DBVT - Why DBV Technologies Stock Is Soaring Today
DBV Technologies (NASDAQ: DBVT) is a clinical-stage biopharmaceutical company based in France that specializes in developing treatments for food allergies. On Monday, the company announced that the European Medicines Agency (EMA) had validated its Marketing Authorization Application (MAA) for Viaskin, a potential treatment for peanut allergy. As a result of this news, shares of DBV Technologies are skyrocketing today and are up by 43% as of 11:57 a.m. EST, after rising by as much as 82.5% earlier today.
Viaskin is a patch that is supposed to desensitize a patient's immune system by exposing the patient to increased amounts of peanut protein. Now that the EMA has officially validated DBV Technologies' MAA for Viaskin, the formal review process for the potential allergy treatment can begin. It is worth noting that the company also tried to have Viaskin approved by the U.S. Food and Drug Administration (FDA), but its application hit a roadblock.
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Why DBV Technologies Stock Is Soaring Today