Dallas, Texas 12/27/2013 (FINANCIALSTRENDS) – Dynavax Technologies Corporation (NASDAQ:DVAX) is a $355 million market capped drug maker which has been posting impressive gains at the browsers in the past six months. But during trading yesterday the stock posted a 3 percent dip in its valuation yesterday which saw its share price come down to $1.94 from previous day close of $2 per share.
Dynavax Technologies Corporation (NASDAQ:DVAX) had in December second week confirmed that it had indeed responded with all the relevant information to the questioner it received from European Medicines Agency earlier in the month. Readers should note that as part of any new drug application request processing monitoring and regulatory agencies both in U.S and Europe track and study data on a 60 day interval form the tests that the drug firms are conducting on their target drug for which the application is submitted.
In this case Dynavax Technologies Corporation (NASDAQ:DVAX) received the questioner related to the 120 day time stamp from the Committee for Medicinal Products for Human Use which is the investigative body of European Medicines Agency for tests it is conducting on its target drug HEPLISAV which is being positioned as a replacement for existing hepatitis B vaccine in adults.
Readers should note that the next batch of questions covering the 180 day time period of testing would be received by Dynavax Technologies Corporation (NASDAQ:DVAX) in the January to March time frame in 2014. When this news got out, the stock of Dynavax Technologies Corporation (NASDAQ:DVAX) had scripted strong forward movement and appreciated by 13.4 percent in the past one month.
This development stage drug designer and manufacturer has accumulated net loss of $74 million in the trailing 12 months and has seen a eye brow raising 375 percent increase in insider transactions this past six months. Its share holders and 167 employees would be hoping that the new drug application progresses quickly to the next stage.