U.S. Markets closed

Dynavax Technologies Corporation (DVAX)

NasdaqGS - NasdaqGS Real Time Price. Currency in USD
Add to watchlist
7.80+0.47 (+6.41%)
At close: 4:00PM EDT
Sign in to post a message.
  • M
    Mladen
    So Goldman Sachs did buys all those notes at the end which is a great news . Dvax is officially debt free company with cash on their hands and so much revenue potential ahead
  • M
    Mladen
    Naked sort volume is helping you understand this - stock is going up slowly in last 4 days without shorts covering, actually retail buyers and institutions are the one who are accumulating more and more and shorts are selling even more stocks trying to prevent stock going up following that accumulation , but it’s not working for them since accumulation is high and people are convinced in Dvax future as crazy big revenue deals are basically sealed . I think over 80% ownership is institutional here . In less then 2 week we gonna have stock back to 9$ Even without shorts buying back anything and that gonna be path for their disaster since there will be explosion of uptrend on great news . And great news are coming that’s imminent. There is 4 partnerships with Dvax and they are all in last phase or so of testing , and just a reminder if Dvax adjuvant wasn’t good enough then there wouldn’t be this many partners and they wouldn’t enter last phase of testing , thank you and have a nice weekend
  • T
    Terry
    Pretty severe reaction to a positive development. Getting rid of a 10% loan in favor of a 2.5% loan used to be positive in my book. It was always going to happen...just surprised by the reaction. I guess there is some risk of dilution, but it appears they have addressed that also. It all rides on continued success of CPG anyway and a few of these trial getting through to EUA.

    It's interesting...the real catalyst for this being a non event should have been the post marketing results on Heplisav. This completely de-risks the stock in my opinion. That was a long overhang and to have that cloud removed should be viewed much more favorably. The stock price doesn't even reflect the value of Heplisav at this point...far from it. It's best in class...by a long way. When has that ever been a negative to value.

    I have a feeling we are going to look back at this sell off and think this was a golden buying opportunity. I added this morning.
  • K
    Knowledge=Power
    DVAX
    Company Overview:
    Dynavax Technologies is a small California based vaccine developer. The company has leveraged its toll-like receptor [TLR] immune modulation platform to produce a hepatitis B vaccine (Heplisav-B) that has resulted in Heplisav-B, which is superior in a couple of important ways from long-term standard of care Entergix-B. This vaccine is in the early stages of its rollout (more on that in the next section).

    However, the company's sales growth is now being drive by an adjuvant called CpG 1018 that was originally developed to complement HEPLISAV-B. That adjuvant has now become core to at least the near- and medium-term future of the company. The adjuvant looks destine to become in conjunction with some COVID-19 vaccine products. With the decline in the shares today, the equity is back down near the $8 level and has a market capitalization right around $900 million.

    Quarterly Highlights:

    Last Thursday, Dynavax reported a one cent a share profit on a GAAP basis. This was better than the consensus calling for two cents a share loss for the quarter. In the first quarter of 2020, the company posted a 15 cent a share loss.

    Source: Company Presentation

    More importantly, revenue growth exploded during the quarter. The company had sales of just more than $83 million for the quarter, beating expectations by almost $25 million and representing better than a 650% increase over the same period a year ago. Heplisav-B sales actually fell to $8.3 million during the quarter from $10.5 million. However, this was due to the impact of the pandemic. Market share in the space actually grew to 27% from 21% in the first quarter of 2020. Leadership still believes Heplisav-B can achieve $600 million in annual sales just in the United States (see above).

    The driver of the huge revenue beat was the net product sales for CpG 1018 of $74.6 million during the quarter. The company is partnering with several companies to provide this adjuvant to multiple Covid19 vaccine candidates. The company gave a brief update on the progress of these candidates (Valneva being the most important one) in trial development on its first quarter earnings press release.

    In March, Clover Biopharmaceuticals dosed the first participant in SPECTRA, a global Phase 2/3 clinical trial for its trimeric SARS-CoV 2 spike [S] protein vaccine adjuvanted with CpG 1018.
    In April, Valneva reported positive initial results for Part A of the Phase 1/2 clinical trial of its VLA2001 COVID-19 vaccine candidate adjuvanted with CpG 1018 and subsequently initiated a pivotal Phase 3 clinical trial.
    In April, Medigen published positive Phase 1 clinical study data demonstrating neutralizing antibody titers 1.8 to 3.9 times that of human convalescent sera for its COVID-19 vaccine candidate adjuvanted with CpG 1018 and has completed enrollment of over 4,000 participants in its on-going Phase 2 clinical trial.
    ValnevaCommercial Supply Agreement

    Source: Company Presentation

    Analyst Commentary & Balance Sheet:
    Since first quarter results hit, William Blair, Evercore ISI ($20 price target) and H.C. Wainwright ($16 price target) have reissued Buy ratings on DVAX. The company ended the quarter with just over $230 million in cash, cash equivalents and marketable securities on the balance sheet after posting a slightly better than a breakeven quarter after a net loss of $12.6 million in the same period a year ago.

