Shares of the small-cap biotech Dynavax Technologies (NASDAQ: DVAX) gained a stately 48% over the course of August, according to data from S&P Global Market Intelligence. What event sparked this sizable uptick?
On Aug. 7, the stock began churning higher in response to the company's second-quarter earnings report. Even though Dynavax reported a staggering $42.7 million net loss for the three-month period, investors were apparently more concerned about the current state of Heplisav-B's ongoing commercial launch. Heplisav-B is a vaccine approved by the Food and Drug Administration as a preventative treatment for hepatitis B. It is also the company's only FDA-approved product.
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Source Fool.com