[Asia Economy Reporter Hyunseok Yoo] Wellbiotech is showing strong performance. It appears that the news of ‘Aidar Ishmukhametov,’ the head researcher of the Russian vaccine institute ‘Chumakov Institute,’ which developed the COVID-19 vaccine ‘Covivac,’ along with key research staff visiting Korea, has had an impact.
As of 2:28 PM on the 10th, Wellbiotech was trading at 4,015 KRW, up 4.56% (175 KRW) compared to the previous trading day.
Covivac is the third vaccine independently developed by Russia, following ‘Sputnik V’ and ‘EpiVacCorona.’ The Russian government conditionally approved the use of Covivac for the general public in February based on Phase 2 clinical trial results. Currently, Phase 3 clinical trials are underway with about 3,000 participants.
Covivac uses an inactivated virus strain, so there is no risk of infection from vaccination, and it can be distributed and stored at 2 to 8 degrees Celsius. The Chumakov Institute announced clinical trial results showing over 90% preventive efficacy after the first and second doses.
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