DBVT - Why DBV Technologies Is Plunging Today
DBV Technologies (NASDAQ: DBVT), a biopharmaceutical company based in France, provided a business update today regarding Viaskin, a potential peanut allergy treatment the company developed that is currently being reviewed by the U.S. Food and Drug Administration (FDA). DBV Technologies expressed concerns that the review process for Viaskin could be delayed, and the company announced a comprehensive restructuring plan to prepare for that possibility. As a result of these announcements, shares of the company are sinking lower today, and are down by 14.4% as of 3:35 p.m. EDT on Friday.
Viaskin is a "peanut patch" that can desensitize a patient's immune system by gradually exposing the patient to increased amounts of peanut protein. DBV Technologies first submitted a Biologics License Application (BLA) for Viaskin in August of 2019. However, in March, the company announced that the FDA had questioned the effect of patch adhesion on Viaskin's efficacy during its review process. DBV Technologies submitted more data to the health industry regulator to address these issues, but the company has yet to hear back from the FDA.
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