Sinovac Biotech Cures Nasdaq Filing Deficiency
BEIJING, Dec. 1, 2017 /PRNewswire/ -- Sinovac Biotech Ltd. (Nasdaq: SVA) (the "Company" or "Sinovac"), a leading provider of biopharmaceutical products in China, announced today that it has received a Nasdaq Staff letter indicating that the Form 20-F filing delinquency, which was the subject of a prior Nasdaq Staff Determination letter, has been cured after the Company filed its annual report on Form 20-F for the year ended December 31, 2016 with the SEC on November 22, 2017. In the letter, Nasdaq indicated that the Company is in compliance with all applicable listing standards. As a result, the previously scheduled delisting hearing with the Nasdaq Listing Qualifications Panel has been canceled.
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 enterovirus71, or EV71, hepatitis A and B, seasonal influenza, H5N1 pandemic influenza (avian flu), H1N1 influenza (swine flu), and mumps. 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, 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 to the government stockpiling program. The Company is developing a number of new products including a Sabin-strain inactivated polio vaccine, pneumococcal polysaccharides vaccine, pneumococcal conjugate vaccine and varicella vaccine. Sinovac primarily sells its vaccines in China, while also exploring growth opportunities in international markets. The Company has exported select vaccines to over 10 countries in Asia and South America. For more information, please visit the Company's website at www.sinovac.com.
Safe Harbor Statement
This announcement 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.
Sinovac Biotech Ltd.
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Company Codes: NASDAQ-NMS:SVA