VALN - Why Dynavax Stock Won on a Losing Monday for the Market
Although optimists currently believe we're getting past the worst of the coronavirus pandemic, Dynavax Technologies (NASDAQ: DVAX) shares saw a lift Monday on positive vaccine news. A popular coronavirus stock in the worst days of the outbreak, an important business partner of the company had some good regulatory news to impart. Dynavax investors took this to heart by pushing their company's stock up by nearly 2.3% on the day, while the S&P 500 index sank by 0.4%.
On Monday, France-based vaccine specialist Valneva (NASDAQ: VALN) announced that its VLA2001 coronavirus jab had been granted Emergency Use Authorization (EUA) by the United Arab Emirates' Ministry of Health and Prevention. That green light from the wealthy Middle Eastern nation follows the vaccine's conditional marketing authorization in the U.K. and an EUA from the nearby Persian Gulf state of Bahrain.
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Why Dynavax Stock Won on a Losing Monday for the Market