LIAN - U.S.-listed Chinese pharma stocks are on the rise
Despite recent regulatory hurdles, the U.S.-listed Chinese pharmaceutical companies have made a comeback in the morning hours on Wednesday. Notable gainers include I-Mab (IMAB +17.9%), BeiGene (BGNE +20.8%), Legend Biotech (LEGN +9.3%), Zai Lab (ZLAB +30.4%), HUTCHMED < > Limited (HCM +20.6%), Gracell Biotechnologies (GRCL +13.6%), and LianBio (LIAN +29.2%) Zai Lab (NASDAQ:ZLAB), BeiGene (NASDAQ:BGNE) and Hutchmed (BGNE) were recently flagged by the U.S. Securities and Exchange Commission (SEC) for alleged violations of a U.S. law governing accounting regulations for foreign companies. Noncompliance of the Holding Foreign Companies Accountability Act could lead SEC to delist and even ban trading of their shares if regulators were not allowed to review their audits for three years in a row.
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U.S.-listed Chinese pharma stocks are on the rise