Dynavax Technologies Corporation (NASDAQ: DVAX) is off to an incredibly strong start in the trading session today, and for good reason. Early this morning, the company informed investors of an FDA advisory committee review of an experimental drug. Of course, this led to excitement among investors, sending the value of the stock toward the top. As is normally the case, our partners at Trade Ideas were the first to alert us to the gains. At the moment (9:42), DVAX is trading at $9.80 per share after a gain of $0.20 per share (2.08%) thus far today.
DVAX Gains On FDA Committee Review
As mentioned above, Dynavax Technologies is having an incredibly strong day in the market today after announcing that the United States Food and Drug Administration has informed the company that the Vaccines and Related Biological Products Advisory Committee will review HEPLISAV-B(TM) at its scheduled meeting which will take place on July 28th.
This is interesting, as the PDUFA date for HEPLISAV-B is only a few weeks away, coming in at August 10th. The FDA intends to communicate specific questions with the VRBPAC and will draft an agenda for the questions, which will be on its website at least 48 hours prior to the meeting. In a statement, Eddie Gray, CEO at DVAX, had the following to offer:
“The notification of a VRBPAC meeting comes as no surprise and thus we are prepared for it… The company looks forward to continuing work with the FDA through the review process and discussing HEPLISAV-B with the advisory committee.”
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What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will be keeping a close eye on DVAX. In particular, we’re interested in following the meeting with the VRBPAC and excited to learn whether or not the vaccine will find its way to approval, and subsequently, commercialization. We’ll continue to follow the story closely and bring the news to you as it breaks!
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