WXIBF - Wuxi Biologics closer to get off U.S. 'unverified' trade list - Reuters

• WuXi Biologics ( OTCPK:WXXWY ) ( OTCPK:WXIBF ) gained nearly 12% on Tuesday after Reuters reported that the Wuxi, China-based life sciences company is one step closer to getting off the U.S. Commerce Department's "Unverified List."
• According to a department official, Chinese authorities permitted a U.S. export control officer to visit at least one company in the city of Wuxi last week for inspections.
• "I do have some good news," the Commerce Department official noted during a conference on export controls in Washington Thursday.
• "We were able to get some end-use check movement this week in Wuxi." While the official did not identify the company, citing a person familiar with the matter, Reuters said that a check was conducted at Wuxi Biologics ( OTCPK:WXXWY ) last week.
• In February, Wuxi ( OTCPK:WXXWY ) plunged after the U.S. Commerce Department announced that two of its subsidiaries in Shanghai and Wuxi would be added to the department's "Unverified List" (UVL).

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