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Stock Alert: Dynavax Shares Rise 11% In Early Trading

Shares of Dynavax Technologies Corp. (DVAX) are rising over 11% in pre-market today, after the company announced a collaboration with the Coalition for Epidemic Preparedness Innovations or CEPI supporting the global effort to develop a vaccine to prevent the coronavirus or COVID-19.

Dynavax noted that it would make its proprietary toll-like receptor 9 (TLR9) agonist adjuvant, CpG 1018TM, available for the development of effective vaccines against COVID-19. CpG 1018 is the adjuvant used in HEPLISAV-B [Hepatitis B Vaccine (Recombinant), Adjuvanted], an adult hepatitis B vaccine approved by the US FDA.

As previously announced, the CEPI initiative to develop a vaccine to prevent COVID-19 led to the collaboration between Dynavax and the University of Queensland, Australia. CEPI and Dynavax would work together to identify and coordinate engagements with global entities working on COVID-19 vaccines.

The stock has been trading between $1.80 and $8.19 in the past one year, and closed Wednesday's trade at $3.31, up 1 cent or 0.30%. DVAX is currently trading at $3.69, up 38 cents or 11.48% in the pre-market trading session.

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