Sinovac’s shares soared on EV71 vaccine Phase III results

Northern, WI 03/15/2013 (avauncer) - Chinese pharmaceutical firm Sinovac Biotech Ltd.’s (NASDAQ:SVA) shares jumped on the announcement of Enterovirus 71 vaccine late-stage results.

The Company said that the preliminary Phase III result showed that Sinovac’s Enterovirus 71 vaccine was 95.4% effective and safe in preventing hand, foot and mouth disease (HFMD).

The study evaluated the efficacy of the EV71 vaccine in stopping of HFMD caused by one EV71 virus in 6 to 35 months old children. About 2.2% of patients reported serious side effects. However, it was found that the side-effects were not due the vaccine.

Sinovac obtained clinical research approval for its EV71 vaccine candidate in December 2010, and completed Phase I and II clinical trials in 2011. The preliminary Phase I and Phase II results confirmed that EV71 vaccine is safe and effective.

Shares of Sinovac Biotech Ltd. (NASDAQ:SVA) were down by 3.19% and currently trading at $3.64

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