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Dynavax Technologies Corp. Sued by Investor



                 Dynavax Technologies Corp. Sued by Investor

PR Newswire

SAN DIEGO and BERKELEY, Calif., June 20, 2013

SAN DIEGO and BERKELEY, Calif., June 20, 2013 /PRNewswire/ -- Shareholder
rights attorneys at Robbins Arroyo LLP announce that a purchaser of Dynavax
Technologies Corp. (NASDAQ: DVAX) securities has filed a complaint in the U.S.
District Court for the Northern District of California.  The complaint alleges
that Dynavax and certain of its officers and directors violated the Securities
Exchange Act of 1934 between April 26, 2012 and June 10, 2013 (the "Class
Period").

(Logo: http://photos.prnewswire.com/prnh/20130103/MM36754LOGO)

Dynavax Is Accused of Making False and Misleading Statements Regarding the
Viability of HEPLISAV

The complaint alleges that during the Class Period, Dynavax issued a series of
materially false and misleading statements concerning the viability of its
lead product, HEPLISAV.  According to the complaint, on April 26, 2012, the
company announced that it had requested priority review of its U.S. Biologics
License Application to the Food and Drug Administration for its HEPLISAV
vaccine for immunization against infection caused by all known subtypes of
hepatitis B virus in adults 18 to 70 years of age.  In its announcement, the
company cited its belief that the drug was a "significant improvement" over
other marketed products.  Then, on May 8, 2012, Dynavax reported its intent to
develop its own commercial operation in order to launch HEPLISAV independently
in the United States.  According to the complaint, Dynavax lacked a reasonable
basis for such positive statements as the company failed to disclose that the
clinical trial for HEPLISAV was flawed because: (i) the trial demographics
were not representative of the U.S. population; (ii) the trial lacked the
typical one-year safety follow-up for vaccines; (iii) the trial lacked
information concerning concomitant use with other vaccines; and (iv) the
safety database size was inadequate.  As a result of these false and
misleading statements, Dynavax stock traded at artificially inflated prices
during the Class Period, reaching a high of $5.26 per share on May 2, 2012. 
  

Dynavax Stock Price Falls Dramatically on News Regarding Insufficient Data to
Support the Safety of HEPLISAV

According to the complaint, On November 15, 2012, Dynavax announced that,
among other things, an advisory committee of the FDA voted 8 to 5 that there
was insufficient data to adequately support the safety of the HEPLISAV.  On
this news, the company's stock price dropped approximately 47% to close at
$2.44 per share on November 16, 2012.  On February 25, 2013, the company
announced that the FDA refused to approve HEPLISAV  for use in adults 18 to 70
years of age without more safety data, resulting in the company's stock price
dropping an additional 32%, or $0.96 per share, to close at $2.01 per share on
February 25, 2013. Finally, on June 10, 2013, Dynavax announced that the FDA
would require the company to collect additional safety data prior to approval
for use in the adults 18 to 70 years of age.  On this news, Dynavax stock fell
an additional 43%, to or $1.07 per share, to close at $1.40 per share on June
10, 2013.

If you invested in Dynavax and would like to discuss your shareholder rights,
please contact attorney Darnell R. Donahue at (800) 350-6003,
ddonahue@robbinsarroyo.com, or via the shareholder information form on the
firm's website

Robbins Arroyo LLP is a nationally recognized leader in securities litigation
and shareholder rights law.  The firm represents individual and institutional
investors in shareholder derivative and securities class action lawsuits, and
has helped its clients realize more than $1 billion of value for themselves
and the companies in which they have invested.  For more information, please
go to http://www.robbinsarroyo.com.

Press release link:
http://www.robbinsarroyo.com/shareholders-rights-blog/dynavax-technologies-corp/

Attorney Advertising. Past results do not guarantee a similar outcome.  

Contact:
Darnell R. Donahue
Robbins Arroyo LLP
ddonahue@robbinsarroyo.com
(619) 525-3990 or Toll Free at (800) 350-6003
http://www.robbinsarroyo.com

SOURCE Robbins Arroyo LLP

Website: http://www.robbinsarroyo.com
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