CanSino Biologics, a Tianjin-based firm, has received approval from Chinese drug regulators to market the first inhalable COVID-19 vaccine, which increased the stock price of the company by 7% on Monday.
The vaccine is now approved for use as a booster in an emergency by the National Medical Products Administration, the business said in a statement to the Hong Kong Stock Exchange on Sunday.
Following the news, the company’s shares rose 14% on Monday morning before finishing 7.1% higher than when they opened.
The needle-free vaccine, which can be stored and administered more easily than intramuscular injections, will be administered via nebulizer, according to the company.
The company did not say when the adenovirus-vectored vaccine would be available to the public.
There is no publicly available verified or peer-reviewed data on the new vaccine’s efficacy.
Several countries, including Cuba, Canada, and the United States, are testing inhalable COVID-19 vaccines.
Since 2020, China has approved eight other locally manufactured injectable vaccines.
However, the country’s drug administrator has yet to approve any foreign vaccines, including mRNA shots manufactured by Pfizer/BioNTech or Moderna, which have higher efficacy rates than other types of vaccines.
China is the only major economy that maintains a zero-COVID policy, which has damaged travel and business.