program since then. The company has provided more than 2.7 billion doses globally, which includes China. More than 2.3 billion of those doses have been administered, mostly in developing countries like Brazil, Chile, Turkey and Indonesia, which had a hard time gaining access to vaccines previously.
As its Covax sales soared, Sinovac recorded $19.38 billion in revenue&nbsp;<a href="https://www.statista.com/statistics/1304534/annual-revenue-of-sinovac/">last year</a>, a surge of 36.9 times the level from 2020. Its net profit soared by an even larger 77 times to $14.5 billion. The share of its revenue from China dwindled from 71.6% in 2020 to 56.3% in 2021, reflecting the success of its vaccine abroad. Though it&rsquo;s difficult to quantify how much it benefited from having its vaccine included in Covax, the company&rsquo;s remarkable vaccination record overseas suggests that the benefits are large.
<h4>Diminishing returns with passage of time</h4>
But in CanSino&rsquo;s case, the timing of the WHO approval may be somewhat late since demand for vaccines has dropped considerably with the pandemic receding and many countries already vaccinating large parts of their populations, said Francis Lun, CEO of GEO Securities.
He pointed out that CanSino&rsquo;s vaccine targets the original Covid strain and is not very effective against the more infectious Omicron variant. Moreover, 10 pharmaceutical companies, both Chinese and foreign, obtained the WHO&rsquo;s nod before CanSino. In addition, more effective mRNA vaccines developed by Pfizer and Moderna are the most popular. &ldquo;If you are the first to get the license, then the outlook is undoubtedly wonderful. But being the 11th to get there, CanSino can expect very little,&rdquo; Lun said.
Some shareholders may have capitalized on the announcement to sell off their shares and pocket some profits. Two big transactions occurred on Monday before the Hong Kong market opened involving 9.43 million shares with a trading price of HK$70.50, around 10% lower than last Friday&rsquo;s close. The stock closed down 9.6% on Monday, wiping out the Friday gains.
But CanSino isn&rsquo;t stopping with the WHO approval, and continues to work on other Covid vaccines. It announced on Monday that the latest research results&nbsp;<a href="https://www.globaltimes.cn/page/202205/1266365.shtml">published</a>&nbsp;in the international medical journal Lancet for its inhaled Covid-19 vaccine showed good safety performance, lower adverse reaction rate than inactive vaccines and the ability to generate more neutralizing antibodies. The company will actively pursue emergency use or conditional marketing authorization for the vaccine both at home and abroad.
In addition, CanSino&rsquo;s self-developed mRNA vaccine was&nbsp;<a href="https://www1.hkexnews.hk/listedco/listconews/sehk/2022/0404/2022040400031.pdf">approved</a>&nbsp;for clinical trials in China last week. That vaccine has been shown to induce neutralizing antibodies targeting multiple types of variants. A successful launch would make the company one of the few in China able to develop its own mRNA vaccines.
In terms of valuation, CanSino&rsquo;s has a price-to-earnings (P/E) ratio of 8.7 times, following a 60% decline in its stock since early this year.&nbsp;Fosun Pharma&nbsp;(2196.H), a Chinese company with exclusive distribution rights for&nbsp;BioNTech&rsquo;s(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/bntx#NASDAQ">BNTX</a>) mRNA vaccines in mainland China, Hong Kong, Macao and Taiwan, has a P/E ratio roughly double that at 16.4 times.&nbsp;Chongqing Zhifei Biological&nbsp;(300122.SZ), whose Covid vaccines have been approved for use in China and some other Asian countries, also has a higher P/E ratio of 13.2 times. Judging from valuation alone, investors seems cautious on CanSino&rsquo;s prospects and are watching closely to see how things will unfold now that its vaccine has been included in Covax.

CanSino's Covid Vaccine Gets WHO Nod. But Is It Too Little, Too Late?

