Dynavax stock surges 53% on new FDA review of Hep B vaccine and Trump statements about FDA deregulation
Dynavax Technologies Corp. shares surged 54.4% in afternoon trade Wednesday after the company said the Food and Drug Administration would again review its Hepatitis B vaccine, after the regulator decided not to approve it last fall. Dynavax said it has responded to the additional information requested by the FDA, and that the FDA plans to make the decision by August 10. The surge may also be in part attributable to comments made by President Donald Trump during his first Congressional address late Tuesday, in which he said the FDA's approval process was "slow and burdensome" and that restraints needed to be removed. Dynavax shares have surged 58.0% over the last three months, compared with a 9.6% rise in the S&P 500 .
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.