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YS Biopharma Co., Ltd. (Nasdaq: YS) is a global biopharmaceutical company focused on discovering, developing, manufacturing, and delivering next-generation vaccines and therapeutic biologics for infectious diseases and cancer. Operating in China, the United States, Singapore, and the Philippines, YS Biopharma leverages its proprietary PIKA® immunomodulating technology platform to create innovative solutions for diseases such as rabies, coronavirus, hepatitis B, influenza, and shingles.
The company recently announced changes to its board of directors and key strategic appointments within its wholly-owned subsidiaries in China. Notable changes include the resignation of Mr. Bo Tan and Mr. Shaojing Tong from the board and the appointment of Ms. Chunyuan Wu as the new legal representative and executive director of Beijing Yisheng Biotechnology Co., Ltd.
YS Biopharma is also making significant strides in its financial performance, having fully repaid a $40,000,000 loan, which enhances its financial strength and flexibility. The company continues to advance its product pipeline, achieving positive interim results from a Phase 3 clinical trial of its PIKA Rabies Vaccine, which promises accelerated protection and a shorter regimen compared to conventional vaccines.
In terms of financial health, YS Biopharma reported revenues of RMB438.1 million ($61.9 million) for the first nine months of fiscal 2024. Despite challenges such as supply chain disruptions, the company maintained strong market leadership in rabies vaccines in China, with an estimated double-digit year-over-year growth in product sales during the fourth quarter of fiscal 2024.
Additionally, the company's YS-HBV-002 immunotherapeutic vaccine for chronic hepatitis B virus (HBV) infection received clinical trial approval from the Philippine FDA, with a Phase I clinical trial set to begin in June 2024.
YS Biopharma recently announced it would change its legal name to LakeShore Biopharma Co., Ltd., effective May 28, 2024, to better align with its global market positioning. The company's ordinary shares and warrants will continue to trade on Nasdaq under the new ticker symbols 'LSB' and 'LSBPW', respectively.
For more detailed information, visit investor.ysbiopharma.com.
LakeShore Biopharma (Nasdaq: LSB) has initiated a Biologics License Application to Pakistan's Drug Regulatory Authority for its PIKA rabies vaccine. The application is supported by successful pivotal trial results showing the vaccine's ability to provide accelerated protection in a one-week regimen, compared to conventional three- or four-week regimens. The Phase 3 trial involved 4,500 participants from the Philippines and Pakistan, demonstrating superior immunogenicity and safety. Pakistan, among the top five countries for human rabies cases, reports over 1.5 million dog bites and 2,000-5,000 human deaths annually. The vaccine, which received FDA orphan drug designation, utilizes proprietary PIKA adjuvant technology to produce stronger immune responses.
YS Biopharma announced a name change to LakeShore Biopharma, effective May 24, 2024. This rebranding aims to align with the company's global market positioning. The ticker symbol on Nasdaq will change from 'YS' to 'LSB' starting May 28, 2024. Shareholders' rights and the company's financial position remain unaffected. The CUSIP number will also stay the same.
YS Biopharma has announced the results of its Extraordinary General Meeting (EGM) held on May 21, 2024, in Hong Kong. Key resolutions passed include renaming the company to LakeShore Biopharma and appointing new directors Dave Chenn, Chunyang Shao, Zengjun Xu, Thomas Xue, and Adam Zhao. Additionally, the 2024 Share Incentive Plan was approved, and previous resolutions from the February 22, 2024 meeting were reaffirmed. The company is updating its records with the Cayman Islands Registrar and working with Nasdaq to update its trading symbols.
YS Biopharma, a global biopharmaceutical company, will hold an Extraordinary General Meeting on May 21, 2024, to change its name to LakeShore Biopharma and appoint new directors. Mr. Dave Chenn has been appointed as the Interim CEO with vast experience in technology, finance, and healthcare sectors.
YS Biopharma has received an additional 180-day extension from Nasdaq to regain compliance with the minimum bid price rule. The company did not meet the $1.00 bid price requirement and now has until October 21, 2024, to demonstrate compliance. Failure to do so may result in delisting.
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