Why Dynavax Stock Is Skyrocketing Today

They say that good things come in threes. That appears to be the case for Dynavax Technologies (NASDAQ: DVAX) today. Shares of the biotech were skyrocketing 47.1% as of 12:36 p.m. EST on Monday after the company announced three developments.

First, Dynavax and Clover Biopharmaceuticals announced plans to kick off a phase 2/3 clinical study in the first half of this year evaluating Clover's S-Trimer COVID-19 vaccine candidate with Dynavax's CpG 1018 adjuvant. Second, Dynavax and the Coalition for Epidemic Preparedness Innovations (CEPI) announced a $99 million deal for Dynavax to supply CpG 1018 manufacturing for the global COVID-19 response. Third, the company announced that the U.K. government is ordering an additional 40 million doses of Valneva's COVID-19 vaccine VLA2001, which uses Dynavax's CpG 1018 adjuvant.

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Source Fool.com