(Yicai Global) Nov. 2 -- Shares of Cansino Biologics soared nearly 71 percent after the biotech firm said more Chinese cities are starting to administer the world's first inhaled Covid-19 vaccine.

Cansino's stock price [HK: 6185] closed up 63.4 percent to HKD141 (USD17.96). It hit HKD147.5 earlier in the day. The shares have almost quadrupled in value over the past month as Shanghai started using the oral-taken vaccine in late October.

Cansino's mainland-listed shares [SHA:688185] also surged 20 percent to hit daily limit at CNY253.5 (USD34.81).

After Shanghai, 13 cities in eastern Jiangsu province have begun working on adopting the novel product, the Tianjin-based company said in a statement on WeChat yesterday. Among the 13 cities, Wuxi, Huaian, and Yangzhou have started accepting bookings.

The National Medical Products Administration approved the emergency use of the no-needle product in September. The inhaled vaccine, which uses the same type of adenovirus vector as Cansino's Covid-19 jab, can function as a booster shot, providing immunization for at least six months, according to the firm.

The company could use an income booster as the conventional Covid-19 vaccine demand has slumped this year amid increased control over the pandemic around the world.

In the first three quarters of this year, Cansino recorded a net loss of CNY474 million (USD65.1 million) amid a CNY526 million asset impairment due to changes in vaccine conditions, according to the firm's earnings report. Revenue fell by 77 percent to CNY707 million from a year ago.

Editor: Emmi Laine, Xiao Yi