The Law Offices of Todd M. Garber
announces that it is investigating potential claims against Dynavax
Technologies Corporation (“Dynavax” or the “Company”) (NASDAQ:DVAX)
concerning possible violations of federal securities laws. The
investigation focuses on certain statements issued by Dynavax between
April 26, 2012 and June 10, 2013 regarding the Company’s business and
Dynavax is a clinical-stage biopharmaceutical company that discovers and
develops novel products to prevent and treat infectious and inflammatory
diseases. The investigation concerns allegations that that the Company
issued false and misleading statements or failed to disclose material
adverse facts concerning its biologic license application for Heplisav,
an investigational adult hepatitis-B vaccine.
On June 10, 2013 the Company disclosed that in a meeting with the Food
and Drug Administration (“FDA”) over its biologic license application
for Heplisav, the FDA expressed that it wanted additional safety data
from more patients before approving the drug. The FDA further expressed
that analyzing Heplisav for smaller groups of patients did not fully
address its concerns and that it would like to see additional safety
trials. Moreover, as previously noted by the FDA, there are also ongoing
concerns regarding Dynavax’s manufacturing and testing of Heplisav.
Following this news, shares of Dynavax declined $1.07 per share, or
43.32%, to close on June 10, 2013, at $1.40 per share, on unusually
If you purchased Dynavax stock during the foregoing period, if you have
information or would like to learn more about these claims, or if you
purchased Dynavax shares prior to April 26, 2012 and wish to discuss
these matters, please contact Todd M. Garber, Esquire, of the Law
Offices of Todd M. Garber, by telephone at 213-700-7262 or by email to firstname.lastname@example.org.
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Copyright Business Wire 2013