HK inno.N has made a voluntary withdrawal from its Covid-19 vaccine development, saying its project purpose is compromised by a dramatic change in the pandemic’s course shifting towards the endemic stage from the pandemic stage.

The Korean pharmaceutical company said on Monday it decided to stop all development processes, including ongoing analyses of a Phase 1 clinical study as most Korean adults have already developed immunity with vaccinations against the coronavirus or after infection. The country is already in the path to endemic status, it added.

HK inno.N had worked on the analysis of results from its Phase 1 study whose protocol was first cleared by health authorities in July last year.

The company also said it is difficult to continue clinical trials due to the decrease in the number of unvaccinated people while the purpose of conducting late-stage clinical trials became vague.

Shares of HK inno.N were trading 2.71 percent lower at 37,650 won ($29.55) Tuesday.

By Pulse

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