    This morning the company announced it was doing a $200 million capital raise via convertible senior notes. The proceeds from this offering will 'be used to repay outstanding debt, costs of the capped call transactions and for general corporate purposes'. Shares fell more than 15% in early trading today on this announcement, but should rebound once pricing terms are announced. The company has leverage thanks to the standout quarter and will pay down more onerous liabilities with this raise.

    Verdict:
    The company has some milestones on the horizon. Obviously, there will be numerous trial readouts throughout the year from its partners developing various Covid19 vaccines, which will be key to the longer-term demand for CpG 1018. The company will also launch Heplisav-B in the European Union, starting with Germany.

    The emergence of CpG 1018 has turned the company slightly profitable from posting losses. It has also bought time for Heplisav-B to continue to gain sales traction. It is hard to gauge how durable CpG 1018 will be at this point given it is hard to predict if the pandemic will be done by year-end or whether this is something we will need to deal with on an annual basis like the flu.

    That said, Dynavax seems to be in a much stronger position than it was a year ago, even as the Covid19 outbreak has slowed Heplisav-B sales growth. I added exposure to this stock earlier this morning on the drop from the announcement of the capital raise via covered call orders.

    A penny saved is worth two pennies earned . . . after taxes. "― Randy Thurman

    Bret Jensen
    Bullish
  • B
    Baxter
    Steady buying all day....decent volume to supporting upward direction.
    $8 by the close would be really nice.
  • B
    Baxter
    Nice 250k share block trade just before noon on Friday, spiked the buying for the rest of the day.
    We need to get back into the 8's, next week.
  • O
    Obiwan
    Manipulation!! Accumulate!!! Congrats to long who held during the plunge.
    Bullish
  • D
    Donald
    I just read an article (QUARTZ market immunity) which said That Pfizer reported $3.5 billion from
    the 1st quarter of 2021. Moderna sold $1.7 billion worth of vaccines in the same period turning a profit
    for the 1st time in the company's history. BioNTech(vaccine in partnership with Pfizer expects $15B
    in sales this year (with an expected profit of above 25%). What do they think DVAX will have when
    the get Hep- B and Covid vaccines going in 3rd world countries and England & France & etc. It will
    not be peanuts. What's up market?
  • j
    jayesh
    Effective interest rate for net proceed of 176.1million Dollar is 5.66% with 5year loan which was due in 2years. Credible GS as new investor without any dilution is definitely done to take advantage of short sellers and weak hands.
    Time to buyback by longs who sold out for lack of clarity in the deal.
    Once Shorts figure this out, there will be huge reward.
    Bullish
  • S
    Stalag
    Mladen, is GS the one shorting prior to news release? Looks like DVAX management and GS did no want price to go up. Hence release of 200 mil loan right after earnings release c
  • D
    Drunkard
    A great reminder for fellow dvax followers from years back that may be looking to catch up - not only is there this amazing covid news with CpG 1018 and obviously Heplisav European approval, but the post marketing study that was required following the 2017 Heplisav approval - the one to check for acute myocardial infarction against Engerix - those results finally came out a few weeks ago and they are great! Over 30,000 patients on each side were given Heplisav and Engerix and the study not only confirmed the safety profile for Heplisav, and by extension CpG 1018...but the rate of acute myocardial infarction was actually higher on the Engerix side! So you could not have had better results for that. The only reason I mention it as it was such a big deal when Heplisav was approved, and now you have clear results and Europe approved. Per CEO Ryan Spencer, Germany will be open for business for Heplisav by the end of the year.

    -----
    from April 27th, 2021 press release:

    The post-marketing observational, non-inferiority surveillance study (HBV-25) evaluated the occurrence of AMI in approximately 31,000 patients who received HEPLISAV-B® and approximately 38,000 patients who received Engerix-B. The AMI rate per 1000 person years was 1.67 for HEPLISAV-B and 1.86 for Engerix-B. The hazard ratio comparing the rate of AMI in the HEPLISAV-B group with the Engerix-B group was 0.92 with a 95% confidence interval of 0.63 to 1.32. The upper bound of the 95% confidence interval of the hazard ratio comparing the rate of AMI in the HEPLISAV-B group to the Engerix-B group was less than 2.0, meeting the primary endpoint. Thus, these results provide evidence there is no increased risk of AMI associated with vaccination with HEPLISAV-B compared to Engerix-B. The study was conducted by Kaiser Permanente Southern California's Center for Vaccine Safety and Effectiveness.

