(Yicai Global) Aug. 5 -- Shares of Kangtai Biological Products surged after the Chinese vaccine maker said it has successfully isolated multiple strains of the Delta variant coronavirus and will develop targeted inactivated shots.

Kangtai Biological [SHE: 300601] surged as much as 16 percent today, before ending 14.2 percent higher at CNY156.40 (USD24.21). The Shenzhen stock market fell almost 1 percent.

Kangtai isolated many monoclonal strains of the Delta variant, the Shenzhen Special Zone Daily reported this morning. The Shenzhen-based company is now screening strains to prepare an inactivated shot against the variant.

The firm will “continue to promote the development and industrialization of Covid-19 variant vaccines, and strive to contribute to the early victory over the Covid-19 pandemic in China and the world,” the report quoted a company official as saying.

According to Kangtai’s in-house test results, its inactivated coronavirus vaccine Kconvac, which was approved for emergency use in China in May, can still produce a good neutralization response to such variants, and is still effective, the report added.

Editor: Peter Thomas