Why Dynavax Stock Has Jumped 11% So Far This Week
Shares of Dynavax Technologies (NASDAQ: DVAX) were up by 11.2% so far this week as of the market close on Thursday. That gain was primarily due to the company's announcement on Wednesday that it had signed an agreement with Clover Biopharmaceuticals under which it will supply its CpG 1018 adjuvant for use with Clover's COVID-19 vaccine candidate, SCB-2019.
Dynavax didn't reveal any financial details of its agreement with China-based Clover. However, the biotech stock rose because investors realized that the deal will likely be quite lucrative.
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Source Fool.com