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Sinovac Biotech Files Form 12b-25 with the U.S. Securities and Exchange Commission
Friday June 30, 3:37 pm ET
BEIJING, June 30 /Xinhua-PRNewswire/ -- Sinovac Biotech Ltd. (Amex: SVA - News) announced today that it has filed a Form 12b-25 (Notification of Late Filing) with the Securities and Exchange Commission with respect to its annual report on Form 20-F for the fiscal year ended December 31, 2005.
The late filing is the result of the uncovering and ongoing remediation of possible violations of Section 402 of U.S. Sarbanes-Oxley Act of 2002 in respect of certain arrangements previously entered into by Sinovac with a former director and a former officer and director that had been previously disclosed in the Company's SEC filings. Section 402 prohibits an issuer subject to the Sarbanes-Oxley Act from extending or maintaining (directly or indirectly) personal loans to directors or executive officers, subject to certain exceptions. The late filing is also attributable to delays Sinovac has experienced in completing its financial statements and audit for the year ended December 31, 2005.
Sinovac was unable to file its Annual Report on Form 20-F for the fiscal year ended December 31, 2005 without the expenditure of unreasonable effort and expenses as outlined in its Form 12b-25 filing.
About Sinovac
Sinovac Biotech Ltd. is a China-based biopharmaceutical company that focuses on the research, development, manufacture and commercialization of vaccines that protect against human infectious diseases. Sinovac's vaccines include Healive(TM) (hepatitis A), Bilive(TM) (hepatitis A & B) and Anflu(TM) (influenza). Sinovac has vaccines in clinical trials to combat avian influenza (bird flu).
Additional information about Sinovac is available on the Company website, http://www.sinovac.com and the Sinovac Investor Relations website, http://finance.groups.yahoo.com/group/Sinovac_Biotech_IR/
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Safe Harbor Statement
This announcement contains forward-looking statements. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by words or phrases such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates" and similar statements. Among other things, the business outlook and quotations from management in this press release contain forward-looking statements. Statements that are not historical facts, including statements about Sinovac's beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of important factors could cause actual results to differ materially from those contained in any forward- looking statement. Sinovac does not undertake any obligation to update any forward-looking statement, except as required under applicable law.
CONTACT:
Craig H. Bird
Segue Investor Relations
Phone: (215) 885- 4981
Fax: (215) 885 - 4982
Email: Sinovac@segue.biz
About SINOVAC
Sinovac Biotech Ltd. (SINOVAC) is a China-based global biopharmaceutical company, with a mission of "supply vaccines to eliminate human diseases", the company specializes in the research, development, manufacturing and commercialization of vaccines and related biological products that protect against human infectious diseases.
The company's diversified portfolio includes vaccines for influenza, viral hepatitis, varicella, Hand-Foot-Mouth disease (HFMD), poliomyelitis, pneumococcal disease, etc., of which 3 vaccines have been prequalified by WHO, including inactivated hepatitis A vaccine Healive®, Sabin-strain inactivated polio vaccine (sIPV), and varicella vaccine.
SINOVAC has a leading edge in developing vaccines to combat infectious disease outbreaks and was among the first to initiate R&D during major public health emergencies, including SARS, H5N1, H1N1, and COVID-19. The company developed the world's first inactivated SARS vaccine (Phase I completed), China's first H5N1 influenza vaccine (Panflu®), the world's first H1N1 influenza vaccine (Panflu.1®), and CoronaVac®, the most widely used inactivated COVID-19 vaccine globally.
Beyond its marketed portfolio, the company is advancing a robust pipeline that includes combination vaccines,recombinant protein vaccines and next-generation platforms such as mRNA technologies and antibodies.
With a long-standing commitment to innovation and global health, SINOVAC is expanding its global footprint by strengthening partnerships with research institutions, international organizations, and local partners. Through broader market presence, technological cooperation, and localized production, the company aims to accelerate vaccine development and supply, enhance regional access to high-quality products, and better address unmet medical needs while improving preparedness for future pandemics.
For more information, please see the Company’s website at www.sinovac.com.