Boston, MA 06/11/2013 (wallstreetpr) – The shares of Dynavax Technologies Corporation (NASDAQ:DVAX) had declined by 43.32 percent to close at $1.40 per share for the end of last trading session on Monday. The shares of the company had been trading in the range of $1.38 to $1.84 per share during the day. This recent decline in share prices had plunged the Dynavax Technologies Corporation (NASDAQ:DVAX) to hit new bottom of 52 week low price level of $1.38 and the 52 week high price level of the company is at $5.10 per share.
Dynavax Technologies Corporation (NASDAQ:DVAX) is primarily engaged in the development and commercialization of treatment therapies for treating infectious and inflammatory diseases. The principal product candidate of the company is HEPLISAV, which is currently in the Phase III of clinical stage development and is aimed at providing earlier protection against Hepatitis B with fewer doses than those vaccines which are currently in the market.
Dynavax Technologies Corporation (NASDAQ:DVAX) had recently reported the feedback it had obtained from the Vaccines and Related Biological Advisory Committee of the Food and Drug Administration of United States. This meeting was in pursuance of obtaining approval for its HEPLISAV drug, which the company is presently developing in partnership with Glaxo SmithKline. The Advisory Committee had earlier in November 2012 recommended various additions to be made to the safety database of the vaccine.
While the Advisory Committee of FDA had strongly endorsed the demonstrated immunogenicity of the vaccine HEPLISAV, it also noted that the testing of HEPLISAV in discrete patient population did not provide to address the shortfall in safety database of the vaccine.
The shares of Dynavax Technologies Corporation (NASDAQ:DVAX) witnessed a heavy trading volume at 27.86 million shares on Monday, while the average trading volume of the company is at 1.59 million shares per day. Dynavax Technologies Corporation (NASDAQ:DVAX) presently holds 182.89 million shares outstanding in the market with an institutional ownership of 86 percent of its holdings.
