DBVT - Why DBV Technologies Stock Popped Today
Shares of DBV Technologies (NASDAQ: DBVT) , a clinical-stage biotech company based in France, are soaring on Friday and are up by 41.2% as of 11:34 a.m. EST after rising by as much as 49.7% earlier in the day. The catalyst for these gains is a regulatory update the company provided regarding its potential treatment for peanut allergy, Viaskin.
Viaskin is a peanut patch that can desensitize patients' immune systems by exposing them to peanut protein. But due to concerns over the effect of patch adhesion on its efficacy, the U.S. Food and Drug Administration (FDA) did not approve Viaskin. In October, DBV Technologies requested a Type A meeting with the regulatory authority to discuss a path forward. Type A meetings are used to resolve issues that have stalled the development of a drug.
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Why DBV Technologies Stock Popped Today