[Featured Stock] SK Bioscience Rises 5% Ahead of Novavax Vaccine Approval
[Asia Economy Reporter Lee Seon-ae] SK Bioscience's stock price is showing strength. It is interpreted that buying demand is flowing in ahead of the approval of the COVID-19 vaccine by the U.S. company Novavax.
At 10:03 a.m. on the 12th, SK Bioscience was trading at 228,500 KRW, up 5.54% from the previous day. During the session, it rose to 229,000 KRW.
The Ministry of Food and Drug Safety will hold a final review committee meeting for the approval of Novavax's COVID-19 vaccine, which SK Bioscience is contract manufacturing, starting at 10 a.m. today. The results are expected to be announced around 1 p.m.
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The Novavax vaccine works by injecting viral antigen proteins into the body to generate antibodies. It has been used for a long time in existing vaccines such as those for hepatitis B and cervical cancer, verifying its safety. Compared to mRNA vaccines like Pfizer and Moderna, it is expected to cause less public anxiety. The government has secured 40 million doses of the Novavax vaccine.
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