Full Press Release Details
Sinovac Biotech Announces Request Hearing
before Nasdaq Hearings Panel
BEIJING, November 8, 2017 /PRNewswire/ -- Sinovac Biotech Ltd.
(Nasdaq: SVA) (the "Company" or "Sinovac"), a leading provider of biopharmaceutical products in China,
announced today that the Company submitted a request for a hearing before the Nasdaq Hearings Panel (the "Panel").
As reported on November 3, 2017, the Company received a delisting
determination letter from the Staff of the Listing Qualifications Department (the"LQ Staff") of The Nasdaq Stock Market,
Inc. ("Nasdaq ") stating the LQ Staff had determined to delist the Company's shares because the Company had not
filed its annual report on Form 20-F for the year ended December 31, 2016 and failed to comply with Nasdaq's filing requirements
in Listing Rule 5250(c)(1).
On November 8, 2017, the Company submitted a request for an
oral hearing before the Panel to appeal the LQ Staff's determination. This request will automatically stay the suspension
of the Company's shares for a period of 15 days from the date of the request.
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.
Sinovac Biotech Ltd.
Tel: +86-10-8279-9871
Fax: +86-10-6296-6910
Email: ir@sinovac.com
Email: william.zima@icrinc.com