Investors kept a close look at China&rsquo;s solar and wind power stocks last year, but were least interested in the hobbled education sector
By Bamboo Works team
Chinese concept stocks experienced unprecedented challenges in the Year of the Ox. The small and mid-sized companies covered by Bamboo Works were no exception, also coming under intense pressure. Looking past their stock prices and financial reports, how did these companies perform in terms of media and investor attention? Which companies stood out despite all the pressures? Our special report highlights such trends using our objective large database of statistics.
1. Category of the Year
We calculated click rates on thebambooworks.com and Seeking Alpha for more than 500 Bamboo Works stories in 2021 and compared the aggregate number of visits for each category against the average. From this, we can see new energy got the most attention.
<img alt="" src="https://www.benzinga.com/files/u469346/1-460x480.png" style="height:480px; width:460px" />
Attention was average for our consumer and e-commerce categories. Based on that benchmark, attention to new energy stories was 3.2 times higher than the average. Conversely, attention to education stories was 3.3 times lower than the average during the unprecedented crisis for that whole category.
&ldquo;New energy was the hottest category among those that we cover last year, no puns intended,&rdquo; said Doug Young, co-founder and editor-in-chief of Bamboo Works. &ldquo;People are looking to China to become a world leader in everything from electric cars to solar panels. Meantime, education was the big loser, as Beijing took steps to relieve the pressure on overworked students from companies offering after-school tutoring.&rdquo;
Also noteworthy was the social and entertainment category&rsquo;s ranking, which was behind only finance and new energy. This shows which Chinese companies in related fields may have the greatest potential for future development at home and abroad.
2. Stories of the Year
We also calculated the 10 most read stories in 2021. Not surprisingly, news from the new energy, finance, and social/entertainment sectors occupied most spots in this ranking.
<img alt="" src="https://www.benzinga.com/files/u469346/2-417x480.png" style="height:480px; width:417px" />
Big names like Jinko, Canadian Solar, Daqo, Goldwind and TuSimple represented the new energy category&rsquo;s huge influence.
Zhiwen Group, which owns dating apps Momo and Tantan, was the only social media representative in the top 10, single-handedly raising the attention level of global investors toward the entire category. Yalla&rsquo;s story ranked close to the top 10. Although Chinese people are not very familiar with it, this foreign-focused social media company with a Chinese founding team represents another route for Chinese enterprises to go global.
Emerging companies such as ATRenew and Cango have also attracted investor attention.
3. The most influential Chinese concept stocks
We ranked individual stocks by their influence based on the aggregate number of story views. In the ticker cloud above, the bigger the font, the more influential the stock was. From it, you can see the 50 small and mid-cap Chinese stocks with the most global influence. These stocks represent the huge potential for Chinese companies to develop globally.
<img alt="" src="https://www.benzinga.com/files/u469346/3-200x480.png" style="height:480px; width:200px" />
The leader on this list is Daqo, which may not be well known to most readers, but has attracted big attention from global investors as one of the most important raw material suppliers in the new energy category.
Detailed ranking of the 50 most influential Chinese concept stocks:
1 Daqo&nbsp; (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/dq#NYSE">DQ</a>)&nbsp;
2 Hello Group&nbsp; (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/momo#NASDAQ">MOMO</a>)&nbsp;
3 360 DigiTech (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/qfin#NASDAQ">QFIN</a>)
4 Jinko Solar&nbsp; (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/jks#NYSE">JKS</a>)&nbsp;
5 TuSimple&nbsp; (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/tsp#NASDAQ">TSP</a>)
6 Up Fintech&nbsp; (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/tigr#NASDAQ">TIGR</a>)
7 Cloopen&nbsp; (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/raas#NYSE">RAAS</a>)&nbsp;
8 Full Truck Alliance (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ymm#NYSE">YMM</a>)
9 Baozun (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/bzun#NASDAQ">BZUN</a>)&nbsp;
10 Uxin&nbsp; (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/uxin#NASDAQ">UXIN</a>)&nbsp;
11 Zepp&nbsp; (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/zepp#NYSE">ZEPP</a>)&nbsp;
12 Gaotu Techedu&nbsp; (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/gotu#NYSE">GOTU</a>)&nbsp;
13 Yalla&nbsp; (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/yala#NYSE">YALA</a>)
14 RenSola&nbsp; (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/sol#NYSE">SOL</a>)
15 Qudian&nbsp; (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/qd#NYSE">QD</a>)
16 FinVolution (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/finv#NYSE">FINV</a>)
17 Dingdong&nbsp; (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ddl#NYSE">DDL</a>)
18 BeiGene&nbsp; (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/bgne#NASDAQ">BGNE</a>)
19 Sinovac&nbsp; (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/sva#NASDAQ">SVA</a>)&nbsp;
20 Agora&nbsp; (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/api#NASDAQ">API</a>)&nbsp;
