Why Dynavax Technologies Stock Is Sliding Today
Dynavax Technologies (NASDAQ: DVAX), a small-cap vaccine and immunotherapy company, is having another volatile day. Shares of the vaccine specialist are down by an eye-popping 17% as of 10:38 a.m. EDT Friday morning.
The biotech's shares are on a wild ride yet again because of news from pharma titan Merck (NYSE: MRK). Merck and its partner Ridgeback Biotherapeutics reported that their oral antiviral pill slashed hospitalization rates in adult COVID-19 patients by half. What's more, the duo noted that no patients on the drug died in the study. Eight people in the placebo component of the trial passed away.
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Source Fool.com
