Why Dynavax Technologies Stock Sank in September
Shares of the small-cap biotech Dynavax Technologies (NASDAQ: DVAX) lost 22.4% of their value during the month of September, according to data provided by S&P Global Market Intelligence. The odd part is that the biotech's stock nosedived last month in the absence of a company-specific event. Dynavax's stock appears to have fallen victim to nothing more than speculators moving on to greener pastures.
The biotech's shares doubled at one point earlier this year, thanks to the hype surrounding its proprietary toll-like receptor 9 agonist adjuvant CpG 1018. CpG 1018 is the same adjuvant used in the biotech's FDA-approved hepatitis B vaccine, Heplisav-B. Dynavax is currently collaborating with multiple partners to evaluate this commercial-stage adjuvant as part of a COVID-19 vaccine.
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Source Fool.com
