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WUXI APPTEC Opens Surging 15%; Proposed US Biosecure Act Amended to Delay Tie Cut Deadline w/ CN Biotechs
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The proposed US Biosecure Act restricting business with Chinese biotech companies such as WUXI APPTEC (02359.HK) has been revised, delaying the deadline to sever ties. The news stimulated WUXI APPTEC to open rocketing 14.96% today, gapping up through the 50MA. It trades now at $41.95, surging 10.1%, with a volume of 3.4575 million shares, involving a capital of $150 million. WUXI BIO (02269.HK) opened 7.91% higher. It stands now at $15.66, hiking 6.82%, with a volume of 31.7921 million shares, involving $505 million. WUXI XDC (02268.HK) opened 7.56% higher and is now trading at $20.3, lifting 6.51%, with 1.1395 million shares traded, involving $23.2791 million. The revised bill now requires US companies to terminate their collaboration with a group of Chinese biotech firms, including WUXI APPTEC and BGI Genomics, by 2032. The new deadline gives more time before the disconnection for finding new partners. Reuters cited a document stating that the latest Biosecure Act also included WUXI BIO on the list of Chinese biotech companies of concern. Other companies on the list include BGI Genomics, MGI, Complete Genomics and WUXI APPTEC. A spokesperson for the US House of Representatives Committee on Oversight and Accountability said the amended bill will be introduced on Friday, and a US House of Representatives committee is expected to decide next week whether to move forward with the bill, the report said. AAStocks Financial News |
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