Dynavax Technologies Corporation (NASDAQ: DVAX) jumped in Friday trading, after the company disclosed that the U.S. Food and Drug Administration (FDA) has approved its HEPLISAV-B drug, for prevention of Hepatitis B in adults.
HEPLISAV-B is the first new hepatitis B vaccine in the United States in more than 25 years and the only two-dose hepatitis B vaccine for adults.
Hepatitis B is an extremely infectious and potentially deadly virus affecting a wide range of adults in the United States. There is no cure for hepatitis B, and infections are on the rise. In 2015, new cases of acute hepatitis B increased by more than 20% nationally.
Hepatitis B can be prevented through effective vaccination. Current hepatitis B vaccines require three shots over a six-month period, however, almost half of adults fail to complete the series within one year
Dynavax CEO Eddie Gray was quoted in a news release as saying, "HEPLISAV-B is the first FDA-approved product for Dynavax and demonstrates our ability to develop innovative products and progress them from discovery to commercialization.
"We would like to thank the many study participants and clinical trial investigators who contributed to the development of HEPLISAV-B. We expect that it will become an essential tool in the public health community's fight to prevent hepatitis B, and we look forward to making HEPLISAV-B available to clinicians and their adult patients."
As Friday trading got underway, DVAX shares went for $21.28, up $1.12, or 6.4%, within a 52-week trading range of $3.20 to $24.45.
