UBI Pharma had a smashing success of a debut on the emerging stock market on Wednesday. After pricing shares at NT$30 in its IPO, UBI Pharma saw its shares soar by more than seven times to a high of NT$220. The company is a subsidiary of Taiwanese COVID vaccine developer United Biomedical, which has reached a deal to supply 1 million vaccine doses to Paraguay.
Vaccine developer Medigen was the first in Taiwan to unveil the results of Phase II testing for its COVID vaccine candidate. It’s now preparing to launch Phase III trials. Meanwhile, United Biomedical isn’t far behind, with plans to announce its Phase II outcomes in late June. Already, Paraguay has preordered 1 million doses of its vaccine.
Wang Chang-yi (June 5)
United Biomedical founder
Basically, in mid-June, we’ll be able to sort out the data. At the end of June, we will apply for EUA. Say that, on July 15, we successfully get the unanimous approval of the expert committee and obtain EUA – we’d be able to deliver several million doses the very next day. We would be able to deliver all of 5 million doses.
On Wednesday, United Biomedical’s subsidiary UBI Pharma made its second debut on Taiwan’s emerging stock market. Although the IPO was priced at NT$30 a share, UBI Pharma opened higher at NT$37.5. Then, less than an hour into trading, it shot up six-fold to hit NT$220.
It’s a new stock, and its listed price was on the low end. If there’s a lot of capital flowing in and out, you’ll see more intense ups and downs.
UBI Pharma first appeared on the emerging stock market in 2015, but was delisted in October 2019. Its second debut was a roaring success, propelled by its parent company’s vaccine venture.
Whether United Biomedical’s Phase II trial is as successful as Medigen’s, and whether its vaccine obtains EUA, will impact the entire group’s performance on the market.
Taiwan’s emerging stock board has no limits on price fluctuation, and it restricts trading on leverage. Before making a purchase, traders need to ensure they have enough funds in their account.