Dynavax shares rise 14% on promising cancer conference data

Discussion in 'Market News' started by sniper-academy, Apr 16, 2018.

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  1. sniper-academy

    sniper-academy Administrator Staff Member

    Sep 30, 2011
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    Dynavax Technologies Corp. shares rose 14% in premarket trade Monday after the company released promising data in conjunction with the annual American Association for Cancer Research meeting, happening this week. New results for the company's immuno-oncology drug SD-101 "showed a promising 40% [overall response rate] indicative of potential activity in this difficult-to-treat setting" of head/neck cancers, said RBC Capital Markets analyst Brian Abrahams. Another abstract from the company showed "encouraging" durability of responses to SD-101 in melanoma, he noted. "Though the data do not necessarily answer the question as to whether these patients were somehow easier to treat than those in historical studies, the consistency over time is at least directionally encouraging, in our view," Abrahams said. Dynavax shares have surged 34.8% over the last three months but slumped 0.5% month-to-date, compared with a 4.3% decline in the S&P 500 over the last three months and a 0.6% month-to-date rise.

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