Exponential Volume Surge & Price Tank in Dynavax (DVAX)

Posted in General 
October 22nd, 2008

Dynavax Technologies Corp. (NASDAQ: DVAX) is seeing its stock trading down some 75% as of 10:25 AM EST This morning.  The company gave an update on an FDA clinical hold on its investigational vaccine HEPLISAV with partner Merck & Co. (NYSE: MRK), and as you can imagine it is looking rather grim.  Here is a full analysis and summary at 24/7 Wall St. for the clinical hold and for the company’s ability to financially stay afloat.

The newly reduced market cap here is now only $11.3 million after a 75% price drop down to $0.28.  Before today its 52-week trading range was $0.97 to $6.55.  We have also seen more than 7 million shares trade hands, while the average daily volume is only about 180,000 shares.  Traders believe this one is toast.

Jon C. Ogg
October 22, 2008

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