SINOVAC Updates the Status Under Holding Foreign Companies Accountable Act
May 06 2022 - 6:00AM
Business Wire
Sinovac Biotech Ltd. (“SINOVAC” or the “Company”) (NASDAQ: SVA),
a leading provider of biopharmaceutical products in China, is aware
that the Company has been identified by the United States
Securities and Exchange Commission (“SEC”) under the Holding
Foreign Companies Accountable Act of the United States (the
“HFCAA”) on May 4, 2022. Similar to other companies that have also
been identified, SINOVAC notes such identification resulted from
the Company’s filing of its annual report on Form 20-F for the
fiscal year ended December 31, 2021. SINOVAC has previously
disclosed that its auditor, the independent registered public
accounting firm that issued the audit report included in its annual
report filed with the SEC, is in a jurisdiction currently listed as
not being able to be fully inspected by the PCAOB, and thus the
identification was expected. SINOVAC will continue to closely
monitor developments and explore options in relation to the
HFCAA.
About SINOVAC
Sinovac Biotech Ltd. is a China-based biopharmaceutical company
that focuses on the research, development, manufacturing and
commercialization of vaccines that protect against human infectious
diseases. SINOVAC's product portfolio includes vaccines against
COVID-19, enterovirus71 (EV71), hepatitis A and B, seasonal
influenza, 23-valent pneumococcal polysaccharide (“PPV”), H5N1
pandemic influenza (avian flu), H1N1 influenza (swine flu),
varicella, mumps and poliomyelitis. SINOVAC’s COVID-19 vaccine,
CoronaVac®, has been granted emergency use approval or conditional
marketing authorization in Asia, Latin America, Africa and Middle
East countries and EUL by the WHO. Healive®, the hepatitis A
vaccine manufactured by the Company, has passed the assessment
under WHO prequalification procedures in 2017. The EV71 vaccine, an
innovative vaccine developed by SINOVAC against hand foot and mouth
disease caused by EV71, was commercialized in China in 2016. In
2009, SINOVAC was the first company worldwide to receive approval
for its H1N1 influenza vaccine Panflu.1®, which it has supplied to
the Chinese Government's vaccination campaign and stockpiling
program. The Company is also the only supplier of the H5N1 pandemic
influenza vaccine Panflu® to the government stockpiling program. In
2021, SINOVAC’s Sabin-strain inactivated polio vaccine has been
approved for registration. The Company is developing several new
products including combination vaccines. SINOVAC primarily sells
its vaccines in China, while also exploring growth opportunities in
international markets. The Company is actively seeking market
authorization of its regular products in countries outside of
China. For more information, please see the Company’s website at
www.sinovac.com.
Safe Harbor Statement
This press release may include certain statements that are not
descriptions of historical facts, but are forward-looking
statements. These statements are made under the “safe harbor”
provisions of the U.S. Private Securities Litigation Reform Act of
1995. These forward-looking statements can be identified by
terminology such as “will,” “expects,” “anticipates,” “future,”
“intends,” “plans,” “believes,” “estimates” and similar statements.
Forward-looking statements involve risks, uncertainties and other
factors that could cause actual results to differ materially from
those contained in any such statements. In particular, the outcome
of any litigation is uncertain, and the Company cannot predict the
potential results of the litigation it filed or filed against it by
others. Additionally, the triggering of a shareholder rights plan
is nearly unprecedented, and the Company cannot predict the impact
on the Company or its stock price as a result of the trigger of the
rights plan.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20220506005182/en/
Sinovac Biotech Ltd. Helen Yang Tel: +86-10-8279-9871 or
+86-10-5693-1897 Fax: +86-10-6296-6910 Email: ir@sinovac.com
ICR Inc. Bill Zima U.S.: 1-646-308-1707 Email:
william.zima@icrinc.com
Sinovac Biotech (NASDAQ:SVA)
Historical Stock Chart
From Mar 2024 to Apr 2024
Sinovac Biotech (NASDAQ:SVA)
Historical Stock Chart
From Apr 2023 to Apr 2024