China’s CanSino Biologics Inc. (HKEX: 06185) will supply domestic military with its Covid-19 vaccine before the final testing phase, as approved by the Central Military Commission last week.
Following positive results from its Ad5-nCoV coronavirus cure candidate, published in the Lancet, CanSino has scored a one-year deal with the government. The biotech company developed its vaccine together with a research institute at the Academy of Military Science (AMS), as reported by Reuters.
The company said its Phase 1 and 2 trial results showed the candidate appeared to be safe, well-tolerated, and able to trigger an immune response. Still, CanSino said, as cited by Reuters, the vaccine is “currently limited to military use only and its use cannot be expanded to a broader vaccination range without the approval of the Logistics Support Department.”
Despite the good news, the stock in Hong Kong-listed CanSino shifted HK$1 lower today, to HK$219 per share. Still, that’s 16% above its level of Monday a week ago and 265% higher than its price of HK$60 per share in January.
Earlier, Canada has approved CanSino’s Phase 2 human trial application. CanSino is also developing an mRNA lipid nanoparticle vaccine against Covid-19 with Vancouver's Precision NanoSystems.
The Ad5-nCoV is one of China’s eight vaccine candidates in development. Globally, more than a dozen shots are undergoing human testing. Another advanced candidate – the AZD1222 developed by British AstraZeneca plc (NYSE: AZN) and Oxford University – was announced to start production in Brazil. The country will make 30 million doses of the vaccine by January in a $127 million contract, according to a Saturday Reuters report.