Chinese authorities approved an inhalable vaccine against covid-19, a world first, a decision that this Monday boosted the stock market listing of its Tianjin-based manufacturer.
CanSino Biologics' vaccine, to be used as an emergency booster dose, has received the green light from the country's medical products administration, the company said in a statement sent to the Hong Kong stock exchange on Sunday.
After the announcement, the company's share price soared up to 14% on the stock market on Monday and ended up closing with a rise of 7.1%.
The vaccine, which does not require an injection and is easier to store, will be administered nasally through an aerosol.
"The approval will have a positive impact on the company's bottom line if the vaccine is subsequently purchased and used by the relevant government agencies," the statement said.
Scientists from several countries around the world, such as Cuba, Canada and the United States, are working on vaccines that can be administered through the nose, a route of entry for the coronavirus.
Since 2020, China has approved eight COVID-19 vaccines, all of them locally developed, but has not yet allowed foreign vaccines to be used on its soil.
