Sinovac Biotech gains on clinical trials for flu vaccines
Shares of Sinovac Biotech Ltd. (Amex: SVA) are gaining ground in pre-market trading after the China-based biopharmaceutical company said that it received approval from the China State Food and Drug Administration to move forward on trials for its pandemic influenza vaccines.
Specifically, Sinovac received approval from the China State Food and Drug Administration to begin Phase Ib and II trials of its pandemic influenza (H5N1) whole viron inactivated vaccine and Phase I and II trials of its pandemic influenza (H5N1) split vaccine.
Shares of Sinovac (SVA) gained $0.50, or 9.17%, to $5.95 ahead of the opening. Biotech Shares of Sinovac Biotech have been trading in the range of $2.25 to $8.33 for the past 52 weeks.
