Shares of CanSinoBIO jumped 5.18% in Wednesday's trading session, outperforming the broader market, following a positive regulatory update on its meningococcal vaccine candidate Menhycia.
China's National Medical Products Administration has accepted the company's supplemental application to expand the approved age range for Menhycia from 3 months to 3 years old to 3 months to 6 years old. The vaccine, which is the first MCV4 vaccine product in China, is designed to protect against meningococcal diseases caused by serogroups A, C, Y, and W-135.
The positive regulatory development for Menhycia, a key pipeline asset for CanSinoBIO, has been welcomed by investors as it potentially expands the addressable market for the vaccine in China. The stock's surge reflects the market's optimism about the company's prospects and growth potential in the domestic vaccine market.
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