(Yicai Global) Aug 30 -- Shares of Zhifei Biological Products surged after late-stage clinical trials showed that its Covid-19 vaccine had a 77.5 percent efficacy rate against the faster-spreading delta variant of the coronavirus.
After gaining almost 15 percent earlier today, Zhifei Biological’s stock price [SHE:300122] finished 7.9 percent up at CNY177.08 (USD27.38).
Its recombinant protein vaccine was 81.8 percent effective against any severe Covid-19 infections, meeting World Health Organization standards, according to the results of Phase III clinical trials the firm published late on Aug. 27. The shots are 92.9 percent effective against the alfa variant, and can prevent severe cases and death by 100 percent.
Phase III trials, which were undertaken in China’s Hubei province as well as Uzbekistan, Indonesia, Pakistan and Ecuador, started last December and involved 28,500 participants, split into two groups, the Chongqing-based company said. Some 14,251 received the vaccine, while 14,249 were given a placebo.
The jab was jointly developed by Zhifei Biological and the Institute of Microbiology of the Chinese Academy of Sciences. It is the world’s first recombinant subunit protein Covid-19 vaccine approved for clinical use. China already authorized its emergency use in March.
Zhifei Biological has a vaccine production line with annual capacity of 300 million doses, it said at an investor relations event at the Shenzhen Stock Exchange in March.
Editor: Futura Costaglione