Dynavax Technologies Corporation
) reported a loss of 9 cents per share in the second quarter of
2013, a penny narrower than the Zacks Consensus Estimate of a
loss of 10 cents per share, but flat year over year.
Dynavax reported revenues of $3.4 million, up 26.4% from the
year-ago period and above the Zacks Consensus Estimate of $3
Collaboration revenues came in at $1.4 million, down 16.4%
from the year-ago quarter.
Grant revenue from Dynavax' contract for adjuvant development
awarded by the National Institutes of Health grew 58.1% to $1.4
million from the year-ago quarter.
Research and development expenses came in at $12.8 million in
the second quarter of 2013, up 12.5% driven primarily by the
purchase of components for hepatitis B vaccine candidate,
General and administrative expenses surged 28.1% to $7.6
million. Incremental severance expenses contributed to the
We remind investors that Dynavax is developing Heplisav, in
). Heplisav is currently under review in the US and Europe.
However, Dynavax received a setback in its efforts to get the
candidate approved in the U.S. in Jun 2013 when the U.S. Food and
Drug Administration (FDA) asked for additional safety data to
approve its Biologic License Application (BLA).
Dynavax had conducted a meeting with the agency in Jun 2013 to
discuss the Complete Response Letter (CRL) issued by the latter
in Feb 2013 refusing to approve Heplisav in patients in the age
group of 18-70 without further evaluation of safety.
Dynavax currently does not have any approved product in its
portfolio. We expect investor focus to remain on Heplisav updates
in the near term.
Apart from Heplisav, Dynavax is also developing AZD1419, for
the treatment of asthma, in partnership with
Dynavax carries a Zacks Rank #2 (Buy). Right now,
Anika Therapeutics Inc.
) looks more attractive with a Zacks Rank #1 (Strong Buy).
ANIKA THERAPEUT (ANIK): Free Stock Analysis
ASTRAZENECA PLC (AZN): Free Stock Analysis
DYNAVAX TECH CP (DVAX): Free Stock Analysis
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