CanSino Biologics Inc.'s experimental coronavirus vaccine showed promising results in a mid-stage clinical study, paving the way for the next phase of tests as the Chinese company jostles with Western pharma giants to deliver one of the first pandemic vaccines.

The shot was shown to be safe and induced an immune response, according to a study released in the medical journal The Lancet, reinforcing the company's status as a front-runner in the vaccine race. Still, CanSino shares fluctuated in Hong Kong trading on Tuesday, rising about 1% by noon after erasing an earlier gain of as much as 7.9%.

It's still too early to determine whether the vaccine candidate effectively protects against infection. The study found that people with a high level of pre-existing immunity to an adenovirus used in the delivery method were less able to generate antibodies against the coronavirus. The authors also stressed that no participants were exposed to SARS-CoV-2 virus after vaccination.

Tianjin-based CanSino emerged as one of the fastest movers on a vaccine in May, when it became the first firm to publish a full scientific study on its early human trials -- a crucial step because it allows researchers to assess a pharmaceutical product's potential.

SOURCE: ALJAZEERA