BEIJING, May 1, 2017 /PRNewswire/ -- Sinovac Biotech Ltd. (NASDAQ: SVA), a leading provider of biopharmaceutical products in China, has filed a Form 12b-25 Notification of Late Filing with the U.S. Securities and Exchange Commission that discloses that the Company is unable to file its annual report on Form 20-F for the year ended December 31, 2016 (the "2016 Annual Report") within four months after the end of year 2016.
Additional time is needed by the Company's Audit Committee in its internal investigation related to a recent report regarding the allegations raised in a research report by Geoinvesting. The investigation has slowed completion of the Company's financial statements and audit for the year ended December 31, 2016. The filing of Sinovac's 2016 Annual Report is delayed as a result.
Sinovac Biotech Ltd. is a China-based biopharmaceutical company that focuses on the research, development, manufacturing, and commercialization of vaccines that protect against human infectious diseases. Sinovac's product portfolio includes vaccines against hepatitis A and B, seasonal influenza, H5N1 pandemic influenza (avian flu), H1N1 influenza (swine flu), mumps and canine rabies. In 2009, Sinovac was the first company worldwide to receive approval for its H1N1 influenza vaccine, which it has supplied to the Chinese Government's vaccination campaign and stockpiling program. The Company is also the only supplier of the H5N1 pandemic influenza vaccine to the government stockpiling program. Sinovac's newly developed innovative vaccine against HFMD caused by EV71 is ready for market launch. The Company is currently developing a number of new products including a Sabin-strain inactivated polio vaccine, pneumococcal polysaccharides vaccine, pneumococcal conjugate vaccine and varicella vaccine. Sinovac primarily sells its vaccines in China, while also exploring growth opportunities in international markets. The Company has exported select vaccines to 10 countries in Asia and South America. For more information, please visit the Company's website at www.sinovac.com.
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SOURCE Sinovac Biotech Co., Ltd.