Dynavax Technologies Corporation (NASDAQ:DVAX) Shares Dip Ahead of Earnings Release

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Dynavax Technologies Corporation (NASDAQ:DVAX) shares were down 0.45% to $15.43 on Friday ahead of the company’s earnings release on August 5. The company has a market cap of $591.31 million at 38.50 million shares outstanding. Shares have been trading in a 52-week range of $12.34 to $32.49 so the current price is near the support.

Dynavax Technologies Corporation is a clinical-stage biopharmaceutical company that sells toll-like receptor  Its development programs are focused on vaccines and cancer immunotherapy. The company’s lead vaccine product candidate is HEPLISAV-B, an investigational adult hepatitis B vaccine, which combines its TLR9 agonist adjuvant and recombinant hepatitis B surface antigen. In addition, it has a lead cancer immunotherapy candidate SD-101, which is a C Class CpG TLR9 agonist selected for characteristics optimal for treatment of cancer, including high interferon induction.

Analysts are expecting -$0.68 earnings per share for Q2, up 15% or $0.12 from last year’s earnings per share of -$0.80. In the previous quarter, Dynavax Technologies Corporation reported -$0.70 earnings per share. Analysts are forecasting -2.86% earnings per share growth.

In its previous earnings release, Dynavax Technologies Corporation reported a $0.3 million increase in revenues for the period ending March 31, 2016. Research and development expenses for the first quarter decreased by $2.2 million, or 10%, compared to the same period in 2015. This reflected an increase in employee headcount and activities in preparation for the anticipated commercial launch of HEPLISAV-B, as well as a reduction in outside services expense due to lower activity related to HBV-23 following its completion in the fourth quarter of 2015. General and administrative expenses for the three months ended March 31, 2016, increased by $3.3 million

We are focused on working with the FDA to obtain approval of HEPLISAV-B before year end and on preparing for launch, including preparation for an advisory panel in case one is called, hiring of key commercial personnel, market and pricing research and manufacturing of launch inventory,” said Dynavax CEO Eddie Gray on the Q1 results.

Since then, Dynavax Technologies Corporation has presented in a couple of investor conferences and has shared new efficacy data on HEPLISAV-B at ADA Scientific Sessions.

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