WUXI APPTEC (02359.HK) -0.100 (-0.242%) Short selling $51.31M; Ratio 7.285% learned that on 15 May 2024, the US House Committee on Oversight and Accountability voted to report to the House a draft bill H.R.8333, which is an amended version of the predecessor bill H.R.7085 for the proposed Biosecure Act. Bill H.R.8333 incorporates certain amendments including, among others, the removal of certain alleged findings against WUXI APPTEC and the addition of a “grandfather” clause that exempts existing contracts entered into before the effectiveness of the proposed restrictions.
However, despite existing processes at US government agencies for evaluating national security concerns, Bill H.R.8333 still includes WUXI APPTEC's name within the definition of a “biotechnology company of concern”, which is a preemptive and unjustified designation without due process that the company strongly object to. WUXI APPTEC firmly believes that it has not posed, does not pose, and will not pose a security risk to the US or any other country and it has not been subject to any sanction by the US government agencies.
WUXI APPTEC also reiterates that it does not have a human genomics business or collect human genomic data in the US, China or elsewhere.
(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2024-05-16 16:25.)
