AB&B Bio-Tech (HKG:2627) said Chinese authorities have placed its flagship flu vaccine on a preliminary list for possible insurance coverage, according to a Hong Kong bourse filing Wednesday.

The company's quadrivalent subunit influenza vaccine, Huierkangxin, made it to the National Healthcare Security Administration's preliminary list for insurance reimbursement and was the only product of its kind to do so, AB&B Bio-Tech said.

Huierkangxin remains the first and only quadrivalent subunit influenza vaccine to be approved in China as of July 21, AB&B Bio-Tech said.

Shares of the pharmaceutical company jumped 13% in Wednesday morning trade.