Dynavax Technologies Corporation (NASDAQ: DVAX) is having an overwhelmingly strong start to the trading session this morning, and for good reason. The company announced positive interim data from a clinical trial over the weekend. Of course, the news has excited investors who are sending the stock on a run for the top. Today, we’ll talk about:
- The clinical data;
- what we’re seeing from DVAX stock as a result; and
- what we’ll be watching for ahead.
DVAX Announces Positive Clinical Data
As mentioned above, Dynavax Technologies is having an incredibly strong start to the trading session this morning after presenting positive clinical data over the weekend. In a recent press release, the company said that the presentation included interim data from its ongoing Phase 1b/2 SYNERGY-001 clinical trial. In the trial, the company is assessing SD-101 in combination with KEYTRUDA as an option for patients with advanced melanoma naïve to anti-PD-1/L1 therapy. The data was offered in a poster presentation and discussion session at the ESMO 2018 Congress in Germany.
In the release, DVAX said that the data came from a total of 87 patients and compared two different doses of SD-101. 47 patients received ≤2mg of SD-101 in 1-4 lesions and 40 patients received 8 mg in a single lesion. The data show that the treatment led to a 70% overall response rate in patients who received the ≤ 2 mg dose and a 48% overall response rate in patients receiving the 8 mg dose. The company also said that the data continue to show the treatment as being well tolerated with adverse events being transient, mild to moderate flu-like symptoms.
In a statement, Rob Janssen, M.D., CMO at DVAX, had the following to offer:
These results are encouraging because the overall response rate in the 2 mg group has remained consistent with the data presented at the 2018 American Society for Clinical Oncology annual meeting, even though the number of patients increased by more than 50 percent. In addition, median progression-free survival has not yet been reached, but statistically is expected to be at least 15.2 months, providing further validation of the potential benefit of the combination therapy… These data underscore the value of stimulating the innate immune response through TLR9 and build on clinical evidence around the proposed mechanism of action for SD-101.
What We’re Seeing From The Stock
One of the first lessons that we learn when we start to dig into the market is that the news leads to moves. In the case of DVAX, the news proved to be overwhelmingly positive. Not only did SD-101 generate data that shows statistically significant efficacy, it is proving to be safe and well tolerated. So, it comes as no surprise to see that excited investors are sending the stock on a run for the top. As is normally the case, our partners at Trade Ideas were the first to alert us to the gains. Currently (7:52), DVAX is trading at $12.95 per share after a gain of $2.06 per share or 18.92% thus far today.
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What We’ll Be Watching For Ahead
Moving forward, the CNA Fiannce team will continue to keep a close eye on DVAX. In particular, we’re interested in following the story surrounding the company’s continued work to bring SD-101 to market as well as the continued development of the rest of the company’s pipeline. Nonetheless, we’ll keep a close eye on the news and bring it to you as it breaks!
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