(Yicai Global) Nov. 9 -- Shares of Staidson Beijing Biopharmaceuticals surged by the exchange-imposed limit to the highest in six months after the Chinese drugmaker disclosed the updates of the combined clinical trials of two jabs to treat severe and critical Covid-19 cases.

Staidson [SHE: 300204] closed 20 percent up at CNY15.17 (USD2.09) today, giving it a market value of CNY7.2 billion (USD996.5 million).

The combination of STSA-1002 and STSA-1005, two injections co-developed by Staidson and its US unit Staidson Biopharma, was recently administered to first volunteers in good health at a Chinese hospital, the Beijing-based innovation drug developer said in a statement late yesterday.

The mix use of the two jabs is expected to get the best form each drug's advantages to stop the illness from worsening by limiting the excessive activation of the immune system while avoiding thrombosis complications, the company said.

Staidson did not specify the trial period and financial investment needed to test the drug's combined use. The firm announced it got the go-ahead from China's National Medical Products Administration for clinical trials in August.

The two injections are about to complete their separate Phase I clinical trials in the US, Staidson added, noting that the first phase of STSA-1002's clinical trial in China is ongoing.

The first China-made Covid-19 treatment Azvudine was formally approved for sale in July, while several others are still in clinical trials.

Editor: Futura Costaglione