21 Niu (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/niu#NASDAQ">NIU</a>)&nbsp;
22 BIT Mining (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/btcm#NYSE">BTCM</a>)&nbsp;
23 Canadian Solar (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/csiq#NASDAQ">CSIQ</a>)
24 VNET&nbsp; (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/vnet#NASDAQ">VNET</a>)&nbsp;
25 I-Mab&nbsp; (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/imab#NASDAQ">IMAB</a>)
26 Dada&nbsp; (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/dada#NASDAQ">DADA</a>)
27 So-Young (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/sy#NASDAQ">SY</a>)
28 Luckin&nbsp; (OTCMKTS:LKNCY)
29 Douyu&nbsp; (NASDAQ:DOYU&nbsp;
30 Autohome&nbsp; (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/athm#NYSE">ATHM</a>)
31 Sohu&nbsp; (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/sohu#NASDAQ">SOHU</a>)
32 Everest Med&nbsp; (1952.HK)
33 JW Thera (OTCMKTS:JWCTF)
34 LexinFintech&nbsp; (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/lx#NASDAQ">LX</a>)
35 Renren&nbsp; (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/renn#NYSE">RENN</a>)
36 Kanzhun&nbsp; (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/bz#NASDAQ">BZ</a>)
37 Pop Culture&nbsp; (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/cpop#NASDAQ">CPOP</a>)
38 Waterdrop&nbsp; (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/wdh#NYSE">WDH</a>)
39 111 Inc&nbsp; (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/yi#NASDAQ">YI</a>)
40 Tuya&nbsp; (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/tuya#NYSE">TUYA</a>)
41 Venus Medtech&nbsp; (2500.HK)
42 Miniso&nbsp; (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/mnso#NYSE">MNSO</a>)
43 Youdao&nbsp; (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/dao#NYSE">DAO</a>)
44 51job.com&nbsp; (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/jobs#NASDAQ">JOBS</a>)
45 New Oriental (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/edu#NYSE">EDU</a>)
46 Qutoutiao&nbsp; (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/qtt#NASDAQ">QTT</a>)
47 ATRenew&nbsp; (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/rere#NYSE">RERE</a>)
48 OneConnect&nbsp; (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ocft#NYSE">OCFT</a>)
49 Cango&nbsp; (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/cang#NYSE">CANG</a>)
50 Weimob&nbsp; (2013.HK)
It&rsquo;s worth noting that this list dominated by NASDAQ- and NYSE-listed companies also includes Hong Kong stocks such as Everest Medicines and Venus MedTech, and they are from the relatively weak category of healthcare. We have reason to believe that given time, Chinese medical companies will bring more surprises to global consumers and investors.
4. Global Investor Map
Using demographic data from thebambooworks.com and Dow Jones Factiva, we have calculated the ranking of countries and regions that are most interested in Chinese concept stocks.
<img alt="" src="https://www.benzinga.com/files/u469346/4-460x480.png" style="height:480px; width:460px" />
Not surprisingly, the United States accounts for 1/4 of Chinese stock investors. Hong Kong, accounted for 19%. Sometimes we have to admire the huge energy of this single city. As secondary listings of Chinese concept stocks in Hong Kong gradually grows, there may be new changes in this map.
Jony Ho, managing editor of Bamboo Works, said &ldquo;Amid all the pressure, second listings in Hong Kong have become a way for Chinese companies to diversify political risk, increase their liquidity and boost their valuations. We expect to see this trend become even more popular this year.&rdquo;
Consistent with our subjective feelings, a majority of investors in China Concept Stocks are from the mainland. After factoring in the influence of Internet access and language barriers, mainland investors who actually pay attention to China Concept Stocks should be slightly higher than the 16% in the figure.
Developed countries such as the United Kingdom, Canada, Japan, Germany, and Australia are on the list because the ranking of the number of Chinese stock investors has a certain direct correlation with the GDP ranking of each country. When you see that India ranks slightly higher than the United Kingdom and Canada, don&rsquo;t be too surprised, because India&rsquo;s GDP ranked seventh in the world. At the same time, East Asian and Southeast Asian countries and regions such as Singapore, Taiwan, and Malaysia also occupied places in the top 10.
Many listed companies may not be able to clearly identify their readership among investors for any individual country or region. Our map may be used as a rough informative reference.
5. Conclusion
Since our inception in 2021, Bamboo Works&rsquo; independent reports have been helping global investors learn more about Chinese companies. 2021 was a year of great pressure for most Chinese stocks. However, we believe in China&rsquo;s future development and strength, and believe the value of Chinese company stocks will continue to increase, and believe the integration of global capital markets is still a general trend. Therefore, we will continue to provide more reports, analysis and data to build a better bridge for Chinese companies to communicate with global investors.
&nbsp;

Small Cap

ATHM

BGNE

BTCM

CANG

CPOP

CSIQ

DADA

FINV

GSX Techedu Inc. American Depositary Shares

GOTU

IMAB

JOBS

MNSO

MOMO

OCFT

QFIN

RAAS

RENN

RERE

SOHU

TIGR

TUYA

UXIN

VNET

YALA

ZEPP

New Energy Lands as Hottest Category Among Chinese Concept Stocks in 2021 – Bamboo Works Special Report

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