The FDA Cancelled Dynavax's Hep-B Drug ADCOM Meeting

EDIT: This story originally stated the drug had been blocked by the FDA. The mistake has been corrected. 

Shares of Dynavax Technologies Corporation DVAX are selling off Friday afternoon after the FDA cancelled their upcoming ADCOM meeting for their Heplisav drug. ADCOM meetings advise on whether or not to approve a drug.

The meeting was cancelled to allow time to review several outsanding issues with the drug.

This was Dynavax's second attempt at approval for Heplisav, a Hepatitis B vaccine. They were originally rejected in November of 2012. 

At time of writing, shares were down 33% to $10.60. 

Benzinga Pro subscribers were alerted to the news first.