Stock Alert: Dynavax Technologies Up 40% On COVID-19 Vaccine News

(RTTNews) - Shares of the small-cap biotech Dynavax Technologies Corp. (DVAX) surged over 40% on Tuesday morning after the company said it expects one or more of its collaboration partners in the development of a COVID-19 vaccine to begin a Phase 1 clinical trial as soon as July.

DVAX is currently trading at $6.86, up $2.00 or 41.26%, on the Nasdaq.

The company says it plans to provide an update on its early-stage collaborations in meetings with analysts and investors today.

Dynavax has made available its proprietary toll-like receptor 9 (TLR9) agonist adjuvant, CpG 1018TM, for the development of effective vaccines against COVID-19. CpG 1018 is the adjuvant used in HEPLISAV-B, an adult hepatitis B vaccine approved by the US FDA.

Meanwhile, Moderna, Inc. (MRNA) yesterday announced positive clinical results from the phase I study of its vaccine candidate, mRNA-1273, against coronavirus. The vaccine produced protective antibody in a small group of people, who participated in the study.