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Dynavax shares set to rise on "encouraging' results of cancer drug

Biopharmaceutical company's treatment is aimed at head and neck cancers
Lab worker with microscope
The shares advanced in pre-market trading

Shares of Dynavax Technologies Corp. (NASDAQ:DVAX) are set to climb after the company reported its immune-oncology drug showed “promising” response rate in treating head and neck cancers.

The stock rose 14% to US$22.44 in pre-market trading.

Dynavax released data in an abstract at the American Association for Cancer research meeting.

The SD-101 drug “showed a promising 40%” overall response rate “indicative of potential activity in the difficult-to-treat setting of head and neck cancers,” MarketWatch reported, citing RBC Capital Markets analyst Brian Abrahams.




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