Dynavax (DVAX) Gains as Medigen Rolls Out COVID-19 Vaccine
Dynavax (DVAX) stock gains as partner Medigen announces launch of its COVID-19 vaccine MVC-COV1901 adjuvanted with CpG 1018 of the former.
Shares of Dynavax Technologies Corporation DVAX jumped 14.4% after its Taiwan-based partner Medigen Vaccine Biologics Corporation announced the rollout of its COVID-19 vaccine — MVC-COV1901 — in the East Asian country.
MVC-COV1901 is a subunit vaccine with recombinant S-2P antigen adjuvanted with CpG 1018 supplied by Dynavax and aluminum hydroxide.
We remind investors that Medigen received Taiwan Emergency Use Authorization for its vaccine. The vaccine is indicated for adults over 20 years of age and is administered in two doses 28 days apart for the prevention of COVID-19.
Per the company, approximately 600,000 people are anticipated to receive the vaccine this week.
We note that CpG 1018 is the adjuvant used in Dynavax’s hepatitis B vaccine, Heplisav-B, which is approved in the United States and the European Union for the prevention of infection caused by all known subtypes of hepatitis B virus in adults aged 18 years and older.
Dynavax has also collaborated with other companies for their COVID-19 vaccines.
Dynavax entered into a commercial supply agreement with Biological E for the use of CpG 1018 adjuvant in the commercial production of Bio E's subunit COVID-19 vaccine candidate, Corbevax.
It has also entered into a commercial supply agreement with Clover Biopharmaceuticals for the use of CpG 1018 adjuvant in the commercial production of Clover's COVID-19 vaccine candidate, SCB-2019 (CpG 1018/Alum).
These collaborations are generating additional revenues for Dynavax. Net product revenues for CpG 1018 adjuvant during the second quarter of 2021 were $39.0 million.
Shares of Dynavax have surged 209.4% so far this year compared with the industry’s growth of 1.2%.
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The coronavirus pandemic refuses to lose steam with the rise of new and deadly variants thereby creating demand for more vaccines.
We note that Pfizer PFE and partner BioNTech BNTX recently won full approval from the FDA for its COVID-19 vaccine, Comirnaty, for individuals aged 16 years and older. It is the first COVID-19 vaccine to be granted approval by the FDA.
Dynavax currently has a Zacks Rank #3 (Hold). A better-ranked stock in the biotech sector is Repligen Corporation RGEN which sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Earnings estimates for Repligen for 2021 are up 50 cents in the past 30 days. The stock is up 39.4% in the year so far.
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