Why Dynavax Stock Was Crushing It on Friday
One of the more up-and-down coronavirus stocks, Dynavax Technologies (NASDAQ: DVAX), had quite the up day on Friday. The company's shares had levitated by almost 18% late in the session after it delivered its latest set of quarterly figures.
For its second quarter, the results of which were published immediately after market hours on Thursday, Dynavax booked total revenue of $256.5 million. That was nearly five times as much as it earned in the same quarter of last year.
The bulk of this was due to its still-hot product, the CpG 1018 adjuvant, which is used in coronavirus vaccines. An adjuvant is a substance that enhances the immune response produced by a vaccine. Net sales of CpG 1018 were nearly $223 million for the quarter, well above the $39 million in the year-ago period. Dynavax's remaining sales came from its hepatitis B vaccine, Heplisav-B.
Source Fool.com
