Shares of Dynavax Technologies (NASDAQ: DVAX) were jumping 7.1% higher as of 3:38 p.m. EDT on Thursday. The gain came after Valneva reported positive initial results from the first part of a phase 1/2 clinical study evaluating its COVID-19 vaccine candidate VLA2001. This experimental vaccine uses Dynavax's CpG 1018 adjuvant.
Valneva tested three doses of VLA2001 in the phase 1/2 study. The company reported especially encouraging results for the high dose of its COVID-19 vaccine candidate. All participants in the study who received the high dose developed significant levels of IgG antibodies to the SARS-CoV-2 virus spike protein.
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Source Fool.com