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Fly News Breaks for April 16, 2018
DVAX
Apr 16, 2018 | 08:54 EDT
JPMorgan analyst Anupam Rama says the overall response rate of 40% in the initial data provided from Dynavax's Phase 1b/2 trial of SD-101 plus pembrolizumab in treatment-naive head and neck cancer abstract beat his "homerun scenario" of 30%. The data, with the caveat of small numbers, suggest not only activity, but efficacy that surpasses what has been recently observed in clinical trials, Rama tells investors in a research note. He adds that there were no major safety concerns within the abstract. The analyst thinks Dynavax shares should be up at least 35% in early trading. The stock in premarket trading is up 14% to $22.60. Rama believes the rally should be sustained provided that the 30%-plus response rate is confirmed in the full presentation. He has a Neutral rating on Dynavax.
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