- Oops!Something went wrong.Please try again later.
Shares of Dynavax Technologies Corporation DVAX jumped 26.5% on Sep 22 after its Taiwan-based partner, Clover Biopharmaceuticals announced positive data from a pivotal study evaluating the latter’s COVID-19 vaccine candidate.
Clover was evaluating its vaccine candidate, SCB-2019, adjuvanted with Dynavax's CpG 1018 adjuvant in a phase II/III study — SPECTRA. Data from the study demonstrated that immunization with the candidate led to overall efficacy of 100% against severe COVID-19 and hospitalization, and 84% against moderate-to-severe COVID-19 caused by currently leading strains of coronavirus, including Delta, Gamma, and Mu variants. The vaccine candidate achieved an overall efficacy of 67% against COVID-19 infection of any severity caused by any strain in the study.
The SPECTRA study evaluated SCB-2019 adjuvanted with CpG 1018 adjuvant against different variants of the original SAR-CoV-2 virus. Data from the study demonstrated an overall efficacy of the vaccine candidate of 79%, 92%, and 59% against the Delta variant, the Gamma variant, and the Mu variant, respectively. The study data also demonstrated that the vaccine reduced the risk of breakthrough infections.
Shares of Dynavax have surged 322.3% so far this year compared with the industry’s growth of 0.6%.
Image Source: Zacks Investment Research
Although the leading COVID-19 vaccine makers — Pfizer PFE, Moderna MRNA, and J&J JNJ — have already supplied millions of doses to the world, coronavirus vaccines under development also hold strong potential as there is requirement of several billions of doses across the globe. Several companies developing vaccines may benefit from the current COVID-19 situation. Clover’s strong efficacy against the prevalent Delta variant and breakthrough infections make it one of the top contenders to gain significantly. Per Clover, the Delta variant is the most prevalent strain of the coronavirus currently across the globe with 90% of infection cases caused due to the variant.
Moreover, Clover’s agreement with the Coalition for Epidemic Preparedness Innovations (“CEPI”) will guarantee expedited distribution of the vaccine, once approved/authorized.
Dynavax’s shares also gained last month following the rollout of its Taiwan-based partner Medigen Vaccine Biologics’ COVID-19 vaccine — MVC-COV1901 — in the East Asian country.
Net product revenues from CpG 1018 adjuvant during the second quarter of 2021 were $39.0 million. We note that successful distribution/commercialization of Clover’s and Medigen’s COVID-19 vaccines following an authorization/approval will also be beneficial for Dynavax as it will generate additional revenues under its collaboration with Clover.
Dynavax Technologies Corporation Price
Dynavax Technologies Corporation price | Dynavax Technologies Corporation Quote
Dynavax currently has a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Dynavax Technologies Corporation (DVAX) : Free Stock Analysis Report
Johnson & Johnson (JNJ) : Free Stock Analysis Report
Pfizer Inc. (PFE) : Free Stock Analysis Report
Moderna, Inc. (MRNA) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research