预购协议遭单方面终止，三叶草生物被要求退还2.24亿美元

Core Viewpoint - The pre-purchase agreement between Clover Biopharmaceuticals and GAVI has been unilaterally terminated, requiring Clover to refund $224 million, which poses significant financial pressure on the company [1][2][3]. Group 1: Agreement Details - Clover Biopharmaceuticals entered into a pre-purchase agreement with GAVI in June 2021, which included provisions for supplying up to 414 million doses of the SCB-2019 COVID-19 vaccine upon approval [2]. - The agreement was amended in September 2022, converting the initial order into an option for 64 million doses and removing restrictions on supply to the Chinese market [3]. - GAVI's unilateral termination of the agreement has not been publicly explained, and Clover has refused to comply with the refund request, citing a lack of basis in the agreement [3]. Group 2: Financial Impact - Since its listing until mid-2024, Clover has incurred losses exceeding 8.7 billion yuan, with a market value of only $50 million [1][4]. - The company has only two commercialized products, with revenues from these products amounting to 39 million yuan in 2023, significantly below expectations [4]. - Clover's current financial situation is precarious, with current assets of 1.614 billion yuan and current liabilities of 2.073 billion yuan, indicating potential liquidity issues if the refund is enforced [5]. Group 3: Future Directions - Clover is shifting its research focus to the development of a respiratory syncytial virus (RSV) vaccine, SCB-1019, which has received FDA approval for clinical trials [5]. - The company aims to continue advancing its RSV vaccine candidate while facing declining demand for its COVID-19 vaccine and seasonal flu vaccine [4][5].