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Wednesday, June 29, 2022

SK Bioscience Shares Advance on Covid-19 Vaccine Approval

 SK Bioscience Co. shares advanced Wednesday after its Covid-19 vaccine candidate secured final approval for use from local health authorities in South Korea.

Shares in the South Korean vaccine maker rose 5.6% to 114,000 won ($88.21) in early afternoon trading, when the broader market index Kospi fell 1.5%.

The Ministry of Food and Drug Safety's approval of the biotech company's SKYCovione jab made it the country's first homegrown Covid-19 vaccine.

SK Bioscience, formerly a contract manufacturer of AstraZeneca PLC's vaccine, said it is now seeking to get emergency-use approval for SKYCovione in other countries and from the World Health Organization.

The company said that clinical-trial data show that SKYCovione helped form about three times more neutralizing antibodies than AstraZeneca's vaccine.

The global Phase 3 clinical trial of SKYCovione involved 4,037 adults and the efficacy test group received two doses at four-week intervals, the company said.

https://www.marketscreener.com/quote/stock/SK-BIOSCIENCE-CO-LTD-120803076/news/SK-Bioscience-Shares-Advance-on-Covid-19-Vaccine-Approval-40850284/

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