Source: Taiwan News by Matthew Strong

TAIPEI (Taiwan News) — Local vaccine developer Medigen Vaccine Biologics Corporation announced Wednesday (June 9) that phase 2 clinical trials of its COVID-19 vaccine had been completed, leading to trading in its shares on the Taiwan Stock Exchange being suspended the following day.

Medigen’s stocks suffered a rocky week, beginning with sharp declines followed by steep rises as Taiwan's need for vaccines becomes ever more paramount. All vaccines in Taiwan have so far have been imported despite politically motivated problems caused by China.

Earlier reports said Medigen and a local competitor, United Biomedical, might produce a total of 10 million vaccines to be ready in July.

At a news conference scheduled for Thursday (June 10), Medigen will announce the results of its clinical trials and hand the relevant information to the Food and Drug Administration (FDA) to apply for emergency use authorization (EUA), CNA reported.

The Taiwanese company was planning to “unblind” the second-phase trial process, allowing participants to know whether they received the real new vaccine or a placebo, according to the report. More than 3,700 people were recruited as volunteers to serve in the trials.