Core Viewpoint - The company, Kang Le Wei Shi, has announced the suspension of clinical trials for its three-valent and nine-valent HPV vaccines due to overdue funding and financial pressures, which have been a recurring issue for the company [1][4]. Group 1: Clinical Trial Suspension - The clinical trials for the three-valent and nine-valent HPV vaccines have been paused by the Shanxi and Jiangsu Provincial Centers for Disease Control due to overdue clinical trial funding [1]. - The three-valent HPV vaccine's phase III clinical trial is expected to reach its pathological endpoint (CIN2+) by August 2024, and the suspension is not anticipated to significantly impact the accumulated qualified cases or the upcoming Biologics License Application (BLA) [2]. - The nine-valent HPV vaccine (female indication) has completed the primary endpoint case collection but may face challenges in secondary endpoint case collection and BLA submission if the trial does not resume soon [3]. Group 2: Financial Challenges - The company has faced significant financial pressure, previously announcing issues with repaying bank loans and having multiple bank accounts frozen due to liquidity problems [4]. - As of December 31, 2024, the company's cash balance was 77.77 million yuan, with total current assets of 117 million yuan, and by September 30, 2025, cash had decreased to 6.32 million yuan, a 91.88% year-on-year decline [5]. - The company has yet to commercialize its core products, with revenue primarily from research testing reagents, reporting revenues of 885,600 yuan in 2024 and a net loss of 357 million yuan [5].
“北交所人用疫苗第一股”没钱了？康乐卫士两款HPV疫苗临床试验被暂停