Dynavax Technologies Corporation (NASDAQ: DVAX) is having an overwhelmingly strong start to the trading session this morning after releasing new data at an annual research meeting. Of course, the positive data led to strong statements by analysts in the audience and excitement among investors, sending the stock upward. Today, we’ll talk about:
- The data;
- what we’re seeing from DVAX;
- and what we’ll be watching for ahead.
DVAX Heads Up On New Data
As mentioned above, Dynavax is heading up in the market this morning after the company released promising data surrounding SD-101. The data was released at the annual American Association for Cancer Research meeting that is taking place throughout the week. At the meeting, the company provided a presentation surrounding its immuno-oncology drug, known as SD-101. The data proved to be positive, showing a strong overall response rate in the treatment of otherwise difficult-to-treat illnesses. In a statement, Brian Abrahams, RBC Capital Markets Analyst, pointed out that the data “showed a promising 40% ORR indicitive of potential activity in this difficult-to-treat setting,” Of course that setting being head and neck cancers, the target of this treatment.
What We’re Seeing From The Stock
One of the first things that we learn when we start to invest or trade is that the news moves the market. In this particular case, the news proves to be overwhelmingly positive. After all, strong data shows promise in SD-101 to treat cancers that have a large unmet medical need. So, it’s no surprise that Dynavax Technologies is running in the market today. As is almost always the case, our partners at Trade Ideas were the first to alert us to the gains. At the moment (10:36), DVAX is trading at $20.60 per share after a gain of $0.85 per share or 4.30% thus far today.
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What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will continue to keep a close eye on DVAX. In particular, we’re interested in following the progress associated with SD-101 and we’re excited to see the data as it continues to be released. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!
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