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Fly News Breaks for November 14, 2016
DVAX
Nov 14, 2016 | 14:22 EDT
Cowen analyst Phil Nadeau called the CRL issued to Dynavax regarding its Biologics License Application for Heplisav-B "disappointing and concerning," but also noted that the FDA did not request new trials. While the CRL will push approval until late 2017, in a best case scenario, there may still be a path forward for approval of the drug, said Nadeau, who added that he thinks the stock now looks undervalued. The analyst has an Outperform rating and $45 price target on Dynavax shares.
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