Navigation Links
Sinovac Receives Nasdaq Deficiency Letter Regarding Audit Committee Requirement
Date:1/24/2012

BEIJING, Jan. 24, 2012 /PRNewswire-Asia/ -- Sinovac Biotech Ltd. (Nasdaq: SVA), a leading provider of vaccines in China, today announced that it received a letter dated January 18, 2012 from The Nasdaq Stock Market.  Based on the departure of Ms. Chup Hung Mok from the Company's Board of Directors effective January 4, 2012, Nasdaq has determined that the Company no longer complies with Nasdaq's requirement that its audit committee consists of at least three independent directors, as set forth in Listing Rule 5605.  However, consistent with Listing Rule 5605(c)(4), Nasdaq will provide the Company a cure period in order to regain compliance of until the earlier of the Company's next annual shareholders meeting or January 4, 2013; or if the next annual shareholders' meeting is held before July 2, 2012, then the Company must evidence compliance no later than July 2, 2012.

As announced on January 4, 2012, the Board has an active search ongoing to locate a suitable replacement for Ms. Mok.  The Company intends to submit to Nasdaq documentation, including biographies of any new directors, evidencing compliance with the rules no later than this date.

About Sinovac
Sinovac Biotech Ltd. is a China-based biopharmaceutical company that focuses on the research, development, manufacture and commercialization of vaccines that protect against human infectious diseases including hepatitis A, seasonal influenza, H5N1 (bird flu) pandemic influenza and H1N1 influenza. In 2009, Sinovac was the first company worldwide to receive approval for its H1N1 influenza vaccine, PANFLU.1, and has received orders from the Chinese Central Government pursuit to the government stockpiling program. The Company is developing a number of new vaccine products, including vaccines for pneumococcal conjugate, enterovirus 71 (EV71) (against Hand, Foot & Mouth Disease), pneumococcal polysaccharides, human rabies, HIB, rotavirus and epidemic meningitis, chickenpox and mumps & rubella. Its wholly owned subsidiary, Tangshan Yian, is focusing on the research, development, manufacturing and commercialization of animal vaccines, and has launched its internally developed inactivated rabies vaccine in China.

Safe Harbor Statement
This announcement contains 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 words or phrases such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates" and similar statements. Among other things, the business outlook and quotations from management in this press release contain forward-looking statements. Statements that are not historical facts, including statements about Sinovac's beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of important factors could cause actual results to differ materially from those contained in any forward-looking statement. Sinovac does not undertake any obligation to update any forward-looking statement, except as required under applicable law.

Contact:

Helen Yang / Chris Lee
Sinovac Biotech Ltd.
Tel:  +86-10-8279-9871/9659
Fax:  +86-10-6296-6910
Email: ir@sinovac.com

Investors:
Stephanie Carrington
The Ruth Group
Tel:  +1-646-536-7017
Email: scarrington@theruthgroup.com

Media
Victoria Aguiar
The Ruth Group
Tel:  +1-646-536-7013
Email:  vaguiar@theruthgroup.com

 


'/>"/>
SOURCE Sinovac Biotech Co., Ltd.
Copyright©2010 PR Newswire.
All rights reserved

Related medicine technology :

1. Sinovac to Present at 23rd Annual Piper Jaffray Health Care Conference and HK/China Mini Conference 2011 (Healthcare)
2. /C O R R E C T I O N -- Sinovac Biotech Ltd./
3. Sinovac Reports Unaudited Third Quarter 2011 Financial Results
4. Sinovac Reports Positive Preliminary Phase II Clinical Trial Results for EV71 Vaccine Against Hand, Foot and Mouth Disease
5. Sinovac to Host Conference Call to Report Third Quarter 2011 Unaudited Financial Results
6. Sinovac Reports Unaudited Second Quarter 2011 Financial Results
7. Sinovac Announces Management Changes
8. Sinovac Holds 2011 Annual Shareholders Meeting
9. Sinovac Appoints Kenneth Lee to Board of Directors
10. Sinovac Reports Positive Phase I Clinical Trial Results for EV71 Vaccine Candidate Against Hand, Foot & Mouth Disease(HFMD)
11. Sinovac Reports Unaudited First Quarter 2011 Financial Results
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:5/5/2016)... -- Progra m m e ... , s mosquito in Cayman Islands ... by 96 %   Oxitec and the Cayman Islands ... Aedes aegypti, the dangerous mosquito that spreads dengue, Zika and chikungunya, ... Grand Cayman .  MRCU, a global leader in mosquito control, is planning ...
(Date:5/5/2016)... Research and Markets has announced the addition of ...  report to their offering.  ,     (Logo: http://photos.prnewswire.com/prnh/20160330/349511LOGO ... Emission Tomography (PET) scanner and cyclotron install base in ... the current known number of PET scanners and cyclotrons ... also contains a detailed breakdown of this equipment by ...
(Date:5/5/2016)... DUBLIN , May 5, 2016 ... Markets has announced the addition of the  ... Highlights - 2016"  report to their ... http://photos.prnewswire.com/prnh/20160330/349511LOGO ) , ,The latest ... Landscape Highlights - 2016, provides comprehensive ...
Breaking Medicine Technology:
(Date:5/5/2016)... ... ... Chronic stress can have a silent, yet dangerous, impact on men’s heart ... increase inflammation, both of which raise the risk of heart attack and even stroke,” ... Harvard-affiliated Massachusetts General Hospital. Chronic stress also can lead to other issues that indirectly ...
(Date:5/5/2016)... Rochester, NY (PRWEB) , ... May 05, 2016 ... ... app is now available for iOS and Android devices. VisualDx is the ... expanded to include diagnostic support across general medicine. The system speeds diagnosis, ...
(Date:5/5/2016)... ... May 05, 2016 , ... CURE Media Group , ... announced a new collaboration with Imerman Angels to expand outreach and emotional ... world. , “Imerman Angels provides an emotional lifeline to patients and families facing the ...
(Date:5/5/2016)... (PRWEB) , ... May 05, 2016 , ... If you ... stretch marks on your skin, you may want to consider a treatment that some ... of Advanced Dermatology P.C. , Microneedling, also known as skin needling, is ...
(Date:5/5/2016)... Ill. (PRWEB) , ... May 05, 2016 , ... Dermatologic ... percent more than 2014 and up 27 percent since 2012. , The results of ... – including another annual increase in skin cancer treatments and the growing popularity of ...
Breaking Medicine News(10 mins):