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Dynavax Shares Plunge on Rejected Application

Shares of the drugmaker were falling on news that U.S. regulators have rejected its Heplisav-B application

Dynavax (DVAX) - Get Dynavax Technologies Corporation Report shares were lower Monday after U.S. regulators rejected the company's application to market preventative hepatitis B vaccine Heplisav-B. The drugmaker also said it will need assistance from other pharmaceutical companies or financial partners to resubmit Heplisav-B for another shot at approval. In October, the U.S. Food and Drug Administration nixed a proposed advisory panel scheduled for November, which would have reviewed the Heplisav-B efficacy and safety data.  The meeting cancellation initially prompted Dynavax investors to sell shares at that time amid concerns the FDA was leaning towards rejecting the application.

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