(Yicai Global) Nov. 29 -- Shares of China National Pharmaceutical Group, also known as Sinopharm, rose after the Covid-19 nasal-spray drug developed by a subsidiary received Chinese regulatory approval to begin clinical trials.

Sinopharm [SHA: 600511] closed up 4 percent at CNY28.06 (USD3.91) a share today. The stock has lost 11 percent of its value so far this year.

China’s National Medical Products Administration approved the inhaled monoclonal antibody F61 for human trials on Nov. 25, CNBG announced on its official WeChat account yesterday.

This spray is relatively easy to use, as it can be directly applied to parts of the upper respiratory tract of the nasopharynx and forms a protective film on the nasal mucosa, which can prevent the coronavirus from entering host cells, CNBG said.

The antibody, which uses the peripheral blood mononuclear cells of cured Covid-19 patients as raw material, is obtained by using the phage display technology, CNBG noted.

During real-world research, the spray was safe and efficacious after being used in groups of people exposed to Covid in various regions of China, effectively lowering the infection rate of close contacts.

Editor: Futura Costaglione