Dynavax Technologies Corporation (NASDAQ:DVAX) shares are soaring this morning, after the company released a great report concerning their hepatitis B drug, HEPLISAV-B. The study which compared the drug to one that is currently available on the market, Engerix-B, seemingly showed better results than the already marketed drug.
Dynavax Technologies Corporation’s (NASDAQ:DVAX) HEPLISAV-B showed a higher rate of seroprotection than its competitors in the Phase 3 study. Safety tests were also deemed successful, in comparison to the competitor.
“We are delighted to report these topline results from HBV-23 and confirm our intention to resubmit the HEPLISAV-B BLA by the end of March. These results support our belief that HEPLISAV-B, if approved, could offer benefits to adults at risk for hepatitis B, particularly given that these significant differences in seroprotection were demonstrated in a controlled setting, where compliance is optimized,” said Eddie Gray, Chief Executive Officer.
Dynavax Technologies Corporation (NASDAQ:DVAX) hopes to resubmit their HEPLISAV-B Biologics License Application by the end of the first quarter of this year.
The stock is up 21.58% or $4.57 following the news, hitting $25.75 per share. About 1.55 million shares traded hands or up 169.90% from the average. DVAX has declined 3.73% since June 3, 2015 and is currently downtrending. It has outperformed the S&P500 by 2.13%.
The institutional sentiment increased to 2.39 in Q2 2015. It’s up 0.80, from 1.59 in 2015Q2. The ratio increased, as 14 funds sold all their Dynavax Technologies Corporation shares they owned while 30 reduced their positions. 41 funds bought stakes while 64 increased their total positions. Institutions now own 39.40 million shares which is 47.85% more than the previous share count of 26.65 million in 2015Q2.
New Leaf Venture Partners L.L.C. holds 15.17% of its total portfolio in Dynavax Technologies Corporation, equating to 712,498 shares. Clovis Capital Management Lp owns 425,000 shares representing 2.78% of their total US portfolio. Moreover, Amici Capital Llc has 2.32% of their total portfolio invested in the company, equating to 1.98 million shares. The Massachusetts-based Cormorant Asset Management Llc has a total of 2.25% of their portfolio invested in the stock. Claar Advisors Llc, a New York-based fund reported 166,100 shares owned.
Since October 9, 2015, the stock had 1 insider purchase, and 0 insider sales for a total of $2,334 in net activity. Janssen Robert bought 100 shares worth $2,334.
Dynavax Technologies Corporation is a clinical-stage biopharmaceutical company. The company has a market cap of $813.21 million. The Firm uses toll-like receptor (TLR) biology to discover and develop vaccines and therapeutics. It currently has negative earnings. The Company’s development programs are organized under three areas of focus: vaccine adjuvants, cancer immunotherapy, and autoimmune and inflammatory diseases.