Dynavax Technologies (NASDAQ: DVAX) , a small-cap vaccine and immunotherapy company, is having another volatile day. Shares of the vaccine specialist are down by an eye-popping 17% as of 10:38 a.m. EDT Friday morning.
The biotech's shares are on a wild ride yet again because of news from pharma titan Merck (NYSE: MRK) . Merck and its partner Ridgeback Biotherapeutics reported that their oral antiviral pill slashed hospitalization rates in adult COVID-19 patients by half. What's more, the duo noted that no patients on the drug died in the study. Eight people in the placebo component of the trial passed away.
Image source: Getty Images.
For further details see:
Why Dynavax Technologies Stock Is Sliding Today