Dynavax Technologies Corporation (DVAX) has announced that the Committee for Medicinal Products for Human Use (CHMP) of the European Medicines Agency has approved the application of the HEPLISAV-B vaccine to prevent hepatitis B.
In the United States, the HEPLISAV-B vaccine was approved in 2017. It consists of two doses instead of the normal three doses and has a higher efficacy of about 95%. There is a strong global market for an affordable hepatitis B vaccine, which in the first nine months of this year will boost Heplisav-B sales of about $26 million. The hepatitis B vaccine remains important. Transmission of the virus is growing rapidly, and more than 250 million people worldwide have been infected.
Good news for Dynavax is the optimistic recommendation from CHMP, as it foreshadows the likelihood of approval of Heplisav-B in Europe soon. The European Union’s population is about 35 percent higher than that of the United States. The sales potential would also increase significantly if Heplisav-B receives permission to use its vaccine. Dynavax has already begun to expand the marketing department in order to plan for Heplisav-B sales.
Dynavax Technologies Corporation designs products based on immune-stimulatory sequences and aims to market them. The company has developed treatment and preventive products for allergies, infectious and chronic inflammatory diseases, using methods that in a certain way modify the reaction of the immune system.
The shares of Dynavax Technologies have been on a downtrend since August of this year. The organization was able to recover more than 21 percent of the losses over the past month, which helped the total downturn since the beginning of the year reduced to a bit more than 2 percent.
Dynavax Technologies Corporation (DVAX) was up 9.59% on Wednesday to close the trading $5.60, after which its market capitalization stands at $597 million.