Medigen Vaccine Biologics Corp’s (高端疫苗) share price yesterday plunged by the daily limit of 10 percent for the fifth consecutive day, closing at NT$230.5 amid questions over locally produced COVID-19 vaccines.
Medigen’s share price advanced after it announced on Feb.17 last year that it was working on a COVID-19 vaccine, peaking at NT$417 on May 17 after closing at NT$35.85 on Feb. 17 last year, Taipei Exchange (TPEX) data showed.
However, the company’s share price has plummeted by the daily limit since Monday, closing at NT$350 on Monday, NT$315 on Tuesday, NT$284 on Wednesday and NT$256 on Thursday, the data showed.
Yesterday’s closing price was down 44.8 percent from its peak last year, although it was still up 137 percent for the year to date, the data showed.
In yesterday’s trading, 2.09 million shares changed hands, with foreign institutional investors buying a net 4,867 shares and dealers selling a net 28,000 shares, the data showed.
The week-long plunge comes despite Medigen on Sunday last week announcing that it signed a contract with the Centers for Disease Control (CDC) to buy 5 million doses of its COVID-19 vaccine — which is still undergoing clinical trials — with a subsequent purchase of up to 5 million doses.
In a telephone call with the Taipei Times, an analyst attributed the falling share price to market corrections and questions over locally developed COVID-19 vaccines.
“Medigen’s price was pushed up to an insanely high level last month, surpassing NT$400. That meant if you had bought 10 units, or 10,000 shares, you would have paid NT$4 million [US$144,295], which is an unreasonable price for a company that has not reported a profit or issued a dividend,” the analyst said on the condition of anonymity.
After the shares peaked in the middle of May, many investors rushed to sell their shares when information that weakened the company’s outlook spread, the analyst said.
Questions over whether COVID-19 vaccines manufactured in Taiwan should undergo phase 3 clinical trials to show their effectiveness and safety in large-scale tests before being used under a prospective emergency use authorization have weakened the confidence of some investors, the analyst said.
Although Medigen’s contract with the CDC will boost the company’s revenue, it is still uncertain whether its vaccines will be effective, as it has not released the results of its phase 2 clinical trials, the analyst said.
European Central Bank (ECB) President Christine Lagarde is expected to step down from her role before her eight-year term ends in October next year, the Financial Times reported. Lagarde wants to leave before the French presidential election in April next year, which would allow French President Emmanuel Macron and German Chancellor Friedrich Merz to find her replacement together, the report said, citing an unidentified person familiar with her thoughts on the matter. It is not clear yet when she might exit, the report said. “President Lagarde is totally focused on her mission and has not taken any decision regarding the end of
French President Emmanuel Macron told a global artificial intelligence (AI) summit in India yesterday he was determined to ensure safe oversight of the fast-evolving technology. The EU has led the way for global regulation with its Artificial Intelligence Act, which was adopted in 2024 and is coming into force in phases. “We are determined to continue to shape the rules of the game... with our allies such as India,” Macron said in New Delhi. “Europe is not blindly focused on regulation — Europe is a space for innovation and investment, but it is a safe space.” The AI Impact Summit is the fourth
CONFUSION: Taiwan, Japan and other big exporters are cautiously monitoring the situation, while analysts said more Trump responses ate likely after his loss in court US trading partners in Asia started weighing fresh uncertainties yesterday after President Donald Trump vowed to impose a new tariff on imports, hours after the Supreme Court struck down many of the sweeping levies he used to launch a global trade war. The court’s ruling invalidated a number of tariffs that the Trump administration had imposed on Asian export powerhouses from China and South Korea to Japan and Taiwan, the world’s largest chip maker and a key player in tech supply chains. Within hours, Trump said he would impose a new 10 percent duty on US imports from all countries starting on
STRATEGIC ALLIANCE: The initiative is aimed at protecting semiconductor supply chain resilience to reduce dependence on China-dominated manufacturing hubs India yesterday joined a US-led initiative to strengthen technology cooperation among strategic allies in a move that underscores the nations’ warming ties after a brief strain over New Delhi’s unabated purchase of discounted Russian oil. The decision aligns India closely with Washington’s efforts to build secure supply chains for semiconductors, advanced manufacturing and critical technologies at a time when geopolitical competition with China is intensifying. It also signals a reset in relations following friction over energy trade and tariffs. Nations that have joined the Pax Silica framework include Japan, South Korea, the UK and Israel. “Pax Silica will be a group of nations
RSS