    "These results reinforce our previous clinical data regarding the safety of HEPLISAV-B and support our confidence in its ability to prevent hepatitis B infection in adults," commented Robert Janssen, MD, Chief Medical Officer. "We are pleased to collaborate with Kaiser Permanente Southern California's Center for Vaccine Safety and Effectiveness and appreciate their rigorous conduct of this study."
  • B
    Baxter
    Up 6% on good volume....not complaining, but we have a lot of ground to make up.
  • S
    StephenUK
    Well considering the offering is for 200m and the market cap is £1bn I guess it’s a positive we are ‘only’ down 12% and not 20%. In truth it appears this offering wipes out debt of an equivalent amount so shouldn’t actually affect the share price but markets nowadays will seize on any excuse
  • F
    FatWodLong
    2.5% interest rate with 2026 maturity date versus current rate of 10% maturing in 2023...hmm I wonder which is better? Convertible strike price of $10.47 no sooner than May 2024 and has to be trading at 130% of that price ($13.61) for at least 20 trading days. I recommend loading up at this gift of a price in the $7s. DVAX is hiring about 50 people which is a 20% increase to their workforce and is mostly sales positions. Getting ready for major growth in 2nd Half of 2021 and beyond.
  • F
    FatWodLong
    The refinancing is very good for dvax and investors. The $200M note has a maturity date in 2026 and will immediately payoff the $180M Debt with CRG that’s due end of 2023 which greatly increases cash flow. I can only guess the interest rate will be better as well versus the 10% with CRG. Reading the news release they’ve structured it in a way to offset share dilution if any portion of the debt is converted to shares. I have to read the specifics in more detail. The headline was a knee-jerk reaction but after reading was a good thing.
  • T
    Timothy
    Two really positive take away from the CEO Teleconference this past week.

    1. CEO Ryan Spencer stated "2021 is Transformative year for DVAX." He didn't say just Great year, but life changing momentous Year for $DVAX biotech this year. He also mentioned multiple Vaccine partnerships are gearing up for EUAs by Valneva, Madigen, Bio E and Clover pharmaceuticals.

    Lastly DVAX didn't dilute the SHARES by giving out stock options at $9.73. Which is a bold statement from DVAX. It's was saying our SP will be heading much higher very soon. Lots of positives. DVAX biotech only going higher
    Bullish
  • R
    RogerR
    Thailand reported mice data.

    Mice Immunized with the Vaccine Candidate HexaPro Spike Produce Neutralizing Antibodies against SARS-CoV-2.Vaccines 2021
     
    Here, we report that the spike protein HexaPro offers a promising candidate for the SARS-CoV-2 vaccine. Mice immunized by the recombinant HexaPro adjuvanted with aluminum hydroxide using a prime-boost regimen produced high-titer neutralizing antibodies for up to 56 days after initial immunization against live SARS-CoV-2 infection. Also, the level of neutralization activity is comparable to that of convalescence sera.
     
    The human trial dosed all adults in April; NCT04764422.  Phase 1 will evaluate the safety, tolerability and immunogenicity COVID-19 vaccine (NDV-HXP-S) administered at different doses levels (1, 3, and 10 µg) without adjuvant, and at two different dose levels (1 and 3 µg) with the adjuvant CpG 1018 among healthy adults, (age 18-59 years, 210 subjects)..
     
    https://doi.org/10.3390/vaccines9050498
    Updated and revised versions of COVID-19 vaccines are vital due to genetic variations of the SARS-CoV-2 spike antigen. Furthermore, vaccines that are safe, cost-effective, and logistic-friendly are critically needed for global equity, especially for
    Updated and revised versions of COVID-19 vaccines are vital due to genetic variations of the SARS-CoV-2 spike antigen. Furthermore, vaccines that are safe, cost-effective, and logistic-friendly are critically needed for global equity, especially for
    doi.org
  • B
    Baxter
    Lots of fresh buying, driving the volume up late friday afternoon, but holders are still numb from the collapse from $11 and the selling resistance is great, making it hard for the gains to hold.
    We grind higher......I wish someone would call Crammer, on Mad Money for on air, in the Lightning Round and ask him what he thinks of DVAX. I tried 3x's with negative results. We know crammer follows DVAX, because he recommended it back in 2012, when I first bought in, before the FDA approval of Hepislav.
  • b
    balibob
    "Evercore ISI analyst Joshua Schimmer maintained a Buy rating on Dynavax (NASDAQ:DVAX) Technologies Corp. on Friday, setting a price target of $20, which is approximately 103.87% above the present share price of $9.81.

    Schimmer expects Dynavax Technologies Corp. to post earnings per share (EPS) of -$0.14 for the second quarter of 2021.

    The current consensus among 3 TipRanks analysts is for a Strong Buy rating of shares in Dynavax, with an average price target of $18.
    The analysts price targets range from a high of $20 to a low of $16."
    Should be an interesting week.
  • M
    Mladen
    Terry there is no severe reaction , price average still 9.44$ . Only shorts selling and not covering back and trying to scare people . This is loading zone . Do u know how much is 80 million vaccines per month starting august , only from India ,+ 3 more cooperations , do u know how much is that in revenue????? .