CanSino Biologics' HK shares slump as COVID vaccine won't boost earnings

Clover Biopharmaceuticals

03/11/2022 03:16

** Hong Kong shares of CanSino Biologics Inc  6185.HK 
tumble as much as 31.2% to HK$97, set for the biggest daily pct
fall since debut in March 2019, if losses hold
    ** Tianjin-based CanSino says it does not expect its inhaled
COVID vaccine to significantly boost financial results, based on
current immunity strategy and domestic booster vaccination rates
    ** Stock set to snap an eight-session winning run during
which it surged 197% after the vaccine was included in
Shanghai's booster vaccination program last week
    ** Stock is the biggest pct decliner in Hang Seng Composite
Index  .HSCI  and on Hong Kong bourse
    ** Shanghai-listed shares  688185.SS  drop 6.5%
    ** Other Chinese pharma stocks also take a breather after
recent strength, with Sino Biopharmaceutical  1177.HK , CSPC
Pharmaceutical  1093.HK , Clover Biopharmaceuticals  2197.HK 
and Simcere Pharmaceutical  2096.HK  down between 2.5% and 10.1%
    ** Hang Seng Commerce & Industry Index  .HSNC  slumps 2.7%
and healthcare index  .HSCIH  drops 2.3%
    ** Hang Seng Composite Index  .HSCI  falls 1.9% and Hang
Seng Index  .HSI  declines 2.2%
    ** As of last close, CanSino's Hong Kong shares had fallen
21.8% this year
 (Reporting by Donny Kwok)
 ((donny.kwok@thomsonreuters.com))