Why Dynavax Shares Are Jumping Today

Shares of Dynavax Technologies (NASDAQ: DVAX) were jumping 11.4% as of 11:13 a.m. EDT on Friday after the company announced that the first participants have been dosed in a phase 1 study evaluating Clover Biopharmaceuticals' COVID-19 vaccine SCB-2019. The vaccine contains Dynavax's CpG 1018 adjuvant to boost immune responses.

Investors continue to be intensely interested in the prospects for COVID-19 vaccines. Nearly any announcement of progress with coronavirus vaccine development is a catalyst for the biotech stocks involved. That's what happened with Dynavax today.

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Source Fool.com